The report covers the forecast and analysis of the marine insurance market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the marine insurance market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the marine insurance market on a global level.
In order to give the users of this report a comprehensive view of the marine insurance market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the marine insurance market by segmenting the market based on the type, insurance coverage, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The massive IoT trends witnessed across the insurance service sector will propel the market growth over the forecast timeline. For instance, the connected devices help the insurers to examine the customer information and type of customer services. Nevertheless, the poor state of the shipping industry, as well as offshore activities and oscillating commodity costs, will put brakes on the industry expansion. Moreover, declining rates of freight will pose a huge challenge to the growth of the market over the forecast timespan.
Based on the type, the market is segmented into Transport/Cargo, Marine Liability, Hull, and Offshore/Energy. On the basis of insurance coverage, the industry is divided into Natural Calamity, Loss/Damage, Fire/Explosion, and Others.
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Industry Major Market Players