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ASEAN Automotive Insurance Market - Industry Dynamics, Market Size, and Opportunity Forecast to 2027

ASEAN Automotive Insurance Market (By risk cover – Comprehensive, Liability, Collision, Uninsured motorist, Add-ons; By Policy term – 1 year, 3 years, 5 years; By Channel – Direct, Bank, Agency, Online Marketplaces; By Vehicle type – Diesel, Petrol, Electric Vehicle; By End-user – Individuals, Businesses; By vehicle ownership – New, Used; By Vehicle application – Personal, Commercial; By Country – Malaysia, Singapore, Thailand, Vietnam, Indonesia, Philippines) – Industry Dynamics, Market Size, and Opportunity Forecast to 2027

  • Published On: 08-Apr-2021  |  Format: pdf powerpoint excel  |  Report ID: AA0421077

FREQUENTLY ASKED QUESTIONS

ASEAN automotive insurance market in 2020 was valued at US$ 11.9 Billion.

Report provides market size forecast for period 2021-2027, with market estimated to grow at compounded annual growth rate of 5.6%, adding opportunity worth US$ 5.3 Billion.

The report provides market size estimates for period of 2017-2027. Wherein, 2017-2019 is the historic period. 2020 is the base year, and 2021-2027 is the forecast period. In all, forecast is provided for a term of 10 years in the report. 

The report provides detailed segment level market size analysis and forecast for multiple parameters. These include: Risk Cover (9 subsegments), Policy Term (4 subsegments), Distribution Channel (4 channels), Vehicle Ownership (2 subsegments), Vehicle Application (7 subsegments), End-user (9 subsegments), Region (6 countries)

Report covers detailed segment level market size breakdown for following 6 countries – Singapore, Indonesia, Malaysia, Thailand, Singapore, and Vietnam.

Report covers in-depth analysis of market dynamics, explaining different factors expected to influence market growth over the forecast period. These are marked as market drivers, restraints, challenges, and trends. The report identifies rise in disposable income, growing awareness among customers, and regulatory changes have been significant in driving market demand. Responsiveness of market players to this shift, in the form of enrichment of policy covers and their premium and ease of availability through multiple channels, has positive impact on market growth.

The report identifies following companies as prominent players in the market - Tokio Marine Life, Ping An Insurance (Group) Company of China, Ltd., AVIVA LTD., Allianz, and AIG.

The report includes descriptive profiles of 12 insurance providers. The list is always customizable for no cost, incase one wishes to add or replace few companies.

Yes, report provides impact analysis of Covid-19 pandemic on market growth trend. 3 different scenarios are described in report depending on how the region responds to pandemic and its effects and subsequent recovery strategies.

Pricing analysis section describes shift in average premium over the forecast period for all 6 countries. We also have options, if you wish to have detailed pricing analysis for a given product, cover, or term or any segment therein.

Yes, report provides estimate for global market size in 2020, and share of Asia pacific in the global automotive insurance market. Share of ASEAN in Asia Pacific automotive insurance market is also provided to help understand how the region fares against the global market.

Report provides analysis of individual consumer behavior as part of insights. Details such as vehicle ownership, average spend on maintenance, preferred policy term, most common subscribed add-ons on standard policy, preferred distribution channel, and other details are analyzed to help understand ASEAN Automotive insurance market growth potential.

Yes, report provides automotive insurance market size for Electric vehicles (EVs) as well in the report, covered under Vehicle type segmentation.