Credit insurance or credit insurance is an insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy. Credit insurance product is a type of property and casualty insurance.
Scope of the Report:Global Credit Insurance market is expected to grow at a CAGR of 2.15% from 11011.9 million USD in 2017 to reach 12508.9 million USD by 2023. Demand for credit insurance continues to grow as new markets open up and trade continues to become more global. However, the market is clearly cyclical, with a strong correlation with GDP. Credit insurers faced weaker economic conditions that negatively affected their underwriting performance during 2013-2014.
The Global Credit Insurance market is expected to witness expansion in the near future. The credit insurance market is a huge market with low penetration. This market has a huge yet unrealized potential. Regulatory and insolvency frameworks vary widely between different countries, and although there is generally an upward trend in corporate insolvencies, the differences in frameworks and in reporting standards make comparison difficult. These factors have contributed to an increased awareness of and focus on trade risks on credit.
The global Credit Insurance market is valued at 11200 million USD in 2018 and is expected to reach 12500 million USD by the end of 2026, growing at a CAGR of 2.2% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Credit Insurance.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
This report studies the Credit Insurance market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Credit Insurance market by product type and applications/end industries.
Market Segment by Companies, this report covers Sinosure
Euler Hermes
Atradius
Coface
Zurich
Credendo Group
QBE Insurance
Cesce
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Domestic Trade
Export Trade
Market Segment by Applications, can be divided into Buyer: Turnover below EUR 5 Million
Buyer: Turnover above EUR 5 Million
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
