Global Car Insurance Market Size & Outlook, 2023-2030
The car insurance industry worldwide is expected to reach a projected revenue of US$ 1,764.2 million by 2030. A compound annual growth rate of 13.4% is expected of the worldwide car insurance industry from 2024 to 2030.
Revenue, 2023 (US$M)
$730.1
Forecast, 2030 (US$M)
$1,764.2
CAGR, 2024 - 2030
13.4%
Report Coverage
Worldwide
Global car insurance market, 2018-2030 (US$M)
Global car insurance market highlights
- The global car insurance market generated a revenue of USD 730.1 million in 2023 and is expected to reach USD 1,764.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 13.4% by 2030.
- In terms of segment, third party accounted for a revenue of USD 730.1 million in 2023.
- Third Party is the most lucrative coverage segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 730.1 million |
| Market revenue in 2030 | USD 1,764.2 million |
| Growth rate | 13.4% (CAGR from 2023 to 2030) |
| Largest segment | Third party |
| Fastest growing segment | Third Party |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Third Party |
Other key industry trends
- In terms of revenue, the North America accounted for 33.2% of the global car insurance market in 2023.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Car Insurance Market Scope
Car insurance market segmentation & scope
Distribution Channel
Insurance Agents/Brokers
Direct Response
Banks
Others
Vehicle Age
New Vehicle
Used Vehicle
Application
Personal
Commercial
Countries
U.S.
Canada
Mexico
UK
Germany
France
Denmark
Italy
Spain
Sweden
Norway
India
Japan
South Korea
Thailand
Australia
Brazil
Argentina
China
South Africa
Saudi Arabia
UAE
Kuwait
Car Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global car insurance market size, by regions, 2018-2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
