Asia Pacific Car Insurance Market Size & Outlook
The car insurance market in Asia Pacific is expected to reach a projected revenue of US$ 484.2 million by 2030. A compound annual growth rate of 14.6% is expected of Asia Pacific car insurance market from 2024 to 2030.
Revenue, 2023 (US$M)
$186.9
Forecast, 2030 (US$M)
$484.2
CAGR, 2024 - 2030
14.6%
Report Coverage
Asia Pacific
Asia Pacific car insurance market, 2018-2030 (US$M)
Asia Pacific car insurance market highlights
- The Asia Pacific car insurance market generated a revenue of USD 186.9 million in 2023.
- The market is expected to grow at a CAGR of 14.6% from 2024 to 2030.
- In terms of segment, third party was the largest revenue generating coverage in 2023.
- Third Party is the most lucrative coverage segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 186.9 million |
| Market revenue in 2030 | USD 484.2 million |
| Growth rate | 14.6% (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 |
| Key market players worldwide | Allianz SE, AXA SA, Zurich Insurance Group AG, Bajaj Finserv, Liberty Mutual Insurance, Progressive Insurance, Travelers Insurance, Chubb Ltd, State Farm, American International Group Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.6% of the global car insurance market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 484.2 million by 2030.
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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 |
|---|
Asia Pacific car insurance market
Related regional statistics
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