The Global Logistics Insurance market size was valued at USD 67.11 Billion in 2021 and is projected to reach USD 78.69 Billion by 2028, growing at a CAGR of 2.3% from 2022 to 2028.
Logistics insurance, also known as cargo insurance or freight insurance, protects businesses against financial losses resulting from damage, loss, theft, or other unforeseen events during the movement of goods from one location to another. It covers various modes of transportation, including maritime shipping, air freight, road transport, and rail transport, as well as warehousing and distribution activities.
Market Trends:
Globalization and Trade Growth: As global supply chains and trade have grown, so has the need for logistics insurance to guard against the dangers of cargo loss, damage, and delays that come with cross-border shipping.
Events that might interrupt supply chains and pose serious hazards to cargo shipments include natural catastrophes, geopolitical conflicts, cyberattacks, and pandemics. This emphasizes the significance of adequate insurance coverage and risk management measures.
Digitalization and Data Analytics: Real-time cargo movement monitoring, predictive risk modeling, and more precise pricing and underwriting choices are all made possible by the industry’s use of digital technologies and data analytics tools.
Market Overview:
By offering risk mitigation solutions to companies engaged in the transportation and storage of goods, the logistics insurance market helps to facilitate international trade and commerce. It includes a broad range of insurance services and products designed to meet the requirements of logistics companies, shippers, carriers, freight forwarders, and other supply chain participants.
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Leading players involved in the Logistics Insurance Market include:
Aon PLC,Atrium Corporation,Beazley Group,Gard AS,Liberty Mutual Insurance,Mitsui Sumitomo Insurance Company Limited,Peoples Insurance Agency,Samsung Fire & Marine Insurance Co. Ltd.,Sompo Japan Nipponkoa Insurance Inc.,Swiss Re Ltd,Tokio Marine Holdings Inc and other key players
The latest report on the Logistics Insurance Market provides a detailed analysis of the market for the years 2024 to 2032. It presents a comprehensive overview of the global Logistics Insurance industry, incorporating all key industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Logistics Insurance market. Moreover, the research covers crucial chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to grasp the market direction and development in the present and forthcoming years.
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Segmentation of Logistics Insurance Market:
By Type
· Land Cargo Insurance
· Marine Cargo Insurance
· Air Transport Insurance
By Coverage Type
· Cargo Insurance
· Freight Forwarder Liability Insurance
· Marine services liability
· Energy logistics
· Other
By End User
· Individual,
· Enterprises
An in-depth study of the Logistics Insurance industry for the years 2024–2032 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report’s segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers’ values, needs, and buying inclinations, are integral parts of any thorough market analysis.
By Regions: -
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Benefits of Logistics Insurance Market Research:
- Research Report covers the Industry drivers, restraints, opportunities and challenges
- Competitive landscape & strategies of leading key players
- Potential & niche segments and regional analysis exhibiting promising growth covered in the study
- Recent industry trends and market developments
- Research provides historical, current, and projected market size & share, in terms of value
- Market intelligence to enable effective decision making
- Growth opportunities and trend analysis
- Covid-19 Impact analysis and analysis to Logistics Insurance market
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