Global Boat Insurance Market Size Was 4973 Million USD In 2017
Thursday, 11 Oct, 2018
Boat Insurance is hull insurance that covers damage to a boat, its machinery and its equipment. It covers all types of vessels operating into the oceans, lakes, or rivers like bulk carriers, fishing boats, ships, tankers, cruises, yachts.
In 2017, the global Boat Insurance market size was 4973 million USD and it is expected to reach 4219 million USD by the end of 2025, with a CAGR of -2% during 2017-2025.
Europe is a mature market and navigating the market with the market size 2618 in 2017. China develops maturely in recent years and also plays an important role in Boat Insurance market. In 2017, the China Boat Insurance market size was 562 million USD and with a CAGR of -1% during 2017-2025.
In 2017, the Actual Cash Value Revenue (M USD) was 1989 and the Market Share was 40%, and it will be 1621 and 38% in 2025, with a CAGR -2.5% from 2017 to 2025. In 2017, the Agreed Amount Value Revenue (M USD) was 2984 and the Market Share was 60%, and it will be 2598 and 62% in 2025, with a CAGR -1.7% from 2017 to 2025.
At present, the market is developing rapidly and the key players include Zurich, AXA, AVIVA, State Farm, Allianz, GEICO, Sompo Japan Nipponkoa, CPIC, Markel Corporation, Kemper Corporation, Allstate, MetLife, PingAn, Westfield, Westpac, RAA etc.