Asia Pacific Trade Credit Insurance Market Size by 2022-2028

Asia Pacific Trade Credit Insurance Market Size, Share & Industry Trends Analysis Report By Coverage (Whole Turnover and Single Buyer), By Application (International and Domestic), By Organization Size, By Vertical, By Country and Growth Forecast, 2022 - 2028

Published Date: January-2023 | Number of Pages: 105 | Format: PDF | Report ID: KBV-22076

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Market Report Description

The Asia Pacific Trade Credit Insurance Market would witness market growth of 12.3% CAGR during the forecast period (2022-2028).

Trade credit insurance has been increasingly popular in India year over year as more companies worry about payment risks brought on by the financial crisis and payment delays brought on by the epidemic. Additionally, the usage of data analytics and blockchain in trade finance, as well as the introduction of digital technologies to streamline banking and insurance services, are anticipated to propel the market.

Therefore, it is projected that over the forecast period, the advent of Artificial Intelligence (AI) and the Internet of Things (IoT) technology, combined with cutting-edge computer technology, such as machine learning and big data, will give financiers access to tools for reliable data.

To withstand the fierce competition and increase their market share, top industry players are implementing methods like partnerships, acquisitions & mergers, collaborations, and agreements. For instance, a contract for strategic cooperation between Euler Hermes and Bisnode was inked in July 2020. As part of this agreement, Bisnode was required to provide local and international data to enable the servicing of credit insurance provided in Poland by Euler Hermes.

Shipments from Asian nations, particularly during the Asian financial crisis, were negatively impacted by the spread of regional financial crises. In certain cases, imports and exports were halted because confirming banks did not trust letters of credit issued in crisis-affected nations. Exporting SMEs were much more exposed during financial crises in Japan because SMEs were much more likely to be connected to failing banks.

The China market dominated the Asia Pacific Trade Credit Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,269.9 million by 2028. The Japan market is estimated to grow a CAGR of 11.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 13% during (2022 - 2028).

Based on Coverage, the market is segmented into Whole Turnover and Single Buyer. Based on Application, the market is segmented into International and Domestic. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Food & Beverage, Healthcare, Automotive, Energy, IT & Telecom and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

Free Valuable Insights: The Worldwide Trade Credit Insurance Market is Projected to reach USD 15.5 Billion by 2028, at a CAGR of 11.5%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allianz Trade(Allianz Group), Atradius N.V., Coface SA, American International Group, Inc., Zurich Insurance Group Ltd., Chubb Limited, QBE Insurance Group Limited, Great American Insurance Company, and AON Plc.

Scope of the Study

Market Segments Covered in the Report:

By Coverage

  • Whole Turnover
  • Single Buyer

By Application

  • International
  • Domestic

By Organization Size

  • Large Enterprises
  • SMEs

By Vertical

  • Food & Beverage
  • Healthcare
  • Automotive
  • Energy
  • IT & Telecom
  • Others

By Country

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:

  • Allianz Trade(Allianz Group)
  • Atradius N.V.
  • Coface SA
  • American International Group, Inc.
  • Zurich Insurance Group Ltd.
  • Chubb Limited
  • QBE Insurance Group Limited
  • Great American Insurance Company
  • AON Plc

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Related Reports:

Global Trade Credit Insurance Market Report 2022-2028

North America Trade Credit Insurance Market Report 2022-2028

Europe Trade Credit Insurance Market Report 2022-2028

LAMEA Trade Credit Insurance Market Report 2022-2028

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