The Global Trade Credit Insurance Market is Predict to reach $15.5 Billion by 2028, at a CAGR of 11.5%

Published Date: 20-Jan-2023

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Trade Credit Insurance Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Trade Credit Insurance Market size is expected to reach $15.5 billion by 2028, rising at a market growth of 11.5% CAGR during the forecast period.

The Single Buyer segment is showcasing a CAGR of 12.3% during (2022 - 2028). The credit limit provided, which enables underwriters to cover all financial activities with the customer, can be credited with the segment's expansion. This approach offers a highly specialized defense against both political and economic dangers.

The International segment acquired maximum revenue share in the Global Trade Credit Insurance Market by Application in 2021 thereby, achieving a market value of $8.8 billion by 2028. Throughout the forecast period, this application segment is anticipated to maintain its leadership position in the market. The benefits include providing the exporter with a conditional guarantee that payment will still be made if the overseas buyer is unable to make payments, considerably decreasing the payment risks related to conducting business internationally.

The SMEs segment has shown the growth rate of 13% during (2022 - 2028). Due to the fact that a large portion of their sales is dependent on credit from customers, SMEs in the trade credit industry is experiencing cash flow issues. Because trade finance focuses more on the trade itself than the underlying borrower, SMEs receive assistance from TCI. Additionally, governments all across the world are attempting to promote SMEs by adopting various initiatives.

The Food & Beverage segment is leading the Global Trade Credit Insurance Market by Vertical in 2021 thereby, achieving a market value of $3.7 billion by 2028. It is anticipated that the market would remain dominant all across the forecast period. This can be ascribed to the food and beverage industry's rising demand for and implementation of TCI. Additionally, there are frequent bankruptcies and small profit margins in the sector. Changes in customer expectations, including the desire for higher-quality components, are a risk and could also be problematic.

The Europe market dominated the Global Trade Credit Insurance Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.3 billion by 2028. The North America market is exhibiting a CAGR of 11.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 12.3% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Trade Credit Insurance Market Segmentation

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 Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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

Unique Offerings from KBV Research

  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Related Reports:

North America Trade Credit Insurance Market Future Scope & Opportunities 2022-2028

Europe Trade Credit Insurance Market Size & Growth Forecast 2022-2028

Asia Pacific Trade Credit Insurance Market Size, Share & Industry Outlook to 2028

LAMEA Trade Credit Insurance Market Growth, Trends & Forecasts 2022-2028

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