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Boiler Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global boiler insurance market size reached US$ 9.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.5 Billion by 2027, exhibiting a growth rate (CAGR) of 15.57% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Boiler insurance refers to a type of insurance designed to cover the damages and losses caused by explosions inside or outside the boiler. A boiler is a steel pressure vessel in which fluids are heated at extremely high temperatures to generate steam or vapor. The vapors exit the boiler for use in various processes or heating applications, including water heating, central heating, boiler-based power generation, cooking and sanitation. The insurance provides coverage for the physical damages and financial loss incurred by repairing or replacing the damaged equipment after the breakdown. The insurance also covers the cost of replacing perishable goods, which are spoiled due to the failed equipment.

 

 
 

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Boiler Insurance Market Trends:

Rapid digitization in the insurance sector, along with increasing requirement for reducing the maintenance and repairing costs associated with boilers and other equipment, is one of the key factors driving the growth of the market. Moreover, small and medium-sized enterprises are expanding their businesses and relying more on third-party liability coverage solutions to mitigate their risks and losses, which is providing a thrust to the market growth. Insurance providers are introducing novel strategies and policies to increase revenue and enhance the overall customer experience. Additionally, various technological advancements, such as the integration of connected devices with voice-enabled troubleshooting services, are acting as other growth-inducing factors. These novel solutions enable the consumers to use advanced artificial intelligence (AI)-based services to connect directly with the organization and seek redressal in real-time. Other factors, including rapid industrialization, along with the advent of insurance policies with cost-effective premium rates, are acting as other growth-inducing factors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global boiler insurance market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on boiler type, boiler fuel, coverage type and end user.

Breakup by Boiler Type:

 

 
 

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  • Fire-Tube 
  • Water-Tube
     

Breakup by Boiler Fuel:

  • Natural Gas
  • Coal
  • Oil 
  • Others
     

Breakup by Coverage Type:

  • Boiler Cover
  • Boiler and Central Heating Cover 
  • Boiler, Central Heating, Plumbing and Wiring Cover
     

Breakup by End User:

  • Chemicals
  • Refineries
  • Metal and Mining
  • Food and Beverages 
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aviva plc, Axa S.A., Bosch Thermotechnology Ltd. (Robert Bosch GmbH), British Gas (Centrica PLC), CORGI HomePlan Ltd (OVO Group Ltd), Domestic & General Group Limited, Future Generali India Insurance Co. Ltd., HomeServe Membership Ltd., Tata AIG General Insurance Company Limited (Tata Sons Private Limited), The Hartford Steam Boiler Inspection and Insurance Company and YourCare Services Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Boiler Type, Boiler Fuel, Coverage Type, End User, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aviva plc, Axa S.A., Bosch Thermotechnology Ltd. (Robert Bosch GmbH), British Gas (Centrica PLC), CORGI HomePlan Ltd (OVO Group Ltd), Domestic & General Group Limited, Future Generali India Insurance Co. Ltd., HomeServe Membership Ltd., Tata AIG General Insurance Company Limited (Tata Sons Private Limited), The Hartford Steam Boiler Inspection and Insurance Company and YourCare Services Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the global boiler insurance market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global boiler insurance market?
  • What are the key regional markets?
  • What is the breakup of the market based on the boiler type?
  • What is the breakup of the market based on the boiler fuel?
  • What is the breakup of the market based on the coverage type?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global boiler insurance market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Boiler Insurance Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Boiler Type
    6.1    Fire-Tube
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Water-Tube
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Boiler Fuel
    7.1    Natural Gas
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Coal
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Oil
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8   Market Breakup by Coverage Type
    8.1    Boiler Cover
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Boiler and Central Heating Cover
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Boiler, Central Heating, Plumbing and Wiring Cover
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by End User
    9.1    Chemicals
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Refineries
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Metal and Mining
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Food and Beverages
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Aviva plc
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Axa S.A.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Bosch Thermotechnology Ltd. (Robert Bosch GmbH)
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
        15.3.4    British Gas (Centrica PLC)
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    CORGI HomePlan Ltd (OVO Group Ltd)
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6    Domestic & General Group Limited
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 SWOT Analysis
        15.3.7    Future Generali India Insurance Co. Ltd.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    HomeServe Membership Ltd.
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    Tata AIG General Insurance Company Limited (Tata Sons Private Limited)
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    The Hartford Steam Boiler Inspection and Insurance Company
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
        15.3.11    YourCare Services Ltd.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio

List of Figures

Figure 1: Global: Boiler Insurance Market: Major Drivers and Challenges
Figure 2: Global: Boiler Insurance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Boiler Insurance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Boiler Insurance Market: Breakup by Boiler Type (in %), 2021
Figure 5: Global: Boiler Insurance Market: Breakup by Boiler Fuel (in %), 2021
Figure 6: Global: Boiler Insurance Market: Breakup by Coverage Type (in %), 2021
Figure 7: Global: Boiler Insurance Market: Breakup by End User (in %), 2021
Figure 8: Global: Boiler Insurance Market: Breakup by Region (in %), 2021
Figure 9: Global: Boiler Insurance (Fire-Tube) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Boiler Insurance (Fire-Tube) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Boiler Insurance (Water-Tube) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Boiler Insurance (Water-Tube) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Boiler Insurance (Natural Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Boiler Insurance (Natural Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Boiler Insurance (Coal) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Boiler Insurance (Coal) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Boiler Insurance (Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Boiler Insurance (Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Boiler Insurance (Other Boiler Fuels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Boiler Insurance (Other Boiler Fuels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Boiler Insurance (Boiler Cover) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Boiler Insurance (Boiler Cover) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Boiler Insurance (Boiler and Central Heating Cover) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Boiler Insurance (Boiler and Central Heating Cover) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Boiler Insurance (Boiler, Central Heating, Plumbing and Wiring Cover) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Boiler Insurance (Boiler, Central Heating, Plumbing and Wiring Cover) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Boiler Insurance (Chemicals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Boiler Insurance (Chemicals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Boiler Insurance (Refineries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Boiler Insurance (Refineries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Boiler Insurance (Metal and Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Boiler Insurance (Metal and Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Boiler Insurance (Food and Beverages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Boiler Insurance (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Boiler Insurance (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Boiler Insurance (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: North America: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: United States: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: United States: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Canada: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Canada: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Asia-Pacific: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Asia-Pacific: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: China: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: China: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Japan: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Japan: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: India: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: India: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: South Korea: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: South Korea: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Australia: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Australia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Indonesia: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Indonesia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Europe: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Europe: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Germany: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Germany: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: France: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: France: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: United Kingdom: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: United Kingdom: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Italy: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Italy: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Spain: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Spain: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Russia: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Russia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Latin America: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Latin America: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Brazil: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Brazil: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Mexico: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Mexico: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Others: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Middle East and Africa: Boiler Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Middle East and Africa: Boiler Insurance Market: Breakup by Country (in %), 2021
Figure 85: Middle East and Africa: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Global: Boiler Insurance Industry: SWOT Analysis
Figure 87: Global: Boiler Insurance Industry: Value Chain Analysis
Figure 88: Global: Boiler Insurance Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Boiler Insurance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Boiler Insurance Market Forecast: Breakup by Boiler Type (in Million US$), 2022-2027
Table 3: Global: Boiler Insurance Market Forecast: Breakup by Boiler Fuel (in Million US$), 2022-2027
Table 4: Global: Boiler Insurance Market Forecast: Breakup by Coverage Type (in Million US$), 2022-2027
Table 5: Global: Boiler Insurance Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Boiler Insurance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Boiler Insurance Market: Competitive Structure
Table 8: Global: Boiler Insurance Market: Key Players


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