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

Market Overview:

The global fire insurance market reached a value of US$ 63.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 99.5 Billion by 2027 exhibiting a growth rate (CAGR) of 7.30% 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.

Fire insurance refers to a type of property insurance that provides coverage for damage and losses incurred due to a fire outbreak. It is generally available as an add-on cover that the individual can purchase by paying some extra amount. It is designed to reimburse the costs of replacement, reconstruction and repair of the insured property destroyed or damaged in a fire accident. Nowadays, insurance companies offer policies that also cover property damage or loss caused by firefighters, water or smoke. As a result, fire insurance has gained traction among businesses since it protects them from the financial burden in case of a fire breakout. 

 

 
 

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Fire Insurance Market Trends:

A significant rise in fire accidents and the growing need for financial security due to rising uncertainties represent the primary factors driving the market. Besides this, the increasing awareness about numerous benefits offered by fire insurance among the masses is another major growth-inducing factor. Additionally, the leading players are launching new policies with more comprehensive coverage, affordable premiums and benefits to expand their customer base and gain a competitive edge. This, in confluence with the implementation of favorable government policies and stringent safety standards, is catalyzing the product demand. For instance, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated general insurers to provide three standard products, namely Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha, and Bharat Laghu Udyam Suraksha, for homeowners and enterprises. These products will cover the home building and content, plant, machinery, stocks, furniture, and other assets. Furthermore, easy claim settlements, increasing consumer expenditure capacities and several product innovations are some of the other factors providing a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fire insurance market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on coverage, enterprise size and industry vertical.

Breakup by Coverage:

 

 
 

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  • Standard Coverage
  • Optional Coverage
     

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises
     

Breakup by Industry Vertical:

  • Manufacturing
  • Healthcare
  • Energy and Utilities
  • Retail and Consumer Goods
  • IT and Telecom
  • Hospitality
  • 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 Allianz SE, Amica Mutual Insurance Company, Assicurazioni Generali S.p.A., Axa S.A., Liberty Mutual Fire Insurance Company, Ping An Insurance Company of China Ltd., State Farm Insurance, The Allstate Corporation, The Government Employees Insurance Company and United Services Automobile Association.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Coverage, Enterprise Size, Industry Vertical, 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 Allianz SE, Amica Mutual Insurance Company, Assicurazioni Generali S.p.A., Axa S.A., Liberty Mutual Fire Insurance Company, Ping An Insurance Company of China Ltd., State Farm Insurance, The Allstate Corporation, The Government Employees Insurance Company and United Services Automobile Association.
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 fire 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 fire insurance market?
  • What are the key regional markets?
  • What is the breakup of the market based on the coverage?
  • What is the breakup of the market based on the enterprise size?
  • What is the breakup of the market based on the industry vertical?
  • 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 fire 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 Fire Insurance Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Coverage
    6.1    Standard Coverage
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Optional Coverage
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Enterprise Size
    7.1    Large Enterprises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Small and Medium-sized Enterprises
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Industry Vertical
    8.1    Manufacturing
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Healthcare
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Energy and Utilities
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Retail and Consumer Goods
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    IT and Telecom
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Hospitality
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Allianz SE
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Amica Mutual Insurance Company
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 SWOT Analysis
        14.3.3    Assicurazioni Generali S.p.A.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Axa S.A.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Liberty Mutual Fire Insurance Company
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 SWOT Analysis
        14.3.6    Ping An Insurance Company of China Ltd.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    State Farm Insurance
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 SWOT Analysis
        14.3.8    The Allstate Corporation
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    The Government Employees Insurance Company
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 SWOT Analysis
        14.3.10    United Services Automobile Association
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 SWOT Analysis

List of Figures

Figure 1: Global: Fire Insurance Market: Major Drivers and Challenges
Figure 2: Global: Fire Insurance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Fire Insurance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Fire Insurance Market: Breakup by Coverage (in %), 2021
Figure 5: Global: Fire Insurance Market: Breakup by Enterprise Size (in %), 2021
Figure 6: Global: Fire Insurance Market: Breakup by Industry Vertical (in %), 2021
Figure 7: Global: Fire Insurance Market: Breakup by Region (in %), 2021
Figure 8: Global: Fire Insurance (Standard Coverage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Fire Insurance (Standard Coverage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Fire Insurance (Optional Coverage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Fire Insurance (Optional Coverage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Fire Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Fire Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Fire Insurance (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Fire Insurance (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Fire Insurance (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Fire Insurance (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Fire Insurance (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Fire Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Fire Insurance (Energy and Utilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Fire Insurance (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Fire Insurance (Retail and Consumer Goods) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Fire Insurance (Retail and Consumer Goods) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Fire Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Fire Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Fire Insurance (Hospitality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Fire Insurance (Hospitality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Fire Insurance (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Fire Insurance (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: North America: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: North America: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: United States: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Canada: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Canada: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Asia-Pacific: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Asia-Pacific: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: China: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: China: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Japan: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Japan: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: India: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: India: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: South Korea: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: South Korea: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Australia: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Australia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Indonesia: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Indonesia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Others: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Europe: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Europe: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Germany: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Germany: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: France: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: France: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: United Kingdom: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: United Kingdom: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Italy: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Italy: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Spain: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Spain: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Russia: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Russia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Latin America: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Latin America: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Brazil: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Brazil: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Mexico: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Mexico: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Middle East and Africa: Fire Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Middle East and Africa: Fire Insurance Market: Breakup by Country (in %), 2021
Figure 78: Middle East and Africa: Fire Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Global: Fire Insurance Industry: SWOT Analysis
Figure 80: Global: Fire Insurance Industry: Value Chain Analysis
Figure 81: Global: Fire Insurance Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Fire Insurance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Fire Insurance Market Forecast: Breakup by Coverage (in Million US$), 2022-2027
Table 3: Global: Fire Insurance Market Forecast: Breakup by Enterprise Size (in Million US$), 2022-2027
Table 4: Global: Fire Insurance Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027
Table 5: Global: Fire Insurance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Fire Insurance Market: Competitive Structure
Table 7: Global: Fire Insurance Market: Key Players


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