India Extended Warranty Market Report by Coverage (Standard Protection Plan, Accidental Protection Plan), Application (Automobiles, Consumer Electronics, Home Appliances, Mobile Devices and PCs, and Others), Distribution Channel (Manufacturers, Retailers, and Others), End User (Individuals, Business), and Region 2024-2032

India Extended Warranty Market Report by Coverage (Standard Protection Plan, Accidental Protection Plan), Application (Automobiles, Consumer Electronics, Home Appliances, Mobile Devices and PCs, and Others), Distribution Channel (Manufacturers, Retailers, and Others), End User (Individuals, Business), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6404
Buy Now

Market Overview:

The India extended warranty market size reached US$ 3.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10.4% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 3.6 Billion
Market Forecast in 2032
US$ 8.7 Billion
Market Growth Rate 2024-2032 10.4%


An extended warranty refers to a policy that extends beyond the manufacturer's guarantee to cover the repair and maintenance of a product. It is offered by original equipment manufacturers (OEMs), retailers, and third-party vendors for service-related claims, such as maintenance, repair, or replacement. An extended warranty provides enhanced protection against the failure of parts, increases product life, reduces the financial burden of repairs, and enhances customer satisfaction. It also offers coverage against various product defects or normal wear and tears after the expiration of the initial warranty. As a result, an extended warranty is generally offered on high-value items, automobiles, consumer electronics, mobile devices, and personal computers (PCs).

India Extended Warranty Market Trends:

The rapid proliferation of electronic devices, such as smartphones, laptops, tablets, and wearables, is creating a positive outlook for the market in India. An extended warranty maintains product safety and provides protection by covering routine maintenance and accidental damage, such as liquid spillage, theft, or cracked screen. In line with this, rising concerns among consumers regarding the safety of their electronic devices are favoring the market growth. Furthermore, increasing post-sale management startups in the country that are providing centralized platforms to households and micro, small, and medium-sized enterprises (MSMEs) to purchase an extended warranty, receive warranty notification, and access one-touch customer services is acting as another growth-inducing factor. Additionally, the integration of artificial intelligence (AI)-driven data and insight to provide personalized and unique risk cover, proactive loss prevention, and warranty-as-a-service (WaaS) model is providing an impetus to the market growth. Moreover, the increasing demand for extended warranty in the automotive industry to maintain vehicle value, extend product life, and cover labor costs, complex part replacements, and repair is positively influencing the market growth. Other factors, including increasing awareness regarding the benefits of an extended warranty, rapid digitization for faster claim settlements, rising expenditure capacities of consumers, and increasing costs of repair and maintenance, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India extended warranty market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on coverage, application, distribution channel and end user.

Breakup by Coverage:

India Extended Warranty Market

  • Standard Protection Plan
  • Accidental Protection Plan
     

Breakup by Application:

  • Automobiles
  • Consumer Electronics
  • Home Appliances
  • Mobile Devices and PCs
  • Others
     

Breakup by Distribution Channel:

  • Manufacturers
  • Retailers
  • Others
     

Breakup by End User:

  • Individuals
  • Business
     

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Coverage, Application, Distribution Channel, End User, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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

We expect the India extended warranty market to exhibit a CAGR of 10.4% during 2024-2032.

The rising consumer preferences toward a hassle-free post-sales experience, along with the growing demand for extended warranty, as it offers value-added services, such as hassle-free replacements and on-site services, are primarily driving the India extended warranty market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of extended warranty claims among the individuals via online portals, due to the changing consumer inclination from conventional brick-and-mortar platforms towards e-commerce channels.

Based on the coverage, the India extended warranty market has been divided into standard protection plan and accidental protection plan, where standard protection plan currently exhibits a clear dominance in the market.

Based on the application, the India extended warranty market can be categorized into automobiles, consumer electronics, home appliances, mobile devices and PCs, and others. Currently, automobiles account for the majority of the total market share.

Based on the distribution channel, the India extended warranty market has been segregated into manufacturers, retailers, and others. Among these, manufacturers exhibit a clear dominance in the market.

Based on the end user, the India extended warranty market can be bifurcated into individuals and business. Currently, individuals hold the largest market share.

On a regional level, the market has been classified into North India, West and Central India, South India, and East India.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
India Extended Warranty Market Report by Coverage (Standard Protection Plan, Accidental Protection Plan), Application (Automobiles, Consumer Electronics, Home Appliances, Mobile Devices and PCs, and Others), Distribution Channel (Manufacturers, Retailers, and Others), End User (Individuals, Business), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARATI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More
DEinternational Egypt

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

Read More