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India Extended Warranty Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The India extended warranty market is expected to exhibit a CAGR of 11.65% during 2023-2028. 

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 2023-2028. Our report has categorized the market based on coverage, application, distribution channel and end user.

Breakup by Coverage:

  • 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 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million
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$ 2299
Five User License: US$ 3399
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 India extended warranty market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the India extended warranty 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 application?
  • What is the breakup of the market based on the distribution channel?
  • 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 India extended warranty 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   India Extended Warranty 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 Protection Plan
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Accidental Protection Plan
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Application
    7.1    Automobiles
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Consumer Electronics
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Home Appliances
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Mobile Devices and PCs
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Distribution Channel
    8.1    Manufacturers
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Retailers
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by End User
    9.1    Individuals
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Business
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by Region
    10.1    North India
        10.1.1 Market Trends
        10.1.2 Market Breakup by State
        10.1.3 Market Forecast
    10.2    West and Central India
        10.2.1 Market Trends
        10.2.2 Market Breakup by State
        10.2.3 Market Forecast
    10.3    South India
        10.3.1 Market Trends
        10.3.2 Market Breakup by State
        10.3.3 Market Forecast
    10.4    East India 
        10.4.1 Market Trends
        10.4.2 Market Breakup by State
        10.4.3 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  Policy and Regulatory Landscape
16  Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players

List of Figures

Figure 1: India: Extended Warranty Market: Major Drivers and Challenges
Figure 2: India: Extended Warranty Market: Sales Value (in Million US$), 2017-2022
Figure 3: India: Extended Warranty Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: India: Extended Warranty Market: Breakup by Coverage (in %), 2022
Figure 5: India: Extended Warranty Market: Breakup by Application (in %), 2022
Figure 6: India: Extended Warranty Market: Breakup by Distribution Channel (in %), 2022
Figure 7: India: Extended Warranty Market: Breakup by End User (in %), 2022
Figure 8: India: Extended Warranty Market: Breakup by Region (in %), 2022
Figure 9: India: Extended Warranty (Standard Protection Plan) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: India: Extended Warranty (Standard Protection Plan) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: India: Extended Warranty (Accidental Protection Plan) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: India: Extended Warranty (Accidental Protection Plan) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: India: Extended Warranty (Automobiles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: India: Extended Warranty (Automobiles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: India: Extended Warranty (Consumer Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: India: Extended Warranty (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: India: Extended Warranty (Home Appliances) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: India: Extended Warranty (Home Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: India: Extended Warranty (Mobile Devices and PCs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: India: Extended Warranty (Mobile Devices and PCs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: India: Extended Warranty (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: India: Extended Warranty (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: India: Extended Warranty (Manufacturers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: India: Extended Warranty (Manufacturers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: India: Extended Warranty (Retailers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: India: Extended Warranty (Retailers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: India: Extended Warranty (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: India: Extended Warranty (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: India: Extended Warranty (Individuals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: India: Extended Warranty (Individuals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: India: Extended Warranty (Business) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: India: Extended Warranty (Business) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North India: Extended Warranty Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North India: Extended Warranty Market: Breakup by State (in %), 2022
Figure 35: North India: Extended Warranty Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: West and Central India: Extended Warranty Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: West and Central India: Extended Warranty Market: Breakup by State (in %), 2022
Figure 38: West and Central India: Extended Warranty Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: South India: Extended Warranty Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: South India: Extended Warranty Market: Breakup by State (in %), 2022
Figure 41: South India: Extended Warranty Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: East India: Extended Warranty Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: East India: Extended Warranty Market: Breakup by State (in %), 2022
Figure 44: East India: Extended Warranty Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: India: Extended Warranty Industry: SWOT Analysis
Figure 46: India: Extended Warranty Industry: Value Chain Analysis
Figure 47: India: Extended Warranty Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: India: Extended Warranty Market: Key Industry Highlights, 2022 and 2028
Table 2: India: Extended Warranty Market Forecast: Breakup by Coverage (in Million US$), 2023-2028
Table 3: India: Extended Warranty Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: India: Extended Warranty Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 5: India: Extended Warranty Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: India: Extended Warranty Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: India: Extended Warranty Market: Competitive Structure
Table 8: India: Extended Warranty Market: Key Players


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