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United States Extended Warranty Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The United States extended warranty market is expected to exhibit a CAGR of XX% 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. These insights are included in the report as a major market contributor.

An extended warranty, also known as a service contract, is a policy that extends the warranty duration of a durable consumer good beyond the offer provided by the manufacturer. It is provided by retailers and third-party service providers for automobiles and electronic appliances. It compensates for the cost of replacing or repairing the product if it is damaged due to a manufacturing defect or improper installation. In addition, it helps keep the product running smoothly and hassle-free while saving money. It also ensures complete guidance and technical assistance from the skilled staff of the service provider to repair the product.

United States Extended Warranty Market Trends:

The growing demand for extended warranties among the masses for the protection of electrical and mechanical expenses, such as oil changes and tire replacement, represents one of the key factors driving the market in the United States. In addition, there is a rise in the demand for extended warranties in the country as they provide additional revenue to product manufacturers, resellers, and service providers. This, along with increasing consumer preferences for a hassle-free post-sales experience, is propelling the growth of the market. Besides this, there is an increase in the demand for extended warranties as they cover routine maintenance and accidental damages, such as liquid spillage, thefts, or cracked screens. This, coupled with the growing concerns among consumers about the safety of electronic devices after the expiration of the original warranty, is catalyzing the demand for extended warranties in the US. Moreover, key market players are offering hassle-free replacements, on-site services, and digitizing extended warranty processes for faster claim settlements, which is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States extended warranty market, along with forecasts at the country and regional level from 2022-2027. 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:

  • Northeast
  • Midwest
  • South
  • West
     

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 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Coverage, Application, Distribution Channel, End User, Region
Region Covered Northeast, Midwest, South, West
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:

  • How has the United States 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 United States 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 United States 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    United States 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    Northeast
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Midwest
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    South
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    West
        10.4.1 Market Trends
        10.4.2 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: United States: Extended Warranty Market: Major Drivers and Challenges
Figure 2: United States: Extended Warranty Market: Sales Value (in Million US$), 2016-2021
Figure 3: United States: Extended Warranty Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: United States: Extended Warranty Market: Breakup by Coverage (in %), 2021
Figure 5: United States: Extended Warranty Market: Breakup by Application (in %), 2021
Figure 6: United States: Extended Warranty Market: Breakup by Distribution Channel (in %), 2021
Figure 7: United States: Extended Warranty Market: Breakup by End User (in %), 2021
Figure 8: United States: Extended Warranty Market: Breakup by Region (in %), 2021
Figure 9: United States: Extended Warranty (Standard Protection Plan) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: United States: Extended Warranty (Standard Protection Plan) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: United States: Extended Warranty (Accidental Protection Plan) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: United States: Extended Warranty (Accidental Protection Plan) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: United States: Extended Warranty (Automobiles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: United States: Extended Warranty (Automobiles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: United States: Extended Warranty (Consumer Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: United States: Extended Warranty (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: United States: Extended Warranty (Home Appliances) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: United States: Extended Warranty (Home Appliances) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: United States: Extended Warranty (Mobile Devices and PCs) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: United States: Extended Warranty (Mobile Devices and PCs) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: United States: Extended Warranty (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: United States: Extended Warranty (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: United States: Extended Warranty (Manufacturers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: United States: Extended Warranty (Manufacturers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: United States: Extended Warranty (Retailers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: United States: Extended Warranty (Retailers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: United States: Extended Warranty (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: United States: Extended Warranty (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: United States: Extended Warranty (Individuals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: United States: Extended Warranty (Individuals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: United States: Extended Warranty (Business) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: United States: Extended Warranty (Business) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Northeast: Extended Warranty Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Northeast: Extended Warranty Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Midwest: Extended Warranty Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Midwest: Extended Warranty Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: South: Extended Warranty Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: South: Extended Warranty Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: West: Extended Warranty Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: West: Extended Warranty Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: United States: Extended Warranty Industry: SWOT Analysis
Figure 42: United States: Extended Warranty Industry: Value Chain Analysis
Figure 43: United States: Extended Warranty Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: United States: Extended Warranty Market: Key Industry Highlights, 2021 and 2027
Table 2: United States: Extended Warranty Market Forecast: Breakup by Coverage (in Million US$), 2022-2027
Table 3: United States: Extended Warranty Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: United States: Extended Warranty Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: United States: Extended Warranty Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: United States: Extended Warranty Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: United States: Extended Warranty Market: Competitive Structure
Table 8: United States: Extended Warranty Market: Key Players


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