United States 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

United States 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: SR112024A5975
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Market Overview:

The United States extended warranty market size reached US$ 59.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 98.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.

Report Attribute
 Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 59.1 Billion
Market Forecast in 2032 US$ 98.3 Billion
Market Growth Rate (2024-2032) 5.4%


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 segment of the United States extended warranty market report, along with forecasts at the country and regional levels from 2024-2032. 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
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$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
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?

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United States 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
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