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Two-Wheeler Insurance Market Global Market Report 2022 - Growing Number of Traffic Accidents and Regulatory Requirements for Adoption of Two-Wheeler Insurance
Dublin, May 09, 2022 (GLOBE NEWSWIRE) -- The "Two-Wheeler Insurance Market by Policy Type, Distribution Channel and Vehicle Age: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Although two-wheeler insurance requirements vary from state to state, bodily injury liability and property damage liability coverage has been mandated in many jurisdictions before using or keeping a vehicle on public roads. The two-wheeler insurance market exhibits high growth potential, as the number of road accidents is increasing in most countries across the globe.
Furthermore, along with the mandatory coverage, the Motor Vehicle Act revised penalties against violation of possession of a basic compulsory third-party policy, which has brought many uninsured vehicles in the insurance domain. All these factors contribute toward increase in the sales of two-wheeler insurance policies.
A rise in the number of accidents, implementation of stringent government regulations for adoption of two-wheeler insurance and an increase in automobile sales globally due to a surge in per capita income of consumers are the major factors that drive growth of the global two-wheeler insurance market. Moreover, adoption of autonomous vehicles hamper growth of the market. Furthermore, implementation of technologies in existing products and service lines and rise in demand for third-party liability coverage in emerging economies are expected to provide lucrative opportunities for the market expansion during the forecast period.
The global two-wheeler insurance market is segmented into policy type, distribution channel, vehicle age, and region. In terms of policy type, it is fragmented into third party liability coverage and comprehensive coverage. By distribution channel, it is segregated into insurance agents/brokers, direct response, banks, and others. As per vehicle age, it is divided into new vehicle and used vehicle. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Report Benefits:
The study provides an in-depth analysis of the global two-wheeler insurance market forecast along with the current trends and future estimations to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key Forces Shaping Two-Wheeler Insurance Market
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Rise in number of traffic accidents
3.3.1.2. Regulatory requirements for adoption of two-wheeler insurance
3.3.2. Restraint
3.3.2.1. Lack of awareness regarding two-wheeler insurance policy
3.3.3. Opportunities
3.3.3.1. Increase in demand for two-wheeler insurance products and services
3.3.3.2. Implementation of technologies in existing product and service lines
3.4. COVID-19 impact analysis on two-wheeler insurance market
3.4.1. Impact on market size
3.4.2. Change in consumer trends, preferences, and budget impact due to COVID-19
3.4.3. Economic impact
3.4.4. Key player strategies to tackle negative impact in the industry
3.4.5. Opportunity analysis for 2-wheeler providers
CHAPTER 4: TWO-WHEELER INSURANCE MARKET, BY POLICY TYPE
4.1. Overview
4.2. Third-Party Liability Insurance
4.3. Comprehensive Insurance
CHAPTER 5: TWO-WHEELER INSURANCE MARKET, BY DISTRIBUTION CHANNEL
5.1. Overview
5.2. Insurance agents/brokers
5.3. Direct response/insurance companies
5.4. Others
CHAPTER 6: TWO-WHEELER INSURANCE MARKET, BY VEHICLE AGE
6.1. Overview
6.2. New vehicle
6.3. Used vehicle
CHAPTER 7: TWO-WHEELER INSURANCE MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast, by region
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Key players positioning analysis, 2020
8.2. Competitive dashboard
8.3. Top winning strategies
CHAPTER 9: COMPANY PROFILES
State Farm Mutual Automobile Insurance
GEICO
Allstate Insurance Company
Bajaj Allianz General Insurance
Farmers
Dairyland
Liberty General Insurance Ltd.
ACKO General Insurance Limited
Progressive Casualty Insurance Company
USAA
For more information about this report visit https://www.researchandmarkets.com/r/teeatq
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