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In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Credit Insurance market for 2018-2023.
Trade credit insurance or credit insurance is an insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy. Credit insurance product is a type of property and casualty insurance.
The global Credit Insurance market is expected to witness expansion in the near future. The credit insurance market is a huge market with low penetration. This market has a huge yet unrealized potential. Regulatory and insolvency frameworks vary widely between different countries, and although there is generally an upward trend in corporate insolvencies, the differences in frameworks and in reporting standards make comparison difficult. These factors have contributed to an increased awareness of and focus on trade risks on credit.
Three major European groups - Euler Hermes, Atradius and Coface - dominate the market internationally, with a combined market share in 2016 of over 72%.
Geographically, the global Credit Insurance has been segmented into Western Europe, Eastern Europe, North America, Latin America, Middle East & Africa and Asia-Pacific. The Europe held the largest share in the global Credit Insurance market, its revenue of global market exceeds 72% in 2016. The next position is America. China and India have being the most populous country has fast growing Credit Insurance market.
Over the next five years, LPI(LP Information) projects that Credit Insurance will register a 2.0% CAGR in terms of revenue, reach US$ 8560 million by 2023, from US$ 7750 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Credit Insurance market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
- Type I
- Type II
Segmentation by application:
- Domestic Trade
- Export Trade
We can also provide the customized separate regional or country-level reports, for the following regions:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
- Euler Hermes
- Credendo Group
- QBE Insurance
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Credit Insurance market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Credit Insurance market by identifying its various subsegments.
- Focuses on the key global Credit Insurance players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Credit Insurance with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of Credit Insurance submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.