Fact.MR uses a bottom-up data collection approach for collecting Usage Insurance market demand side historical and base year data. The historical and base year Usage Insurance market sizing is based on the vehicle production and vehicle parc (fleet on road). For OEM Usage Insurance market analysis, the team tracks the vehicle production across the prominent countries/regions and then cross map the same with the average usage of the product in a type of vehicle (passenger car, light commercial vehicle, heavy commercial vehicle, and two wheeler). For aftermarket, the team tracks the vehicle parc (vehicle-on-road) for prominent countries/regions and cross map the same with the replacement rate of the product in a given year for each vehicle type.
Newly released data from Fact.MR market Analysis shows that global demand of the Usage Insurance market accounted for almost US$ 30 Bn in 2020 and is projected to reach nearly US$ 150 Bn by 2031, expanding 5x across the 2021-2031 forecast period.
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Key Segments Covered
A comprehensive estimate of the Usage Insurance market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Usage Insurance during the forecast period. Price point comparison by region with the global average price is also considered in the study.
The secondary research includes Usage Insurance market data and information presentations by researchers, institutions, company annual reports, investor presentations, annual filings, scholarly journals, white papers, research documents, trade journals, and other sources such as International Organization of Motor Vehicle Manufacturers (OICA), Society of Indian Automobile Manufacturers (SIAM), Japan Automobile Manufacturers Association, Inc. (JAMA), ASEAN Automotive Federation (AAF), Korea Automobile Manufacturers Association (KAMA), European Automobile Manufacturers Association (ACEA), The Society of Motor Manufacturers and Traders Ltd (SMMT), , The World Bank, International Monetary Fund (IMF), and MarkLines among others.
Some Notable Offerings by Fact.MR Report on Usage Insurance market:
Some of the Usage Insurance Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
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Fact.MR offers an all-inclusive study on the market, highlighting the chief growth driver and key restraints. It also uncovers the hidden prospects for market players. Some of the key takeaways from the report are:
Competitive Landscape
Major players with a prominent share in the market are focusing on expanding their customer base.
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