Global Commercial Automobile Insurance Market (2021 to 2030) – Opportunity Analysis and Industry Forecast –

DUBLIN–(BUSINESS WIRE)–The report “Commercial Automobile Insurance Market by Distribution Channel, Coverage Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2030” has been added to from offer.

Commercial auto insurance is a physical damage and liability coverage policy for amounts, situations, and use not covered by a personal auto insurance policy. Additionally, it offers a variety of coverages for cars, trucks, vans, and other vehicles used for business purposes.

Generally, large fleets and small businesses usually prefer two major coverages such as physical damage insurance and liability insurance. Bodily Injury Liability, Property Damage Liability, Combined Single Limit (CSL), Medical Payments, Bodily Injury or No Fault, Uninsured Motorist, Full Bodily Damage and Collision are some of the leading commercial auto insurance coverages on the market.

There is an increase in the number of road accidents and commercial auto insurance provides financial security in the form of medical injury or any other damage to the vehicle owner, which is driving the growth of the market. Additionally, increased use of commercial vehicles and strict government guidelines for commercial auto insurance are driving the market growth. These factors are notably contributing to the growth of the global commercial auto insurance market.

However, as commercial vehicles are large in size and require expensive maintenance, insurance premiums for these vehicles are usually higher, which hampers the growth of the market. On the contrary, the increase in the number of technological advancements that help insurers integrate distribution platforms into this existing business model to improve productivity to deliver commercial auto insurance coverage seamlessly at the point of sale. Furthermore, the surge in the adoption of commercial auto insurance in emerging economies and the rapid digitalization of the insurance industry are expected to provide lucrative opportunities for market growth in the coming years.

The commercial auto insurance market is segmented into distribution channel, coverage type, vehicle type, and region. By distribution channel, the market is segmented into brokers and agents, direct response, banks and others. By type of coverage, it is divided into liability coverage and collision/complex/optional coverage. The vehicle types covered by the study include light commercial vehicles and heavy trucks. The light commercial vehicle segment is further separated into new vehicles and used vehicles. Regionally, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Key Benefits

  • The study provides an in-depth analysis of the global Commercial Motor Insurance market along with current trends and future estimates to illustrate impending investment pockets.

  • Information on the major drivers, restraints and opportunities and their impact analysis on the global Commercial Motor Insurance market size is provided in the report.

  • Porter’s five forces analysis illustrates the power of buyers and suppliers operating in the industry.

  • The quantitative analysis of the global commercial auto insurance market from 2021 to 2030 is provided to determine the market potential.

Market dynamics


  • Strict government guidelines regarding commercial auto insurance

  • Increase in the number of road accidents

  • Increased use of utility vehicles


  • Expensive commercial auto insurance policies


  • Implementation of technology in the field of commercial automobile insurance

Key market segments

By distribution channel

  • Brokers and agents

  • Direct response

  • Banks

  • Others

By type of coverage

  • Liability insurance

  • Collision/Full/Optional Coverage

By type of vehicle

  • Light commercial vehicle

  • New vehicles

  • Used vehicles

  • Heavyweight

By region

  • North America

  • we

  • Canada

  • Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Netherlands

  • The rest of Europe

  • Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Rest of Asia-Pacific


  • Latin America

  • Middle East

  • Africa

Main market players

  • Allianz

  • American International Group Inc.

  • Aon plc

  • Aviva

  • AXA

  • Berkshire Hathaway Inc.

  • Chubb

  • Liberty Mutual Insurance Company

  • Willis Towers Watson

  • Zürich

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