BANGALORE, India, Jan. 4, 2021 /PRNewswire/ -- The Credit Insurance
Market is Segmented by Type (Domestic Trade, Export Trade), by
Application (Buyer: Turnover below EUR 5
Million, Buyer: Turnover above EUR 5
Million), Key Vendors and Regional Growth: Global
Opportunity Analysis and Industry Forecast, 2021 - 2026. This
report is published on Valuates Reports in the Insurance
Category.
The global Credit Insurance Market size is projected to reach
USD 13600 Million by 2026, from
USD 12000 Million in 2020, at a CAGR
of 2.1% during 2021-2026.
Credit insurance is an insurance policy and a risk management
product provided to business organizations by private insurance
providers and government export credit agencies to cover their
receivables from defaults due to credit risk.
Uncertainty about global affairs, such as trade tensions between
the US and China, and Brexit,
means that companies – particularly those looking to grow through
foreign trade – are facing increased volatility. As the volatility
increases, the credit insurance market size is also expected to
grow.
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TRENDS INFLUENCING THE CREDIT INSURANCE MARKET SIZE
The growth of SMEs is expected to fuel the growth of credit
insurance market size. Small and medium-sized businesses across the
globe often face issues related to their accounts receivable when
exporting or trading in domestic and foreign markets. Failure to
pay invoices impacts these small and medium-sized businesses. This
risk is constantly rising across geographies, and businesses are
looking for robust solutions to get rid of the threat. That is
why small and medium-sized businesses in developed countries and
few developing countries are increasingly drawn to credit
insurance.
Credit insurance offers various competitive benefits such as,
identifying potential losses, help transfer the risk to the
insurer's balance sheet, and reduces bad debt provision. These
advantages are in turn expected to increase the growth of credit
insurance market size.
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CREDIT INSURANCE MARKET SHARE ANALYSIS
Based on region, the Asia
Pacific is expected to hold the largest credit insurance
market share during the forecast period. The key drivers for the
credit insurance sector in Asia-Pacific have been China's policy stimulus for credit insurance,
the increased role of export credit insurance, and the liberalized
export credit market in conjunction with rising SME
participation.
Europe is also expected to hold
a significant credit insurance market share during the forecast
period. This is attributed to the presence of major lending
companies that offer credit insurance services.
Global Credit Insurance market: regional analysis, the major
regions covered in the report are:
North America
Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
Middle East &
Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of Middle East &
Africa
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CREDIT INSURANCE MARKET SEGMENTATION
by Type, the market is primarily split into
- Domestic Trade
- Export Trade.
by Application, this report covers the following
segments
- Buyer: Turnover below EUR 5
Million
- Buyer: Turnover above EUR 5
Million.
The Credit Insurance key Companies in this market
include:
- Sinosure
- Euler Hermes
- Atradius
- Coface
- Zurich
- Credendo Group
- QBE Insurance
- Cesce.
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SIMILAR REPORTS :
- Trade Credit Insurance Market: Major factors driving the
growth of the Trade Credit Insurance Market size are the increase
in trade activities among small enterprises, growing financial
risks, and the rising conditions of bankruptcies on the buyer's
side.
Top companies in the trade credit insurance market size include
American International Group Inc., EULER HERMES, Zurich Insurance
Group Ltd., The Coface Group, Marsh Inc., Atradius N.V., Catlin
Group Limited, Firestop Contractors International Association, QBE
Insurance Group Limited, and Trade Credit Reinsurance Company.
- B2B2C Insurance Market is Segmented by Type
On-line, Off-line, by Application Banks and Financial Institutions,
Automotive, Retailers, Health Care and by various regions.
- Business Travel Insurance Market size is projected
to reach USD 7426.6 Million by 2026,
from USD 4502.1 Million in 2020, at a
CAGR of 8.7% during 2021-2026. Europe is estimated to hold the largest
Business Travel Insurance Market share (about 35%) during the
forecast period.
- Business Insurance Market is Segmented by Type
Commercial Property Insurance, Commercial Health Insurance, by
Application Small and Medium-Sized Companies, Personal, Large
Corporations and by various regions.
- Reinsurance Market size was USD 254.90 Billion and it is expected to reach
USD 318.90 Billion by the end of
2025, with a CAGR of 3.3% during 2019-2025.
- Trade Finance Market size was valued at
USD 8942.27 Billion in 2019, due to
Covid-19, the market drop to USD 7616.52
Billion by -14.83% in 2020, and it is expected to reach
USD 10426.67 Billion by the end of
2026, growing at a CAGR of 5.37% during 2020-2026.
- Travel Insurance Market size was valued at
USD 19.2 Billion in 2019 and is
projected to reach USD 39.3 Billion
by 2027, growing at a CAGR of 17.4% from 2020 to 2027. The report
focuses on the growth prospects, restraints, and trends of the
travel insurance market analysis.
- Blockchain In Trade Finance and Credit Insurance
Market is Segmented by Type Cross-border, Non Cross-border, by
Application Small and Medium-Sized Enterprises (SMES), Large
Enterprise and by various regions.
- The Microfinance Market is Segmented by Type Banks,
Non-Banks, by Application Manufacturing/Production, Agriculture,
Trade & Services, Household Finance and by various regions.
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Market
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