NEW YORK, November 3, 2022 /PRNewswire/ — The “Automated Warranty Market by End User (personal and commercial) and Geography (North America, EuropeAPAC, South Americaand The Middle East and Africa) – Forecast and Analysis 2022-2026″ has been added to Technavio’s offering. ISO 9001:2015 certified, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years.
The potential growth differential for auto extended warranty market size between 2021 and 2026 is USD 12.05 billion. To get the exact annual growth variance and YOY growth rate, Request a FREE PDF Sample Report.
Key Market Dynamics
The flexible pricing schemes and the high demand for extended warranty from the automobile industry are some of the key market drivers. However, factors such as expansion of service portfolio by vendors will challenge the market growth.
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Market Segmentation
According to end user, the personal segment will contribute significantly to the growth of the market during the forecast period. Dealers are focusing on offering extended warranty programs for cars, including mobile insurance, extended service plans, and protection plans for various businesses such as manufacturers and retailers. Additionally, increasing car ownership among individuals around the world is fueling the demand for extended car warranty. Thus, the personal segment is expected to drive the growth of the global auto extended warranty market during the forecast period.
By geography, North America to be the leading region with 41% market growth during the forecast period. The USA is an important country for the extended car warranty market in the region.
Find additional insights into the contribution of all segments and regional opportunities in the report. Buy Now for detailed segment information
Some Companies Mention their Origins
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AAA Warranty Services – The company offers extended auto warranties for cars, used cars, and tires and wheels.
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The Allstate Corp. – The company offers extended auto warranties, such as vehicle service contracts, mechanical breakdown insurance, and vehicle theft protection.
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AmTrust Financial Services Inc. – The company offers an automatic extended warranty for dealers, agents, third party administrators, and manufacturers.
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Assurant Inc. – The company offers an automatic extended warranty to extend the current manufacturer’s warranty period using an insured product.
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AXA Group – The company offers automatic extended warranty from suppliers such as Carchex care by Royal.
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Carchex LLC – The company offers extended auto warranty with coverage plans such as Diamond, Platinum, Gold, Silver, motorcycle and electric vehicles.
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CarShield – The company offers extended auto warranty such as powertrain, premium and advanced protection plans.
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Edel Assurance LLP – The company offers automatic extended warranties such as secure, advantage and premium coverage plans.
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Hyundai Motor Co – The company offers an extended auto warranty for engine and transmission, electrical components, AC systems, and instrument clusters.
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Allianz SE
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Asurion LLC
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Concord Auto Protect
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Corporate Warranties India Pvt. Ltd.
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Durability Warranty Services LLC
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Repair Joint Ventures LLC
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Tata Motors Ltd.
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Auto Extended Warranty Market Scope |
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Report Cover |
Details |
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Page number |
120 |
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Primary year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.55% |
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Market growth 2022-2026 |
USD 12.05 billion |
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Market structure |
Fragmented |
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YoY Growth (%) |
4.56 |
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Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
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Fulfill market contribution |
North America at 41% |
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Main consumer countries |
USA, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, scope of consumer involvement |
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Companies profiled |
AAA Warranty Services, Allianz SE, The Allstate Corp., AmTrust Financial Services Inc., Assurant Inc., Asurion LLC, AXA Group, Carchex LLC, CarShield, Concord Auto Protect, Corporate Warranties India Pvt. Ltd., Edel Assurance LLP, Endurance Warranty Services LLC, Hyundai Motor Co, Repair Ventures LLC, and Tata Motors Ltd. |
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Market Dynamics |
Parenteral market analysis, market growth inducers and barriers, fast growing and slow growing segment analysis, impact of COVID-19 and future consumer dynamics, and market condition analysis for the forecast period. |
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Custom view |
If the data you are looking for is not included in our report, you can contact our analysts and customize the sections. |
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The Main Topics Covered
1 Executive Summary
2 Market Landscape
3 Market Size
4 Five Forces Analysis
5 Market Segmentation by End User
6 The Customer Landscape
7 Geographical Landscape
8 Drivers, Challenges, and Trends
9 Seller Landscape
10 Vendor Analysis
11 Appendix
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