Cargo Transportation Insurance Market Overview: Market Size, Major Drivers And Trends
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The cargo transportation insurance market (27) rose from $54.72 billion in 2023 to $57.06 billion in 2024, with a CAGR of 4.3%, due to trade expansion. Anticipated growth to $65.91 billion by 2028, with a CAGR of 3.7%, is driven by e-commerce and data analytics adoption.
The rising marine transportation sector is driving growth in the cargo transportation insurance market. With an increase in international marine trade flows, there is a growing need for cargo transportation insurance to protect against risks during transit.
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What Are The Key Trends That Influence Cargo Transportation Insurance Market Share Analysis?
Technological advancements are enhancing the cargo transportation insurance market. In May 2023, Breeze, in collaboration with Ceedbox and Cardinal Global Logistics, launched an automated insurance solution. This technology reduces manual errors and discrepancies, offering efficient cargo insurance coverage, particularly for Cardinal’s clients, by streamlining processes and ensuring accuracy.
Which Market Players Are Driving Growth In The Cargo Transportation Insurance Market?
Major companies operating in the cargo transportation insurance market report are Axa SA, Generali, Lloyd’s of London, American International Group Inc., The Phoenix Insurance Company Ltd., Tokio Marine, Chubb Corp., Swiss Reinsurance Company Ltd., Zurich Insurance Group Ltd., Sompo International, Travelers Companies Inc., Marsh LLC, Samsung Fire and Marine Insurance Co. Ltd., QBE Insurance Group, Aon PLC, Markel Corporation, HDI Global, Arthur J. Gallagher and Co., Allianz SE, Hanover Insurance Group, Lockton Companies Inc., Hiscox, Great American Insurance Group, Mitsui Sumitomo Insurance, RSA Insurance Group, C&S Insurance Agency Inc., Liberty General Insurance Ltd., Progressive Services Co.
How Is The Global Cargo Transportation Insurance Market Segmented?
The cargo transportation insurance market covered in this report is segmented –
1) By Type: Land Cargo Insurance, Air Cargo Insurance, Marine Cargo Insurance, Parcel Transportation Insurance
2) By Forms Of Transport: Sea Transport, Domestic Rail Transport, International Rail Transport, Domestic Road Transport, International Road Transport, Air Transport
3) By Policy Type: Open Cover Cargo Policy, Specific Cargo Policy, Contingency Insurance Policy
4) By Application: Logistics industry, Transportation industry, Insurance industry, Other Applications
Read The Full Cargo Transportation Insurance Market Report Here
The Cargo Transportation Insurance Global Market Report 2024 provides an overview of the cargo transportation insurancemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cargo transportation insurance market forecast analyzes cargo transportation insurance market size, cargo transportation insurance market share, leading competitor and their market positions.
The Table Of Content For The Cargo Transportation Insurance Market Include
1. Cargo Transportation Insurance Market Executive Summary
2. Cargo Transportation Insurance Market Segments
3. Cargo Transportation Insurance Market Size And Template Market Growth Rate
4. Key Cargo Transportation Insurance Market Trends
5. Major Cargo Transportation Insurance Market Drivers
……
25. Key Mergers And Acquisitions In The Cargo Transportation Insurance Market
26. Top Cargo Transportation Insurance Companies
27. Cargo Transportation Insurance Market Opportunities And Strategies
28. Cargo Transportation Insurance Market, Conclusions And Recommendations
29. Appendix
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