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Commercial Auto Insurance in the US - Industry Market Research Report

Publisher IBISWorld
Published Nov 20, 2024
Length 74 Pages
SKU # IBSS19493726

Description

Commercial Auto Insurance in the US - Industry Market Research Report


Commercial Auto Insurance in the US

An expanding commercial auto insurance market has been instrumental to the growth of the commercial auto insurance industry's revenue over the past five years. Operators directly underwrite commercial liability, collision and comprehensive insurance policies, covering medical and property damage expenses resulting from business clients' vehicle accidents. A steady increase in e-commerce and transportation network company demand and a growing economy and vehicle fleet bolstered industry revenue. In 2020, because of the pandemic, expanded e-commerce and shipping activity increased demand for commercial auto insurance and thereby maintained premium rates, limiting the volatility the industry experienced that year. Overall, over the past five years, revenue has grown at a CAGR of 4.1% to $65.2 billion, including an expected 1.7% increase in 2023. Profit is expected to slump to 11.7% of revenue in 2023 from 11.9% in 2018.

This industry provides underwriting coverage for commercial cars, trucks, vans and other vehicles. This coverage is typically excluded from Business Owners’ Policies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

74 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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