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Product Warranty Insurance in the US - Industry Market Research Report

Publisher IBISWorld
Published Dec 01, 2024
Length 67 Pages
SKU # IBSS19493688

Description

Product Warranty Insurance in the US - Industry Market Research Report


Product Warranty Insurance in the US

The Product Warranty Insurance industry underwrites factory warranties for manufacturers and extended warranties for retailers and consumers. Product warranties insure major electronics, household appliances and other products against defects or damage and cover repair and replacement costs. Product warranty insurance providers have benefited from a jump in electronics prices, which has led to greater prices of premiums to insure these goods. Also, strong economic growth at the outset of the current period and the federal response to COVID-19 have benefited the industry, resulting in greater disposable income and a expanding housing market. These developments have resulted in more product purchases, ultimately generating new demand for product warranty insurance. Over the past five years, revenue has grown at a CAGR of 3.4% to $1.9 billion, including an expected decline of 0.2% in 2023. Profit is expected to climb to 15.3% of revenue in 2023, up from 14.5% in 2018.

This industry comprises operators primarily engaged in underwriting product warranty policies, which protect the buyer of the product from defects and damage. The industry excludes warranty programs for homes, automobiles and other vehicles. It also excludes companies that perform repair services for products under warranty.

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

67 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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