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Global Surety Market Research Report - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2033)

Published Aug 13, 2025
Length 170 Pages
SKU # LOOK20514455

Description

Definition and Scope:

In finance, a surety, surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a ""surety"" or as a ""guarantor"".

The global Surety market was valued at USD 16024.44 million in 2021 and is expected to reach USD 23190.21 million by the end of 2028, growing at a CAGR of 4.58% between 2022 and 2028.The deepening of global financial market reforms will be a key driver of market development. In recent years, the deepening of financial market reform and the advancement of financial innovation have provided good opportunities for the development of guarantee institutions. The emergence of various financial products and financing tools has provided more options for corporate financing and created a broader market for the development of guarantee business. For example, the development of the bond market, the rise of private equity funds, and the development of Internet finance have provided guarantee institutions with new business growth points. The adoption of PPPs is expected to continue to drive the growth of the surety market over the forecast period as governments and private sector players seek to collaborate on infrastructure development projects to meet rising demand.

In addition, the growth of the surety market in developing countries has also contributed an important impetus to the development of the surety market. The demand for innovative construction insurance is high in high-growth markets such as China, as the Belt and Road Initiative is expected to provide growth opportunities for the insurance market. Growing demand for innovative insurance solutions will be a major boost to the growth of the urban market.

At the same time, factors such as strengthened supervision, poor risk awareness, new entrants and more intense competition, unbalanced benefit and risk sharing mechanism, talent shortage, inflation and supply chain disruption will hinder the development of the surety market .

Segment by Type, the Surety can be split into Contract Surety Bond, Commercial Surety Bond, etc. Contract Surety Bond has a significant market share and has captured 41.18% of the market in 2021. Because they are primarily used in the construction industry, which is a major driver of the security market, these bonds are in high demand to ensure project completion, protect project owners and guarantee payment to subcontractors and suppliers. The size and value of construction projects contribute to the prominence of the contractually secured bond segment in the market. On the other hand, the commercial guaranteed bonds segment already held the largest market share of 53.75% in 2021 owing to its diverse applications across various industries and sectors. Wide applicability of commercial guaranteed bonds across different industries contributes to its high market share.

By application type, the Surety market can be split into Local and the International Underwriters. Local segment held a 75.99% market share in 2021, while the banking-backed Surety segment dominated the market. Local underwriters have in-depth knowledge of the local legal and regulatory framework, industry practices and market dynamics. They understand the specific requirements and nuances of the local market, enabling them to provide tailor-made guarantee solutions. This expertise gives local underwriters a significant competitive advantage in understanding and meeting the needs of clients in their respective regions. Additionally, bank-backed guarantee providers have the advantage of strong financial backing from established banking institutions. This financial strength gives them the ability to underwrite large projects, provide higher guarantee capacity and support complex transactions. The financial backing of banks boosts the confidence of clients and project owners, leading to a dominant position in the market.

On basis of geography, the Surety market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa, etc. Currently, the North America region contributes the highest market revenue. North America, especially the United States, has a thriving construction industry and significant infrastructure development projects. These projects require extensive use of deposits, primarily contract bonds, to secure contracts, secure project completion, and protect stakeholders. In addition, the North American market has a high degree of market maturity and awareness of the benefits and requirements of margin. Contractors, project owners and other stakeholders are well aware of the importance of surety bonds in reducing financial risk, securing project completion and protecting all parties to commercial transactions.

According to our calculations, the global Surety market is still in fierce competition. In 2021, the indicators used to measure market concentration, CR5 and HHI are 23.62% and 1.23% respectively. Key players in the market include Liberty Mutual Insurance Company, The Travelers Indemnity Company, Nationwide Mutual Insurance Company, Chubb, CNA Financial Corporation, Zurich Insurance Group, Allianz Trade, AXA XL, Tokio Marine HCC, The Hartford, Berkshire Hathaway Specialty Insurance, Int act US Insurance Group, Fairfax Financial (USA) Group, American Financial Group, Inc., IAT Insurance Group, Argo Group, Everest Re Group, Ltd., Sompo Holdings US Group, QBE Insurance Group Limited, Swiss Reinsurance Group.

This report offers a comprehensive analysis of the global Surety market, examining all key dimensions. It provides both a macro-level overview and micro-level market details, including market size, trends, competitive landscape, niche segments, growth drivers, and key challenges.

Report Framework and Key Highlights:

Market Dynamics: Identification of major market drivers, restraints, opportunities, and challenges.

Trend Analysis: Examination of ongoing and emerging trends impacting the market.

Competitive Landscape: Detailed profiles and market positioning of major players, including market share, operational status, product offerings, and strategic developments.

Strategic Analysis Tools: SWOT Analysis, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis

Market Segmentation: By type, application, region, and end-user industry.

Forecasting and Growth Projections: In-depth revenue forecasts and CAGR analysis through 2033.

This report equips readers with critical insights to navigate competitive dynamics and develop effective strategies. Whether assessing a new market entry or refining existing strategies, the report serves as a valuable tool for:

Industry players

Investors

Researchers

Consultants

Business strategists

And all stakeholders with an interest or investment in the Surety market.

Global Surety Market: Segmentation Analysis and Strategic Insights

This section of the report provides an in-depth segmentation analysis of the global Surety market. The market is segmented based on region (country), manufacturer, product type, and application. Segmentation enables a more precise understanding of market dynamics and facilitates targeted strategies across product development, marketing, and sales.

By breaking the market into meaningful subsets, stakeholders can better tailor their offerings to the specific needs of each segment—enhancing competitiveness and improving return on investment.

Global Surety Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Companies Profiled

Liberty Mutual Insurance Company

The Travelers Indemnity Company

Nationwide Mutual Insurance Company

Chubb

CNA Financial Corporation

Zurich Insurance Group

Allianz Trade

AXA XL

Tokio Marine HCC

The Hartford

Berkshire Hathaway Specialty Insurance

Intact US Insurance Group

Fairfax Financial (USA) Group

American Financial Group, Inc.

IAT Insurance Group

Argo Group

Everest Re Group, Ltd.

Sompo Holdings US Group

QBE Insurance Group Limited

Swiss Reinsurance Group

Market Segmentation by Type

Contract Surety Bond

Commercial Surety Bond

Court Surety Bond

Fidelity Surety Bond

Market Segmentation by Application

Local

International Underwriters

Geographic Segmentation

North America: United States, Canada, Mexico

Europe: Germany, France, Italy, U.K., Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium, Russia.

Asia-Pacific: China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Philippines, Singapore, Thailand

South America: Brazil, Argentina, Colombia.

Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates, Egypt, Nigeria, South Africa, Rest of MEA

Report Framework and Chapter Summary

Chapter 1: Report Scope and Market Definition

This chapter outlines the statistical boundaries and scope of the report. It defines the segmentation standards used throughout the study, including criteria for dividing the market by region, product type, application, and other relevant dimensions. It establishes the foundational definitions and classifications that guide the rest of the analysis.

Chapter 2: Executive Summary

This chapter presents a concise summary of the market’s current status and future outlook across different segments—by geography, product type, and application. It includes key metrics such as market size, growth trends, and development potential for each segment. The chapter offers a high-level overview of the Surety Market, highlighting its evolution over the short, medium, and long term.

Chapter 3: Market Dynamics and Policy Environment

This chapter explores the latest developments in the market, identifying key growth drivers, restraints, challenges, and risks faced by industry participants. It also includes an analysis of the policy and regulatory landscape affecting the market, providing insight into how external factors may shape future performance.

Chapter 4: Competitive Landscape

This chapter provides a detailed assessment of the market's competitive environment. It covers market share, production capacity, output, pricing trends, and strategic developments such as mergers, acquisitions, and expansion plans of leading players. This analysis offers a comprehensive view of the positioning and performance of top competitors.

Chapters 5–10: Regional Market Analysis

These chapters offer in-depth, quantitative evaluations of market size and growth potential across major regions and countries. Each chapter assesses regional consumption patterns, market dynamics, development prospects, and available capacity. The analysis helps readers understand geographical differences and opportunities in global markets.

Chapter 11: Market Segmentation by Product Type

This chapter examines the market based on product type, analyzing the size, growth trends, and potential of each segment. It helps stakeholders identify underexplored or high-potential product categories—often referred to as “blue ocean” opportunities.

Chapter 12: Market Segmentation by Application

This chapter analyzes the market based on application fields, providing insights into the scale and future development of each application segment. It supports readers in identifying high-growth areas across downstream markets.

Chapter 13: Company Profiles

This chapter presents comprehensive profiles of leading companies operating in the market. For each company, it details sales revenue, volume, pricing, gross profit margin, market share, product offerings, and recent strategic developments. This section offers valuable insight into corporate performance and strategy.

Chapter 14: Industry Chain and Value Chain Analysis

This chapter explores the full industry chain, from upstream raw material suppliers to downstream application sectors. It includes a value chain analysis that highlights the interconnections and dependencies across various parts of the ecosystem.

Chapter 15: Key Findings and Conclusions

The final chapter summarizes the main takeaways from the report, presenting the core conclusions, strategic recommendations, and implications for stakeholders. It encapsulates the insights drawn from all previous chapters.

Table of Contents

170 Pages
1 Introduction
1.1 Surety Market Definition
1.2 Surety Market Segments
1.2.1 Segment by Type
1.2.2 Segment by Application
2 Executive Summary
2.1 Global Surety Market Size
2.2 Market Segmentation – by Type
2.3 Market Segmentation – by Application
2.4 Market Segmentation – by Geography
3 Key Market Trends, Opportunity, Drivers and Restraints
3.1 Key Takeway
3.2 Market Opportunities & Trends
3.3 Market Drivers
3.4 Market Restraints
3.5 Market Major Factor Assessment
4 Global Surety Market Competitive Landscape
4.1 Global Surety Market Share by Company (2020-2025)
4.2 Surety Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.3 New Entrant and Capacity Expansion Plans
4.4 Mergers & Acquisitions
5 Global Surety Market by Region
5.1 Global Surety Market Size by Region
5.2 Global Surety Market Size Market Share by Region
6 North America Market Overview
6.1 North America Surety Market Size by Country
6.1.1 USA Market Overview
6.1.2 Canada Market Overview
6.1.3 Mexico Market Overview
6.2 North America Surety Market Size by Type
6.3 North America Surety Market Size by Application
6.4 Top Players in North America Surety Market
7 Europe Market Overview
7.1 Europe Surety Market Size by Country
7.1.1 Germany Market Overview
7.1.2 France Market Overview
7.1.3 U.K. Market Overview
7.1.4 Italy Market Overview
7.1.5 Spain Market Overview
7.1.6 Sweden Market Overview
7.1.7 Denmark Market Overview
7.1.8 Netherlands Market Overview
7.1.9 Switzerland Market Overview
7.1.10 Belgium Market Overview
7.1.11 Russia Market Overview
7.2 Europe Surety Market Size by Type
7.3 Europe Surety Market Size by Application
7.4 Top Players in Europe Surety Market
8 Asia-Pacific Market Overview
8.1 Asia-Pacific Surety Market Size by Country
8.1.1 China Market Overview
8.1.2 Japan Market Overview
8.1.3 South Korea Market Overview
8.1.4 India Market Overview
8.1.5 Australia Market Overview
8.1.6 Indonesia Market Overview
8.1.7 Malaysia Market Overview
8.1.8 Philippines Market Overview
8.1.9 Singapore Market Overview
8.1.10 Thailand Market Overview
8.2 Asia-Pacific Surety Market Size by Type
8.3 Asia-Pacific Surety Market Size by Application
8.4 Top Players in Asia-Pacific Surety Market
9 South America Market Overview
9.1 South America Surety Market Size by Country
9.1.1 Brazil Market Overview
9.1.2 Argentina Market Overview
9.1.3 Columbia Market Overview
9.2 South America Surety Market Size by Type
9.3 South America Surety Market Size by Application
9.4 Top Players in South America Surety Market
10 Middle East and Africa Market Overview
10.1 Middle East and Africa Surety Market Size by Country
10.1.1 Saudi Arabia Market Overview
10.1.2 UAE Market Overview
10.1.3 Egypt Market Overview
10.1.4 Nigeria Market Overview
10.1.5 South Africa Market Overview
10.2 Middle East and Africa Surety Market Size by Type
10.3 Middle East and Africa Surety Market Size by Application
10.4 Top Players in Middle East and Africa Surety Market
11 Surety Market Segmentation by Type
11.1 Evaluation Matrix of Segment Market Development Potential (Type)
11.2 Global Surety Market Share by Type (2020-2033)
12 Surety Market Segmentation by Application
12.1 Evaluation Matrix of Segment Market Development Potential (Application)
12.2 Global Surety Market Size (M USD) by Application (2020-2033)
12.3 Global Surety Sales Growth Rate by Application (2020-2033)
13 Company Profiles
13.1 Liberty Mutual Insurance Company
13.1.1 Liberty Mutual Insurance Company Company Overview
13.1.2 Liberty Mutual Insurance Company Business Overview
13.1.3 Liberty Mutual Insurance Company Surety Major Product Overview
13.1.4 Liberty Mutual Insurance Company Surety Revenue and Gross Margin fromSurety (2020-2025)
13.1.5 Key News
13.2 The Travelers Indemnity Company
13.2.1 The Travelers Indemnity Company Company Overview
13.2.2 The Travelers Indemnity Company Business Overview
13.2.3 The Travelers Indemnity Company Surety Major Product Overview
13.2.4 The Travelers Indemnity Company Surety Revenue and Gross Margin fromSurety (2020-2025)
13.2.5 Key News
13.3 Nationwide Mutual Insurance Company
13.3.1 Nationwide Mutual Insurance Company Company Overview
13.3.2 Nationwide Mutual Insurance Company Business Overview
13.3.3 Nationwide Mutual Insurance Company Surety Major Product Overview
13.3.4 Nationwide Mutual Insurance Company Surety Revenue and Gross Margin fromSurety (2020-2025)
13.3.5 Key News
13.4 Chubb
13.4.1 Chubb Company Overview
13.4.2 Chubb Business Overview
13.4.3 Chubb Surety Major Product Overview
13.4.4 Chubb Surety Revenue and Gross Margin fromSurety (2020-2025)
13.4.5 Key News
13.5 CNA Financial Corporation
13.5.1 CNA Financial Corporation Company Overview
13.5.2 CNA Financial Corporation Business Overview
13.5.3 CNA Financial Corporation Surety Major Product Overview
13.5.4 CNA Financial Corporation Surety Revenue and Gross Margin fromSurety (2020-2025)
13.5.5 Key News
13.6 Zurich Insurance Group
13.6.1 Zurich Insurance Group Company Overview
13.6.2 Zurich Insurance Group Business Overview
13.6.3 Zurich Insurance Group Surety Major Product Overview
13.6.4 Zurich Insurance Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.6.5 Key News
13.7 Allianz Trade
13.7.1 Allianz Trade Company Overview
13.7.2 Allianz Trade Business Overview
13.7.3 Allianz Trade Surety Major Product Overview
13.7.4 Allianz Trade Surety Revenue and Gross Margin fromSurety (2020-2025)
13.7.5 Key News
13.8 AXA XL
13.8.1 AXA XL Company Overview
13.8.2 AXA XL Business Overview
13.8.3 AXA XL Surety Major Product Overview
13.8.4 AXA XL Surety Revenue and Gross Margin fromSurety (2020-2025)
13.8.5 Key News
13.9 Tokio Marine HCC
13.9.1 Tokio Marine HCC Company Overview
13.9.2 Tokio Marine HCC Business Overview
13.9.3 Tokio Marine HCC Surety Major Product Overview
13.9.4 Tokio Marine HCC Surety Revenue and Gross Margin fromSurety (2020-2025)
13.9.5 Key News
13.10 The Hartford
13.10.1 The Hartford Company Overview
13.10.2 The Hartford Business Overview
13.10.3 The Hartford Surety Major Product Overview
13.10.4 The Hartford Surety Revenue and Gross Margin fromSurety (2020-2025)
13.10.5 Key News
13.11 Berkshire Hathaway Specialty Insurance
13.11.1 Berkshire Hathaway Specialty Insurance Company Overview
13.11.2 Berkshire Hathaway Specialty Insurance Business Overview
13.11.3 Berkshire Hathaway Specialty Insurance Surety Major Product Overview
13.11.4 Berkshire Hathaway Specialty Insurance Surety Revenue and Gross Margin fromSurety (2020-2025)
13.11.5 Key News
13.12 Intact US Insurance Group
13.12.1 Intact US Insurance Group Company Overview
13.12.2 Intact US Insurance Group Business Overview
13.12.3 Intact US Insurance Group Surety Major Product Overview
13.12.4 Intact US Insurance Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.12.5 Key News
13.13 Fairfax Financial (USA) Group
13.13.1 Fairfax Financial (USA) Group Company Overview
13.13.2 Fairfax Financial (USA) Group Business Overview
13.13.3 Fairfax Financial (USA) Group Surety Major Product Overview
13.13.4 Fairfax Financial (USA) Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.13.5 Key News
13.14 American Financial Group, Inc.
13.14.1 American Financial Group, Inc. Company Overview
13.14.2 American Financial Group, Inc. Business Overview
13.14.3 American Financial Group, Inc. Surety Major Product Overview
13.14.4 American Financial Group, Inc. Surety Revenue and Gross Margin fromSurety (2020-2025)
13.14.5 Key News
13.15 IAT Insurance Group
13.15.1 IAT Insurance Group Company Overview
13.15.2 IAT Insurance Group Business Overview
13.15.3 IAT Insurance Group Surety Major Product Overview
13.15.4 IAT Insurance Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.15.5 Key News
13.16 Argo Group
13.16.1 Argo Group Company Overview
13.16.2 Argo Group Business Overview
13.16.3 Argo Group Surety Major Product Overview
13.16.4 Argo Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.16.5 Key News
13.17 Everest Re Group, Ltd.
13.17.1 Everest Re Group, Ltd. Company Overview
13.17.2 Everest Re Group, Ltd. Business Overview
13.17.3 Everest Re Group, Ltd. Surety Major Product Overview
13.17.4 Everest Re Group, Ltd. Surety Revenue and Gross Margin fromSurety (2020-2025)
13.17.5 Key News
13.18 Sompo Holdings US Group
13.18.1 Sompo Holdings US Group Company Overview
13.18.2 Sompo Holdings US Group Business Overview
13.18.3 Sompo Holdings US Group Surety Major Product Overview
13.18.4 Sompo Holdings US Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.18.5 Key News
13.19 QBE Insurance Group Limited
13.19.1 QBE Insurance Group Limited Company Overview
13.19.2 QBE Insurance Group Limited Business Overview
13.19.3 QBE Insurance Group Limited Surety Major Product Overview
13.19.4 QBE Insurance Group Limited Surety Revenue and Gross Margin fromSurety (2020-2025)
13.19.5 Key News
13.20 Swiss Reinsurance Group
13.20.1 Swiss Reinsurance Group Company Overview
13.20.2 Swiss Reinsurance Group Business Overview
13.20.3 Swiss Reinsurance Group Surety Major Product Overview
13.20.4 Swiss Reinsurance Group Surety Revenue and Gross Margin fromSurety (2020-2025)
13.20.5 Key News
14 Key Market Trends, Opportunity, Drivers and Restraints
14.1 Key Takeway
14.2 Market Opportunities & Trends
14.3 Market Drivers
14.4 Market Restraints
14.5 Market Major Factor Assessment
14.6 Porter's Five Forces Analysis of Surety Market
14.7 PEST Analysis of Surety Market
15 Analysis of the Surety Industry Chain
15.1 Overview of the Industry Chain
15.2 Upstream Segment Analysis
15.3 Midstream Segment Analysis
15.3.1 Manufacturing, Processing or Conversion Process Analysis
15.3.2 Key Technology Analysis
15.4 Downstream Segment Analysis
15.4.1 Downstream Customer List and Contact Details
15.4.2 Customer Concerns or Preference Analysis
16 Conclusion
17 Appendix
17.1 Methodology
17.2 Research Process and Data Source
17.3 Disclaimer
17.4 Note
17.5 Examples of Clients
17.6 Disclaimer
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