The Global Logistics Insurance market size was valued at USD 67.11 Billion in 2021 and is projected to reach USD 78.69 Billion by 2028, growing at a CAGR of 2.3% from 2022 to 2028.Over the analysis period 2023-2030
The insurance policy that is particularly created to cover the commodities in any mode of transportation, including air, sea, land, and train, is known as Logistics Insurance. It provides coverage for cargo against a broad variety of physical losses or damages to freight resulting from external causes while in transit. The merchandise is transported around the globe via land, sea, train, or air. The likelihood of hauled items and products becoming lost or destroyed throughout the trip is very high. Cargo insurance can help in these situations by covering the loss. As no shipment is ever perfectly secure during transit and insurance is the only method to be compensated if something goes wrong, cargo insurance is crucial to the supply chain business.
Major Key Players for Logistics Insurance Market:
Aon PLC, Atrium Corporation,Beazley Group,Gard AS,Liberty Mutual Insurance,Mitsui Sumitomo Insurance Company Limited,Peoples Insurance Agency,Samsung Fire & Marine Insurance Co. Ltd.,Sompo Japan Nipponkoa Insurance Inc.,Swiss Re Ltd,Tokio Marine Holdings Inc and other key players
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Logistics Insurance Market Segmentation:
By Type
- Land Cargo Insurance
- Marine Cargo Insurance
- Air Transport Insurance
By Coverage Type
- Cargo Insurance
- Freight Forwarder Liability Insurance
- Marine services liability
- Energy logistics
- Other
By End User
- Individual
- Enterprises
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Key Offerings:
- Market Size & Forecast by Revenue 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product Type, End-Users, Form, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
COVID-19 Impact on Logistics Insurance Market
The COVID-19 pandemic had a direct impact on logistics companies, which are involved in the flow, storage, and transfer of commodities. Logistics companies enable trade and commerce and assist companies in getting their products to clients as an essential component of value chains both domestically and beyond international borders. Therefore, supply chain interruptions brought on by the pandemic could affect the sector's competitiveness, economic expansion, and job creation. China was the first country to see the effects of COVID-19 because of its importance to a global industry (200 Fortune Global 500 Firms have a presence there).
Report includes Competitor's Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Action Figures And Statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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