Trade Credit Insurance Market Growth, Size, Trends, Revenue, Scope, Challenges and Future Share: SPER Market Research

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Published: Jul 2023	Report ID: BFSI2332	Pages: 1 - 228	Formats^*:
Category : BFSI

Introduction and Overview Trade Credit Insurance Market

According to SPER Market Research, the Global Trade Credit Insurance Market is estimated to reach USD 30.11 billion by 2033 with a CAGR of 8.81%.

The report includes an in-depth analysis of the Global Trade Credit Insurance Market, including market size and trends, product mix, distribution channels, and supplier analysis. Trade credit insurance, commonly referred to as credit insurance or export credit insurance, is a kind of insurance that guards companies against the possibility that their clients won't pay them. It is made to protect companies against financial losses brought on by commercial transactions involving the sale of products or services on credit with the expectation of future payment.

Increasing Global Trade: As global commerce and cross-border transactions increase, trade credit insurance is increasingly necessary. Businesses that deal internationally run the danger of having clients abroad not paying them or going bankrupt. Trade credit insurance offers security and encourages companies to enlarge their worldwide reach and seek new markets.

Access to Financing: Trade credit insurance raises a company's creditworthiness and increases its capacity to get funding. Businesses with trade credit insurance coverage are more likely to receive credit or loans from lenders since it lowers the risk of non-payment and provides extra security for their investment.

Market Opportunities and Challenges

Opportunities for Trade Credit Insurance market

Increasing Global Trade: The market for trade credit insurance has a considerable opportunity due to the ongoing expansion of global commerce. Trade credit insurance is increasingly necessary as organisations diversify their activities abroad to handle credit risks and guard against non-payment.

Small and Medium Enterprises (SMEs): Despite having a significant impact on the global economy, SMEs struggle to manage credit risks owing to a lack of resources and stable finances. Small and medium-sized businesses (SMEs) have the chance to safeguard their cash flow and reduce the risk of non-payment, enabling them to conduct more extensive trade operations and reach new markets.

One of the major challenges for Trade Credit Insurance market

Lack of Awareness and Understanding: Despite the advantages of trade credit insurance, some organisations might not yet be aware of or comprehend its worth. It's essential for market expansion to inform potential consumers about the benefits of trade credit insurance and debunk common misunderstandings.

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Market Competitive Landscape

The global insurance companies Euler Hermes, Atradius, and Coface, who dominate the market with their extensive coverage and risk assessment services, are part of the fiercely competitive trade credit insurance sector. These established corporations are frequently supplemented by local, specialised businesses that serve certain markets or niche market groups. Insurtech businesses are also expanding, utilising technology to provide cutting-edge solutions. Pricing, coverage details, risk assessment tools, and customer service are just a few examples of the variables that influence market competition. Businesses consistently spend money on data analytics and technology to improve operations and the customer experience. Overall, the trade credit insurance market's competitive environment is dynamic and ever-changing.

Scope of the Report:

Report Metric	Details
Market size available for years	2019-2033
Base year considered	2022
Forecast period	2023-2033
Segments covered	By Component, By Coverage, By Enterprises Size, By Industry Vertical, By Application
Regions covered	Asia Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered	American International Group Inc., Aon plc, Axa S.A., China Export & Credit Insurance Corporation, Chubb Limited (ACE Limited), Coface, Euler Hermes (Allianz SE), Export Development Canada, Nexus Underwriting Management Ltd., QBE Insurance Group Limited, Willis Towers Watson Public Limited Company and Zurich Insurance Group Ltd.

COVID-19 Impact on Global Trade Credit Insurance Market

The pandemic's extensive economic disruptions, like as supply chain delays, decreased consumer demand, and company closures, have increased credit risks and financial uncertainty for enterprises. Due to the increase in claims, trade credit insurance companies are having trouble accurately assessing and pricing risks. It is now more challenging to effectively estimate and manage credit risks because to increasing market volatility and uncertainty brought on by the epidemic. The epidemic has brought attention to trade credit insurance, meanwhile, which is crucial for controlling credit risks and safeguarding cash flow. The necessity of such protection to prevent against non-payment or insolvency is now more understood by businesses.

Key Target Audience

Businesses and Corporations
Exporters and Importers
Financial Institutions and Lenders
Government and Trade Associations
Industry-Specific Businesses
Supply Chain Participants

Our in-depth analysis of the Trade Credit Insurance Market includes the following segments:

By Component:	Product Services
By Coverages:	Single Buyer Coverage Whole Turnover Coverage
By Enterprises Size:	Large Enterprises Medium Enterprises Small Enterprises
By Industry Vertical:	Automotive Energy and Utilities Food and Beverages Healthcare IT and Telecom Metals and Mining Others
By Application:	Domestic International

Key Topics Covered in the Report

Global Trade Credit Insurance Market Size (FY’2023-FY’2033)
Overview of Global Trade Credit Insurance Market
Segmentation of Global Trade Credit Insurance Market By Component (Product, Services)
Segmentation of Global Trade Credit Insurance Market By Coverage (Single Buyer Coverage, Whole Turnover Coverage)
Segmentation of Global Trade Credit Insurance Market By Enterprises Size (Large Enterprises, Medium Enterprises, Small Enterprises)
Segmentation of Global Trade Credit Insurance Market By Industry Vertical (Automotive, Energy and Utilities, Food and Beverages, Healthcare, IT and Telecom, Metals and Mining, Others)
Segmentation of Global Trade Credit Insurance Market By Application (Domestic, International)
Statistical Snap of Global Trade Credit Insurance Market
Expansion Analysis of Global Trade Credit Insurance Market
Problems and Obstacles in Global Trade Credit Insurance Market
Competitive Landscape in the Global Trade Credit Insurance Market
Impact of COVID-19 and Demonetization on Global Trade Credit Insurance Market
Details on Current Investment in Global Trade Credit Insurance Market
Competitive Analysis of Global Trade Credit Insurance Market
Prominent Players in the Global Trade Credit Insurance Market
SWOT Analysis of Global Trade Credit Insurance Market
Global Trade Credit Insurance Market Future Outlook and Projections (FY’2023-FY’2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source

2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s

2.2. Market size estimation

2.2.1. Top-down and Bottom-up approach

2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis

4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges

4.2. COVID-19 Impacts of the Global Trade Credit Insurance Market

5. Market variable and outlook

5.1. SWOT Analysis

5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats

5.2. PESTEL Analysis

5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape

5.3. PORTER’s Five Forces

5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry

5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Trade Credit Insurance Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Trade Credit Insurance Market

7. Global Trade Credit Insurance Market, By Component (USD Million)

7.1. Global Trade Credit Insurance Market Value Share and Forecast, By Component, 2023-2033
7.2. Product
7.3. Services

8. Global Trade Credit Insurance Market, By Coverages (USD Million)

8.1. Global Trade Credit Insurance Market Value Share and Forecast, By Coverages, 2023-2033
8.2. Single Buyer Coverage
8.3. Whole Turnover Coverage

9. Global Trade Credit Insurance Market, By Enterprises Size (USD Million)

9.1. Global Trade Credit Insurance Market Value Share and Forecast, By Enterprises Size, 2023-2033
9.2. Large Enterprises
9.3. Medium Enterprises
9.4. Small Enterprises

10. Global Trade Credit Insurance Market, By Industry Vertical (USD Million)

10.1. Global Trade Credit Insurance Market Value Share and Forecast, By Industry Vertical, 2023-2033
10.2. Automotive
10.3. Energy and Utilities
10.4. Food and Beverages
10.5. Healthcare
10.6. IT and Telecom
10.7. Metals and Mining
10.8. Others

11. Global Trade Credit Insurance Market, By Application (USD Million)

11.1. Global Trade Credit Insurance Market Value Share and Forecast, By Application, 2023-2033
11.2. Domestic
11.3. International

12. Global Trade Credit Insurance Market Forecast, 2019-2033 (USD Million)

12.1. Global Trade Credit Insurance Market Size and Market Share

13. Global Trade Credit Insurance Market, By Component, 2019-2033 (USD Million)

13.1. Global Trade Credit Insurance Market Size and Market Share By Component (2019-2026)
13.2. Global Trade Credit Insurance Market Size and Market Share By Component (2027-2033)

14. Global Trade Credit Insurance Market, By Coverages, 2019-2033 (USD Million)

14.1. Global Trade Credit Insurance Market Size and Market Share By Coverages (2019-2026)
14.2. Global Trade Credit Insurance Market Size and Market Share By Coverages (2027-2033)

15. Global Trade Credit Insurance Market, By Enterprise Size, 2019-2033 (USD Million)

15.1. Global Trade Credit Insurance Market Size and Market Share By Enterprise Size (2019-2026)
15.2. Global Trade Credit Insurance Market Size and Market Share By Enterprise Size (2027-2033)

16. Global Trade Credit Insurance Market, By Industry Vertical, 2019-2033 (USD Million)

16.1. Global Trade Credit Insurance Market Size and Market Share By Industry Vertical (2019-2026)
16.2. Global Trade Credit Insurance Market Size and Market Share By Industry Vertical (2027-2033)

17. Global Trade Credit Insurance Market, By Application, 2019-2033 (USD Million)

17.1. Global Trade Credit Insurance Market Size and Market Share By Application (2019-2026)
17.2. Global Trade Credit Insurance Market Size and Market Share By Application (2027-2033)

18. Global Trade Credit Insurance Market, By Region, 2019-2033 (USD Million)

18.1. Global Trade Credit Insurance Market Size and Market Share By Region (2019-2026)
18.2. Global Trade Credit Insurance Market Size and Market Share By Region (2027-2033)
18.3. Asia-Pacific

18.3.1. Australia
18.3.2. China
18.3.3. India
18.3.4. Japan
18.3.5. South Korea
18.3.6. Rest of Asia-Pacific

18.4. Europe

18.4.1. France
18.4.2. Germany
18.4.3. Italy
18.4.4. Spain
18.4.5. United Kingdom
18.4.6. Rest of Europe

18.5. Middle East and Africa

18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa

18.6. North America

18.6.1. Canada
18.6.2. Mexico
18.6.3. United States

18.7. Latin America

18.7.1. Argentina
18.7.2. Brazil
18.7.3. Rest of Latin America

19. Company Profile

19.1. American International Group Inc.

19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments

19.2. Aon plc, Axa S.A.

19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments

19.3. China Export & Credit Insurance Corporation

19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments

19.4. Chubb Limited

19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments

19.5. Coface

19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments

19.6. Euler Hermes

19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments

19.7. Export Development Canada

19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments

19.8. Nexus Underwriting Management Ltd.

19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments

19.9. QBE Insurance Group Limited

19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments

19.10. Willis Towers Watson Public Limited Company

19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments

19.11. Zurich Insurance Group Ltd.

19.11.1. Company details
19.11.2. Financial outlook
19.11.3. Product summary
19.11.4. Recent developments

19.12. Others

20. List of Abbreviations

21. Reference Links

22. Conclusion

23. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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SPER-Methodology-2

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Frequently Asked Questions About This Report

How big is the Trade Credit Insurance Market?

Trade Credit Insurance Market is projected to reach USD 30.11 billion by 2033, growing at a CAGR of 8.81% during the forecast period.

What is the growth rate of the Trade Credit Insurance Market?

Trade Credit Insurance Market grew in market size from 2022. The Market is expected to reach USD 30.11 billion by 2033, at a CAGR of 8.81% during the forecast period.

What is the anticipated CAGR of the Trade Credit Insurance Market?

Trade Credit Insurance Market CAGR of 8.81% during the forecast period.

How can I get a sample report on the Trade Credit Insurance Market?

You can get the sample pages by clicking the link - Click Here

What is the market size of the Trade Credit Insurance Market?

Trade Credit Insurance Market size is USD 30.11 billion from 2023 to 2033.

Which segment is expected to Trade Credit Insurance Market?

Trade Credit Insurance Market Segment is covered By Component, By Coverage, By Enterprises Size, By Industry Vertical, By Application.

Which region is expected to have the highest market share in the Trade Credit Insurance Market?

The North America is anticipated to have the highest market share in the Trade Credit Insurance Market.

What is the conclusion of the Trade Credit Insurance Market?

Trade credit insurance, commonly referred to as credit insurance or export credit insurance, is a kind of insurance that guards companies against the possibility that their clients won't pay them.

Who are the key players in Trade Credit Insurance Market?

The key players in the market include Companies Covered American International Group Inc., Aon plc, Axa S.A., China Export & Credit Insurance Corporation, Chubb Limited (ACE Limited), Coface, Euler Hermes (Allianz SE), Export Development Canada, Nexus Underwriting Management Ltd., QBE Insurance Group Limited, Willis Towers Watson Public Limited Company and Zurich Insurance Group Ltd.