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Asia Pacific Motor Insurance Market

Asia Pacific Motor Insurance Market

Asia Pacific Motor Insurance Market, By Coverage (Liability Coverage, Collision Coverage, Comprehensive Insurance); By Vehicle Age (New Vehicles, Old Vehicles); By Vehicle Type (Commercial Vehicles, Personal Vehicles); By Distribution Channel (Insurance Agents/ Brokers, Direct Response, Banks); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of APAC), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: November 2024
  • Report ID: BWC24911
  • Available Format: PDF
  • Page: 267

Report Overview

Rising awareness about various benefits of motor insurance coverage, an increasing focus on complying with regulatory mandates with rising number of vehicle sales and ownership, and rapid adoption of technological advancements in insurance processes are key factors expected to propel the growth of Asia Pacific Motor Insurance Market during the forecast period between 2024 and 2030.

Asia Pacific Motor Insurance Market – Industry Trends & Forecast Report, 2030

Asia Pacific Motor Insurance Market size was estimated at USD 142.85 billion in 2023. During the forecast period between 2024 and 2030, the size of Asia Pacific Motor Insurance Market is projected to grow at a CAGR of 8.55% reaching a value of USD 233.69 billion by 2030. Major growth factors for Asia Pacific Motor Insurance Market include increasing vehicle ownership driven by rapid urbanization and rising disposable income among middle class population, growing awareness about various benefits of motor insurance coverage. An increasingly high focus on complying with stringent regulatory mandates is also boosting the growth of number of motor insurance policyholders. Over the forecast period, rapid adoption of advanced technologies, including artificial intelligence, machine learning, big data analytics, GPS, sensors, predictive analytics, in the motor insurance processes are projected to boost the growth of Asia Pacific Motor Insurance Market.

Asia Pacific Motor Insurance Market

Motor Insurance - Overview

Motor insurance is a financial protection policy that covers vehicles against damages and liabilities. It safeguards policyholders from financial losses arising from accidents, theft, or third-party injuries. Typically mandatory for vehicle owners, motor insurance offers various coverage options, including third-party liability, comprehensive coverage, and collision protection. Premiums are determined by factors like driver history, vehicle type, and usage patterns. This insurance provides peace of mind by mitigating financial risks associated with unforeseen events on the road, ensuring both the driver and third parties are adequately protected in the event of an incident.

Asia Pacific Motor Insurance Market

Growth Drivers

Increasing Awareness about Benefits of Motor Insurance

A major growth driver for Asia Pacific Motor Insurance Market is growing awareness about the various risk coverage benefits among an increasing number of vehicle owners. Rising awareness about the importance of motor insurance stems from an increasing recognition among consumers about the critical role motor insurance plays in safeguarding against financial losses due to accidents or theft. As awareness spreads, more individuals are compelled to prioritize insurance coverage for their vehicles, creating a surge in demand for insurance products. This heightened awareness not only protects individuals from unforeseen circumstances but also fuels the growth of the insurance industry, as more people actively seek and invest in comprehensive motor insurance policies, fostering a robust and expanding market.

Restraints

Complex Insurance Policies

Increasing complexities in motor insurance policies are anticipated to impact the growth of Asia Pacific Motor Insurance Market. The number of accidents, road collisions, and wrecks is rising daily. The premiums of auto insurance rates are significantly influenced by all of these variables. People texting, chatting on the phone, or engaging in other activities while driving is a significant risk factor. Drivers’ lack of awareness, their negligence, collisions, accidents, and other threats or harm to third parties occurred. Third-party liability insurance compensates the owner of the car for any property damage caused to third parties who are not covered by the policy. This coverage protects from monetary loss if third parties, such as walkers, drivers, and passengers in other vehicles, sustain property damage, disability, injuries, or death.

Impact of Escalating Geopolitical Tensions on Asia Pacific Motor Insurance Market

Growing geopolitical tensions among countries, particularly the Russia-Ukraine war,  and their further spreading across the world significantly impact the growth of Asia Pacific Motor Insurance Market. Heightened regional instability amplifies risks, impacting insurers' assessment of geopolitical exposure and necessitating adjustments in premium pricing. The conflict's economic repercussions, including fluctuating currency values and supply chain disruptions, further challenge market dynamics. As geopolitical uncertainties persist, insurers may face increased claims frequency and severity, prompting a reassessment of risk models.

Asia Pacific Motor Insurance Market

Segmental Coverage

Asia Pacific Motor Insurance Market – By Coverage

Based on coverage, Asia Pacific Motor Insurance Market is divided into Liability Coverage, Collision Coverage, and Comprehensive Insurance segments. The comprehensive insurance segment stands out as the largest coverage segment. Comprehensive insurance policies typically offer a broader range of coverage, including protection against theft, natural disasters, and non-collision events. As consumers in the Asia Pacific region seek comprehensive solutions for their motor insurance needs, the Comprehensive insurance segment plays a pivotal role in meeting diverse coverage requirements and mitigating various risks associated with vehicle ownership.

Asia Pacific Motor Insurance Market – By Vehicle Age

By vehicle age, Asia Pacific Motor Insurance Market is divided into New Vehicles and Old Vehicles segments. The new vehicles segment encompasses insurance offerings tailored for recently purchased or newly manufactured vehicles, while the Old Vehicles segment focuses on insurance products designed for pre-owned or older vehicles. This segmentation enables insurers to address the diverse needs and risk profiles associated with different stages of a vehicle's lifecycle. The market's dynamic nature and evolving consumer preferences within these segments contribute to the overall growth and adaptation strategies of motor insurance providers in the Asia Pacific region.

Asia Pacific Motor Insurance Market Size

Asia Pacific Motor Insurance Market – By Vehicle Type

Asia Pacific Motor Insurance Market by vehicle type is split into Commercial Vehicle and Personal Vehicle segments. The larger segment is often determined by regional economic activities, population demographics, and urbanization trends. Commercial Vehicle insurance caters to businesses and fleets, reflecting the dynamic commercial landscape, while Personal Vehicle insurance addresses the diverse needs of individual drivers. Understanding the distinct characteristics and demands within each segment is crucial for insurers to tailor their offerings effectively, ensuring comprehensive coverage and competitive positioning in this dynamic and expansive market.

Asia Pacific Motor Insurance Market – By Distribution Channel

On the basis of distribution channel, Asia Pacific Motor Insurance Market is divided into Insurance Agents/ Brokers, Direct Response, and Banks segments. The Insurance Agents/Brokers segment stands out as the largest. This sector involves intermediaries facilitating insurance transactions, leveraging their expertise to connect insurers with customers. The widespread presence of insurance agents and brokers in the Asia Pacific region underscores their significant role in the Motor Insurance Market, acting as pivotal intermediaries and advisors in the insurance distribution network. Their influence and market share contribute substantially to the overall dynamics and growth of the motor insurance industry in the Asia Pacific region.

Asia Pacific Motor Insurance Market – By Country

Geographically, Asia Pacific Motor Insurance Market is divided into China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, and Rest of APAC. China emerging as the leading country in Asia Pacific Motor Insurance Market. China's robust economy, increasing urbanization, and growing vehicle ownership contribute to a significant share of the APAC Motor Insurance Market. The country's vast population and expanding middle class drive demand for insurance products, making it a focal point for market growth. Other notable segments include India, Japan, and South Korea, each exhibiting unique characteristics and potential for expansion. However, China's sheer size and economic influence position it as the primary driver of the Asia Pacific Motor Insurance Market's overall dynamics and growth.

Competitive Landscape

Major players in Asia Pacific Motor Insurance Market include Ping An Insurance, China Pacific Insurance, People's Insurance Company of China, Japan Post Insurance, Tokio Marine Holding, Sompo Holdings, MS&AD Insurance Group, Fubon Insurance, Axa, Allianz, Chubb, Zurich, Liberty Mutual, Generali, and Hannover Re. To enhance their market share and expand their reach, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Market Coverage

China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam,  Rest of APAC

Product/Service Segmentation

Coverage, Vehicle Age, Vehicle Type, Distribution Channel, Country

Key Players

Ping An Insurance, China Pacific Insurance, People's Insurance Company of China, Japan Post Insurance, Tokio Marine Holding, Sompo Holdings, MS&AD Insurance Group, Fubon Insurance, Axa, Allianz, Chubb, Zurich, Liberty Mutual, Generali, Hannover Re

 

By Coverage

  • Liability Coverage

  • Collision Coverage

  • Comprehensive Insurance

By Vehicle Age

  • New Vehicles

  • Old Vehicles

By Vehicle Type

  • Commercial Vehicles

  • Personal Vehicles

By Distribution Channel

  • Insurance Agents/ Brokers

  • Direct Response

  • Banks

By Country

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

  • Indonesia

  • Malaysia

  • Singapore

  • Philippines

  • Vietnam

  • Rest of APAC

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. APAC Motor Insurance Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing awareness of the importance of motor insurance
        2. Mandatory motor insurance in many countries
      2. Restraints
        1. Complex insurance policies
        2. Low insurance penetration
      3. Opportunities
        1. Expanding product offerings
        2. Targeting new customer segments
      4. Challenges
        1. Economic downturn
        2. Regulatory changes
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. APAC Motor Insurance Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
        1. Liability Coverage
        2. Collision Coverage
        3. Comprehensive Insurance
        4. Others
      2. By Vehicle Age
        1. New Vehicles
        2. Old Vehicles
      3. By Application
        1. Commercial Vehicle
        2. Personal Vehicle
      4. By Distribution Channel
        1. Insurance Agents/ Brokers
        2. Direct Response
        3. Banks
        4. Others
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia & New Zealand
        6. Indonesia
        7. Malaysia
        8. Singapore
        9. Philippines
        10. Vietnam
        11. Rest of APAC
  5. China Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  6. India Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  7. Japan Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  8. South Korea Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  9. Australia & New Zealand Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  10. Indonesia Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  11. Malaysia Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  12. Singapore Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  13. Philippines Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  14. Vietnam Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
    3. Market Size & Forecast, 2019–2030
      1. By Volume (Unit)
    4. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  15. Rest of APAC Motor Insurance Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Coverage
      2. By Vehicle Age
      3. By Application
      4. By Distribution Channel
  16. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Asia Pacific Motor Insurance Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships,)
  17. Impact of Escalating Geopolitical Tensions on Asia Pacific Motor Insurance Market
  18. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Ping An Insurance
    2. China Pacific Insurance
    3. People's Insurance Company of China
    4. Japan Post Insurance
    5. Tokio Marine Holding
    6. Sompo Holdings
    7. MS&AD Insurance Group
    8. Fubon Insurance
    9. Axa
    10. Allianz
    11. Chubb
    12. Zurich
    13. Liberty Mutual
    14. Generali
    15. Hannover Re
    16. Other Prominent Players
  19. Key Strategic Recommendations
  20. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1 Asia Pacific Motor Insurance Segmentation

Figure 2 Asia Pacific Motor Insurance Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2023

Figure 4 Asia Pacific Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 5 Asia Pacific Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 6 Asia Pacific Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 7 Asia Pacific Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 8 Asia Pacific Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 9 Asia Pacific Motor Insurance Market Share, By Country, By Value, 2019–2030

Figure 10 China Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 11 China Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 12 China Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 13 China Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 14 China Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 15 India Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 16 India Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 17 India Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 18 India Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 19 India Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 20 Japan Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 21 Japan Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 22 Japan Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 23 Japan Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 24 Japan Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 25 South Korea Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 26 South Korea Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 27 South Korea Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 28 South Korea Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 29 South Korea Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 30 Australia & New Zealand Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 31 Australia & New Zealand Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 32 Australia & New Zealand Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 33 Australia & New Zealand Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 34 Australia & New Zealand Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 35 Indonesia Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 36 Indonesia Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 37 Indonesia Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 38 Indonesia Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 39 Indonesia Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 40 Malaysia Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 41 Malaysia Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 42 Malaysia Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 43 Malaysia Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 44 Malaysia Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 45 Singapore Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 46 Singapore Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 47 Singapore Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 48 Singapore Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 49 Singapore Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 50 Philippines Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 51 Philippines Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 52 Philippines Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 53 Philippines Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 54 Philippines Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 55 Vietnam Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 56 Vietnam Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 57 Vietnam Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 58 Vietnam Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 59 Vietnam Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

Figure 60 Vietnam Motor Insurance Market Size, By Volume (Units), 2019–2030

Figure 61 Vietnam Motor Insurance Market Share, By Coverage, By Volume, 2019–2030

Figure 62 Vietnam Motor Insurance Market Share, By Vehicle Age, By Volume (Units), 2019–2030

Figure 63 Vietnam Motor Insurance Market Share, By Application, By Volume (Units), 2019–2030

Figure 64 Vietnam Motor Insurance Market Share, By Distribution Channel, By Volume (Units), 2019–2030

Figure 65 Rest of APAC Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Figure 66 Rest of APAC Motor Insurance Market Share, By Coverage, By Value, 2019–2030

Figure 67 Rest of APAC Motor Insurance Market Share, By Vehicle Age, By Value, 2019–2030

Figure 68 Rest of APAC Motor Insurance Market Share, By Application, By Value, 2019–2030

Figure 69 Rest of APAC Motor Insurance Market Share, By Distribution Channel, By Value, 2019–2030

 

List of Tables

 

Table 1 Asia Pacific Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 2 Asia Pacific Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 3 Asia Pacific Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 4 Asia Pacific Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 5 Asia Pacific Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 6 Asia Pacific Motor Insurance Market Size, By Country, By Value, 2019–2030

Table 7 China Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 8 China Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 9 China Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 10 China Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 11 China Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 12 India Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 13 India Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 14 India Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 15 India Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 16 India Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 17 Japan Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 18 Japan Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 19 Japan Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 20 Japan Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 21 Japan Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 22 South Korea Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 23 South Korea Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 24 South Korea Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 25 South Korea Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 26 South Korea Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 27 Australia & New Zealand Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 28 Australia & New Zealand Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 29 Australia & New Zealand Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 30 Australia & New Zealand Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 31 Australia & New Zealand Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 32 Indonesia Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 33 Indonesia Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 34 Indonesia Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 35 Indonesia Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 36 Indonesia Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 37 Malaysia Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 38 Malaysia Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 39 Malaysia Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 40 Malaysia Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 41 Malaysia Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 42 Singapore Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 43 Singapore Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 44 Singapore Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 45 Singapore Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 46 Singapore Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 47 Philippines Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 48 Philippines Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 49 Philippines Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 50 Philippines Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 51 Philippines Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 52 Vietnam Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 53 Vietnam Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 54 Vietnam Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 55 Vietnam Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 56 Vietnam Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 57 Vietnam Motor Insurance Market Size, By Volume (Units), 2019–2030

Table 58 Vietnam Motor Insurance Market Size, By Coverage, By Volume, 2019–2030

Table 59 Vietnam Motor Insurance Market Size, By Vehicle Age, By Volume, 2019–2030

Table 60 Vietnam Motor Insurance Market Size, By Application, By Volume, 2019–2030

Table 61 Vietnam Motor Insurance Market Size, By Distribution Channel, By Volume, 2019–2030

 

Table 62 Rest of APAC Motor Insurance Market Size, By Value (USD Billion), 2019–2030

Table 63 Rest of APAC Motor Insurance Market Size, By Coverage, By Value, 2019–2030

Table 64 Rest of APAC Motor Insurance Market Size, By Vehicle Age, By Value, 2019–2030

Table 65 Rest of APAC Motor Insurance Market Size, By Application, By Value, 2019–2030

Table 66 Rest of APAC Motor Insurance Market Size, By Distribution Channel, By Value, 2019–2030

Table 67      Ping An Insurance Company Overview

Table 68      Ping An Insurance Financial Overview

Table 69      China Pacific Insurance Company Overview

Table 70      China Pacific Insurance Financial Overview

Table 71      People's Insurance Company of China Company Overview

Table 72      People's Insurance Company of China Financial Overview

Table 73      Japan Post Insurance Company Overview

Table 74      Japan Post Insurance Financial Overview

Table 75      Tokio Marine Holding Company Overview

Table 76      Tokio Marine Holding Financial Overview

Table 77      Sompo Holdings Company Overview

Table 78      Sompo Holdings Financial Overview

Table 79      MS&AD Insurance Group Company Overview

Table 80      MS&AD Insurance Group Financial Overview

Table 81      Fubon Insurance Company Overview

Table 82      Fubon Insurance Financial Overview

Table 83      Axa Company Overview

Table 84      Axa Financial Overview

Table 85      Allianz Company Overview

Table 86      Allianz Financial Overview

Table 87      Chubb Company Overview

Table 88      Chubb Financial Overview

Table 89      Hannover Re Company Overview

Table 90      Hannover Re Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Asia Pacific Motor Insurance Market size was estimated at USD 142.85 billion in 2023.
Ans: Asia Pacific Motor Insurance Market size is expected to grow at a CAGR of 8.55% during the forecast period between 2024 and 2030.
Ans: Asia Pacific Motor Insurance Market size is expected to reach a market value of USD 233.69 billion by 2030.
Ans: Major factors driving Asia Pacific Motor Insurance Market include increasingly high vehicle ownership, rapid urbanization, rising disposable income, growing awareness about insurance benefits, regulatory mandates, and technological advancements in insurance processes.
Ans: China is the leading country in Asia Pacific Motor Insurance Market.
Ans: The insurance agents/brokers segment holds a higher market share of Asia Pacific Motor Insurance Market by distribution channel.
Ans: The comprehensive insurance segment holds the largest market share of Asia Pacific Motor Insurance Market by coverage.
Ans: Major companies in Asia Pacific Motor Insurance Market include Ping An Insurance, China Pacific Insurance, People's Insurance Company of China, Japan Post Insurance, Tokio Marine Holding, Sompo Holdings, MS&AD Insurance Group, Fubon Insurance, Axa, Allianz, Chubb, Zurich, Liberty Mutual, Generali, and Hannover Re.
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