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Trade Credit Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

November 2023 | 145 pages | ID: T7E64655B5D0EN
IMARC Group

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The global trade credit insurance market size reached US$ 11.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.07% during 2022-2028.

Trade credit insurance (TCI), or credit insurance, refers to a risk management tool that covers the payment risk involved with the purchase and delivery of goods or services. It is purchased to safeguard or overcome the financial losses in case of unforeseen insolvency, bankruptcy or protracted default in payment. It protects manufacturers, traders and service providers against losses from non-payment of a commercial trade debt. The insurance is usually available to credit card users with a low percentage monthly premium on the unpaid balance of the card. TCI is also used for insuring both domestic and international trade activities and providing coverage for whole or single turnover. As a result, it is widely used across various industries, including food and beverage, information technology (IT), telecommunication, healthcare, energy and automotive.

Trade Credit Insurance Market Trends:
Significant growth in the banking, financial services and insurance (BFSI) industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for effective solutions to protect and mitigate the risks of non-payment across various goods and service industries is providing a thrust to the market growth. With the rising import and export activities, organizations are widely investing in various financial tools, such as TCI and letters of credit (LC), to safeguard themselves from financial losses. In line with this, the increasing number of small and medium-sized enterprises (SMEs) is also contributing to the growth of the market. Various technological advancements, such as the launch of artificial intelligence (AI) and the Internet of Things (IoT)-enabled insurance solutions, are acting as other growth-inducing factors. These technologies aid in running automated business rules, self-learning models, network analysis, predictive analytics and device identification, which are highly beneficial for predicting risks. Other factors, including rapid digitization of the insurance sector, along with the implementation of favorable government policies promoting fair trade practices, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global trade credit insurance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, coverages, enterprises size, application and industry vertical.

Breakup by Component:

Product
Services

Breakup by Coverages:

Whole Turnover Coverage
Single Buyer Coverage

Breakup by Enterprises Size:

Large Enterprises
Medium Enterprises
Small Enterprises

Breakup by Application:

Domestic
International

Breakup by Industry Vertical:

Food and Beverages
IT and Telecom
Metals and Mining
Healthcare
Energy and Utilities
Automotive
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global trade credit insurance market in 2022?
2. What is the expected growth rate of the global trade credit insurance market during 2023-2028?
3. What are the key factors driving the global trade credit insurance market?
4. What has been the impact of COVID-19 on the global trade credit insurance market?
5. What is the breakup of the global trade credit insurance market based on the component?
6. What is the breakup of the global trade credit insurance market based on the coverages?
7. What is the breakup of the global trade credit insurance market based on the enterprises size?
8. What is the breakup of the global trade credit insurance market based on the application?
9. What is the breakup of the global trade credit insurance market based on the industry vertical?
10. What are the key regions in the global trade credit insurance market?
11. Who are the key players/companies in the global trade credit insurance market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL TRADE CREDIT INSURANCE MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Product
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Services
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY COVERAGES

7.1 Whole Turnover Coverage
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Single Buyer Coverage
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY ENTERPRISES SIZE

8.1 Large Enterprises
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Medium Enterprises
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Small Enterprises
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY APPLICATION

9.1 Domestic
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 International
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY INDUSTRY VERTICAL

10.1 Food and Beverages
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 IT and Telecom
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Metals and Mining
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Healthcare
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Energy and Utilities
  10.5.1 Market Trends
  10.5.2 Market Forecast
10.6 Automotive
  10.6.1 Market Trends
  10.6.2 Market Forecast
10.7 Others
  10.7.1 Market Trends
  10.7.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia-Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 American International Group Inc.
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 Financials
    16.3.1.4 SWOT Analysis
  16.3.2 Aon plc
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
    16.3.2.3 Financials
    16.3.2.4 SWOT Analysis
  16.3.3 Axa S.A.
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
    16.3.3.3 Financials
    16.3.3.4 SWOT Analysis
  16.3.4 China Export & Credit Insurance Corporation
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
  16.3.5 Chubb Limited (ACE Limited)
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 Financials
    16.3.5.4 SWOT Analysis
  16.3.6 Coface
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 Euler Hermes (Allianz SE)
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
  16.3.8 Export Development Canada
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
  16.3.9 Nexus Underwriting Management Ltd.
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
  16.3.10 QBE Insurance Group Limited
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
    16.3.10.3 Financials
    16.3.10.4 SWOT Analysis
  16.3.11 Willis Towers Watson Public Limited Company
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
    16.3.11.3 Financials
    16.3.11.4 SWOT Analysis
  16.3.12 Zurich Insurance Group Ltd
    16.3.12.1 Company Overview
    16.3.12.2 Product Portfolio
    16.3.12.3 Financials
    16.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Trade Credit Insurance Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Trade Credit Insurance Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Trade Credit Insurance Market Forecast: Breakup by Coverages (in Million US$), 2023-2028
Table 4: Global: Trade Credit Insurance Market Forecast: Breakup by Enterprises Size (in Million US$), 2023-2028
Table 5: Global: Trade Credit Insurance Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Trade Credit Insurance Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
Table 7: Global: Trade Credit Insurance Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 8: Global: Trade Credit Insurance Market: Competitive Structure
Table 9: Global: Trade Credit Insurance Market: Key Players

LIST OF FIGURES

Figure 1: Global: Trade Credit Insurance Market: Major Drivers and Challenges
Figure 2: Global: Trade Credit Insurance Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Trade Credit Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Trade Credit Insurance Market: Breakup by Component (in %), 2022
Figure 5: Global: Trade Credit Insurance Market: Breakup by Coverages (in %), 2022
Figure 6: Global: Trade Credit Insurance Market: Breakup by Enterprises Size (in %), 2022
Figure 7: Global: Trade Credit Insurance Market: Breakup by Application (in %), 2022
Figure 8: Global: Trade Credit Insurance Market: Breakup by Industry Vertical (in %), 2022
Figure 9: Global: Trade Credit Insurance Market: Breakup by Region (in %), 2022
Figure 10: Global: Trade Credit Insurance (Product) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Trade Credit Insurance (Product) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Trade Credit Insurance (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Trade Credit Insurance (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Trade Credit Insurance (Whole Turnover Coverage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Trade Credit Insurance (Whole Turnover Coverage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Trade Credit Insurance (Single Buyer Coverage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Trade Credit Insurance (Single Buyer Coverage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Trade Credit Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Trade Credit Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Trade Credit Insurance (Medium Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Trade Credit Insurance (Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Trade Credit Insurance (Small Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Trade Credit Insurance (Small Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Trade Credit Insurance (Domestic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Trade Credit Insurance (Domestic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Trade Credit Insurance (International) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Trade Credit Insurance (International) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Trade Credit Insurance (Food and Beverages) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Trade Credit Insurance (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Trade Credit Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Trade Credit Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Trade Credit Insurance (Metals and Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Trade Credit Insurance (Metals and Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Trade Credit Insurance (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Trade Credit Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Trade Credit Insurance (Energy and Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Trade Credit Insurance (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Trade Credit Insurance (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Trade Credit Insurance (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Global: Trade Credit Insurance (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Global: Trade Credit Insurance (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: North America: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: North America: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: United States: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: United States: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Canada: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Canada: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Asia-Pacific: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Asia-Pacific: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: China: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: China: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Japan: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Japan: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: India: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: India: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: South Korea: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: South Korea: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Australia: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Australia: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Indonesia: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Indonesia: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Europe: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Europe: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Germany: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Germany: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: France: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: France: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: United Kingdom: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: United Kingdom: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Italy: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Italy: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Spain: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Spain: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Russia: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Russia: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Others: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Others: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Latin America: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Latin America: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Brazil: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Brazil: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Mexico: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Mexico: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Others: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Others: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Middle East and Africa: Trade Credit Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Middle East and Africa: Trade Credit Insurance Market: Breakup by Country (in %), 2022
Figure 90: Middle East and Africa: Trade Credit Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Global: Trade Credit Insurance Industry: SWOT Analysis
Figure 92: Global: Trade Credit Insurance Industry: Value Chain Analysis
Figure 93: Global: Trade Credit Insurance Industry: Porter's Five Forces Analysis


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