The global cargo insurance market is expected to grow at a significant CAGR during the forecast period 2021-2027. Cargo insurance is a process used for shipment protection from any theft or physical damage and ensures the optimum value of goods against potential losses during the shipment process over air, seas, or land transportation. Cargo insurance offers wide coverage against all the harms and risks of any physical loss or freight damage from external causes throughout the shipping.
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The significantly increasing oil, gas and coal transportation over the seas is surging the demand for cargo deliveries and is anticipated to drive the global cargo insurance market during the forecast period. The global cargo insurance market has been significantly driven by the management of fire risk during transportation. The poorly stowed and undeclared dangerous cargo induces the risk of fire and is anticipated to create lucrative growth opportunities for the global cargo insurance market during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cargo Insurance Market Segment
By Product Type
o Land Cargo Insurance
o Marine Cargo Insurance
o Air Cargo Insurance
By End User
o Marine
o Land
o Aviation
Global Cargo Insurance Market Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
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