Asia Pacific Car Insurance Market Size & Outlook, 2024-2030
The car insurance market in Asia Pacific is expected to reach a projected revenue of US$ 484.2 million by 2030. A compound annual growth rate of 14.9% is expected of Asia Pacific car insurance market from 2024 to 2030.
Revenue, 2023 (US$M)
$186.9
Forecast, 2030 (US$M)
$484.2
CAGR, 2024 - 2030
14.9%
Report Coverage
Asia Pacific
Asia Pacific car insurance market highlights
- The Asia Pacific car insurance market generated a revenue of USD 186.9 million in 2023.
- The market is expected to grow at a CAGR of 14.6% from 2024 to 2030.
- In terms of segment, third party was the largest revenue generating coverage in 2023.
- Third Party is the most lucrative coverage segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 186.9 million |
| Market revenue in 2030 | USD 484.2 million |
| Growth rate | 14.6% (CAGR from 2024 to 2030) |
| Largest segment | Third party |
| Fastest growing segment | Third Party |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Third Party |
| Key market players worldwide | Allianz SE, AXA SA, Zurich Insurance Group AG, Bajaj Finserv, Liberty Mutual Insurance, Progressive Insurance, Travelers Insurance, Chubb Ltd, State Farm, American International Group Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.6% of the global car insurance market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 484.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Car Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| State Farm | View profile | 10001+ | Bloomington, Illinois, United States, North America | https://www.statefarm.com/ |
| Travelers Insurance | View profile | 10001+ | New York, New York, United States, North America | https://www.travelers.com |
| Progressive Insurance | View profile | 10001+ | Mansfield, Ohio, United States, North America | https://www.progressive.com |
| Liberty Mutual Insurance | View profile | 10001+ | Boston, Massachusetts, United States, North America | http://www.libertymutualgroup.com |
| Bajaj Finserv | View profile | 10001+ | New Delhi, Delhi, India, Asia | https://www.bajajfinserv.in/ |
| Chubb Ltd | View profile | 40000 | Baerengasse 32, Zurich, Switzerland, CH-8001 | https://www.chubb.com |
| American International Group Inc | View profile | 25200 | 1271 Avenue of the Americas, New York, NY, United States, 10020 | https://www.aig.com |
| AXA SA | View profile | 110302 | 25, Avenue Matignon, Paris, France, 75008 | https://www.axa.com |
| Allianz SE | View profile | 154862 | Koniginstrasse 28, Munich, BY, Germany, 80802 | https://www.allianz.com |
| Zurich Insurance Group AG | View profile | 59593 | Mythenquai 2, Corporate Center, Zurich, Switzerland, 8002 | https://www.zurich.com |
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
