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Home Warranty Services Market by Distribution Channel (Brokers,Agents and Branches,Others), by Type (Home System,Appliance), by Application (Residential,Commercial), by Sales Channel (Renewals,Home Resale,Direct to Customer), and Region: Global Opportunity Analysis and Industry Forecast, 2020-2030

A13578

Pages: 160

Charts: NA

Tables: 112

Home Warranty Service Market Research, 2030

The global home warranty service market size was valued at $7,315.1 million in 2020, and is expected to reach $13,611.2 million by 2030, registering a CAGR of 6.3% from 2021 to 2030.
 
A home warranty is a type of service agreement that covers the expenses associated with maintaining a house or its equipment over a specified period. This service includes coverage for home systems and appliances, taking care of both repairs and replacements. These service contracts are renewed annually for existing customers who have enrolled in home warranty plans. Home certifications are often recommended when purchasing an older home where details about certain items may not be easily accessible. Unlike homeowner’s insurance, which protects against losses caused by fire or natural disasters, home warranties specifically cover maintenance and repair costs.

Home Warranty Service Market Dynamics

home warranty service market share is primarily driven by the protection of expensive appliances such as refrigerators, heating, ventilation, and air conditioning (HVAC) systems, dishwashers, ovens, cooktops, plumbing, and electrical systems. This ensures the maintenance and servicing of appliances and systems in homes. In addition, the rise in awareness of warranty services is driving market growth in tier 2 and tier 3 cities. This growing awareness is leading to an increase in subscriptions to home warranty services with service providers
 
However, hidden charges at the time of actually warranty claim and stringent terms & conditions of service providers restrain the home warranty service market growth. Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of home warranty service as well as their demand in the market, thereby restraining the growth of the market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of home warranty service companies at their full-scale capacities, which is likely to help the home warranty service market opportunity to recover by mid of 2022.
 

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In addition, increase in expenditure on home services majorly in the developing countries such as China, India, and Brazil is anticipated to open new avenues for the home warranty service market during the forecast period.

The global home warranty service market is segmented into distribution channel, type, sales channel, application, and region. On the basis of distribution channel, the market is fragmented into brokers, agents & branches, and others. Depending on type, it is bifurcated into home systems and appliances. The applications covered in the study include residential and commercial. By sales channel, the market is segregated into renewals, home resale, and direct to consumer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

[TYPEGRAPH]

On the basis of distribution channel, in 2020, the brokers segment dominated the home warranty service market, in terms of revenue, whereas the others segment is expected to witness growth at the highest CAGR during the forecast period. As per type, in 2020, the home system segment led the home warranty service market, however, the appliances segment is expected to exhibit highest CAGR in the near future. By application, the residential segment was the major revenue contributor in 2020, and is anticipated to register highest CAGR during the forecast period. As per sales channel, in 2020, the renewals segment exhibited the highest growth, however, the home resale segment is expected to garner the highest CAGR in the near future. Region wise, North America garnered the highest revenue in 2020, however, LAMEA is anticipated to register highest CAGR during the forecast period.

[APPLICATIONGRAPH]

Competition analysis

The major players profiled in the home warranty service market include AFC Home Club, Cinch Home Services, Inc., First American Home Warranty, FNHW (Fidelity National Home Warranty), Frontdoor, Inc., Home Buyers Warranty Corporation, Landmark Home Warranty, Old Republic International Corporation, Oneguard Home Warranties, and Transforms SR Brands LLC. These companies have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the home warranty service market.

[REGIONGRAPH]

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current trends, future estimations, and dynamics of the home warranty service market. 

  • In-depth home warranty service market analysis is conducted by estimations for the key segments between 2021 and 2030. 

  • Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the home warranty service market framework.

  • A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.

  • The home warranty service market forecast analysis from 2021 to 2030 is included in the report.

  • The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the home warranty service market industry.

Key Market Segments

  • By Distribution Channel
    • Brokers
    • Agents and Branches
    • Others
  • By Type
    • Home System
    • Appliance
  • By Application
    • Residential
    • Commercial
  • By Sales Channel
    • Renewals
    • Home Resale
    • Direct to Customer
  • By Region
    • North America
      • UNITED STATES
      • CANADA
      • MEXICO
    • Europe
      • FRANCE
      • GERMANY
      • UNITED KINGDOM
      • ITALY
      • Rest of Europe
    • Asia-Pacific
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • Rest of Asia Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa


Key Market Players

  • AFC Home Club
  • Home Buyers Warranty Corporation
  • Landmark Home Warranty
  • Cinch Home Services, Inc.
  • Oneguard Home Warranties
  • First American Home Warranty
  • Frontdoor, Inc.
  • FNHW (Fidelity National Home Warranty)
  • Transforms SR Brands LLC
  • Old Republic International Corporation

TABLE OF CONTENTS

  • CHAPTER 1:    INTRODUCTION

    • 1.1.   Report description

    • 1.2.   Key benefits for stakeholders

    • 1.3.   Key market segments

    • 1.4.   Research methodology

      • 1.4.1.   Secondary research

      • 1.4.2.   Primary research

    • 1.5.   Analyst tools and models

    CHAPTER 2:    EXECUTIVE SUMMARY

    • 2.1.   Key findings of the study

    • 2.2.   CXO perspective

    CHAPTER 3:    MARKET OVERVIEW

    • 3.1.   Market definition and scope

    • 3.2.   Key findings

      • 3.2.1.   Top investment pockets

    • 3.3.   Porter’s five forces analysis

    • 3.4.   Market dynamics

      • 3.4.1.   Drivers

      • 3.4.2.   Restraint

      • 3.4.3.   Opportunity

    • 3.6.   COVID-19 Impact Analysis

  • CHAPTER 4 : HOME WARRANTY SERVICES MARKET, DISTRIBUTION CHANNEL

    • 4.1.   Overview

      • 4.1.1 Market size and forecast, distribution channel

    • 4.2.   Brokers

      • 4.2.1. Key market trends, growth factors and opportunities

      • 4.2.2. Market size and forecast

      • 4.2.3. Market share analysis, by country

    • 4.3.   Agents and Branches

      • 4.3.1. Key market trends, growth factors and opportunities

      • 4.3.2. Market size and forecast

      • 4.3.3. Market share analysis, by country

    • 4.4.   Others

      • 4.4.1. Key market trends, growth factors and opportunities

      • 4.4.2. Market size and forecast

      • 4.4.3. Market share analysis, by country

  • CHAPTER 5 : HOME WARRANTY SERVICES MARKET, TYPE

    • 5.1.   Overview

      • 5.1.1 Market size and forecast, type

    • 5.2.   Home System

      • 5.2.1. Key market trends, growth factors and opportunities

      • 5.2.2. Market size and forecast

      • 5.2.3. Market share analysis, by country

    • 5.3.   Appliance

      • 5.3.1. Key market trends, growth factors and opportunities

      • 5.3.2. Market size and forecast

      • 5.3.3. Market share analysis, by country

  • CHAPTER 6 : HOME WARRANTY SERVICES MARKET, APPLICATION

    • 6.1.   Overview

      • 6.1.1 Market size and forecast, application

    • 6.2.   Residential

      • 6.2.1. Key market trends, growth factors and opportunities

      • 6.2.2. Market size and forecast

      • 6.2.3. Market share analysis, by country

    • 6.3.   Commercial

      • 6.3.1. Key market trends, growth factors and opportunities

      • 6.3.2. Market size and forecast

      • 6.3.3. Market share analysis, by country

  • CHAPTER 7 : HOME WARRANTY SERVICES MARKET, SALES CHANNEL

    • 7.1.   Overview

      • 7.1.1 Market size and forecast, sales channel

    • 7.2.   Renewals

      • 7.2.1. Key market trends, growth factors and opportunities

      • 7.2.2. Market size and forecast

      • 7.2.3. Market share analysis, by country

    • 7.3.   Home Resale

      • 7.3.1. Key market trends, growth factors and opportunities

      • 7.3.2. Market size and forecast

      • 7.3.3. Market share analysis, by country

    • 7.4.   Direct to Customer

      • 7.4.1. Key market trends, growth factors and opportunities

      • 7.4.2. Market size and forecast

      • 7.4.3. Market share analysis, by country

  • CHAPTER 8 : HOME WARRANTY SERVICES MARKET, BY REGIONS

    • 8.1.  Overview

    • 8.2.  NORTH AMERICA

      • 8.2.1. Key market trends, growth factors, and opportunities

      • 8.2.2. Market size and forecast, distribution channel

      • 8.2.3. Market size and forecast, type

      • 8.2.4. Market size and forecast, application

      • 8.2.5. Market size and forecast, sales channel

      • 8.2.6. Market size and forecast, by region

      • 8.2.7. Market size and forecast, by country

      • 8.2.8. UNITED STATES

        • 8.2.8.1 Market size and forecast, distribution channel

        • 8.2.8.2 Market size and forecast, type

        • 8.2.8.3 Market size and forecast, application

        • 8.2.8.4 Market size and forecast, sales channel

      • 8.2.9. CANADA

        • 8.2.9.1 Market size and forecast, distribution channel

        • 8.2.9.2 Market size and forecast, type

        • 8.2.9.3 Market size and forecast, application

        • 8.2.9.4 Market size and forecast, sales channel

      • 8.2.10. MEXICO

        • 8.2.10.1 Market size and forecast, distribution channel

        • 8.2.10.2 Market size and forecast, type

        • 8.2.10.3 Market size and forecast, application

        • 8.2.10.4 Market size and forecast, sales channel

    • 8.3.  EUROPE

      • 8.3.1. Key market trends, growth factors, and opportunities

      • 8.3.2. Market size and forecast, distribution channel

      • 8.3.3. Market size and forecast, type

      • 8.3.4. Market size and forecast, application

      • 8.3.5. Market size and forecast, sales channel

      • 8.3.6. Market size and forecast, by region

      • 8.3.7. Market size and forecast, by country

      • 8.3.8. FRANCE

        • 8.3.8.1 Market size and forecast, distribution channel

        • 8.3.8.2 Market size and forecast, type

        • 8.3.8.3 Market size and forecast, application

        • 8.3.8.4 Market size and forecast, sales channel

      • 8.3.9. GERMANY

        • 8.3.9.1 Market size and forecast, distribution channel

        • 8.3.9.2 Market size and forecast, type

        • 8.3.9.3 Market size and forecast, application

        • 8.3.9.4 Market size and forecast, sales channel

      • 8.3.10. UNITED KINGDOM

        • 8.3.10.1 Market size and forecast, distribution channel

        • 8.3.10.2 Market size and forecast, type

        • 8.3.10.3 Market size and forecast, application

        • 8.3.10.4 Market size and forecast, sales channel

      • 8.3.11. ITALY

        • 8.3.11.1 Market size and forecast, distribution channel

        • 8.3.11.2 Market size and forecast, type

        • 8.3.11.3 Market size and forecast, application

        • 8.3.11.4 Market size and forecast, sales channel

      • 8.3.12. Rest of Europe

        • 8.3.12.1 Market size and forecast, distribution channel

        • 8.3.12.2 Market size and forecast, type

        • 8.3.12.3 Market size and forecast, application

        • 8.3.12.4 Market size and forecast, sales channel

    • 8.4.  ASIA-PACIFIC

      • 8.4.1. Key market trends, growth factors, and opportunities

      • 8.4.2. Market size and forecast, distribution channel

      • 8.4.3. Market size and forecast, type

      • 8.4.4. Market size and forecast, application

      • 8.4.5. Market size and forecast, sales channel

      • 8.4.6. Market size and forecast, by region

      • 8.4.7. Market size and forecast, by country

      • 8.4.8. CHINA

        • 8.4.8.1 Market size and forecast, distribution channel

        • 8.4.8.2 Market size and forecast, type

        • 8.4.8.3 Market size and forecast, application

        • 8.4.8.4 Market size and forecast, sales channel

      • 8.4.9. JAPAN

        • 8.4.9.1 Market size and forecast, distribution channel

        • 8.4.9.2 Market size and forecast, type

        • 8.4.9.3 Market size and forecast, application

        • 8.4.9.4 Market size and forecast, sales channel

      • 8.4.10. INDIA

        • 8.4.10.1 Market size and forecast, distribution channel

        • 8.4.10.2 Market size and forecast, type

        • 8.4.10.3 Market size and forecast, application

        • 8.4.10.4 Market size and forecast, sales channel

      • 8.4.11. SOUTH KOREA

        • 8.4.11.1 Market size and forecast, distribution channel

        • 8.4.11.2 Market size and forecast, type

        • 8.4.11.3 Market size and forecast, application

        • 8.4.11.4 Market size and forecast, sales channel

      • 8.4.12. Rest of Asia Pacific

        • 8.4.12.1 Market size and forecast, distribution channel

        • 8.4.12.2 Market size and forecast, type

        • 8.4.12.3 Market size and forecast, application

        • 8.4.12.4 Market size and forecast, sales channel

    • 8.5.  LAMEA

      • 8.5.1. Key market trends, growth factors, and opportunities

      • 8.5.2. Market size and forecast, distribution channel

      • 8.5.3. Market size and forecast, type

      • 8.5.4. Market size and forecast, application

      • 8.5.5. Market size and forecast, sales channel

      • 8.5.6. Market size and forecast, by region

      • 8.5.7. Market size and forecast, by country

      • 8.5.8. Latin America

        • 8.5.8.1 Market size and forecast, distribution channel

        • 8.5.8.2 Market size and forecast, type

        • 8.5.8.3 Market size and forecast, application

        • 8.5.8.4 Market size and forecast, sales channel

      • 8.5.9. Middle East

        • 8.5.9.1 Market size and forecast, distribution channel

        • 8.5.9.2 Market size and forecast, type

        • 8.5.9.3 Market size and forecast, application

        • 8.5.9.4 Market size and forecast, sales channel

      • 8.5.10. Africa

        • 8.5.10.1 Market size and forecast, distribution channel

        • 8.5.10.2 Market size and forecast, type

        • 8.5.10.3 Market size and forecast, application

        • 8.5.10.4 Market size and forecast, sales channel

  • CHAPTER 9 : COMPANY PROFILES

    • 9.1. AFC HOME CLUB

      • 9.1.1. Company overview

      • 9.1.2. Business performance

      • 9.1.3. Key strategic moves and developments

    • 9.2. CINCH HOME SERVICES, INC.

      • 9.2.1. Company overview

      • 9.2.2. Business performance

      • 9.2.3. Key strategic moves and developments

    • 9.3. FIRST AMERICAN HOME WARRANTY

      • 9.3.1. Company overview

      • 9.3.2. Business performance

      • 9.3.3. Key strategic moves and developments

    • 9.4. FNHW (FIDELITY NATIONAL HOME WARRANTY)

      • 9.4.1. Company overview

      • 9.4.2. Business performance

      • 9.4.3. Key strategic moves and developments

    • 9.5. FRONTDOOR, INC.

      • 9.5.1. Company overview

      • 9.5.2. Business performance

      • 9.5.3. Key strategic moves and developments

    • 9.6. HOME BUYERS WARRANTY CORPORATION

      • 9.6.1. Company overview

      • 9.6.2. Business performance

      • 9.6.3. Key strategic moves and developments

    • 9.7. LANDMARK HOME WARRANTY

      • 9.7.1. Company overview

      • 9.7.2. Business performance

      • 9.7.3. Key strategic moves and developments

    • 9.8. OLD REPUBLIC INTERNATIONAL CORPORATION

      • 9.8.1. Company overview

      • 9.8.2. Business performance

      • 9.8.3. Key strategic moves and developments

    • 9.9. ONEGUARD HOME WARRANTIES

      • 9.9.1. Company overview

      • 9.9.2. Business performance

      • 9.9.3. Key strategic moves and developments

    • 9.10. TRANSFORMS SR BRANDS LLC

      • 9.10.1. Company overview

      • 9.10.2. Business performance

      • 9.10.3. Key strategic moves and developments

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