0

Trade Credit Insurance Market Expected to Reach $41.1 Billion by 2033

 
Trade Credit Insurance Market Expected to Reach $41.1 Billion by 2033
2022
Trade Credit Insurance Market

Report Code : A08305

quote The healthcare segment is expected to experience the fastest growth in the coming years, owing to rising healthcare expenditures, increasing medical equipment procurement, and the expanding need for insurance coverage to mitigate financial risks in the healthcare supply chain, which is expected to drive the segment growth. quote

Onkar Sumant - Manager
BFSI at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Trade Credit Insurance Market," The trade credit insurance market size was valued at $14.9 billion in 2023, and is estimated to reach $41.1 billion by 2033, growing at a CAGR of 10.7% from 2024 to 2033. Trade credit insurance helps in paying off an outstanding debt across several events of the policy holder’s death, disability, termination of employment, and others. By providing protection against customer insolvency, credit insurance helps in protecting the companies against customer defaults. Credit life insurance, credit disability insurance, credit involuntary unemployment insurance, credit property insurance, and trade credit insurance are the major credit insurances available in the market. Factors, such as rapid expansion of new geographic markets, increasing commercial threat to the trade, and numerous benefits provided by core banking solutions, propelling the trade credit insurance market growth.

In addition, surge in small & medium enterprises globally and untapped potential of emerging economies are expected to provide lucrative opportunities for the trade credit insurance solution providers in the coming years. On the basis of coverages, the whole turnover coverage dominated the market in 2023 and is projected to maintain its dominance during the forecast period. This is attributed to the fact that the whole turnover trade credit insurance policy covers multiple risks across several industry verticals. Moreover, it provides protection up to an agreed percentage of any losses incurred against late payment or the failure to pay by its buyers. This is a major growth factor for the whole turnover coverage in the trade credit insurance industry.

By region, the market was dominated by Europe in 2023 and is expected to maintain trade credit insurance market trends during the forecast period. Attributed to increased awareness of trade credit insurance among small & medium enterprises and presence of major lending companies that offer trade credit insurance services are the major factors that influence the growth of the market in this region. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period owing to the rising trade activities, particularly in emerging economies such as China and India, driving the demand for trade credit insurance as businesses seek to mitigate risks associated with non-payment and defaults. In addition, supportive government initiatives aimed at promoting exports and enhancing the regulatory environment further boost region growth.

For instance, In September 2021, the Insurance Regulatory and Development Authority of India (IRDAI) announced updated guidelines for trade credit insurance, set to take effect on November 1, 2021. These revised guidelines aim to foster the sustainable growth of the trade credit insurance sector, which plays a imporatnt role in enhancing economic stability. By addressing trade losses stemming from credit risks, the new regulations designed to bolster the market's resilience against potential financial shocks. This initiative is expected to encourage businesses to engage more confidently in trade, knowing they a safety net against payment defaults. In addition, the guidelines anticipated to stimulate competition among insurers, leading to more innovative products and better services. Thereby the IRDAI guidelines is expected to drive the trade credit insurance market growth.

Key findings of the study 

  • By component, the product segment held the largest trade credit insurance market share in 2023.
  • By enterprise size, the large enterprise segment held the largest share in the trade credit insurance market for 2023.
  • By coverages, the whole turnover coverage segment held the largest share in the market for 2023.
  • By industry vertical, the others segment held the largest share in the trade credit insurance market for 2023.
  • By application, the domestic segment held the largest share in the trade credit insurance market for 2023.
  • Region-wise, North America held largest market share in 2023. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.

The key players profiled in the trade credit insurance market analysis are American International Group Inc., QBE Insurance (Australia) Ltd. , Atradius N.V., Aon Plc, Coface, Marsh LLC., Chubb Group Holdings Inc., Zurich Insurance Company Ltd, Authorized Policy Insurance Brokers Ltd., Credit Oman., Howden Group Holdings Ltd., Credendo, Allianz Saudi Fransi, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), HDFC ERGO General Insurance Company Limited and SINOSUR. These players have adopted various strategies to increase their market penetration and strengthen their position in the trade credit insurance industry.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Trade Credit Insurance Market By Component (Product, Services), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Coverage (Whole Turnover Coverage, Single Buyer Coverage), By Industry Vertical (Food and Beverages, IT and Telecom, Metals and Mining, Healthcare, Energy and Utilities, Automotive, Others), By Application (Domestic, International): Global Opportunity Analysis and Industry Forecast, 2023 - 2033 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
Further Reading

Published Date Jun 2025

Solar EPC Market

Download Sample

Buy Full Version
"Trade Credit Insurance Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers