Global Equipment Breakdown Insurance Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Equipment Breakdown Insurance Market Competitive Analysis with Size & Share Research and Forecast to 2030

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Description

Equipment Breakdown Insurance Market

Market Overview
Equipment Breakdown Insurance provides “Coverage for loss due to mechanical or electrical breakdown” of nearly any type of equipment. Coverage applies to the cost to repair or replace the equipment and any other property damaged by the equipment breakdown. Equipment breakdown insurance often covers complex equipment, systems, and processes, understanding and writing equipment breakdown insurance isn’t complex.
Equipment Breakdown Insurance is a form of property insurance. Its purpose is to insure against the financial losses – property damage, business interruption, and spoilage losses – that result from defined “accidents” to specified kinds of mechanical, electrical, and pressure equipment. Insured equipment may include such things as steam boilers, hot water boilers, pressure vessels, refrigerating and air conditioning systems, motors, generators, compressors, pumps, engines, fans, blowers, gear sets, turbines, transformers, 2 electrical switchgear, electronic equipment and a wide range of production and processing equipment.

Market Highlights
Equipment Breakdown Insurance market is expected to project a notable CAGR in 2031
Equipment Breakdown Insurance market to surpass USD XX.X billion by 2031 from USD XX.X billion in 2021 at a CAGR of XX.X% in the coming years, i.e., 2022-31. An Equipment Breakdown policy provides comprehensive, dependable coverage that works in tandem with a well-designed general property insurance package to help a business survive and thrive after a significant loss. The majority of facilities have a variety of modern controls and sensors, as well as Internet connectivity and complex electronic sub-components. Over the projection period, sustained development in developed markets, along with a larger proportion of emerging markets, is projected to boost worldwide growth in insurance breakdown equipment.

Equipment Breakdown Insurance market: Segments
segment to grow with the highest CAGR during 2021-31
Equipment Breakdown Insurance market is segmented by Application into Business and Manufacturing. The Business segment is anticipated to register the highest growth over the forecast period. It assists in the prevention of business disruptions. It also helps in the covering of perishable products and repair costs, which is driving the global equipment breakdown insurance market throughout the forecast period.
Type I segment to grow with the highest CAGR during 2021-31
Equipment Breakdown Insurance market is segmented by Type into Type I, Type II. Over the projection period, the Type I sector is expected to increase at the fastest rate as first type is referred more appropriately to as the coverage of “loss reduction expenses” and is only available when the coverage of business income is not accompanied by additional coverage of expenses. This coverage covers any expenses incurred to mitigate the loss of business income, but only to the degree that the expenses incurred minimize the loss of business income. This option is only available as part of a package with a fee. It is included in all kinds of company profit by default.

Equipment Breakdown Insurance market: Key Players
CNA Insurance
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Munich Re
FM Global Group
AIG
Liberty Mutual
SafecoInsurance
AXA XL
Aon
Travelers Insurance
Chubb

Equipment Breakdown Insurance market: Regions
Equipment Breakdown Insurance market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Equipment Breakdown Insurance market is dominated by North America. In the Equipment Breakdown Insurance market, North America is expected to have the highest market size during the forecast period as equipment breakdown insurance covers a wide range of disruptions, such as a web-based company whose servers are damaged, a business office complex with power failure, etc. & as the majority of companies are in North America.
Segmentation
By Type
Type I
Type II
By Application
Business
Manufacturing
Equipment Breakdown Insurance Market Dynamics
Equipment Breakdown Insurance Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Additional information

Publisher

Geography Covered

Date Published

,

Pages

Format

Table of Contents

Contents
1. Executive Summary
2. Equipment Breakdown Insurance market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Equipment Breakdown Insurance Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Equipment Breakdown Insurance Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Equipment Breakdown Insurance Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Latin America: (Brazil, Mexico, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Type I, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Type II, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Application: Market Share (2020-2030F)
12.3.1. Business, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Manufacturing, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. Company Profile
13.1. CNA Insurance
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Munich Re
13.3. FM Global Group
13.4. AIG
13.5. Liberty Mutual
13.6. SafecoInsurance
13.7. AXA XL
13.8. Aon
13.9. Travelers Insurance
13.10. Chubb
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

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