市场调查报告书
商品编码
1491710
全球电动车保险市场评估:依电动车类型、计画类型、车辆类型、覆盖范围、通路、地区、机会、预测(2017-2031)EV Insurance Market Assessment, By EV Type, By Plan Type, By Vehicle Type, By Coverage, By Distribution Channel, By Region, Opportunities and Forecast, 2017-2031F |
全球电动车保险市场规模预计将从 2023 年的 600.2 亿美元增至 2031 年的 2,388.6 亿美元,2024-2031 年预测期间复合年增长率为 18.85%。市场扩张可归因于对便利和环保交通的日益增长的需求以及全球可持续发展和减少碳足迹的运动。这种双重转变正在使市场走上上升轨道。
电动车保险市场正受到电动车激增的影响。由于环保意识、政府激励措施和技术进步,越来越多的消费者选择电动车,针对电动车车主独特需求的专业保险产品的需求不断增长。电动车具有独特的补偿需求,例如电池更换成本和充电基础设施损坏,因此正在开发保险来应对这些风险。此外,永续发展和减少碳排放的全球趋势正在推动消费者选择电动车,为保险公司创造一个迎合环保意识驱动者的关键市场。政府对电动车车主的税收抵免和回扣等法规正在进一步加速向电动车的过渡,并增加对电动车保险的需求。随着电动车市场的不断成长和发展,保险公司面临日益激烈的竞争。这促使了创新保险选项的发展和市场竞争的加剧,刺激了全球电动车保险市场的扩张。
网路和行动装置在全球的普及
网路连线扩展到世界各个角落,促使线上活动显着增加,尤其是在电动车保险领域。智慧型手机已成为现代许多人的必备工具。智慧型手机和平板电脑的使用增加,以及透过 4G 和 5G 等技术实现高速互联网接入,正在刺激数位技术的传播。此外,金融机构越来越多地转向基于云端的软体来简化操作并远端存取关键数据。此举使企业能够掌握最新交易并利用云端技术的优势来提高效率。
2022 年 1 月发表的一篇 InsurTech 文章探讨了保险公司利用云端服务的多种方式,包括平台託管、资料储存、备份、行销活动和 ERP 整合。随着全球网路存取和行动装置的普及,电动车保险市场预计在未来几年将大幅成长。预计这一趋势将在预测期内推动电动车保险产品和服务的扩展。
电动车保险需求上升成为成长趋势
近几个月来,电动自行车和电动车受到诟病的趋势呈上升趋势,但这并没有阻止电动车的日益普及。儘管还处于早期阶段,保险公司目前正在密切关注这个不断增长的细分市场。Bajaj Allianz General 和 HDFC ERGO 等领先保险公司已经建立了专门的平台来满足电动车车主的需求,并为潜在买家提供有价值的资讯。2022年,全球电动车销量将首次突破1,000万辆。2023年第一季度,全球电动车销量超过230万辆,较去年同期成长约25%。
随着电动车越来越普及,电动车保险费不断上涨。根据Quadrant Information Services数据显示,2023年全险车险年平均费用为2,008美元。具体到电动车,电动车的保险费预计比传统汽车高 10% 至 135%,具体取决于车型。
本报告研究和分析了全球电动车保险市场,提供市场规模和预测、市场动态以及主要参与者的现状和前景。
Global EV insurance market is projected to witness a CAGR of 18.85% during the forecast period 2024-2031, growing from USD 60.02 billion in 2023 to USD 238.86 billion in 2031. The market's expansion can be credited to a rise in the need for convenient and environmentally friendly transportation choices, coupled with a global drive towards sustainability and reducing carbon footprints. The dual transition is driving the market towards an upward trajectory.
The electric vehicle insurance market is impacted by the increasing adoption of electric vehicles. With more consumers choosing EVs due to environmental awareness, government incentives, and technological progress, there is a growing demand for specialized insurance products tailored to the unique requirements of electric vehicle owners. Electric vehicles (EVs) have specific coverage needs such as battery replacement costs and damage to charging infrastructure, leading to the development of insurance policies that address these risks. Additionally, the global trend towards sustainability and lower carbon emissions encourages consumers to opt for EVs, creating a significant market for insurers catering to environmentally conscious drivers. Government regulations, such as tax credits and rebates for EV owners, further promote the shift to electric vehicles and drive the need for EV insurance. As the electric vehicle market continues to grow and evolve, insurance providers face heightened competition. It is leading to the development of innovative coverage options and more competitive pricing, which in turn is fueling the expansion of the global EV insurance market.
Increase in Global Internet and Mobile Device Penetration
The expansion of internet connectivity in every corner of the world has led to a significant increase in online activity, particularly in the realm of EV insurance. Smartphones have become an essential tool for many individuals in the modern era. The rise in smartphone and tablet usage, combined with access to high-speed internet through technologies such as 4G and 5G, has fueled the widespread adoption of digital technology. In addition, financial institutions are increasingly turning to cloud-based software to streamline their operations and access crucial data remotely. The move allows businesses to stay current with their transactions and leverage the benefits of cloud technology for improved efficiency.
InsurTech's article, published in January 2022, highlighted various ways insurers can leverage cloud services, including platform hosting, data storage, backup, marketing campaigns, and ERP integration. With the global proliferation of internet access and mobile devices, the EV insurance market is poised for significant growth in the coming years. The trend is expected to drive the expansion of EV insurance offerings and services during the forecast period.
Rising Demand for Electric Vehicle Insurance as a Growing Trend
The trend of electric bikes and cars catching fire has increased in recent months but has not deterred the increasing popularity of electric vehicles. Insurance companies are now paying close attention to this growing segment despite being in the early stages. Major insurers such as Bajaj Allianz General and HDFC ERGO have established dedicated platforms to cater to the needs of electric car owners and provide valuable information to potential buyers. Worldwide, the sales of electric vehicles surpassed 10 million units for the first time in 2022. During the initial quarter of 2023, more than 2.3 million electric vehicles were sold globally, marking a growth of approximately 25% compared to the previous year.
With the increasing popularity of electric vehicles (EVs), the cost of insuring these vehicles has been on the rise. Data from Quadrant Information Services indicated that the average annual cost of full-coverage car insurance in 2023 was USD 2,008. When focusing on electric vehicles specifically, the estimates suggest that insuring an EV can be between 10% and 135% more expensive than traditional vehicles, varying based on the specific model.
The surge in electric vehicle purchases in countries such as Japan, India, China, and others has led to significant growth in the demand for EV insurance. Electric vehicles are quickly becoming the preferred mode of transportation due to their silent operation, eco-friendly nature, and cost savings from not using petrol or diesel. However, owning an electric vehicle comes with additional costs, such as expensive repairs and replacement parts like batteries. With an EV, an insurance policy is crucial to protect vehicle owners from hefty repair and replacement costs in case of damage or depreciation. The growing need for insurance coverage drives the global EV insurance market forward and creates new opportunities for insurers.
Rising Expansion of Electric Vehicle Insurance Market in Asia-Pacific
Asia-Pacific is witnessing a significant surge in demand for Electric Vehicle (EV) insurance, fueled by the booming tourism sector and the ongoing urbanization trends. The increasing urban population in Asia-Pacific has led to a growing need for specialized insurance products for electric vehicles. With tailored coverage, reduced premiums for eco-friendly vehicles, and comprehensive protection, EV insurance is becoming increasingly popular in the region. Government efforts to promote clean energy and sustainable development have played a vital role in driving the growth of the EV insurance market in Asia-Pacific. Leading industry players are heavily investing in research and development, expanding their market presence, and catering to the region's diverse insurance requirements of electric vehicle owners. As a result, the Asia-Pacific EV insurance market is poised for substantial expansion in the coming years, ensuring that electric vehicle owners have access to the necessary insurance coverage to protect their vehicles and investments.
Insights into Electric Vehicle Insurance Coverage Trends
The electric vehicle insurance market is categorized into two main segments: third-party liability coverage and comprehensive coverage. Among these segments, third-party liability coverage is projected to experience rapid growth and dominate the market, with a substantial volume share from 2023 to 2031. Third-party liability coverage is crucial for meeting legal mandates and providing financial protection in accidents. This necessity will contribute to the continued dominance of this type of coverage over the forecast period. Additionally, as the adoption of electric vehicles continues to rise, there will be an increased need for insurance coverage tailored to the unique characteristics of these vehicles with the evolving landscape of electric vehicles and insurance requirements, there is a growing opportunity for insurance providers to develop specialized products and services catering specifically to the needs of electric vehicle owners. By staying ahead of these trends and offering tailored coverage options, insurance companies can effectively meet the market's evolving needs and establish themselves as leaders in the electric vehicle insurance sector.
Insights into Electric Vehicle (EV) Insurance Distribution Channels
The Electric Vehicle (EV) Insurance Market segmentation, based on Distribution Channels, includes categories such as Insurance Companies, Banks, Insurance Agents/Brokers, and Others. Among these, Insurance Agents/Brokers are expected to experience substantial growth. This growth can be attributed to various factors, such as acting as intermediaries, offering personalized advice, and creating tailored EV insurance solutions to meet clients' individual needs. Furthermore, the expanding EV market necessitates expert guidance in navigating insurance options. Insurance Agents/Brokers play a critical role in raising customer awareness about EV insurance, ensuring that EV owners receive comprehensive coverage that addresses unique risks associated with electric vehicles, concerns related to batteries, and environmental benefits. With their ability to offer a wide range of insurance products and facilitate connections between clients and insurance providers, Insurance Agents/Brokers are pivotal for driving growth in the EV insurance market.
Future Market Scenario (2024 - 2031F)
The global electric vehicle (EV) insurance market is expected to experience rapid growth in the coming years due to the increasing adoption of electric vehicles worldwide. As more consumers switch to EVs, there will be a growing demand for specialized insurance products tailored to the unique needs of EV owners.
Insurers are likely to offer innovative insurance solutions to cater to the specific requirements of EV owners. This may include coverage for battery-related issues, charging infrastructure, and autonomous driving features. Insurers may also introduce usage-based insurance models leveraging telematics technology.
Regulatory changes and government incentives promoting the adoption of electric vehicles may impact the EV insurance market. Insurers must adapt to evolving regulations and policies to provide compliant and competitive insurance products for EV owners.
The growing EV insurance market is expected to attract both traditional insurers and new entrants looking to capitalize on this emerging sector. This may lead to increased competition and collaboration within the industry as players strive to differentiate themselves and offer value-added services to EV owners.
Key Players Landscape and Outlook
The future of the global EV insurance market is set to be shaped by a diverse range of players, each bringing unique strengths and capabilities to meet the evolving needs of EV owners. Established insurance companies such as Allstate, State Farm, and The Government Employees Insurance Company are expected to play a significant role, leveraging their resources and experience to offer competitive EV insurance products. At the same time, specialized EV insurance providers such as Tesla Insurance and Electric Insurance Company are emerging to cater specifically to the unique requirements of EV owners, offering tailored coverage options and services.
Technology companies such as Google and Amazon are entering the global EV insurance market, utilizing their technological expertise and data analytics capabilities to provide innovative insurance solutions for EV owners. Collaborations and partnerships between traditional insurers, EV manufacturers, and technology companies will likely shape the future landscape of the EV insurance market, leading to the development of integrated insurance solutions that combine vehicle data, telematics, and smart technology. Players in the EV insurance market must adapt to changing market dynamics, regulatory requirements, and technological advancements to remain competitive in the rapidly growing sector.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work