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Surety Market Is Expected To Reach $24.4 Billion By 2031
(MENAFN- EIN Presswire)
Surety market Is Expected to Reach $24.4 Billion by 2031
NEW CASTLE, DE, UNITED STATES, October 1, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global surety market was estimated at $16 billion in 2021 and is expected to hit $24.4 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Surety bonds can protect any company from financial liabilities. Several clients only prefer to work with contractors who have surety bonds in place. For instance, suppose a contractor fails to finish a task, the bond will pay for any losses caused by the client. This is because clients are aware that the bond guarantees that they will receive compensation if something goes wrong. Having surety bonds in place helps demonstrate to potential customers that the company is dependable and trustworthy. Surety bonds are a new concept in developing countries. As they carry a high degree of risk, many insurance firms have not yet developed the skill of assessing those risks. Owing tho this factor, the surety market industry may be hampered during the forecast period in developing regions.
By bond type, the contract surety bond segment contributed to more than one-third of the global surety market share in 2021, and is projected to rule the roost by 2031. The commercial surety bond segment, on the other hand, would display the fastest CAGR of 5.0% throughout the forecast period. The fidelity surety bond and court surety bond segments are also analyzed in the study.
By end user, the enterprises segment accounted for the highest share in 2021, generating more than three-fifths of the global surety market revenue. The same segment would also portray the fastest CAGR of 4.8% during the forecast period. The individual's segment is also assessed through the report.
By region, North America held the major share in 2021, garnering nearly two-fifths of the global surety market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 7.0% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global surety market report include American Financial Group, Inc., Crum & Forster, The Travelers Indemnity Company, Liberty Mutual Insurance Company, The Hartford IFIC Security Group, CNA Financial Corporation, HCC Insurance Holdings Inc., Chubb, and AmTrust Financial Services. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report helps formulate the business performance and developments by the top players.
Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures) @
Key Benefits for Stakeholders:
This report provides a quantitative analysis of the market segments, current trends , estimations, and dynamics of the surety market analysis from 2021 to 2031 to identify the prevailing surety market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the surety market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global surety market trends, key players, market segments, application areas, and market growth strategies.
Surety Market Report Highlights
Bond Type
Contract Surety Bond
Commercial Surety Bond
Fidelity Surety Bond
Court Surety Bond
End-User
Individuals
Enterprises
By Region
North America (U.S., Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, Rest of LAMEA)
Key Market Players: Crum & Forster, CNA Financial Corporation, American Financial Group, Inc., The Travelers Indemnity Company, liberty mutual insurance company (u.k.) limited, the Hartford, HCC Insurance Holdings Inc., Chubb Limited, AmTrust Financial Services, IFIC Security Group
Request PDF Brochure:
Surety bonds can protect any company from financial liabilities. Several clients only prefer to work with contractors who have surety bonds in place. For instance, suppose a contractor fails to finish a task, the bond will pay for any losses caused by the client. This is because clients are aware that the bond guarantees that they will receive compensation if something goes wrong. Having surety bonds in place helps demonstrate to potential customers that the company is dependable and trustworthy. Surety bonds are a new concept in developing countries. As they carry a high degree of risk, many insurance firms have not yet developed the skill of assessing those risks. Owing tho this factor, the surety market industry may be hampered during the forecast period in developing regions.
By bond type, the contract surety bond segment contributed to more than one-third of the global surety market share in 2021, and is projected to rule the roost by 2031. The commercial surety bond segment, on the other hand, would display the fastest CAGR of 5.0% throughout the forecast period. The fidelity surety bond and court surety bond segments are also analyzed in the study.
By end user, the enterprises segment accounted for the highest share in 2021, generating more than three-fifths of the global surety market revenue. The same segment would also portray the fastest CAGR of 4.8% during the forecast period. The individual's segment is also assessed through the report.
By region, North America held the major share in 2021, garnering nearly two-fifths of the global surety market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 7.0% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global surety market report include American Financial Group, Inc., Crum & Forster, The Travelers Indemnity Company, Liberty Mutual Insurance Company, The Hartford IFIC Security Group, CNA Financial Corporation, HCC Insurance Holdings Inc., Chubb, and AmTrust Financial Services. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report helps formulate the business performance and developments by the top players.
Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures) @
Key Benefits for Stakeholders:
This report provides a quantitative analysis of the market segments, current trends , estimations, and dynamics of the surety market analysis from 2021 to 2031 to identify the prevailing surety market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the surety market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global surety market trends, key players, market segments, application areas, and market growth strategies.
Surety Market Report Highlights
Bond Type
Contract Surety Bond
Commercial Surety Bond
Fidelity Surety Bond
Court Surety Bond
End-User
Individuals
Enterprises
By Region
North America (U.S., Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, Rest of LAMEA)
Key Market Players: Crum & Forster, CNA Financial Corporation, American Financial Group, Inc., The Travelers Indemnity Company, liberty mutual insurance company (u.k.) limited, the Hartford, HCC Insurance Holdings Inc., Chubb Limited, AmTrust Financial Services, IFIC Security Group
David Correa
Allied Market Research
+ +1 800-792-5285
email us here
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