Global Logistics Insurance Market Overview

The Global Logistics Insurance market size was valued at USD 67.11 Billion in 2021 and is projected to reach USD 78.69 Billion by 2028, growing at a CAGR of 2.3% from 2022 to 2028.

The insurance policy that is particularly created to cover the commodities in any mode of transportation, including air, sea, land, and train, is known as Logistics Insurance. It provides coverage for cargo against a broad variety of physical losses or damages to freight resulting from external causes while in transit. The merchandise is transported around the globe via land, sea, train, or air. The likelihood of hauled items and products becoming lost or destroyed throughout the trip is very high. Cargo insurance can help in these situations by covering the loss. As no shipment is ever perfectly secure during transit and insurance is the only method to be compensated if something goes wrong, cargo insurance is crucial to the supply chain business. To handle their specific risks, the insurance sector provides logistics companies with a wide range of coverage options. These hazards vary from business to business based on factors like the mode of transportation or the kind of goods being sent. Logistics Insurance is highly robust due to regional and international mandates which force logistics companies to insure goods before transport activities and reduce the liability of goods which helps the market to grow exponentially.

Logistics Insurance Market

Market Dynamics And Factors For Logistics Insurance Market

Drivers:

Substantial growth in International Trade

The expansion of import-export operations among these nations is a result of the expanding trade contacts between diverse nations. Chances of physical harm to items as a result of mishaps brought on by outside sources including adverse weather, rotten goods, technical flaws, and others. Therefore, to avoid such occurrences, business owners get logistics insurance to be safeguarded against such damaged goods, which are of great worth because they are exported from several nations.

According to United Nations Conference on Trade and Development, Global trade is predicted to expand by 23% from 2020 to reach approximately USD 28 trillion in 2021. The volume of international trade is expected to recover from the pandemic and insurance companies are expected to see an upward trend in international logistics activities which will certainly boost the Logistics Insurance Market. Apart from that, Legal and commercial concerns are the two main drivers of the need for insurance. The intermediaries' legal responsibility is restricted. Clearing and forwarding agents, carriers, port and customs authorities, and other intermediaries handle the products at different stages. They are exempt from liability if the loss occurred despite their reasonable efforts to prevent it or if the damage was caused by events beyond their control. When shipping by water, their legal responsibility is now restricted to 100 pounds per box, and when shipping by air, airlines are currently only legally responsible for USD 16 per kilogram, subject to periodic changes. It is quite usual for this level of compensation to fall short of fully covering the exporter's loss. Thus, from the individual to Enterprise level, logistics insurance plays a crucial role in the trade of goods which is expected to push the market growth.

Restraints:

Absence Of Uniformity In Insurance Coverage

Different insurance policies will exclude coverage in different ways. There are various types of insurance policies. For instance, certain types of cargo are not covered under one policy. In some cases, only certain terminals and pieces of equipment are covered and losses brought on by specific incidents are not covered, or coverage is only applicable if a service is delivered in a specified way. Additionally, the financial liability of the majority of carriers is restricted by domestic and foreign treaty laws as well as by the U.S. Domestic Carmack Amendment. The logistic partner should always refer to a carrier's Bill of Lading, tariff, or other Terms and Conditions for particular limits of liability and should be aware that transportation companies are exempt from all types of liability. Such complexities heavily affect the logistic insurance companies which ultimately hampers the growth of the market.

Opportunity:

Integration of Smart Contracts in the Logistics Insurance Sector

Blockchain can potentially improve efficiency in global trade by greatly reducing bureaucracy and paperwork. For example, a multi-stakeholder process with a lengthy paper trail could be replaced with an automated process storing information in a tamper-evident digital format. Automation services that currently require an intermediary such as insurance, legal, brokerage, and settlement services. Blockchain could be used to track a product’s lifecycle and ownership transfer from origin to store shelf, even as it changes hands between the manufacturer, logistics service provider, wholesaler, retailer, and consumer. It would facilitate and automate each business transaction, enabling a more direct relationship between each participant (e.g., automating payments and transferring legal ownership between parties).

Smart contracts in International logistic insurance can play a revolutionary role to automate insurance-related rigorous paperwork. Smart contracts are blockchain-enabled products that have already made an impact on the business world. A computer program that sets the terms of an agreement, a smart contract automatically enforces the agreement when pre-defined rules are met. In logistic business, time is a crucial factor that can affect majorly to companies in a monetary aspect. Therefore, efficient insurance protocols can save major time and safeguard the goods. Moreover, blockchain technology is used by the US-based business ShipChain to create a logistics platform that supports the entire shipping process. The software enables all parties involved to follow the whereabouts of shipments at each stage of their trip. Using encrypted public ledgers, the software also updates data regarding projected delivery timings. After delivery is complete, photocopies of the documents are placed onto the platform, boosting the visibility and transparency of the products being transported. Therefore, the logistics insurance sector holds tremendous scope for integration of such technologies which can push the market growth.

Segmentation Analysis Of Logistics Insurance Market

By Type, the Marine Cargo Insurance segment dominates the Logistics Insurance Market. The foundation of international trade and the world economy is maritime transit. More than 80% of products traded internationally are transported by sea, and this proportion is significantly higher for the majority of developing nations. A marine cargo insurance policy offers comprehensive coverage against all the potential marine-related perils that the goods are exposed to while they are in transit. Marine insurance also covers third-party liabilities arising from any loss or damage caused to the ship, port, or other transport forms from the insured cargo. This type of insurance is mainly beneficial for tankers and other heavy cargo shipments. Simply put marine insurance policy safeguards the ship. According to Statista, Transport volume from marine logistics stood at 10.65 billion tons. Such volume of trade between countries showcases the importance and utilization of the marine cargo industry. For Logistics insurance companies, the Marine cargo industry plays a major role in the growth of the insurance sector.

By Coverage Type, Cargo Insurance dominates the Logistics Insurance Market. The most common kind of insurance used to protect shipments from physical harm or theft is cargo insurance. The value of the objects is guaranteed against damage that occurs during transport due to a well-protected cargo insurance policy. Because there is never an assurance that the goods won't be damaged, cargo insurance is crucial. In general, shippers must establish and record the worth of every piece of cargo in case there are any losses, damage, or dispute claims. Both domestic and international shipping and transit are subject to cargo insurance. Although it can be challenging to regulate and standardize coverage in another nation. According to the carrier liability doctrine, logistics and transportation providers are legally required to maintain a certain level of insurance protection while products are being sent and delivered. Therefore, the Cargo Insurance segment is expected to grow substantially during the forecasted period.

By End User, the Enterprise segment dominates the Logistics Insurance Market. Generally, special insurance coverage is made on the bulk cargos which are made by large enterprises for the long-haul transportation for an end to end coverage of their goods. Due to the high volume of goods, the risk of losses is greater and companies and trading enterprises are highly unlikely to neglect such risk. Therefore, logistics insurance has a large clientele that deals with bulk cargo and high volume intercity and cross-border trade. Also, the International mandate restricts enterprise-level businesses to transport goods without insurance to safeguard buyers and sellers to mitigate any possibility of dispute. The maritime association states that the goods must be insured against FoB value and shall be stated in the bill of lading. Therefore, the Enterprises segment most likely dominates the end-user segment. However, Individuals are also subject to mandatory logistics insurance if the amount or category of the goods falls under the regulation subject to country of origin and destination. The individual segment holds a substantially lower share of the market and is expected to follow the lead of the Enterprise segment in the Logistics Insurance Market

Regional Analysis Of Logistics Insurance Market

The European region dominates the Logistics Insurance Market.  The presence of a solid logistics infrastructure and the growing use of digital insurance are the main elements supporting this region's dominance. Automating compliance with regulations in the area is also likely to promote regional growth. The pricing of policies is significantly influenced by government regulatory actions, which are anticipated to have a substantial impact on the sector as a strong driver. Also, Europe is the major hub for global cargo transportation due to the existence of major ports. In 2021, Rotterdam's overall cargo throughput increased 7.3% to 468.7 million tonnes. Because more commodities were purchased during the epidemic, the number of containers grew by 6.6% to 15.3 million TEU in 2020. The economic recovery increased the throughput of crude oil and oil products in liquid form. Logistics Insurance mandates in European ports are strict and heavily enforced. Due to that, major insurance companies have created a base in Europe by recognizing the growing opportunity. Due to Such factors, European Market is expected to dominate the Logistics Insurance Market.

The Asia Pacific is the fastest growing and second largest region in Logistics Insurance Market. Due to top manufacturing countries like China, India, Japan, and South Korea, the logistics and cargo transportation sector have been on a rise with constant global demand from these countries which evolved into a high-functioning logistical ecosystem. According to data from the China Federation of Logistics and Purchasing, the logistics performance index, which measures business volume, new orders, employment, inventory turnovers, and equipment utility rates in the industry, reached 49.3% last month, an increase of 5.5 percentage points from the month before (CFLP). Additionally, according to the federation, during that time the index monitoring China's warehouse storage industry returned to the expansion range of 50.2%. The index for e-commerce logistics activities had a business relaunch in May, increasing 2.1 points from April to 104.3 points. With massive international trade and prominent domestic market conditions, Logistical insurance has a massive growth opportunity in top manufacturing countries in the Asia Pacific.

Covid-19 Impact Analysis On Logistics Insurance Market

The COVID-19 pandemic had a direct impact on logistics companies, which are involved in the flow, storage, and transfer of commodities. Logistics companies enable trade and commerce and assist companies in getting their products to clients as an essential component of value chains both domestically and beyond international borders. Therefore, supply chain interruptions brought on by the pandemic could affect the sector's competitiveness, economic expansion, and job creation. China was the first country to see the effects of COVID-19 because of its importance to a global industry (200 Fortune Global 500 Firms have a presence there). China is a significant consumer of agricultural and commodity goods from around the world. China's manufacturing disruptions have an impact on supply networks around the world. At China's main container ports, there was a backlog of cargo, travel restrictions made it difficult to find truck drivers to pick up containers, and ocean carriers postponed (or blanked) sailings. Manufacturing operations abroad were harmed by the consequent lack of components coming from China. The automobile, electronics, pharmaceutical, medical device, and consumer goods industries are all significant global industries. Due to the exact relation between trade and logistics insurance, declined activities of trade during the pandemic harmed the Logistics Insurance Market.

Top Key Players Covered In Logistics Insurance Market

  • Aon PLC
  • Atrium Corporation
  • Beazley Group
  • Gard AS
  • Liberty Mutual Insurance
  • Mitsui Sumitomo Insurance Company Limited
  • Peoples Insurance Agency
  • Samsung Fire & Marine Insurance Co. Ltd.
  • Sompo Japan Nipponkoa Insurance Inc.
  • Swiss Re Ltd
  • Tokio Marine Holdings Inc and other key players

Key Industry Development In The Logistics Insurance Market

In March 2020, To provide customers with protection against physical loss or damage to their products, Maersk has partnered with Zurich Insurance Plc (Zurich). This product is called Maersk Cargo Insurance.

In July 2022, A new co-innovation solution was unveiled by NTT DATA and SAP Asia Pacific and Japan (APJ) to enhance supply chain insurance management. The solution, dubbed Connected Product, was created in collaboration with SAP SE and NTT DATA, a pioneer in global digital business and IT services. This partnership furthers the strategic alliance established between NTT and SAP SE's parent company in 2020.

Global Logistics Insurance Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 67.11 Bn.

Forecast Period 2022-28 CAGR:

2.3%

Market Size in 2028:

USD 78.69 Bn.

Segments Covered:

By Type

  • Land Cargo Insurance
  • Marine Cargo Insurance
  • Air Transport Insurance

By Coverage Type

  • Cargo Insurance
  • Freight Forwarder Liability Insurance
  • Marine services liability
  • Energy logistics
  • Other

By End User

  • Individual,
  • Enterprises

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Substantial Growth In International Trade

Key Market Restraints:

  • Absence Of Uniformity In Insurance Coverage

Key Opportunities:

  • Integration of Smart Contracts in the Logistics Insurance Sector

Companies Covered in the report:

  • Aon PLC, Atrium Corporation, Beazley Group, Gard AS, Liberty Mutual Insurance, Mitsui Sumitomo Insurance Company Limited and Other major players.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Coverage Type
 3.3 By End User

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Logistics Insurance Market by Type
 5.1 Logistics Insurance Market Overview Snapshot and Growth Engine
 5.2 Logistics Insurance Market Overview
 5.3 Land Cargo Insurance
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Land Cargo Insurance: Grographic Segmentation
 5.4 Marine Cargo Insurance
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Marine Cargo Insurance: Grographic Segmentation
 5.5 Air Transport Insurance
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Air Transport Insurance: Grographic Segmentation

Chapter 6: Logistics Insurance Market by Coverage Type
 6.1 Logistics Insurance Market Overview Snapshot and Growth Engine
 6.2 Logistics Insurance Market Overview
 6.3 Cargo Insurance
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Cargo Insurance: Grographic Segmentation
 6.4 Freight Forwarder Liability Insurance
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Freight Forwarder Liability Insurance: Grographic Segmentation
 6.5 Marine services liability
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Marine services liability: Grographic Segmentation
 6.6 Energy logistics
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Energy logistics: Grographic Segmentation
 6.7 Other
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size (2016-2028F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Other: Grographic Segmentation

Chapter 7: Logistics Insurance Market by End User
 7.1 Logistics Insurance Market Overview Snapshot and Growth Engine
 7.2 Logistics Insurance Market Overview
 7.3 Individual
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Individual: Grographic Segmentation
 7.4 Enterprises
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Enterprises: Grographic Segmentation

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Positioning
  8.1.2 Logistics Insurance Sales and Market Share By Players
  8.1.3 Industry BCG Matrix
  8.1.4 Ansoff Matrix
  8.1.5 Logistics Insurance Industry Concentration Ratio (CR5 and HHI)
  8.1.6 Top 5 Logistics Insurance Players Market Share
  8.1.7 Mergers and Acquisitions
  8.1.8 Business Strategies By Top Players
 8.2 AON PLC
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Operating Business Segments
  8.2.5 Product Portfolio
  8.2.6 Business Performance
  8.2.7 Key Strategic Moves and Recent Developments
  8.2.8 SWOT Analysis
 8.3 ATRIUM CORPORATION
 8.4 BEAZLEY GROUP
 8.5 GARD AS
 8.6 LIBERTY MUTUAL INSURANCE
 8.7 MITSUI SUMITOMO INSURANCE COMPANY LIMITED
 8.8 PEOPLES INSURANCE AGENCY
 8.9 SAMSUNG FIRE & MARINE INSURANCE CO LTD
 8.10 SOMPO JAPAN NIPPONKOA INSURANCE INC.
 8.11 SWISS RE LTD
 8.12 TOKIO MARINE HOLDINGS INC
 8.13 OTHER MAJOR PLAYERS.

Chapter 9: Global Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 9.1 Market Overview
 9.2 Historic and Forecasted Market Size By Type
  9.2.1 Land Cargo Insurance
  9.2.2 Marine Cargo Insurance
  9.2.3 Air Transport Insurance
 9.3 Historic and Forecasted Market Size By Coverage Type
  9.3.1 Cargo Insurance
  9.3.2 Freight Forwarder Liability Insurance
  9.3.3 Marine services liability
  9.3.4 Energy logistics
  9.3.5 Other
 9.4 Historic and Forecasted Market Size By End User
  9.4.1 Individual
  9.4.2 Enterprises

Chapter 10: North America Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Land Cargo Insurance
  10.4.2 Marine Cargo Insurance
  10.4.3 Air Transport Insurance
 10.5 Historic and Forecasted Market Size By Coverage Type
  10.5.1 Cargo Insurance
  10.5.2 Freight Forwarder Liability Insurance
  10.5.3 Marine services liability
  10.5.4 Energy logistics
  10.5.5 Other
 10.6 Historic and Forecasted Market Size By End User
  10.6.1 Individual
  10.6.2 Enterprises
 10.7 Historic and Forecast Market Size by Country
  10.7.1 U.S.
  10.7.2 Canada
  10.7.3 Mexico

Chapter 11: Europe Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Land Cargo Insurance
  11.4.2 Marine Cargo Insurance
  11.4.3 Air Transport Insurance
 11.5 Historic and Forecasted Market Size By Coverage Type
  11.5.1 Cargo Insurance
  11.5.2 Freight Forwarder Liability Insurance
  11.5.3 Marine services liability
  11.5.4 Energy logistics
  11.5.5 Other
 11.6 Historic and Forecasted Market Size By End User
  11.6.1 Individual
  11.6.2 Enterprises
 11.7 Historic and Forecast Market Size by Country
  11.7.1 Germany
  11.7.2 U.K.
  11.7.3 France
  11.7.4 Italy
  11.7.5 Russia
  11.7.6 Spain
  11.7.7 Rest of Europe

Chapter 12: Asia-Pacific Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Land Cargo Insurance
  12.4.2 Marine Cargo Insurance
  12.4.3 Air Transport Insurance
 12.5 Historic and Forecasted Market Size By Coverage Type
  12.5.1 Cargo Insurance
  12.5.2 Freight Forwarder Liability Insurance
  12.5.3 Marine services liability
  12.5.4 Energy logistics
  12.5.5 Other
 12.6 Historic and Forecasted Market Size By End User
  12.6.1 Individual
  12.6.2 Enterprises
 12.7 Historic and Forecast Market Size by Country
  12.7.1 China
  12.7.2 India
  12.7.3 Japan
  12.7.4 Singapore
  12.7.5 Australia
  12.7.6 New Zealand
  12.7.7 Rest of APAC

Chapter 13: Middle East & Africa Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 Land Cargo Insurance
  13.4.2 Marine Cargo Insurance
  13.4.3 Air Transport Insurance
 13.5 Historic and Forecasted Market Size By Coverage Type
  13.5.1 Cargo Insurance
  13.5.2 Freight Forwarder Liability Insurance
  13.5.3 Marine services liability
  13.5.4 Energy logistics
  13.5.5 Other
 13.6 Historic and Forecasted Market Size By End User
  13.6.1 Individual
  13.6.2 Enterprises
 13.7 Historic and Forecast Market Size by Country
  13.7.1 Turkey
  13.7.2 Saudi Arabia
  13.7.3 Iran
  13.7.4 UAE
  13.7.5 Africa
  13.7.6 Rest of MEA

Chapter 14: South America Logistics Insurance Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Type
  14.4.1 Land Cargo Insurance
  14.4.2 Marine Cargo Insurance
  14.4.3 Air Transport Insurance
 14.5 Historic and Forecasted Market Size By Coverage Type
  14.5.1 Cargo Insurance
  14.5.2 Freight Forwarder Liability Insurance
  14.5.3 Marine services liability
  14.5.4 Energy logistics
  14.5.5 Other
 14.6 Historic and Forecasted Market Size By End User
  14.6.1 Individual
  14.6.2 Enterprises
 14.7 Historic and Forecast Market Size by Country
  14.7.1 Brazil
  14.7.2 Argentina
  14.7.3 Rest of SA

Chapter 15 Investment Analysis

Chapter 16 Analyst Viewpoint and Conclusion

Global Logistics Insurance Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 67.11 Bn.

Forecast Period 2022-28 CAGR:

2.3%

Market Size in 2028:

USD 78.69 Bn.

Segments Covered:

By Type

  • Land Cargo Insurance
  • Marine Cargo Insurance
  • Air Transport Insurance

By Coverage Type

  • Cargo Insurance
  • Freight Forwarder Liability Insurance
  • Marine services liability
  • Energy logistics
  • Other

By End User

  • Individual,
  • Enterprises

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Substantial Growth In International Trade

Key Market Restraints:

  • Absence Of Uniformity In Insurance Coverage

Key Opportunities:

  • Integration of Smart Contracts in the Logistics Insurance Sector

Companies Covered in the report:

  • Aon PLC, Atrium Corporation, Beazley Group, Gard AS, Liberty Mutual Insurance, Mitsui Sumitomo Insurance Company Limited and Other major players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. LOGISTICS INSURANCE MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. LOGISTICS INSURANCE MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. LOGISTICS INSURANCE MARKET COMPETITIVE RIVALRY
TABLE 005. LOGISTICS INSURANCE MARKET THREAT OF NEW ENTRANTS
TABLE 006. LOGISTICS INSURANCE MARKET THREAT OF SUBSTITUTES
TABLE 007. LOGISTICS INSURANCE MARKET BY TYPE
TABLE 008. LAND CARGO INSURANCE MARKET OVERVIEW (2016-2028)
TABLE 009. MARINE CARGO INSURANCE MARKET OVERVIEW (2016-2028)
TABLE 010. AIR TRANSPORT INSURANCE MARKET OVERVIEW (2016-2028)
TABLE 011. LOGISTICS INSURANCE MARKET BY COVERAGE TYPE
TABLE 012. CARGO INSURANCE MARKET OVERVIEW (2016-2028)
TABLE 013. FREIGHT FORWARDER LIABILITY INSURANCE MARKET OVERVIEW (2016-2028)
TABLE 014. MARINE SERVICES LIABILITY MARKET OVERVIEW (2016-2028)
TABLE 015. ENERGY LOGISTICS MARKET OVERVIEW (2016-2028)
TABLE 016. OTHER MARKET OVERVIEW (2016-2028)
TABLE 017. LOGISTICS INSURANCE MARKET BY END USER
TABLE 018. INDIVIDUAL MARKET OVERVIEW (2016-2028)
TABLE 019. ENTERPRISES MARKET OVERVIEW (2016-2028)
TABLE 020. NORTH AMERICA LOGISTICS INSURANCE MARKET, BY TYPE (2016-2028)
TABLE 021. NORTH AMERICA LOGISTICS INSURANCE MARKET, BY COVERAGE TYPE (2016-2028)
TABLE 022. NORTH AMERICA LOGISTICS INSURANCE MARKET, BY END USER (2016-2028)
TABLE 023. N LOGISTICS INSURANCE MARKET, BY COUNTRY (2016-2028)
TABLE 024. EUROPE LOGISTICS INSURANCE MARKET, BY TYPE (2016-2028)
TABLE 025. EUROPE LOGISTICS INSURANCE MARKET, BY COVERAGE TYPE (2016-2028)
TABLE 026. EUROPE LOGISTICS INSURANCE MARKET, BY END USER (2016-2028)
TABLE 027. LOGISTICS INSURANCE MARKET, BY COUNTRY (2016-2028)
TABLE 028. ASIA PACIFIC LOGISTICS INSURANCE MARKET, BY TYPE (2016-2028)
TABLE 029. ASIA PACIFIC LOGISTICS INSURANCE MARKET, BY COVERAGE TYPE (2016-2028)
TABLE 030. ASIA PACIFIC LOGISTICS INSURANCE MARKET, BY END USER (2016-2028)
TABLE 031. LOGISTICS INSURANCE MARKET, BY COUNTRY (2016-2028)
TABLE 032. MIDDLE EAST & AFRICA LOGISTICS INSURANCE MARKET, BY TYPE (2016-2028)
TABLE 033. MIDDLE EAST & AFRICA LOGISTICS INSURANCE MARKET, BY COVERAGE TYPE (2016-2028)
TABLE 034. MIDDLE EAST & AFRICA LOGISTICS INSURANCE MARKET, BY END USER (2016-2028)
TABLE 035. LOGISTICS INSURANCE MARKET, BY COUNTRY (2016-2028)
TABLE 036. SOUTH AMERICA LOGISTICS INSURANCE MARKET, BY TYPE (2016-2028)
TABLE 037. SOUTH AMERICA LOGISTICS INSURANCE MARKET, BY COVERAGE TYPE (2016-2028)
TABLE 038. SOUTH AMERICA LOGISTICS INSURANCE MARKET, BY END USER (2016-2028)
TABLE 039. LOGISTICS INSURANCE MARKET, BY COUNTRY (2016-2028)
TABLE 040. AON PLC: SNAPSHOT
TABLE 041. AON PLC: BUSINESS PERFORMANCE
TABLE 042. AON PLC: PRODUCT PORTFOLIO
TABLE 043. AON PLC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 043. ATRIUM CORPORATION: SNAPSHOT
TABLE 044. ATRIUM CORPORATION: BUSINESS PERFORMANCE
TABLE 045. ATRIUM CORPORATION: PRODUCT PORTFOLIO
TABLE 046. ATRIUM CORPORATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 046. BEAZLEY GROUP: SNAPSHOT
TABLE 047. BEAZLEY GROUP: BUSINESS PERFORMANCE
TABLE 048. BEAZLEY GROUP: PRODUCT PORTFOLIO
TABLE 049. BEAZLEY GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 049. GARD AS: SNAPSHOT
TABLE 050. GARD AS: BUSINESS PERFORMANCE
TABLE 051. GARD AS: PRODUCT PORTFOLIO
TABLE 052. GARD AS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. LIBERTY MUTUAL INSURANCE: SNAPSHOT
TABLE 053. LIBERTY MUTUAL INSURANCE: BUSINESS PERFORMANCE
TABLE 054. LIBERTY MUTUAL INSURANCE: PRODUCT PORTFOLIO
TABLE 055. LIBERTY MUTUAL INSURANCE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. MITSUI SUMITOMO INSURANCE COMPANY LIMITED: SNAPSHOT
TABLE 056. MITSUI SUMITOMO INSURANCE COMPANY LIMITED: BUSINESS PERFORMANCE
TABLE 057. MITSUI SUMITOMO INSURANCE COMPANY LIMITED: PRODUCT PORTFOLIO
TABLE 058. MITSUI SUMITOMO INSURANCE COMPANY LIMITED: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 058. PEOPLES INSURANCE AGENCY: SNAPSHOT
TABLE 059. PEOPLES INSURANCE AGENCY: BUSINESS PERFORMANCE
TABLE 060. PEOPLES INSURANCE AGENCY: PRODUCT PORTFOLIO
TABLE 061. PEOPLES INSURANCE AGENCY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 061. SAMSUNG FIRE & MARINE INSURANCE CO LTD: SNAPSHOT
TABLE 062. SAMSUNG FIRE & MARINE INSURANCE CO LTD: BUSINESS PERFORMANCE
TABLE 063. SAMSUNG FIRE & MARINE INSURANCE CO LTD: PRODUCT PORTFOLIO
TABLE 064. SAMSUNG FIRE & MARINE INSURANCE CO LTD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 064. SOMPO JAPAN NIPPONKOA INSURANCE INC.: SNAPSHOT
TABLE 065. SOMPO JAPAN NIPPONKOA INSURANCE INC.: BUSINESS PERFORMANCE
TABLE 066. SOMPO JAPAN NIPPONKOA INSURANCE INC.: PRODUCT PORTFOLIO
TABLE 067. SOMPO JAPAN NIPPONKOA INSURANCE INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 067. SWISS RE LTD: SNAPSHOT
TABLE 068. SWISS RE LTD: BUSINESS PERFORMANCE
TABLE 069. SWISS RE LTD: PRODUCT PORTFOLIO
TABLE 070. SWISS RE LTD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 070. TOKIO MARINE HOLDINGS INC: SNAPSHOT
TABLE 071. TOKIO MARINE HOLDINGS INC: BUSINESS PERFORMANCE
TABLE 072. TOKIO MARINE HOLDINGS INC: PRODUCT PORTFOLIO
TABLE 073. TOKIO MARINE HOLDINGS INC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 073. OTHER MAJOR PLAYERS.: SNAPSHOT
TABLE 074. OTHER MAJOR PLAYERS.: BUSINESS PERFORMANCE
TABLE 075. OTHER MAJOR PLAYERS.: PRODUCT PORTFOLIO
TABLE 076. OTHER MAJOR PLAYERS.: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. LOGISTICS INSURANCE MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. LOGISTICS INSURANCE MARKET OVERVIEW BY TYPE
FIGURE 012. LAND CARGO INSURANCE MARKET OVERVIEW (2016-2028)
FIGURE 013. MARINE CARGO INSURANCE MARKET OVERVIEW (2016-2028)
FIGURE 014. AIR TRANSPORT INSURANCE MARKET OVERVIEW (2016-2028)
FIGURE 015. LOGISTICS INSURANCE MARKET OVERVIEW BY COVERAGE TYPE
FIGURE 016. CARGO INSURANCE MARKET OVERVIEW (2016-2028)
FIGURE 017. FREIGHT FORWARDER LIABILITY INSURANCE MARKET OVERVIEW (2016-2028)
FIGURE 018. MARINE SERVICES LIABILITY MARKET OVERVIEW (2016-2028)
FIGURE 019. ENERGY LOGISTICS MARKET OVERVIEW (2016-2028)
FIGURE 020. OTHER MARKET OVERVIEW (2016-2028)
FIGURE 021. LOGISTICS INSURANCE MARKET OVERVIEW BY END USER
FIGURE 022. INDIVIDUAL MARKET OVERVIEW (2016-2028)
FIGURE 023. ENTERPRISES MARKET OVERVIEW (2016-2028)
FIGURE 024. NORTH AMERICA LOGISTICS INSURANCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 025. EUROPE LOGISTICS INSURANCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 026. ASIA PACIFIC LOGISTICS INSURANCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 027. MIDDLE EAST & AFRICA LOGISTICS INSURANCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 028. SOUTH AMERICA LOGISTICS INSURANCE MARKET OVERVIEW BY COUNTRY (2016-2028)

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Frequently Asked Questions :

What would be the forecast period in the Logistics Insurance Market research report?

The forecast period in the Logistics Insurance Market research report is 2022-2028.

Who are the key players in Logistics Insurance Market?

Aon PLC, Atrium Corporation, Beazley Group, Gard AS, Liberty Mutual Insurance, Mitsui Sumitomo Insurance Company Limited, Peoples Insurance Agency, Samsung Fire & Marine Insurance Co. Ltd., Sompo Japan Nipponkoa Insurance Inc., Swiss Re Ltd, Tokio Marine Holdings Inc. and other major players.

What are the segments of the Logistics Insurance Market?

The Logistics Insurance Market is segmented into Type, Coverage Type, End-User, and region. By Type, the market is categorized into Land Cargo Insurance, Marine Cargo Insurance, Air Transport Insurance. By Coverage Type, the market is categorized into Cargo Insurance, Freight Forwarder Liability Insurance, Marine services liability, Energy logistics, Other. By End-User Industry, the market is categorized into Individual, Enterprises. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.)

What is the Logistics Insurance Market?

Shipments are safeguarded against theft or physical damage via Logistics Insurance. Actually, cargo insurance guarantees that the value of the items is safeguarded against potential losses that may arise during air, sea, or land transportation.

How big is the Logistics Insurance Market?

Global Logistics Insurance Market size was valued at USD 67.11 billion in 2021, and is projected to reach USD 78.69 billion by 2028, growing at a CAGR of 2.3% from 2022 to 2028.