DUBLIN--(BUSINESS WIRE)--The "Horse Insurance Market By Type, By Horse Type, By Application, By Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the horse insurance market was valued at $458.67 million in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.
Horse insurance offers protection in the event that a horse suffers an illness or passes away, is no longer able to be employed for work, or causes someone harm or property damage. Moreover, if a horse causes harm to someone or damages their property, the horse company can be held liable. A stable, barn, or piece of equipment that is destroyed by fire or another hazard can also result in a loss for the company. Horse enterprises that purchase specialist equine/horse insurance can safeguard themselves against these unforeseen losses.
Increase in adoption of horse insurance to cover unexpected veterinary expenses, vaccinations and other routine care is driving the growth of the market. In addition, consistent improvement in the horse insurance plans with additional benefits is propelling the growth of the market.
However, lack of awareness among customers and high premiums for horse insurance are some factors that hamper the market growth. On the contrary, adoption of advanced technologies in insurance product lines is expected to boost the growth of the market in upcoming years. Moreover, increase in government initiatives for horse insurance is expected to provide lucrative opportunity for the market in upcoming years.
Key Benefits
- The study provides in-depth analysis of the global horse insurance market along with current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global horse insurance market size are provided in the report.
- The Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global horse insurance market from 2021 to 2031 is provided to determine the market potential.
Key Market Segments
By Type
- Mortality
- Major Medical Surgical
- Loss of Use
- Liability
- Others
By Horse Type
- American Quarter Horse
- Arabian
- Thoroughbred
- Morgan
- Appaloosa
- Others
By Application
- Recreational
- Recreational
- Riding
- Racing
- Grooming/Showing
- Others
- Commercial
By Sales Channel
- Broker
- Agency
- Direct Response
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Markel Corporation
- AXA
- Harry Hall Horse Insurance
- The Insurance Emporium Horse Insurance
- Animal Friends Horse Insurance
- Quotezone Horse Insurance
- Pet Plan
- ASPCA
- Nationwide
- Pet Assure
- Hollard
- ONE Insurance
- De Wet De Villiers Brokers
- Trusted Choice
- Broadstone Equine Insurance Agency
- Great American Insurance Group
- EPIC Insurance Brokers & Consultants
For more information about this report visit https://www.researchandmarkets.com/r/7vjyjr
