Trade Credit Insurance Market Trends

The ‘Global Trade Credit Insurance Market Trends, Share, Size, Growth, Analysis, Key Players, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the global trade credit insurance market, assessing the market on the basis of its segments like component, enterprise size, coverages, industry vertical, application, and major regions.

Trade Credit Insurance Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2032)

  • Forecast CAGR (2024-2032): 8.6%
Report AttributeDetails
Historical Period2018-2023
Forecast Period2024-2032
Base Year2023
Growth Rate CAGR8.6%
Major PlayersAmerican International Group, Inc, Aon plc, Atradius N.V., Credendo – Export Credit
Agency, Euler Hermes SA, and QBE Insurance (Australia) Ltd., among others

Trade credit insurance offers various advantages to organisations which is leading to its heightened application across numerous sectors such as healthcare, automotive, and energy and utilities, among others. Trade credit insurance protects a firm against bad debts, fulfils the requirements of working capital, and manages non-performing assets for greater productivity in credit card management.

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Food and beverage sector, for instance, is prone to financial risks owing to potential supply chain disruptions, fluctuation of environment, and taste change of customers. In this regard, the increasing application of trade credit insurance to protect food and beverage companies from the risk of bankruptcy is driving the trade credit insurance market. In addition, financial losses in the food sector can lead to job losses of producers, manufacturers, suppliers, processor, and distributors, which is further escalating the dependence on trade credit insurance.

Trade credit insurance is also gaining traction in the automotive sector in order to provide financial assistance to small and new automotive firms. Over the forecast period, the anticipated increase in the emergence of new automotive brands and businesses, is expected to fuel the trade credit insurance market. Furthermore, the increasing financial awareness through various digital modes are expected to bolster the market dynamics in the coming years.

Trade Credit Insurance Industry Definition and Major Segments

Trade credit insurance, also known as debtor insurance, is defined as a process of assisting businesses by reimbursing the money lost by the inability of customers to pay. The price of trade credit insurance depends upon the customer base of an organisation, creditworthiness, and risk. Through this method, an organisation can improve their risk management, which is a crucial advantage driving the trade credit insurance market growth.

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Based on component, the market is segmented into:

  • Product
  • Services

On the basis of enterprise size, the market is divided into:

  • Large
  • Medium
  • Small
  • Others

By coverages, the market is segmented into:

  • Whole Turnover Coverage
  • Single Buyer Coverage

Based on industry vertical, the market is categorised into:

  • Food and Beverages
  • IT and Telecom
  • Metals and Mining
  • Healthcare
  • Energy and Utilities
  • Automotive
  • Others

On the basis of application, the market is bifurcated into:

  • Domestic
  • International

Based on region, the market can be categorised into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Trade Credit Insurance Market Trends

The key trends in the global trade credit insurance market include the technological advancements across various end use sectors including automotive and IT and telecom, which are altering the relative pricing and expanding the chances of business profitability. For instance, self-driving cars in the automotive sector are expected to gain traction leading to an expanded customer base, which in turn is likely to propel the demand for trade credit insurance.

Entry of new and dynamic businesses across various sectors is a crucial trend in the trade credit insurance market which is witnessing a heightened application to boost the efficiency of financial management and risk assessment. The increasing penetration of modern high end technological assistance, such as artificial intelligence, mobile application, machine learning, and Internet of Things, among others, are pushing the scalability of trade credit insurance.

In geographical terms, Asia Pacific accounts for a significant share in the market, which is being driven by a wave of entrepreneurship emerging across developing economies such as India and China. In addition, the favourable policies of the governments in the region aimed towards providing security and stability to the emerging businesses are further providing impetus to the market.

Key Market Players

The major players in the trade credit insurance market report are:

  • American International Group, Inc
  • Aon plc
  • Atradius N.V.
  • Credendo – Export Credit Agency
  • Euler Hermes SA
  • QBE Insurance (Australia) Ltd.
  • Others

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

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