Global Boiler Insurance Market Heightened Revenue Growth at CAGR +14% by end of 2027| AXA, AVIVA, British Gas, Domestic & General Group Limited, Future Generali, Homeserve, Tata AIG General Insurance Company Limited
Boiler insurance is a type of insurance that covers damage and loss caused by explosions inside or outside the boiler. A boiler is a steel pressure vessel in which liquids are heated to extremely high temperatures to produce steam or steam. The vapors exit the boiler for use in various processes or heating applications, including water heating, central heating, boiler-based power generation, cooking, and sanitation. The insurance covers the physical damage and financial loss caused by the repair or replacement of the damaged equipment after the failure. The insurance also covers the cost of replacing perishable goods damaged by the faulty equipment.
The global boiler insurance market saw strong growth between 2021 and 2027. The market is expected to grow with a CAGR of + 14% between 2021 and 2027.
Market trends for boiler insurance
The rapid digitization in the insurance sector, as well as the increasing need to reduce maintenance and repair costs for boilers and other devices, are one of the key factors for the growth of the market. In addition, small and medium-sized businesses are expanding their business and relying more heavily on third-party liability insurance solutions to mitigate their risks and losses, which drives market growth. Insurers are adopting novel strategies and policies to increase sales and improve the overall customer experience. In addition, various advances in technology, such as the integration of connected devices with voice-activated troubleshooting services, are other growth drivers. These novel solutions enable consumers to leverage advanced Artificial Intelligence (AI) -based services to connect directly to the business and provide real-time remedial action. Other factors, including rapid industrialization and the emergence of low-cost insurance policies, act as additional growth-inducing factors.
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Key players in the global boiler insurance market include AXA, AVIVA, British Gas, Domestic & General Group Limited, Future Generali, Homeserve, Tata AIG General Insurance Company Limited, Hartford Steam Boiler Inspection and Insurance Company, Warranty People and Yourrepair.
According to boiler type
With the boiler fuel
- natural gas
By type of coverage
- Boiler cover
- Boiler and central heating cover
- Boiler, central heating, plumbing and cable cover
According to end user
- Metal and mining
- food and drinks
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- Asia Pacific
- North America
- South America
- Middle East and Africa
Table of Contents:
Chapter 1: Overview of the Global Boiler Insurance Market
Chapter 2: Market Data Analysis
Chapter 3: Technical Data Analysis
Chapter 4: Government Policy and News
Chapter 5: Global Boiler Insurance Market Manufacturing Process
and cost structure
Chapter 6: Production Supply Sales Demand Market Status and Forecast
Chapter 7: Key Manufacturers
Chapter 8: Up- and Downstream Industry Analysis of Art Supplies
Chapter 9: Marketing Strategy
Chapter 10: Boiler Insurance Market Development Trend 2021-2027
Chapter 11: Feasibility Study for New Project Investments
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