Worldwide Boiler Insurance Industry to 2027 - Featuring AXA, British Gas and Future Generali Among Others - ResearchAndMarkets.com

DUBLIN--()--The "Boiler Insurance Market by Boiler Type, End User, Boiler Fuel and Coverage Type: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

Boiler insurance is a form of insurance policy that covers maintenance and replacement of a home boiler. It also provides coverages for components of heating system, including plumbing and electrical equipment. There is also a limit to how much an insurer may pay for maintenance related costs for damages. Moreover, the demand for boiler insurance is relatively high in winters, owing to higher use of boiler and related equipment. In addition to this, boiler insurance is mainly purchase by industrial companies as the equipment in the company is continuously running. The main advantage of boiler insurance is that it covers any costs that are incurred as a result of the time it took to repair the equipment and restore business operations.

The key factors that drive the growth of the global boiler insurance market include growing awareness about the boiler insurance among the industrial and commercial sector across the globe and rise in need to reduce the repairing and maintenance cost of the boiler among the end users. In addition to this, new services offered by major players of the market propels the growth of the market. However, lower awareness about boiler insurance among the general public of emerging countries such as Asia-Pacific and LAMEA and growing stringent regulation by the government hampers the growth of the market. Furthermore, surge in small & medium-sized enterprises expanding their businesses and rise in demand of third-party liability coverage in emerging economies is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

The global boiler insurance market is segmented into boiler type, end user, boiler fuel, coverage type and region. On the basis of boiler type, it is categorized into fire-tube and water-tube. According to end user, it is classified into chemicals, refineries, metal & mining, food& beverages and others. Depending on boiler fuel, it is divided into natural gas, coal, oil and others. In terms of coverage type, the market is fragmented into boiler cover, boiler & central heating cover and boiler, central heating, and plumbing & wiring cover. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • The study provides an in-depth analysis of global boiler insurance market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
  • Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

Market Dynamics

Drivers

  • Surge in Awareness About the Boiler Insurance Among the Industrial and Commercial Sector
  • Rise in Need to Reduce the Repairing and Maintenance Cost of the Boiler Among the End-users
  • New Services Offered by Major Players of the Market Propels the Growth of the Market

Restraint

  • Lower Awareness About Boiler Insurance Among the General Public of Emerging Countries in Asia-Pacific and LAMEA Region

Opportunity

  • Surge in Small & Medium Boiler Insurance Providers Across the Globe
  • Rise in Demand for Third-Party Liability Coverage in Emerging Economies

Key Players

  • AXA
  • AVIVA
  • British Gas
  • Domestic & General
  • Future Generali
  • Homeserve
  • The Hartford Steam Boiler Inspection & Insurance Company
  • Tata AIG General Insurance Company Limited
  • Warranty People
  • Yourrepai

For more information about this report visit https://www.researchandmarkets.com/r/6hdzpv

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900