United States Commercial Insurance Market Size, Share & Forecast 2024-2028

Written by Manya  »  Updated on: July 07th, 2024

United States Commercial Insurance Market Size, Share & Forecast 2024-2028

United States Commercial Insurance Market Overview 2024-2028

Commercial insurance, also referred to as business insurance, serves as a protective shield for businesses, safeguarding them against various financial risks. It encompasses different types of coverage, including general liability insurance, product liability insurance, directors and officers (D&O) insurance, and employment practices liability insurance. By offering compensation for unforeseen losses, damages, or liabilities that may occur during business operations, commercial insurance provides a safety net for companies. This type of insurance plays a crucial role in mitigating the financial impact of unexpected events such as property damage, lawsuits, or employee injuries. By doing so, it allows businesses to recover swiftly and continue their operations without being excessively burdened by financial setbacks. As a result, businesses can focus more on their growth and day-to-day operations, leading to an increasing demand for commercial insurance in the United States.

The United States commercial insurance market size reached US$ 260.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 391.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.89% during 2024-2028.

United States Commercial Insurance Market Trends and Drivers:

At present, the increasing demand for commercial insurance, as it enables businesses to recover and continue operations without bearing the full financial burden, represents one of the vital factors impelling the growth of the market in the United States. Besides this, the rising focus on maintaining a positive work environment in workplaces by providing insurance policies to employees is strengthening the growth of the market in the country. In addition, the growing adoption of commercial insurance as it promotes stability and sustainability for businesses, helping them withstand unexpected challenges and thrive in the long run, is offering a favorable market outlook. Apart from this, the rising utilization of data analytics and artificial intelligence (AI) to gain insights into risk assessment, pricing, and customer behavior is bolstering the growth of the market in the country.

The report segmented the market on the basis of region, type, enterprise size, distribution channel and industry vertical.

Breakup by Type:

· Liability Insurance

· Commercial Motor Insurance

· Commercial Property Insurance

· Marine Insurance

· Others

Breakup by Enterprise Size:

· Large Enterprises

· Small and Medium-sized Enterprises

Breakup by Distribution Channel:

· Agents and Brokers

· Direct Response

· Others

Breakup by Industry Vertical:

· Transportation and Logistics

· Manufacturing

· Construction

· IT and Telecom

· Healthcare

· Energy and Utilities

· Others

Breakup by Region:

· Northeast

· Midwest

· South

· West

Key highlights of the report:

· Market Performance (2017-2022)

· Market Outlook (2024- 2028)

· Porter’s Five Forces Analysis

· Market Drivers and Success Factors

· SWOT Analysis

· Value Chain

· Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

1 Preface

2 Scope and Methodology

    2.1 Objectives of the Study

    2.2 Stakeholders

    2.3 Data Sources

        2.3.1 Primary Sources

        2.3.2 Secondary Sources

    2.4 Market Estimation

        2.4.1 Bottom-Up Approach

        2.4.2 Top-Down Approach

    2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

    4.1 Overview

    4.2 Key Industry Trends

5 United States Commercial Insurance Market

    5.1 Market Overview

    5.2 Market Performance

    5.3 Impact of COVID-19

    5.4 Market Forecast

6 Market Breakup by Type

    6.1 Liability Insurance

        6.1.1 Market Trends

        6.1.2 Market Forecast

    6.2 Commercial Motor Insurance

        6.2.1 Market Trends

        6.2.2 Market Forecast

    6.3 Commercial Property Insurance

        6.3.1 Market Trends

        6.3.2 Market Forecast

    6.4 Marine Insurance

        6.4.1 Market Trends

        6.4.2 Market Forecast

    6.5 Others

        6.5.1 Market Trends

        6.5.2 Market Forecast

7 Market Breakup by Enterprise Size

    7.1 Large Enterprises

        7.1.1 Market Trends

        7.1.2 Market Forecast

    7.2 Small and Medium-sized Enterprises

        7.2.1 Market Trends

        7.2.2 Market Forecast

8 Market Breakup by Distribution Channel

    8.1 Agents and Brokers

        8.1.1 Market Trends

        8.1.2 Market Forecast

    8.2 Direct Response

        8.2.1 Market Trends

        8.2.2 Market Forecast

    8.3 Others

        8.3.1 Market Trends

        8.3.2 Market Forecast

9 Market Breakup by Industry Vertical

    9.1 Transportation and Logistics

        9.1.1 Market Trends

        9.1.2 Market Forecast

    9.2 Manufacturing

        9.2.1 Market Trends

        9.2.2 Market Forecast

    9.3 Construction

        9.3.1 Market Trends

        9.3.2 Market Forecast

    9.4 IT and Telecom

        9.4.1 Market Trends

        9.4.2 Market Forecast

    9.5 Healthcare

        9.5.1 Market Trends

        9.5.2 Market Forecast

    9.6 Energy and Utilities

        9.6.1 Market Trends

        9.6.2 Market Forecast

    9.7 Others

        9.7.1 Market Trends

        9.7.2 Market Forecast

10 Market Breakup by Region

    10.1 Northeast

        10.1.1 Market Trends

        10.1.2 Market Forecast

    10.2 Midwest

        10.2.1 Market Trends

        10.2.2 Market Forecast

    10.3 South

        10.3.1 Market Trends

        10.3.2 Market Forecast

    10.4 West

        10.4.1 Market Trends

        10.4.2 Market Forecast

11 SWOT Analysis

    11.1 Overview

    11.2 Strengths

    11.3 Weaknesses

    11.4 Opportunities

    11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

    13.1 Overview

    13.2 Bargaining Power of Buyers

    13.3 Bargaining Power of Suppliers

    13.4 Degree of Competition

    13.5 Threat of New Entrants

    13.6 Threat of Substitutes

14 Price Analysis

15 Policy and Regulatory Landscape

16 Competitive Landscape

    16.1 Market Structure

    16.2 Key Players

    16.3 Profiles of Key Players

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