Market Trend

According to the latest report by IMARC Group, titled “ Marine Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 .' offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. How Big is the Marine Insurance Market? the global marine insurance market size reached US$ 32.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028. What is Marine Insurance? Marine insurance refers to a type of insurance policy that covers the loss and damage of ships, cargo vessels, and terminals. It also includes other means of transportation by which goods are transferred between the point of origin and the final destination. It provides financial coverage against all potential marine-related perils exposed to the insured goods during transit...

According to the latest report by IMARC Group, titled “ Marine Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 .' the global marine insurance market size reached US$ 32.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028. Factors Affecting the Growth of the Marine Insurance Industry:    Global Trade Dynamics: The growth of the marine insurance market is intricately linked to global trade dynamics. As international trade expands, with increased movement of goods across seas, the demand for marine insurance naturally rises. The complexity and volume of traded goods necessitate protection against a range of risks, including piracy, cargo loss, and environmental disasters. However, fluctuations in global trade, influenced by geopolitical tensions, trade agreements, and economic downturns, can significantly impact the marine insura...