Global Trade Credit Insurance Market: Mitigating Risks in Uncertain Times

Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Trade Credit Insurance Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts- 2023 to 2031" report has been added to's offering.

The report analyzes the trade credit insurance market and its growth trends from 2023 to 2031. Trade credit insurance is an essential component of the global trade ecosystem, providing financial protection to businesses against the risk of non-payment by their customers. The market revenue of trade credit insurance has been steadily growing over the years, driven by increasing trade volumes, globalization, and the need for risk mitigation in uncertain economic conditions.

The CAGR of the trade credit insurance market is expected to be 11% during the forecast period of 2023 to 2031, reflecting the growing demand for risk management solutions in the business landscape.

The report highlights several key drivers contributing to the growth of the trade credit insurance market:

  1. Increasing Global Trade Volume: The expansion of global trade volume drives the demand for trade credit insurance. As international trade continues to grow, businesses face higher exposure to credit risks and non-payment from their customers. Trade credit insurance acts as a vital risk management tool, providing coverage against such risks and facilitating trade transactions.
  2. Economic Uncertainty and Financial Instability: Economic uncertainties and financial instability are key drivers of the trade credit insurance market. In times of economic downturns, businesses face higher risks of customer insolvency, bankruptcy, and payment defaults. Trade credit insurance provides a safety net by indemnifying businesses against losses arising from such events.
  3. Focus on Risk Mitigation and Cash Flow Management: Businesses are increasingly recognizing the importance of risk mitigation and effective cash flow management. Trade credit insurance offers an effective solution for managing credit risks and ensuring a steady cash flow. This driver is particularly relevant for small and medium-sized enterprises (SMEs) that may have limited resources to absorb losses from unpaid invoices.
  4. Economic Volatility and Default Risks: Economic volatility and associated default risks present a restraint to the trade credit insurance market. Economic downturns, recessions, and financial crises can lead to increased business insolvencies and defaults on trade payments, making it more difficult for insurance providers to assess risks accurately and determine appropriate premium rates.

The report further segments the market based on enterprise size, coverage type, application, end-use, and region. It provides market revenue and compound annual growth rate (CAGR) projections for each segment during the forecast period.

  • Enterprise Size: The market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Large enterprises contribute significantly to the revenue of the trade credit insurance market due to their substantial trade volumes and global presence. On the other hand, SMEs represent a dynamic and diverse segment that is expected to exhibit a higher CAGR during the forecast period as more SMEs recognize the importance of protecting their cash flows and minimizing credit risks.
  • Coverage Type: The market is categorized into Whole Turnover Coverage and Single Buyer Coverage. Whole turnover coverage provides comprehensive protection for an enterprise's entire portfolio of trade receivables, while single buyer coverage focuses on insuring specific buyer accounts or transactions.
  • Application: The market is divided into Domestic and International trade credit insurance.
  • End-use: The market includes various industries such as Food & Beverage, IT & Telecom, Healthcare, Energy, Automotive, and others.
  • Region: The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

In terms of revenue, North America remained the dominant market in 2022, driven by the presence of a strong and developed economy. However, the highest CAGR is observed in emerging economies of the Asia-Pacific region, which presents significant opportunities for the trade credit insurance market.

The trade credit insurance market is highly competitive, with several key players striving to capture a significant market share. Some of the top players include Euler Hermes, Coface, Atradius, and Zurich Insurance Group. These companies offer a wide range of trade credit insurance products and services to cater to the diverse needs of businesses across different industries.

Overall, the report provides comprehensive insights into the trade credit insurance market, including market drivers, challenges, trends, and growth projections for different segments and regions. It also offers strategic recommendations and profiles of key competitors to help businesses make informed decisions.

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