A lead analyst at AMR highlighted that Canada extended warranty market across Asia-Pacific is anticipated to witness the fastest CAGR during the forecast period.
Download Sample Pages:
https://www.linkedin.com/feed/update/urn:li:activity:7042408102939226112/
Allied Market Research published a research report on Canada extended warranty market. The findings of the report state that the global market for Canada’s extended warranty generated $7.85 billion in 2021, and is projected to reach $22.27 billion by 2031, witnessing a CAGR of 11.3% from 2022 to 2031. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
Request Free Sample Report Now:
https://www.facebook.com/alliedmarketresearch/posts/pfbid02qJFJJC5SQs8BxxdibA4ukRwsHyccqgaP3kvuiXzpt99WYX5kZ2amPgFRQyXbNSsrl
“Factors such as the surge in awareness about extended warranty plans and high demand for additional coverages are propelling the growth of Canada’s extended warranty market,” said Kanhaiya Kathoke, Research Analyst, BFSI at Allied Market Research.
The report provides insights on drivers, restraints, and opportunities to help market players in devising growth strategies and capitalizing on opportunities. The growth of the Canadian extended warranty market is owed to the rise in the adoption of smartphones, computers, home appliances, and other such products, increased awareness regarding the extended warranty policies among consumers, and the expansion of e-commerce in Canada. On the other hand, the decline in sales of PCs has lowered the demand for extended warranty policies, thereby hindering the growth of the market. However, developing economies offer significant opportunities for insurers to expand their business by strengthening their policies. This factor is expected to offer lucrative opportunities for the market in the future.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on Canada’s extended warranty market globally. The outbreak of the pandemic moderately impacted the Canadian extended warranty market as several countries imposed travel bans, policyholders filed claims to demand further extension of extended warranty coverage, and there were changes in terms of policies in the Canadian market. All these factors led insurers to stop the sales of new coverage for extended warranties in the market. However, the market recovered soon due to the rise in government support & initiatives toward the insurance industry and the increase in purchasing power of customers to buy extended warranties in Canada.
The report offers a detailed segmentation of global Canada extended warranty market based on complete coverage, distribution channel, application, end user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest-growing and largest revenue-generating segments to accomplish growth in the coming years.
In terms of coverage, the standard protection plan segment held the major share of more than three-fourths of global Canada extended warranty market in 2021 and would lead the market in terms of revenue in 2031. The accidental protection plan segment, however, would cite the highest CAGR of 14.1% from 2022 to 2031.
By distribution channel, the manufacturer’s segment was the largest in 2021, accounting for nearly three-fifths of the global market, and is expected to maintain its lead in terms of revenue in 2031. However, the other segment is estimated to manifest the highest CAGR of 14.4% during the forecast period.
By end user, the individual segment captured the largest share in 2021, holding nearly two-thirds of the global market, and would maintain its dominance through 2031. However, the business segment is projected to register the fastest CAGR of 13.0% during the forecast period.
Leading market players of global Canada extended warranty market analyzed in the report include Assurant, Inc., American International Group, Inc., AutoPair Warranty Inc., AXA, Amtrust Financial, Asurion, Endurance Warranty Services, LLC, Ensurall, GuardTree Inc., and Toronto Appliances Service Ltd.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285 |UK: +44-845-528-1300 | Hong Kong: +852-301-84916 | India (Pune): +91-20-66346060|Fax: +1-855-550-5975
Email: help@alliedmarketresearch.com.
Follow us on LinkedIn, Twitter, Facebook, Pinterest, YouTube & Instagram.