The fact that surety bonds can lower interest rates for borrowers as they reduce the risk for lenders drives the global surety market. By bond type, the contract surety bond segment contributed to the major share in 2021. By region, on the other hand, Asia-Pacific would showcase the fastest CAGR by 2031.
Portland, OR, March 03, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global surety market was estimated at $16 billion in 2021 and is expected to hit $24.4 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
|Market Size in 2021||$16 Billion|
|Market Size in 2031||$24.4 Billion|
|No. of Pages in Report||280|
|Segments Covered||Bond Type, End User, and Region.|
|Drivers||The fact that surety bonds can lower interest rates for borrowers as they reduce the risk for lenders|
|Rise in investment by the developing countries in the construction sector|
|Restraints||Certain risk factors associated with the dealings|
|Lack of knowledge about surety bonds|
|Opportunities||Rise in the number of small and medium-sized enterprises looking to enter the global market|
- The outbreak of the pandemic brought several uncertainties giving way to severe financial losses as various businesses worldwide were standstill.
- The cash flows and revenues of many businesses experienced a downfall during the global health crisis, which impacted the surety market negatively. However, the market has now got back on track.
The global surety market is analyzed across bond type, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By bond type, the contract surety bond segment contributed to more than one-third of the global surety market share in 2021, and is projected to rule the roost by 2031. The commercial surety bond segment, on the other hand, would display the fastest CAGR of 5.0% throughout the forecast period. The fidelity surety bond and court surety bond segments are also analyzed in the study.
By end user, the enterprises segment accounted for the highest share in 2021, generating more than three-fifths of the global surety market revenue. The same segment would also portray the fastest CAGR of 4.8% during the forecast period. The individual’s segment is also assessed through the report.
By region, North America held the major share in 2021, garnering nearly two-fifths of the global surety market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 7.0% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global surety market report include American Financial Group, Inc., Crum & Forster, The Travelers Indemnity Company, Liberty Mutual Insurance Company, The Hartford IFIC Security Group, CNA Financial Corporation, HCC Insurance Holdings Inc., Chubb, and AmTrust Financial Services. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits for Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surety market analysis from 2021 to 2031 to identify the prevailing surety market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the surety market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global surety market trends, key players, market segments, application areas, and market growth strategies.
Surety Market Report Highlights
- Contract Surety Bond
- Commercial Surety Bond
- Fidelity Surety Bond
- Court Surety Bond
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, Rest of LAMEA)
Key Market Players: Crum & Forster, CNA Financial Corporation, American Financial Group, Inc., The Travelers Indemnity Company, liberty mutual insurance company (u.k.) limited, the Hartford, HCC Insurance Holdings Inc., Chubb Limited, AmTrust Financial Services, IFIC Security Group
Want to Access the Statistical Data & Graphs, and Key Players’ Strategies: https://www.alliedmarketresearch.com/surety-market/purchase-options
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