Auto Extended Warranty Market Growth, Size, Trends, Revenue, Demand, Challenges and Share

Auto Extended Warranty Market Size- By Coverage, By Distribution Channel, By Vehicle Age, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Auto Extended Warranty Market Size- By Coverage, By Distribution Channel, By Vehicle Age, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Jul 2023 Report ID: BFSI2338 Pages: 1 - 244 Formats*:     
Category : BFSI
Auto Extended Warranty Market Introduction and Overview  

According to SPER Market Research, the Global Auto Extended Warranty Market is estimated to reach USD 68.51 billion by 2033 with a CAGR of 6.13%.

The report includes an in-depth analysis of the Global Auto Extended Warranty Market, including market size and trends, product mix, distribution channels, and supplier analysis. Global Auto Extended Warranty is designed for cars to tackle the tear and wear of cars. This is done after the expiration process of the warranty of the manufacturers. It is a kind of insurance policy. This warranty is optional and is provided at an extra cost by manufacturers, independent providers, and dealerships. The global auto extended warranty provides protection on various electrical and mechanical components. Those components do not come under the general auto warranty services such as the electrical system, air conditioning, powertrain and others.

  • The global auto extended warranty market will show robust growth during their period of forecast. The factors which impact market growth involve awareness increase for the extended warranty and also an increase in the costly repair bills.
Auto Extended Warranty Market
Market Opportunities and Challenges
For market participants, the global auto extended warranty market offers both opportunities and challenges.

Opportunities:
  • The use of electronic devices increased because of increments in job opportunities, digitalization, and the advancement of technology. So, the demand for electronic devices is increasing. The rapid increase in digitalization and development worldwide is beneficial for the growth of the market.
  • Continuous growth has been seen in the transportation and the automotive sector. The warranty extension demand will increase continuously, with the increase in auto sales.
Challenges:
  • In underdeveloped regions, consumers based in Africa and South America are less aware of the extended warranty. When they were aware of it, they do not want to pay more towards the extended warranty. In the regions, where the spend capacity is less and also the per capita income, then the consumers will only be able to buy the basic products. This is the major critical threat to the growth of the market in developing regions.
  • There are inbuilt systems that give warning before any product stops functioning. This warning sign will allow the consumers to fix the problem without any damage to the automobile and electronic products.
Auto Extended Warranty Market


Market Competitive Landscape
The key players in the global auto extended warranty market size include TATA Motors Limited, Olive, Endurance Warranty Services, LLC, Concord Auto Protect, CarShield LLC, CARCHEX, AXA, ASSURANT, Inc., AmTrust Financial,  AAA Warranty Services Others. There are various strategies that are adopted by these key players such as the expansion of the product portfolio, agreements, collaborations, acquisitions and mergers, others. 

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments covered
By Coverage, By Distribution Channel, By Vehicle Age, By Application
 Regions coveredAsia-Pacific, Middle East and Africa, Europe, North America, Latin America
 Companies Covered
AAA Warranty Services, AmTrust Financial, ASSURANT INC., AXA, CARCHEX, Carshield LLC, Concord Auto Protect, Olive, TATA Motors Limited, Others
COVID-19 Impact on the Global Auto Extended Warranty Market 
The global economic slowdown due to the surge in COVID-19 cases has particularly affected the world negatively. The auto extended market leads to a decline in sales based on vehicles when the travel ban is imposed by the government. At that time, the vehicles were not in use, so the chances based on the breakdown of vehicles were more. The market players were then providing services to those owners. This particular key factor helps in the increment in sales. The policies based on work-from-home and social distancing reduce the use of vehicles.

Key Target Audience:
  • Used car buyers
  • New car buyers
  • Vehicle owners
  • High-mileage vehicle owners
  • Automobile enthusiasts
  • Consumers seeking financial security
  • Business owners and fleet managers
  • Others
Our in-depth analysis of the Auto Extended Warranty Market includes the following segments:
By Coverage:
  • Powertrain
  • Stated component
  • Exclusionary
  • By Distributional Channel:
  • Auto Dealers/ Manufacturers
  • Third-party providers
  • By Vehicle Age:
  • New Vehicle
  • Used Vehicle
  • By Application:
  • Commercial
  • Personal
  • Key Topics Covered in the Report:
    • Global Auto Extended Warranty Market Size (FY’2023-FY’2033)
    • Overview of the Global Auto Extended Warranty Market
    • Segmentation of Global Auto Extended Warranty Market By Coverage (Power strain, Stated Component, Exclusionary)
    • Global Auto Extended Warranty Market By Distribution Channel (Auto Dealers/ manufacturers, Third-party providers)
    • Global Auto Extended Warranty Market By Vehicle Age (New Vehicle, Used Vehicle)
    • Global Auto Extended Warranty Market By Application (Personal, & Commercial)
    • Statistical Snap of Global Auto Extended Warranty Market
    • Expansion Analysis of the Global Auto Extended Warranty Market
    • Problems and Obstacles in Global Auto Extended Warranty Market
    • Competitive Landscape in the Global Auto Extended Warranty Market
    • Impact of COVID-19 and Demonetization on the Global Auto Extended Warranty Market 
    • Details on Current Investment in Global Auto Extended Warranty Market 
    • Competitive Analysis of the Global Auto Extended Warranty Market 
    • Prominent Players in the Global Auto Extended Warranty Market 
    • SWOT Analysis of the Global Auto Extended Warranty Market 
    • Global Auto Extended Warranty Market Future Outlook and Projections (FY’2023-FY’2033)
    • Recommendations from Analyst
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis
    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Auto Extended Warranty Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Auto Extended Warranty Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Auto Extended Warranty Market

    7. Global Auto Extended Warranty Market, By Coverage (USD Million)
    7.1. Global Auto Extended Warranty Market Value Share and Forecast, By Coverage, 2023-2033
    7.2. Powertrain
    7.3. Stated component
    7.4. Exclusionary

    8. Global Auto Extended Warranty Market, By Distributional Channel (USD Million)
    8.1. Global Auto Extended Warranty Market Value Share and Forecast, By Distribution Channel, 2023-2033
    8.2. Auto Dealers/ Manufacturers
    8.3. Third-party providers

    9. Global Auto Extended Warranty Market, By Vehicle Age (USD Million)
    9.1. Global Auto Extended Warranty Market Value Share and Forecast, By Vehicle Age, 2023-2033
    9.2. New Vehicle
    9.3. Used Vehicle

    10. Global Auto Extended Warranty Market, By Application (USD Million)
    10.1. Global Auto Extended Warranty Market Value Share and Forecast, By Application, 2023-2033
    10.2. Commercial
    10.3. Personal
    10.4. Others 

    11. Global Auto Extended Warranty Market Forecast, 2019-2033 (USD Million)
    11.1. Global Auto Extended Warranty Market Size and Market Share

    12. Global Auto Extended Warranty Market Forecast, By Coverage, 2019-2033 (USD Million)
    12.1. Global Auto Extended Warranty Market Size and Market Share By Coverage (2019-2026)
    12.2. Global Auto Extended Warranty Market Size and Market Share By Coverage (2027-2033)

    13. Global Auto Extended Warranty Market Forecast, By Distributional Channel, 2019-2033 (USD Million)
    13.1. Global Auto Extended Warranty Market Size and Market Share By Distribution Channel (2019-2026)
    13.2. Global Auto Extended Warranty Market Size and Market Share By Distribution Channel (2027-2033)

    14. Global Auto Extended Warranty Market Forecast, By Vehicle Age, 2019-2033 (USD Million)
    14.1. Global Auto Extended Warranty Market Size and Market Share By Vehicle Age (2019-2026)
    14.2. Global Auto Extended Warranty Market Size and Market Share By Vehicle Age (2027-2033)

    15. Global Auto Extended Warranty Market Forecast, By Application, 2019-2033 (USD Million)
    15.1. Global Auto Extended Warranty Market Size and Market Share By Application (2019-2026)
    15.2. Global Auto Extended Warranty Market Size and Market Share By Application (2027-2033)

    16. Global Auto Extended Warranty Market, By Region, 2019-2033 (USD Million)
    16.1. Global Auto Extended Warranty Market Size and Market Share By Region (2019-2026)
    16.2. Global Auto Extended Warranty Market Size and Market Share By Region (2027-2033)
    16.3. Asia-Pacific
    16.3.1. Australia
    16.3.2. China
    16.3.3. India
    16.3.4. Japan
    16.3.5. South Korea
    16.3.6. Rest of Asia-Pacific
    16.4. Europe
    16.4.1. France
    16.4.2. Germany
    16.4.3. Italy
    16.4.4. Spain
    16.4.5. United Kingdom
    16.4.6. Rest of Europe
    16.5. Middle East and Africa
    16.5.1. Kingdom of Saudi Arabia 
    16.5.2. United Arab Emirates
    16.5.3. Rest of Middle East & Africa
    16.6. North America
    16.6.1. Canada
    16.6.2. Mexico
    16.6.3. United States
    16.7. Latin America
    16.7.1. Argentina
    16.7.2. Brazil
    16.7.3. Rest of Latin America

    17. Company Profile
    17.1. AAA Warranty Services 
    17.1.1. Company details
    17.1.2. Financial outlook
    17.1.3. Product summary 
    17.1.4. Recent developments
    17.2. AmTrust Financial 
    17.2.1. Company details
    17.2.2. Financial outlook
    17.2.3. Product summary 
    17.2.4. Recent developments
    17.3. ASSURANT, Inc.
    17.3.1. Company details
    17.3.2. Financial outlook
    17.3.3. Product summary 
    17.3.4. Recent developments
    17.4. AXA
    17.4.1. Company details
    17.4.2. Financial outlook
    17.4.3. Product summary 
    17.4.4. Recent developments
    17.5. CARCHEX
    17.5.1. Company details
    17.5.2. Financial outlook
    17.5.3. Product summary 
    17.5.4. Recent developments
    17.6. CarShield LLC
    17.6.1. Company details
    17.6.2. Financial outlook
    17.6.3. Product summary 
    17.6.4. Recent developments
    17.7. Concord Auto Protect
    17.7.1. Company details
    17.7.2. Financial outlook
    17.7.3. Product summary 
    17.7.4. Recent developments
    17.8. Endurance Warranty Services, LLC
    17.8.1. Company details
    17.8.2. Financial outlook
    17.8.3. Product summary 
    17.8.4. Recent developments
    17.9. Olive 
    17.9.1. Company details
    17.9.2. Financial outlook
    17.9.3. Product summary 
    17.9.4. Recent developments
    17.10. TATA Motors Limited
    17.10.1. Company details
    17.10.2. Financial outlook
    17.10.3. Product summary 
    17.10.4. Recent developments
    17.11. Others
     
    18. List of Abbreviations

    19. Reference Links

    20. Conclusion

    21. Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    The factors which impact market growth involve awareness increase for the extended warranty and also an increase in the costly repair bills.
    Auto Extended Warranty Market is projected to reach USD 68.51 billion by 2033, growing at a CAGR of 6.13% during the forecast period.
    Auto Extended Warranty Market grew in market size from 2023. The Market is expected to reach USD 68.51 billion by 2033, at a CAGR of 6.13% during the forecast period.
    Auto Extended Warranty Market CAGR of 6.13% during the forecast period.
    You can get the sample pages by clicking the link -Click Here
    Auto Extended Warranty Market size is USD 68.51 billion from 2023 to 2033.
    Auto Extended Warranty Market Segment is Covered By Coverage, By Distribution Channel, By Vehicle Age, By Application
    The North America region is anticipated to have the highest market share in Auto Extended Warranty Market.
    The key players in the market include Companies Covered AAA Warranty Services, AmTrust Financial, ASSURANT INC., AXA, CARCHEX, Carshield LLC, Concord Auto Protect, Olive, TATA Motors Limited, Others
    Not able to find what you are looking for? Need customization in the existing report?
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