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Commercial Auto Insurance - Industry Market Research Report

  • May 2017
  • 34 pages
  • Ibisworld
Report ID: 2573513

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Additional coverage: Rising interest rates and corporate profit will boost industry revenue

Commercial Auto Insurance

Recovering from a low postrecessionary base, increasing prices, a strong economic environment, and an expanding fleet of vehicles have been instrumental to the Commercial Auto Insurance industry's increased revenue during the five-year period.

Furthermore, the strengthening job market and higher disposable income have helped stimulate economic growth and have revitalized the domestic consumer in the wake of a shaky economic climate. In conjunction, the domestic vehicle fleet for consumers and commercial users alike has steadily risen higher, giving way for industry operators to increase coverage exposure.

Over the five years to 2022, industry revenue is forecast to rise due to continued improvements in key macroeconomic variables, such as the number of motor vehicle registrations, aggregate corporate profit and the number of accidents.

Additionally, recent spikes in equity markets have benefited the industry's asset gains significantly.This industry provides underwriting coverage for commercial cars, trucks, vans and other vehicles. This coverage is typically excluded from Business Owners’ Policies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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