Trade Credit Insurance Market 2030 by Industry Vertical (Food & Beverages, IT & Telecom, Metals & Mining, Healthcare, Energy & Utilities, Automotive, and Others), Enterprise Size (Large Enterprises, Medium Enterprises, and Small Enterprises), Application (Domestic and International), Coverage (Whole Turnover Coverage and Single Buyer Coverage), Component (Products and Services) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : FMCG | Pages : 189 Pages | Published On : Aug 2023

The market size of the Global Trade Credit Insurance was assessed at $9.39 billion in the year 2022. It is anticipated to achieve a valuation of $18.14 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. Trade credit insurance serves as a form of insurance meticulously crafted to safeguard businesses from potential political and commercial hazards that could adversely impact their financial stability. This category of insurance falls under property and casualty insurance, commonly furnished by private insurance firms and government-backed export credit agencies to individuals or business entities.

Furthermore, trade credit insurance is predominantly employed to secure accounts receivable against losses incurred due to credit-related risks like extended default, insolvency, or bankruptcy. The mounting emphasis on shielding and managing risks associated with non-payment across diverse products and services, coupled with the expansion of trade across various regions prompting the need for credit insurance, stands out as a pivotal driver for the market's growth. Additionally, the market's growth is also fueled by the substantial advantages it offers, including sales support and accounts receivable support, provided through credit insurance.

Nonetheless, insufficient global awareness about credit insurance and the presence of conflicting trade regulations across diverse jurisdictions act as constraints on the expansion of the market. Additionally, developing economies present notable opportunities for providers of credit insurance solutions to broaden and enhance their offerings. This is especially relevant in emerging economies like Australia, China, India, Singapore, and South Korea. Furthermore, the anticipated increase in the number of small and medium-sized enterprises expanding their operations is expected to open promising avenues for growth in the trade credit insurance market in the foreseeable future.

In 2022, the segment comprising large enterprises held a dominant position in the trade credit insurance market, and this dominance is projected to persist throughout the forecast period. This is mainly because enterprises falling within this category engage in substantial trade volumes and handle significant amounts of data. Consequently, to safeguard their financial interests and mitigate political and commercial risks, this segment places a strong emphasis on the significance of trade credit insurance solutions and services within the market.

The report is centered around the analysis of growth potential, limitations, and trends within the trade credit insurance market. The study incorporates Porter's five forces analysis to comprehend the effects of various factors, including the suppliers' bargaining power, the competitive intensity among rivals, the threat of new entrants, the potential for substitute solutions, and the buyers' bargaining power on the dynamics of the trade credit insurance market.

Segment Overview

The trade credit insurance market undergoes segmentation through various criteria, including components, enterprise size, application, coverage, industry vertical, and geographic region. Concerning components, the market is divided into products and services. In terms of enterprise size, it is categorized into large enterprises, medium enterprises, and small enterprises. In relation to application, the market is further stratified into domestic and international contexts.

Regarding coverage, the market is segmented into whole turnover coverage and single buyer coverage. The industry vertical aspect classifies the market into distinct sectors such as food & beverages, IT & telecom, metals & mining, healthcare, energy & utilities, automotive, and other industries. Geographically, the trade credit insurance market is scrutinized across the regions of North America, Europe, Asia-Pacific, and LAMEA.

Competitive Analysis

The report examines the profiles of prominent participants within the trade credit insurance market, including entities like American International Group Inc., Aon plc, Atradius N.V., Coface, Credendo, EULER HERMES, Export Development Canada, QBE Insurance (Australia) Ltd., SINOSURE, and Zurich. These noteworthy players have implemented diverse tactics such as broadening their product portfolios, engaging in mergers and acquisitions, establishing agreements, expanding geographically, and fostering collaborations. These strategies have been employed to enhance their market reach and reinforce their position within the industry.

COVID-19 Impact Analysis

The trade credit insurance market has been profoundly influenced by the COVID-19 pandemic. This is primarily due to heightened global trade uncertainty and a rise in protectionist measures, which have contributed to an increased demand for trade credit insurance.

Furthermore, the imposition of lockdown measures in various regions to contain the spread of the virus has led to financial ramifications for businesses. As a result, the prominence of trade credit insurance products has surged in response to the ongoing pandemic situation. Consequently, this phenomenon has emerged as a key catalyst driving growth within the trade credit insurance sector amid the global health crisis.

Market Landscape and Trends

The trade credit insurance market has undergone substantial growth and transformative shifts in recent times. Among these developments, a noteworthy trend is the escalating demand for trade credit insurance across diverse industries. As global markets become more interconnected and international trade flourishes, enterprises are increasingly acknowledging the significance of shielding their accounts receivable. In this context, trade credit insurance emerges as a vital tool, providing financial security by mitigating the risks linked to customer insolvency, prolonged defaults, or geopolitical events that could impact payment capabilities.

Another trend that merits attention is the extension of trade credit insurance coverage to emerging markets. As businesses venture into new territories and forge trade partnerships with enterprises in developing economies, the necessity for risk mitigation becomes ever more crucial. As a result, trade credit insurers are broadening their offerings to encompass regions with substantial growth potential, such as the Asia-Pacific, Africa, and Latin America. These insurers are tailoring their solutions to address the distinctive risks associated with these markets, thereby catering to the unique needs of businesses operating there.

Moreover, the trade credit insurance landscape is being significantly shaped by technological progress. Innovations in insurtech, including automated underwriting processes, data analytics, and digital platforms, are simplifying operations and elevating the efficiency of tasks like policy issuance and claims handling. These technological strides empower insurers to offer swifter and more precise risk evaluations, rendering trade credit insurance more accessible and adaptable to businesses spanning various scales.

Additionally, the trade credit insurance market is witnessing noteworthy trends propelled by elements such as globalization, the emergence of new markets, technological advancements, and the repercussions of the COVID-19 pandemic. As enterprises continue to navigate through an ever-evolving trade environment, trade credit insurance stands ready to assume a pivotal role in overseeing credit risks and upholding the stability of international trade transactions. Hence, these encompass a few of the principal market trends within the trade credit insurance domain.

Government Initiatives

The approach of governments to the trade credit insurance market varies from country to country, showcasing a range of strategies designed to facilitate and endorse international trade. In numerous nations, the pivotal role trade credit insurance plays in mitigating risks and instilling confidence among enterprises engaged in cross-border transactions is acknowledged by the government. Consequently, diverse measures have been instituted to bolster the growth and resilience of the trade credit insurance sector.

These governmental efforts frequently encompass the establishment of public-private collaborations to offer trade credit insurance coverage, the provision of financial aid or subsidies aimed at reducing premiums, the creation of specialized insurance funds dedicated to supporting exporters, and the enhancement of regulatory frameworks to ensure equitable and transparent practices. Additionally, governments often engage in partnerships with industry associations and insurance providers to foster innovative solutions, such as digital platforms for streamlined underwriting procedures and the sharing of information. Ultimately, all these initiatives undertaken by governments share the common goal of nurturing trade, shielding businesses from defaults and insolvencies, and ultimately driving economic expansion in both domestic and international realms.

Top Impacting Factors

Rapid Expansion of the Market in New Regions

As global trade of goods and services expands, the momentum behind extending trade to new regions has picked up within the market. Additionally, this heightened trade activity, encompassing facets like issuing letters of credit (LCs), receivables and invoice financing, among others, has led to an increased demand for credit insurance. This demand is anticipated to sustain its prominence throughout the forecast period for trade credit insurance.

Furthermore, trade credit serves as a mechanism employed by manufacturers, importers, exporters, buyers, and sellers to facilitate financial operations during trade activities. Consequently, the upsurge in the need for goods and services between countries and the growing expansion of trade across diverse regions have contributed to an augmentation in demand for trade credit insurance within the market.

Varied and Conflicting Trade Regulations Across Different Jurisdictions

Diverse legal frameworks establish varying standards and regulations across different jurisdictions, although there is a growing tendency among financial centers to adopt a more unified approach to trade regulation. This presents a critical challenge for credit insurance companies in devising solutions, as it can lead to conflicts between different regulatory requirements, impeding the growth of the credit insurance market.

For instance, in the United States, Export Credit Insurance (ECI) safeguards exporters of goods and services from the risk of non-payment by foreign buyers. Consequently, the necessity to align with the regulatory norms of respective countries prior to offering trade credit insurance emerges as a significant impediment to the expansion of the trade credit insurance market.

Key Benefits For Stakeholders

  • The research furnishes a comprehensive examination of the global trade credit insurance market's market share, coupled with a portrayal of current and forthcoming trends to highlight promising investment avenues.
  • The report presents insights regarding pivotal factors driving, limiting, and offering opportunities, along with an analysis of their impact on the overall size of the global trade credit insurance market.
  • Porter’s five forces analysis underscores the influence of both buyers and suppliers participating in the market.
  • A thorough assessment of the industry's key segments facilitates an enhanced comprehension of prevailing global trade credit insurance market trends.
  • The report includes a quantitative evaluation of the global credit insurance market's dimensions spanning from 2023 to 2030, aimed at ascertaining its inherent market potential.

Trade Credit Insurance Market Report Highlights

By Component


By Enterprises Size


By Coverages

  • Whole Turnover Coverage
  • Single Buyer Coverage

By Industry Vertical

  • Food and Beverages
  • IT and Telecom
  • Metals and Mining
  • Healthcare
  • Energy and Utilities
  • Automotive
  • Others

By Application



Table and Figures


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