The Boiler Insurance Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Boiler Insurance Market?
The Boiler Insurance market has experienced swift expansion in the past few years. The market size is expected to increase from $12.18 billion in 2024 to $14.06 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Boiler Insurance Industry?
The forecast for the Boiler Insurance market in 2029 projects a market size of $24.4 billion with a compound annual growth rate (CAGR) of 14.8%.
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What are the Key Growth Drivers Fueling the Boiler Insurance Market?
The key drivers in the boiler insurance market are:
• Growth and utilization of renewable energy sources
• Improvement in boiler efficiency due to technological advancements
• Global energy transition impacting the need for boiler insurance
• Customization of policies catering to specific customer needs and cybersecurity concerns
Global Market Segmentation: Identifying Major Boiler Insurance Industry Segments
The boiler insurance market covered in this report is segmented –
1) By Type: Boiler Repairs, Boiler Servicing, Plumbing And Drainage Repairs, Other Types
2) By Boiler Type: Fire-Tube, Water-Tube
3) By Plans: Gold, Platinum, Other Plans
4) By End User: Chemicals, Refineries, Metal And Mining, Food And Beverages, Other End Users
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What are the Emerging Trends Shaping the Future of the Boiler Insurance Market?
The key trends in the boiler insurance market are:
• The integration of IoT and sensors into boiler systems is becoming a notable trend.
• Digitization of claims processing is emerging as a key advancement in the market.
• There is an increasing trend of enhancing data analytics for underwriting purposes.
• Market expansion into developing regions presents a significant trend.
Who Are the Top Competitors & Leading Players in the Boiler Insurance Market?
Major companies in the boiler insurance market are:
• Aviva plc
• Axa S.A.
• Centrica plc
• CORGI HomePlan Ltd.
• Domestic & General Group Limited
• Future Generali India Insurance Co. Ltd.
• HDFC ERGO General Insurance Company Limited
• HomeServe Membership Ltd.
• Liberty Mutual Group Inc.
• Tata AIG General Insurance Company Limited
• The Travelers Indemnity Company
• Zurich Insurance Group Ltd.
• British Gas Services Ltd.
• Allianz SE
• Chubb Limited
• American International Group Inc.
• Münchener Rückversicherungs-Gesellschaft
• Swinton Insurance Ltd.
• Admiral Insurance Co.
• Churchill Insurance Company Limited
• Legal & General Group plc
• Hartford Steam Boiler Inspection and Insurance Company
• Factory Mutual Insurance Company
• Allianz Global Corporate & Specialty SE
• Berkshire Hathaway Specialty Insurance Co.
• AXA XL
• Travelers Companies Inc.
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the boiler insurance market in 2024
