Commercial Property Insurance Market Report 2025 (Global Edition)

Global Commercial Property Insurance Market Report 2025 Market Size Split by Coverage (Extract, Dual Extract), by Distribution Channels (Agents and Brokers, Direct Response, Others), by Enterprise Siz...

Commercial Property Insurance Market Report Description

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Commercial Property Insurance Market Insights Video

Competitive Landscape of the Commercial Property Insurance Market

The competitive landscape of the commercial property insurance market is characterized by a range of players competing to gain market share through strategic partnerships and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Commercial Property Insurance companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

June 2023: Chubb, the publicly traded property and casualty insurance company, launched an aviation hub in Singapore. This strategic move serves to bolster the company's general aviation and aerospace business, demonstrating its commitment to growth and innovation in the sector. (Source: https://news.uk.chubb.com/2023-06-05-Chubb-Establishes-Aviation-Hub-in-Singapore) April 2024: Janover Inc. announced that it has officially launched Janover Insurance Group Inc., its new insurtech subsidiary for commercial property insurance and more. The Company also announces it has been granted insurance licenses in Texas and Florida, with multiple applications in progress in several other states. (Source: https://www.globenewswire.com/en/news-release/2024/04/30/2872372/0/en/Janover-Launches-New-Insurtech-Subsidiary-Janover-Insurance-Group-Expected-to-Revolutionize-the-Commercial-Insurance-Landscape.html)

Top Companies Market Share in Commercial Property Insurance Industry: (In no particular order of Rank)

• Aegon Life Insurance Company Limited
• Allianz SE
• Aviva plc
• Axa SA.
• Insureon (HUB International Limited)
• Nationwide Mutual Insurance Company
• Prudential Financial Inc.
• State Farm Mutual Automobile Insurance Company
• The Hartford Financial Services Group Inc.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Commercial Property Insurance Market

Which Region Dominates the Commercial Property Insurance Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the region's increasing business risks from natural disasters, cyber threats, and property damage. Rising property values and regulatory requirements also fuel demand. Businesses seek comprehensive coverage to protect against financial losses, prompting growth in the insurance sector as firms prioritize risk management and asset protection.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the commercial property insurance market due to the region's increased urbanization, industrial growth, and the rising value of commercial assets. Businesses are investing in comprehensive coverage to protect against property damage, theft, and natural disasters.

The current report Scope analyzes Commercial Property Insurance Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Commercial Property Insurance Market Analysis

According to Cognitive Market Research, the global commercial property insurance market size was estimated at USD 281546.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 112618.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the commercial property insurance market with a market size of USD 88855.98 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. The nation's increasing popularity of adaptogens.
• The Canada commercial property insurance market had a market share of USD 13514.22 million in 2024 and is projected to grow at a CAGR of 8.7% during the forecast period. Canada's increased need for commercial property insurance.
• The Mexico commercial property insurance market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 10248.28 million in 2024.

Europe Commercial Property Insurance Market Analysis

According to Cognitive Market Research, the global commercial property insurance market size was estimated at USD 281546.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 84463.86 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

• The United Kingdom commercial property insurance market had a market share of USD 14189.93 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. In the UK, commercial property insurance sales witness an upswing due to the nation's increased risk management needs.
• The France commercial property insurance market is projected to witness growth at a CAGR of 7.4% during the forecast period, with a market size of USD 7770.68 million in 2024.
• According to Cognitive Market Research, the German commercial property insurance market size was valued at USD 16723.84 million in 2024 and is projected to grow at a CAGR of 8.4% during the forecast period. In Germany, commercial property insurance surged due to the presence of major market players.
• The Italy commercial property insurance market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 7263.89 million in 2024.
• The Russia commercial property insurance market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 13091.90 million in 2024.
• The Spain commercial property insurance market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 6926.04 million in 2024
• The Luxembourg commercial property insurance market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 2618.38 million in 2024.
• The Portugal commercial property insurance market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 1773.74 million in 2024.
• The Greece commercial property insurance market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 1013.57 million in 2024.
• Rest of Europe's commercial property insurance market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 13091.90 million in 2024.

Asia Pacific Commercial Property Insurance Market Analysis

According to Cognitive Market Research, the global commercial property insurance market size was estimated at USD 281546.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 64755.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.

• According to Cognitive Market Research, the China commercial property insurance market size was valued at USD 29140.03 million in 2024 and is projected to grow at a CAGR of 11.2% during the forecast period. Commercial property insurance sales surged in China due to increasing urbanization.
• The Japan commercial property insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 8936.28 million in 2024.
• The India commercial property insurance market had a market share of USD 7770.68 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. India's supportive initiatives taken by the government.
• The South Korean commercial property insurance market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 6475.56 million in 2024.
• The Australian commercial property insurance market is projected to witness growth at a CAGR of 11.4% during the forecast period, with a market size of USD 3367.29 million in 2024.
• The South East Asia commercial property insurance market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 4468.14 million in 2024.
• The Rest of Asia Pacific commercial property insurance market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 4597.65 million in 2024.

South America Commercial Property Insurance Market Analysis

According to Cognitive Market Research, the global commercial property insurance market size was estimated at USD 281546.2 Million, out of which the Latin America market has more than 5% share of the global revenue with a market size of USD 14077.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil commercial property insurance market size was valued at USD 6025.09 million in 2024 and is projected to grow at a CAGR of 9.7% during the forecast period. Commercial property insurance flourished in Brazil due to favorable regulatory approvals.
• Argentina's commercial property insurance market had a market share of USD 2364.99 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Argentina's technological advancements augment the demand.
• Colombia commercial property insurance market is projected to witness growth at a CAGR of 8.9% during the forecast period, with a market size of USD 1252.88 million in 2024.
• Peru Chaga commercial property insurance is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 1154.34 million in 2024.
• Chile commercial property insurance market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 1013.57 million in 2024.
• The Rest of Latin America's commercial property insurance market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 2266.45 million in 2024.

Middle East Commercial Property Insurance Market Analysis

According to Cognitive Market Research, the global commercial property insurance market size was estimated at USD 281546.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 5630.92 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2031.

• The GCC Countries commercial property insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 2410.04 million in 2024. Commercial property insurance flourished due to the presence of major market players.
• The Egypt commercial property insurance market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 591.25 million in 2024.
• The South Africa commercial property insurance market is projected to witness growth at a CAGR of 10..4% during the forecast period, with a market size of USD 889.69 million in 2024. Commercial property insurance sales flourished in South Africa due to technological advancements, and regulatory support.
• The Turkey commercial property insurance market is projected to witness growth at a CAGR of 8.9% during the forecast period, with a market size of USD 484.26 million in 2024.
• The Nigeria commercial property insurance market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 591.25 million in 2024.
• The Rest of MEA commercial property insurance market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 664.45 million in 2024.

Commercial Property Insurance Market Analysis

Commercial Property Insurance Market Coverage Segment Analysis

According to Cognitive Market Research, the dominant category is named perils due to the increasing demand for protection against specific risks like fire, theft, and vandalism. Businesses seek comprehensive coverage to mitigate financial losses from unforeseen events, boosting market growth.

The fastest-growing category in the commercial property insurance market is open perils due to increasing awareness of risks and the need for business continuity. Open perils coverage, which protects against all risks except those specifically excluded, is popular for its comprehensive protection. Businesses seek this coverage to safeguard assets from various potential threats and losses.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Commercial Property Insurance Industry. Request a Free Sample PDF!

Commercial Property Insurance Market Distribution Channels Segment Analysis

According to Cognitive Market Research, the dominant category is direct response due to increased awareness of risk management and regulatory requirements. Direct response strategies, such as targeted marketing and personalized outreach, enhance customer engagement by addressing specific needs and providing tailored solutions, leading to growth in policy uptake and market expansion.

The fastest-growing category in the commercial property insurance market is agents & brokers over the projected period due to increasing property values, growing risk awareness, and the need for comprehensive protection against various risks. Agents and brokers play a crucial role in navigating complex policies, tailoring coverage to specific business needs, and managing claims to ensure adequate protection.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Commercial Property Insurance Enterprise Size Segment Analysis

Commercial Property Insurance Market Enterprise Size Segment Analysis

According to Cognitive Market Research, the dominant category is the large enterprises due to increasing risks of property damage from natural disasters, cyber threats, and operational disruptions. As businesses expand and asset values rise, comprehensive insurance solutions become essential to mitigate potential financial losses and ensure business continuity.

The fastest-growing category in the commercial property insurance market is small & medium-sized enterprises due to the increasing need for risk management and protection against property damage and business interruptions. SMEs seek coverage to safeguard assets, comply with regulatory requirements, and ensure business continuity amidst growing risks and uncertainties.

• Large Enterprises
• Small and Medium-sized Enterprises

Commercial Property Insurance Industry Vertical Segment Analysis

Commercial Property Insurance Market Enterprise Size Segment Analysis

According to Cognitive Market Research, the dominant category is manufacturing due to increasing manufacturing sector investments and expanding infrastructure, which heightens the demand for comprehensive insurance solutions to safeguard commercial properties.

The fastest-growing category in the commercial property insurance market is healthcare due to increasing healthcare facility expansion, rising property values, and heightened risks of natural disasters and cyber threats. Enhanced protection needs for medical equipment and liability coverage further propel demand, ensuring comprehensive risk management and financial security for healthcare providers.

• Manufacturing
• Construction
• IT & Telecom
• Healthcare
• Energy & Utilities
• Transportation & Logistics
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion