Trade Credit Insurance Market Expected to Reach $41.1 Billion by 2033

Trade Credit Insurance Market Expected to Reach $41.1 Billion by 2033

NEW CASTLE, DE, UNITED STATES, July 31, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Trade Credit Insurance Market," The trade credit insurance market size was valued at $14.9 billion in 2023, and is estimated to reach $41.1 billion by 2033, growing at a CAGR of 10.7% from 2024 to 2033. Trade credit insurance helps in paying off an outstanding debt across several events of the policy holder’s death, disability, termination of employment, and others. By providing protection against customer insolvency, credit insurance helps in protecting the companies against customer defaults. Credit life insurance, credit disability insurance, credit involuntary unemployment insurance, credit property insurance, and trade credit insurance are the major credit insurances available in the market. Factors, such as rapid expansion of new geographic markets, increasing commercial threat to the trade, and numerous benefits provided by core banking solutions, propelling the trade credit insurance market growth.

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In addition, surge in small & medium enterprises globally and untapped potential of emerging economies are expected to provide lucrative opportunities for the trade credit insurance solution providers in the coming years. On the basis of coverages, the whole turnover coverage dominated the market in 2023 and is projected to maintain its dominance during the forecast period. This is attributed to the fact that the whole turnover trade credit insurance policy covers multiple risks across several industry verticals. Moreover, it provides protection up to an agreed percentage of any losses incurred against late payment or the failure to pay by its buyers. This is a major growth factor for the whole turnover coverage in the trade credit insurance industry.

By region, the market was dominated by Europe in 2023 and is expected to maintain trade credit insurance market trends during the forecast period. Attributed to increased awareness of trade credit insurance among small & medium enterprises and presence of major lending companies that offer trade credit insurance services are the major factors that influence the growth of the market in this region. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period owing to the rising trade activities, particularly in emerging economies such as China and India, driving the demand for trade credit insurance as businesses seek to mitigate risks associated with non-payment and defaults. In addition, supportive government initiatives aimed at promoting exports and enhancing the regulatory environment further boost region growth.

For instance, In September 2021, the Insurance Regulatory and Development Authority of India (IRDAI) announced updated guidelines for trade credit insurance, set to take effect on November 1, 2021. These revised guidelines aim to foster the sustainable growth of the trade credit insurance sector, which plays a imporatnt role in enhancing economic stability. By addressing trade losses stemming from credit risks, the new regulations designed to bolster the market's resilience against potential financial shocks. This initiative is expected to encourage businesses to engage more confidently in trade, knowing they a safety net against payment defaults. In addition, the guidelines anticipated to stimulate competition among insurers, leading to more innovative products and better services. Thereby the IRDAI guidelines is expected to drive the trade credit insurance market growth.

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Key findings of the study

By component, the product segment held the largest trade credit insurance market share in 2023.
By enterprise size, the large enterprise segment held the largest share in the trade credit insurance market for 2023.
By coverages, the whole turnover coverage segment held the largest share in the market for 2023.
By industry vertical, the others segment held the largest share in the trade credit insurance market for 2023.
By application, the domestic segment held the largest share in the trade credit insurance market for 2023.

Region-wise, Europe held largest market share in 2023. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.
The key players profiled in the trade credit insurance market analysis are American International Group Inc., QBE Insurance (Australia) Ltd. , Atradius N.V., Aon Plc, Coface, Marsh LLC., Chubb Group Holdings Inc., Zurich Insurance Company Ltd, Authorized Policy Insurance Brokers Ltd., Credit Oman., Howden Group Holdings Ltd., Credendo, Allianz Saudi Fransi, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), HDFC ERGO General Insurance Company Limited and SINOSUR. These players have adopted various strategies to increase their market penetration and strengthen their position in the trade credit insurance industry.

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