Summary

The trade credit insurance market size is expected to reach US$ 27.56 billion by 2031 from 14.19 billion in 2023, at an estimated CAGR of 8.7% from 2023 to 2031.

By Geography the global trade credit insurance market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. In 2023, the Asia Pacific regions is growing with a significant growth rate. The Asia Pacific trade credit insurance market is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market is expected to grow at a significant rate from 2023 to 2031. The rise in the number of businesses adopting strategic approaches for credit management and slow trade rates are a few factors boosting the usage of trade credit insurance among businesses, supporting the trade credit insurance market growth in APAC. For instance, according to an International Monetary Fund report published on April 2024, APAC has been observing slow trade since 2023 due to continuity in the inflation pressures among businesses. The global decrease in commodity and goods prices, monetary tightening, supply-chain disruptions, and high interest rates are a few other factors increasing the demand for trade credit insurance among businesses to protect themselves against financial risks.

The growing cases of business insolvencies in APAC are expected to create significant opportunities for the trade credit insurance market growth during the forecast period. For instance, according to Atradius N.V. report published on September 2023, the insolvency rate in APAC will continue to increase in 2024 due to the rising cases of bankruptcy faced by firms, less support from the government, and the presence of a financially challenging environment for companies. According to the same source, increasing incidents of business failures in countries, including Hong Kong (68%) and South Korea (45%), and growing cases of business insolvencies in Singapore (49%), India (50%), and Australia (45%) are expected to create new opportunities for the trade credit insurance market growth in the coming years.

The Trade Credit Insurance market analysis has been carried out by considering the following segments: enterprise size, application, and end user.

Based on enterprise size, the Trade Credit Insurance market share is segmented into SMEs and large enterprises. Large enterprises have a huge customer base. They provide products and services to the customers at credit, which puts them constantly at financial risk due to unpaid trade-related debt. Trade credit insurance protects customers from the losses incurred due to their insolvency or inability to pay the money back to the creditor. Trade credit insurance provides businesses with assurance and confidence to extend their credit limit, which fosters smoother operations and supports business growth without leading to any financial risks.

Moreover, factor such as surge in business insolvencies propel the trade credit insurance market growth. Also, development of cloud-based trade credit insurance solutions is expected to bring new trade credit insurance market trends in the coming years.

Based on end-user, the market is segmented into energy, automotive, aerospace, chemicals, metals, agriculture, food and beverages, financial services, technology and telecommunications, transportation, and others. In terms of revenue the energy segment dominates the Trade Credit Insurance market share. The energy sector comprises of trades in oil and gas, and energy projects. Tight margins are the norm in the fuel, oil, and gas industry, increasing the danger of bad debt. In the energy sector, the projects can be significant and involve substantial financial commitments. For example, renewable energy projects, such as solar and wind farms and anaerobic digestion plants, majorly involve complex supply chains with multiple suppliers. These projects require high initial costs associated with equipment such as wind turbines, solar panels, and energy storage systems. The adoption of trade credit insurance helps to mitigate the risks linked with supplier disruptions or defaults in the supply chain to ensure smooth project operations. It enables business expansion by facilitating energy companies to safely offer more competitive credit to new and existing customers.

Allianz Trade, COFACE SA, American International Group Inc, Chubb Ltd, QBE Insurance Group Ltd, Aon Plc, Credendo, Atradius NV, Zurich Insurance Group AG, and Great American Insurance Company are among the key players profiled in the trade credit insurance market report.

The Trade Credit Insurance market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Trade Credit Insurance market growth. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Trade Credit Insurance market.

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Table of Contents

TABLE OF CONTENTS

1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Trade Credit Insurance Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Trade Credit Insurance Market – Key Market Dynamics
5.1 Trade Credit Insurance Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Surge in Business Insolvencies
5.2.2 Rise in Inflation and High Interest Rates
5.2.3 Government Initiatives Supporting MSMEs and SMEs to Adopt Trade Credit Insurance
5.3 Market Restraints
5.3.1 Lack of Awareness Among Emerging Economies
5.4 Market Opportunities
5.4.1 Supply Chain Complexities
5.4.2 Significant Initiatives to Promote AI use in Trade Credit Insurance Solutions
5.5 Future Trends
5.5.1 Development of Cloud-Based Trade Credit Insurance Solutions
5.6 Impact of Drivers and Restraints:
6. Trade Credit Insurance Market – Global Market Analysis
6.1 Trade Credit Insurance Market Revenue (US$ Million), 2021–2031
6.2 Trade Credit Insurance Market Forecast Analysis
7. Trade Credit Insurance Market Analysis – by Enterprise Size
7.1 Large Enterprises
7.1.1 Overview
7.1.2 Large Enterprises: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
7.2 SMEs
7.2.1 Overview
7.2.2 SMEs: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8. Trade Credit Insurance Market Analysis – by Application
8.1 International
8.1.1 Overview
8.1.2 International: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Domestic
8.2.1 Overview
8.2.2 Domestic: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9. Trade Credit Insurance Market Analysis – by End User
9.1 Energy
9.1.1 Overview
9.1.2 Energy: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Automotive
9.2.1 Overview
9.2.2 Automotive: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Aerospace
9.3.1 Overview
9.3.2 Aerospace: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Chemicals
9.4.1 Overview
9.4.2 Chemicals: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Metals
9.5.1 Overview
9.5.2 Metals: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.6 Agriculture
9.6.1 Overview
9.6.2 Agriculture: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.7 Food and Beverages
9.7.1 Overview
9.7.2 Food and Beverages: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.8 Financial Services
9.8.1 Overview
9.8.2 Financial Services: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.9 Technology and Telecommunication
9.9.1 Overview
9.9.2 Technology and Telecommunication: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.10 Transportation
9.10.1 Overview
9.10.2 Transportation: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
9.11 Others
9.11.1 Overview
9.11.2 Others: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10. Trade Credit Insurance Market – Geographical Analysis
10.1 Overview
10.2 Europe
10.2.1 Europe Trade Credit Insurance Market Overview
10.2.2 Europe: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 Europe: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.3.1 Europe: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Enterprise Size
10.2.4 Europe: Trade Credit Insurance Market Breakdown, by Application
10.2.4.1 Europe: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Application
10.2.5 Europe: Trade Credit Insurance Market Breakdown, by End User
10.2.5.1 Europe: Trade Credit Insurance Market – Revenue and Forecast Analysis – by End User
10.2.6 Europe: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.2.6.1 Europe: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.2.6.2 Germany: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.2.1 Germany: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.2.2 Germany: Trade Credit Insurance Market Breakdown, by Application
10.2.6.2.3 Germany: Trade Credit Insurance Market Breakdown, by End User
10.2.6.3 France: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 France: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.3.2 France: Trade Credit Insurance Market Breakdown, by Application
10.2.6.3.3 France: Trade Credit Insurance Market Breakdown, by End User
10.2.6.4 United Kingdom: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 United Kingdom: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.4.2 United Kingdom: Trade Credit Insurance Market Breakdown, by Application
10.2.6.4.3 United Kingdom: Trade Credit Insurance Market Breakdown, by End User
10.2.6.5 Italy: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.5.1 Italy: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.5.2 Italy: Trade Credit Insurance Market Breakdown, by Application
10.2.6.5.3 Italy: Trade Credit Insurance Market Breakdown, by End User
10.2.6.6 Russia: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.6.1 Russia: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.6.2 Russia: Trade Credit Insurance Market Breakdown, by Application
10.2.6.6.3 Russia: Trade Credit Insurance Market Breakdown, by End User
10.2.6.7 Rest of Europe: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.7.1 Rest of Europe: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.2.6.7.2 Rest of Europe: Trade Credit Insurance Market Breakdown, by Application
10.2.6.7.3 Rest of Europe: Trade Credit Insurance Market Breakdown, by End User
10.3 North America
10.3.1 North America Trade Credit Insurance Market Overview
10.3.2 North America: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 North America: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.3.3.1 North America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Enterprise Size
10.3.4 North America: Trade Credit Insurance Market Breakdown, by Application
10.3.4.1 North America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Application
10.3.5 North America: Trade Credit Insurance Market Breakdown, by End User
10.3.5.1 North America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by End User
10.3.6 North America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.3.6.1 North America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.3.6.2 United States: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.2.1 United States: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.3.6.2.2 United States: Trade Credit Insurance Market Breakdown, by Application
10.3.6.2.3 United States: Trade Credit Insurance Market Breakdown, by End User
10.3.6.3 Canada: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 Canada: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.3.6.3.2 Canada: Trade Credit Insurance Market Breakdown, by Application
10.3.6.3.3 Canada: Trade Credit Insurance Market Breakdown, by End User
10.3.6.4 Mexico: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 Mexico: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.3.6.4.2 Mexico: Trade Credit Insurance Market Breakdown, by Application
10.3.6.4.3 Mexico: Trade Credit Insurance Market Breakdown, by End User
10.4 Asia Pacific
10.4.1 Asia Pacific Trade Credit Insurance Market Overview
10.4.2 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.3.1 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Enterprise Size
10.4.4 Asia Pacific: Trade Credit Insurance Market Breakdown, by Application
10.4.4.1 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Application
10.4.5 Asia Pacific: Trade Credit Insurance Market Breakdown, by End User
10.4.5.1 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast Analysis – by End User
10.4.6 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.4.6.1 Asia Pacific: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.4.6.2 China: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.2.1 China: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.2.2 China: Trade Credit Insurance Market Breakdown, by Application
10.4.6.2.3 China: Trade Credit Insurance Market Breakdown, by End User
10.4.6.3 Japan: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 Japan: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.3.2 Japan: Trade Credit Insurance Market Breakdown, by Application
10.4.6.3.3 Japan: Trade Credit Insurance Market Breakdown, by End User
10.4.6.4 South Korea: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 South Korea: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.4.2 South Korea: Trade Credit Insurance Market Breakdown, by Application
10.4.6.4.3 South Korea: Trade Credit Insurance Market Breakdown, by End User
10.4.6.5 India: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 India: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.5.2 India: Trade Credit Insurance Market Breakdown, by Application
10.4.6.5.3 India: Trade Credit Insurance Market Breakdown, by End User
10.4.6.6 Australia: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 Australia: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.6.2 Australia: Trade Credit Insurance Market Breakdown, by Application
10.4.6.6.3 Australia: Trade Credit Insurance Market Breakdown, by End User
10.4.6.7 Rest of APAC: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 Rest of APAC: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.4.6.7.2 Rest of APAC: Trade Credit Insurance Market Breakdown, by Application
10.4.6.7.3 Rest of APAC: Trade Credit Insurance Market Breakdown, by End User
10.5 Middle East and Africa
10.5.1 Middle East and Africa Trade Credit Insurance Market Overview
10.5.2 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.5.3.1 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Enterprise Size
10.5.4 Middle East and Africa: Trade Credit Insurance Market Breakdown, by Application
10.5.4.1 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Application
10.5.5 Middle East and Africa: Trade Credit Insurance Market Breakdown, by End User
10.5.5.1 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast Analysis – by End User
10.5.6 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.5.6.1 Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.5.6.2 Saudi Arabia: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.2.1 Saudi Arabia: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.5.6.2.2 Saudi Arabia: Trade Credit Insurance Market Breakdown, by Application
10.5.6.2.3 Saudi Arabia: Trade Credit Insurance Market Breakdown, by End User
10.5.6.3 UAE: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 UAE: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.5.6.3.2 UAE: Trade Credit Insurance Market Breakdown, by Application
10.5.6.3.3 UAE: Trade Credit Insurance Market Breakdown, by End User
10.5.6.4 South Africa: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 South Africa: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.5.6.4.2 South Africa: Trade Credit Insurance Market Breakdown, by Application
10.5.6.4.3 South Africa: Trade Credit Insurance Market Breakdown, by End User
10.5.6.5 Rest of Middle East and Africa: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 Rest of Middle East and Africa: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.5.6.5.2 Rest of Middle East and Africa: Trade Credit Insurance Market Breakdown, by Application
10.5.6.5.3 Rest of Middle East and Africa: Trade Credit Insurance Market Breakdown, by End User
10.6 South and Central America
10.6.1 South and Central America Trade Credit Insurance Market Overview
10.6.2 South and Central America: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.6.3.1 South and Central America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Enterprise Size
10.6.4 South and Central America: Trade Credit Insurance Market Breakdown, by Application
10.6.4.1 South and Central America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Application
10.6.5 South and Central America: Trade Credit Insurance Market Breakdown, by End User
10.6.5.1 South and Central America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by End User
10.6.6 South and Central America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.6.6.1 South and Central America: Trade Credit Insurance Market – Revenue and Forecast Analysis – by Country
10.6.6.2 Brazil: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.2.1 Brazil: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.6.6.2.2 Brazil: Trade Credit Insurance Market Breakdown, by Application
10.6.6.2.3 Brazil: Trade Credit Insurance Market Breakdown, by End User
10.6.6.3 Argentina: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Argentina: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.6.6.3.2 Argentina: Trade Credit Insurance Market Breakdown, by Application
10.6.6.3.3 Argentina: Trade Credit Insurance Market Breakdown, by End User
10.6.6.4 Rest of South and Central America: Trade Credit Insurance Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Rest of South and Central America: Trade Credit Insurance Market Breakdown, by Enterprise Size
10.6.6.4.2 Rest of South and Central America: Trade Credit Insurance Market Breakdown, by Application
10.6.6.4.3 Rest of South and Central America: Trade Credit Insurance Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Allianz Trade
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 COFACE SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 American International Group Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Chubb Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 QBE Insurance Group Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Aon Plc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Credendo
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Atradius NV
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Zurich Insurance Group AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Great American Insurance Company
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index