The energy insurance market is set to experience significant growth in the upcoming years, as indicated by a recent report. According to HTF Market Intelligence, the global Energy Insurance market’s value is expected to reach a revenue of USD Million by 2030, with a CAGR of 4.24% from 2023 to 2030.
The latest study by HTF MI provides insights into the market size, trends, and forecasts up to 2030. This study serves as a valuable resource for industry professionals, offering research data and analysis to help understand market trends, growth drivers, and upcoming challenges.
Key players in the Energy Insurance market include UnitedHealth Group Incorporated, AXA S.A., China Life Insurance (Group) Company, Ping an Insurance (Group) Company of China Ltd., Allianz SE, Anthem, Inc., Kaiser Foundation Group of Health Plans, Assicurazioni Generali S.p.A., State Farm Group, and Berkshire Hathaway Inc.
Energy insurance is a specialized form of coverage aimed at safeguarding energy sector companies from financial losses due to industry-specific risks such as physical damage to infrastructure, business interruptions, liability claims, and price fluctuations. With the rising focus on renewable energy sources globally, the energy insurance sector is witnessing a shift towards providing coverage for projects involving solar, wind, and hydroelectric installations.
Insurers have the opportunity to innovate and create new insurance products tailored to the changing landscape of the energy industry. The market segments for Energy Insurance include applications such as Carbon-Based, Nuclear, Renewables, Oil and Gas, and types like Property Insurance and Casualty Insurance.
