How big is the India Motor Insurance Market?

The India Motor Insurance Market size is expected to reach USD 11.96 billion in 2024 and grow at a CAGR of 10.25% to reach USD 19.48 billion by 2029. Read More

What is the current India Motor Insurance Market size?

In 2024, the India Motor Insurance Market size is expected to reach USD 11.96 billion. Read More

What years does this India Motor Insurance Market cover, and what was the market size in 2023?

In 2023, the India Motor Insurance Market size was estimated at USD 10.73 billion. The report covers the India Motor Insurance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Motor Insurance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

India Motor Insurance Market - Share, Size & Companies

India Motor Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The India Motor Insurance Market is Segmented by Motor Insurance Type (own Damage, Third Party), by Application (Commercial Motor Insurance (light Motor Vehicle, Heavy Motor Vehicle, Other Commercial Motors), Private Motor Insurance), by Distribution Channel (individual Agents, Brokers, Banks, Online, Others), by State (Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, Gujarat, Other States). The Report Offers Market Size and Forecasts for the Indian Motor Insurance Market in Revenue Value (USD) for all the Above Segments.

India Motor Insurance Industry Overview

The Indian Motor Insurance Market is highly competitive with major global players. The market has observed a competitive environment with multiple players holding a significant share. Some players include The New India Assurance Co. Ltd., HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, and ICICI Lombard General Insurance Company Limited, among others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.