DUBLIN, September 28, 2021--(BUSINESS WIRE)--The "Auto Extended Warranty Market By Coverage, Distribution Channel, Vehicle Age and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
An auto extended warranties begin after the expiration of the manufacturer's warranty, and provide repair for failed products equipped in cars, inclusive of parts and labor. Some auto extended warranties are called Date of Purchase (DOP) contracts that wrap around a manufacturer's warranty, providing services which 'uplift' the manufacturer's warranty. An auto extended warranty is much like insurance products. It is underwritten, often by the same large insurance companies from whom consumers and businesses purchase life and property insurance. The insurers must 'reserve' funds to pay for projected claimable events, such as the failure of cars.
Furthermore, auto extended warranty protection plan is a separate agreement purchase by consumers and are designed to provide additional protection on cars. However, consumers face several challenges while dealing with auto extended warranties. For instance, retailers that do not repair in the store, generally sell auto extended warranties, which are third-party policies. Therefore, though consumer buy the warranties from retailers, another company handles claim processes.
Increased awareness for extended warranty, and rise in number of costly repair bills are the major factors that drive the growth of the global auto extended warranty market. Moreover, decline in sale of cars hamper the growth of the market. Furthermore, innovative services offered by major auto extended warranty players, and rise in demand for extended warranty coverage in automobiles are expected to provide lucrative opportunities for the market expansion during the forecast period.
The auto extended warranty market is segmented on the basis of coverage, distribution channel, vehicle age, application, and region. By coverage, it is fragmented into powertrain coverage, stated component coverage, and exclusionary coverage. By distribution channel, it is divided into auto dealers/manufacturers and third-party providers. By vehicle age, it is bifurcated into new vehicle and used vehicle. By application, it is categorized into personal and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
AAA Warranty Services
Concord Auto Protect
Endurance Warranty Services, LLC
TATA Motors Limited
The study provides an in-depth analysis of the global auto extended warranty system market along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the global auto extended warranty market size is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2030 is provided to determine the market potential.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTER'S FIVE FORCES ANALYSIS
3.3.1. Bargaining power of suppliers
3.3.2. Threat of new entrants
3.3.3. Threat of substitutes
3.3.4. Competitive rivalry
3.3.5. Bargaining power among buyers
3.4. MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2020
3.5. MARKET DYNAMICS
3.6. COVID-19 IMPACT ANALYSIS ON AUTO EXTENDED WARRANTY MARKET
CHAPTER 4: AUTO EXTENDED WARRANTY MARKET BY COVERAGE
CHAPTER 5: AUTO EXTENDED WARRANTY MARKET BY DISTRIBUTION CHANNEL
CHAPTER 6: AUTO EXTENDED WARRANTY MARKET BY VEHICLE AGE
CHAPTER 7: AUTO EXTENDED WARRANTY MARKET BY APPLICATION
CHAPTER 8: AUTO EXTENDED WARRANTY MARKET BY REGION
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/ak5sh0
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005537/en/
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