Guaranteed Auto Protection (GAP) Insurance Market To Generate $8.0 Billion By 2031: Associated Market Research

Portland, OR, Aug. 12, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, worldwide. guaranteed auto protection (gap) insurance. the market earned $3.2 billion in 2021, and is expected to generate $8.0 billion by 2031, showing a CAGR of 9.9% from 2022 to 2031. . The research provides valuable guidance to leading players, investors, shareholders, and startups in planning strategies for sustainable growth and market competitiveness.

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Report Spread and Details:

Report Coverage Details
Prediction Time 2022-2031
Beginning Year 2021
Market Growth in 2021 $3.2 billion
Market Growth in 2031 $8.0 billion
CAGR 9.9%
Number of Pages in Report 365
Sections Covered Type, Application, Distribution Channel, and Region.
Drivers Increasing demand for protection against unexpected losses for borrowers among self-financing companies and auto loan companies
When it comes to theft information for car dealers and fleet owners


Increase interest in working with current car insurance companies
Taking full insurance and adding GAP insurance
Restrictions Not realizing the benefits of guaranteed GAP insurance
Reduce the number of new sales
Fierce competition

The story of COVID-19:

  • The spread of the COVID-19 pandemic disrupted the growth of the global insurance market, due to the establishment of a global recession that led to economic slowdown, uncertainty in the financial sectors around the world, and a volatile market.
  • In addition, the downturn in the auto industry has affected the sales of GAP insurance in 2020, thereby reducing the premiums significantly.
  • In addition, many gap insurance companies have adopted digital technology in their business to better communicate with their customers. This has contributed to the growth of the GAP insurance market during the global health crisis. Also, the market has a great opportunity to achieve economic growth after the pandemic.

The study provides detailed segmentation of the global insurance market based on type, application, distribution channel, and region. This report discusses the regions and sub-sections in detail with the help of tables and figures. Market players and investors can make strategies based on the high revenue generating and fast growing sectors mentioned in the report.

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By type, the GAP financial insurance segment held the largest share in 2021, accounting for two-fifths of the global insurance market, and is expected to continue its leadership during the forecast period. However, the GAP return on value insurance segment is expected to register the highest CAGR of 14.2% from 2022 to 2031.

Based on consumption, the passenger car segment became the largest segment in 2021, contributing to nearly three-fourths of the global insurance market, and is expected to continue to dominate in terms of revenue during the forecast period. However, the commercial vehicle segment is expected to show Highest CAGR of 12.4% from 2022 to 2031.

Based on the distribution pattern, the agents & brokers segment is the largest share in 2021, accounting for more than half of the global market share, and is expected to continue its leadership during the forecast period. However, the direct response segment is expected to grow at a CAGR of 11.9% during the forecast period.

In terms of region, North America shared the largest share in 2021, which contributed nearly two-fifths of the total market share. However, Asia-Pacific is expected to retain its largest share in terms of revenue in 2031. Furthermore, the same region is expected to show the fastest CAGR of 13.2% during the forecast period. The study also examines regions including Europe and LAMEA.

Learn more about the COVID-19 Impact Analysis at GAP Insurance Market:

The global insurance market leaders analyzed in the study include Admiral Group Plc, Allianz, Allstate Insurance Company, American Family Insurance, Aviva, AXA, Berkshire Hathaway Inc., Chubb, Direct Gap, Kemper Corporation, Liberty Mutual Insurance Company, Majesco , Nationwide Mutual Insurance Company, Progressive Casualty Insurance Company, State Farm Mutual Automobile Insurance Company, The Travelers Insurance Company, and Zurich.

The report provides a detailed analysis of the key players in the market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, partnerships, etc. to increase their market share and maintain large shares in various segments. This report is valuable in analyzing the business trends, operating segments, trends, and strategic moves of the market players to show the competitive landscape.

Main advantages for those who have:

  • This report provides market segmentation analysis, trends, estimates, and dynamics analysis of the GAP insurance market from 2021 to 2031 to identify GAP insurance market opportunities.
  • The market research is provided along with information related to key drivers, restraints, and opportunities in the GAP insurance market analysis.
  • Porter’s five forces analysis shows the ability of buyers and sellers to help stakeholders make profitable business decisions and strengthen their buyer and seller networks.
  • An in-depth analysis of the GAP insurance market segment will help determine the existing market opportunities and GAP insurance market share.
  • The major countries in each region are mapped according to their contribution to the global market.
  • Market player positioning helps in branding and better understanding of market players’ position.
  • The report includes regional and GAP insurance market analysis, key players, market segments, application areas, and market growth strategies.

Guaranteed Auto Protection (GAP) Insurance Key Market Segments:
By Type:

  • Return to Invoice GAP Insurance
  • Finance GAP Insurance
  • Car Replacement GAP Insurance
  • Value GAP return insurance
  • Others


  • Passenger Car
  • Car For Sale

By Distribution Method:

  • Agents & Brokers
  • Direct Response
  • Others

Depending on the Region:

  • North America
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Netherlands
    • Belgium
    • All over Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Thailand
    • South Asia-Pacific
    • Latin America
    • To kill
    • Africa

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