Solar Insurance Market Key Highlights:
- Market Size (2024): USD 7,050 Million
- Projected Market Size (2034): USD 15.941 Million
- CAGR (2023-2034): 8.5%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Solar Insurance Market Definition
Solar insurance refers to policies that cover damage to solar systems, including solar panels or other equipment. These policies are categorized into property insurance, business interruption insurance, liability insurance, equipment breakdown insurance, and warranty insurance. They typically cover a range of risks, including damage or loss of equipment due to theft and natural disasters, such as storms or fire. Due to the increasing adoption of solar energy, the number of large-scale solar projects is increasing worldwide. Considering the risks involved in such projects, the demand for solar insurance is rising, thus boosting the growth of the market. However, insurance policy costs depend on various factors, such as the size of the project and its location.
It is expected that the solar insurance market will grow at the fastest rate in the coming years. This is mainly due to the rising demand for solar panel warranty insurance. As more homeowners and businesses invest in solar panel installations, the demand for solar panel warranty insurance increases. Moreover, rising demand for customized insurance policies and partnerships between manufacturers of solar systems and insurers create immense opportunities in the market.
Solar Insurance Market Segmentation:
By Type
- Solar Panel Property Insurance
- Solar Contractor Insurance
- Solar Panel Production Insurance
- Solar Floater and Builder's Risk Insurance
- Solar Installation Performance Warranty Insurance
- Others
By Application
- Manufacturer
- Contractor
- Installed Clients
Solar Insurance Market Companies:
- Solarif
- ADF Insurance Brokers
- Anora Agency
- Ara's Hourzad Mechatronic
- Industries
- Assicurazioni Generali
- Atlantic Union Gen
- Aviva
- Axelent Partners
- Blackfriars Group
- Canopius
- Chubb
- Coveris
- Daulby Read
- Energetic Insurance
- Energi Insurance Services
- GCube Insurance Services
- Global Insurance Brokers
- Helvetia
- Horton
- HSB
- Hybrid Financial
- Lockyers
- Marsh
- Naturesave
- NCI
- NVECO
- Nviro Insurance
- Owen-Dunn
- Park Insurance
For any questions about this dataset or to discuss customization options, please write to us at sales@statifacts.com
