Kathmandu. The global vehicle insurance market is projected to more than double by 2032.
According to Allied Market Research, the size of the global vehicle insurance market will be $2.27 trillion by 2032. As of 2023, the global vehicle insurance market stands at $923.4 billion. This growth will be achieved with an annual average growth of 10.8 percent.
As the number of road accidents is increasing worldwide, the demand for vehicle insurance has also started to rise. The vehicle insurance market in the Asia-Pacific region is growing rapidly.
