Home Warranty Service Market to Reach $13.6 Bn, Globally, by 2030 at 6.3% CAGR: Allied Market Research

- Protection of expensive appliances and rise in awareness for home warranty services drive the growth of the global home warranty service market.

PORTLAND, Ore., Feb. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Home Warranty Service Market by Distribution Channel (Brokers, Agents & Branches, and Others), Type (Home System and Appliance), Application (Residential and Commercial), and Sales Channel (Renewals, Home Resale, and Direct to Consumer): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global home warranty service industry generated $7.3 billion in 2020, and is anticipated to generate $13.6 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030.

Prime determinants of growth

Protection of expensive appliances and rise in awareness for home warranty services drive the growth of the global home warranty service market. However, hidden charges and terms & conditions associated with warranty services hinder the market growth. On the other hand, increase in expenditure on home services in emerging countries presents new opportunities in the coming years.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/13947

Covid-19 Scenario

• The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global home warranty service market, owing to restrictions in construction activities.
• In addition, manufacturing activities were halted and the supply chain was completely disrupted, which in turn, hampered the market on a global level, especially during the initial phase.
• However, the market is expected to recover by mid of 2022.

The residential segment to maintain its leadership status throughout the forecast period

Based on application, the residential segment held the highest market share in 2020, accounting for more than two-thirds of the global home warranty service market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030, owing to coverage for maximum home systems and appliances.

Get detailed COVID-19 impact analysis on the Fire Hydrants Market: https://www.alliedmarketresearch.com/request-for-customization/13947

The renewals segment to maintain its lead position during the forecast period

Based on sales channel, the renewals segment accounted for the largest share in 2020, contributing to nearly one-third of the global home warranty service market, and is projected to maintain its lead position during the forecast period. This is due to increase in renewals of coverages from already existing users. However, the home resales segment is expected to portray the largest CAGR of 7.0% from 2021 to 2030, owing to rise in sales of home warranty services while selling homes.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global home warranty service market, owing to large scale revenue generation from the U.S. Moreover, the LAMEA region is expected to witness the fastest CAGR of 10.2% during the forecast period, owing to rapid urbanization of developing countries.

Leading Market Players

• AFC Home Club
• Cinch Home Services, Inc.
• First American Home Warranty
• FNHW (Fidelity National Home Warranty)
• Frontdoor, Inc.
• Home Buyers Warranty Corporation
• Landmark Home Warranty
• Old Republic International Corporation
• Oneguard Home Warranties
• Transforms SR Brands LLC

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/13947

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial

Similar Reports We Have:

Home Automation Market -  The home automation market size was valued at $46,607.1 million in 2020, and is expected to reach $239,897.8 million by 2030, registering a CAGR of 17.6% from 2021 to 2030.

Roofing Tiles Market - Global roofing tiles market size was valued at $30,400.0 million in 2019, and is projected to reach $41,354.9 million by 2027, registering a CAGR of 5.2% from 2020 to 2027. Automatic Door market - Global Automatic Door Market size was valued at $22,400.0 million in 2018, and is projected to reach $41,745.0 million by 2026, growing at a CAGR of 7.8% from 2019 to 2026.

Latin America Slide Rails Market for Home Appliances  - The Latin America slide rails market size for home appliances is expected to reach $1,734.4 million in 2027, growing at a CAGR of 3.6% from 2020 to 2027.

Pre-Book Now with 10% Discount:

Home Remodeling Market - Global Opportunity Analysis and Industry Forecast, 2020-2030 

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg