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North America Surety Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Bond Type (Contract Surety Bond, Commercial Surety Bond, Court Surety Bond, and Fidelity Surety Bond); and Country

Code: TIPRE00013321 | Pages: 119 | Industry: Manufacturing and Construction | Date: Aug 2020
Covid

Market Introduction

The surety market is traditionally a local business based on know-how of the local market. However, with increasing globalization, large surety market players are setting up operations in developing markets such as Canada and Mexico. One of the major challenge faced by surety companies is to acquire the knowledge on local political and regulatory landscape. Global companies, however, have the capacity to hire professional local underwriters to compete in the market. The adoption of surety market in the North America countries is escalating at a tremendous rate over the years, and the adoption trend is foreseen to continue over the years. The fast developing countries are emphasizing urban development thereby, investing substantial amounts towards construction sector. This is generating significant demand for surety bonds, which is catalyzing the surety market to propel in the countries over the years

Market Overview and Dynamics

The North America surety market was valued at US$ 8,573.43 million in 2019 and is expected to grow at a CAGR of 6.4% during the forecast period to reach US$ 13,498.40 million by 2027. The North American industrialization have been escalating at a decent rate over the years. The US and Canada experiences continuous rise in number of small businesses year on year. The strong economy and governmental support enables several start-ups to establish their businesses in the countries. Surety bonds facilitates small businesses to acquire contracts by assuring the customer with a guarantee that the defined work will be completed in specified time. Several public and private contracts demand surety bonds, which are provided by surety companies. The constantly increasing number of small businesses in the North American construction industry coupled with the availability of substantial numbers of surety market players in the US and Canada is expected to drive the surety market through 2027.

Key Market Segments

In terms of bond type, the contract surety bond segment accounted for a largest share of the North America surety market in 2019. Commercial surety bond segment held the second largest share in the market, based on type, in 2019. The court surety bond segment is anticipated to surge at a prime rate during the forecast period from 2020 to 2027.


 

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the surety market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. The major companies listed in the North America surety market report are CNA Financial Corporation, The Travelers Indemnity Company, Liberty Mutual Insurance Company, Chubb, and The Hartford among others.

 

Reasons to buy report

  • It provides understanding of the North America surety market landscape and identifies market segments that are most likely to guarantee a strong return.
  • It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the North America surety market.
  • It helps efficiently plan merger and acquisition, and partnership deals in the North America surety market by identifying market segments with the most promising probable sales
  • It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the North America surety market.
  • It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.

 

NORTH AMERICA SURETY MARKET SEGMENTATION

 

North America Surety Market, by Bond Type

  • Contract Surety Bond
  • Commercial Surety Bond
  • Court Surety Bond
  • Fidelity Surety Bond

 

North America Surety Market, by Country

  • US
  • Canada
  • Mexico

 

Company Profiles

  • CRUM & FORSTER
  • CNA Financial Corporation
  • American Financial Group, Inc.
  • The Travellers Indemnity Company
  • Liberty Mutual Insurance Company
  • The Hartford
  • HCC Insurance Holdings, Inc.
  • CHUBB
  • AmTrust Financial Services
  • IFIC Security Group

TABLE OF CONTENTS

1.             Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.             Key Takeaways

3.             Research Methodology

3.1       Coverage

3.2       Secondary Researcah

3.3       Primary Research

4.             Surety Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        North America – PEST Analysis

5.             Surety Market – Key Market Dynamics

5.1       KEY MARKET DRIVERS

5.1.1        Ageing Infrastructure in North America Economies Creating a need for Massive Investments in its Restoration

5.1.2        Global Acceptance of Public Private Partnership Model Anticipated to Drive the Surety Market Growth

5.2       Market Restraints

5.2.1        Shortage of Properly Trained Underwriter in the Surety Industry

5.3       Key Market Opportunities

5.3.1        Increasing Number of Small Businesses in the Region

5.4       Future Trends

5.4.1        Adoption of Surety Bond by Diverse End-use Industries

5.5       Impact Analysis of Drivers and Restraints

6.             Surety Market – North America Analysis

6.1       Surety Market North America Overview

6.2       Surety Market – Revenue and Forecast to 2027 (US$ Million)

6.3       Market Positioning – Five Key Players

7.             Surety Market Analysis – By Bond Type

7.1       Overview

7.2       Surety Market Breakdown, by Bond Type, 2019 & 2027

7.3       Contract Surety Bond

7.3.1        Overview

7.3.2        Contract Surety Bond Market Forecasts and Analysis

7.4       Commercial Surety Bond

7.4.1        Overview

7.4.2        Commercial Surety Bond Market Forecasts and Analysis

7.5       Fidelity Surety Bond

7.5.1        Overview

7.5.2        Fidelity Surety Bond Market Forecasts and Analysis

7.6       Court Surety Bond

7.6.1        Overview

7.6.2        Court Surety Bond Market Forecasts and Analysis

8.             Surety Market – By Country

8.1       Overview

8.2       Surety Market, By Country (2019 and 2027)

8.2.1        North America: Surety Market, by Key Country

8.2.1.1      US Surety Market Revenue and Forecasts to 2027 (US$ MILLION)

8.2.1.1.1       US Surety Market, by Bond Type

8.2.1.2      Canada Surety Market Revenue and Forecasts to 2027 (US$ Million)

8.2.1.2.1       Canada Surety Market, by Bond Type

8.2.1.3      Mexico Surety Market Revenue and Forecasts to 2027 (US$ Million)

8.2.1.3.1       Mexico Surety Market, by Bond Type

9.             Impact of COVID-19 Pandemic Outbreak

9.1       North America: Impact Assessment of COVID-19 Pandemic

10.          Industry Landscape

10.1    Market Initiative

10.2    Merger and Acquisition

11.          Company Profiles

11.1    Crum & Forster

11.1.1     Key Facts

11.1.2     Business Description

11.1.3     Financial Overview

11.1.4     SWOT Analysis

11.1.5     Key Developments

11.2    CNA FINANCIAL CORPORATION

11.2.1     Key Facts

11.2.2     Business Description

11.2.3     Financial Overview

11.2.4     SWOT Analysis

11.2.5     Key Developments

11.3    American Financial Group, Inc.

11.3.1     Key Facts

11.3.2     Business Description

11.3.3     Financial Overview

11.3.4     SWOT Analysis

11.3.5     Key Developments

11.4    The Travelers Indemnity Company

11.4.1     Key Facts

11.4.2     Business Description

11.4.3     Financial Overview

11.4.4     SWOT Analysis

11.4.5     Key Developments

11.5    Liberty Mutual Insurance Company

11.5.1     Key Facts

11.5.2     Business Description

11.5.3     Financial Overview

11.5.4     SWOT Analysis

11.5.5     Key Developments

11.6    The Hartford

11.6.1     Key Facts

11.6.2     Business Description

11.6.3     Financial Overview

11.6.4     SWOT Analysis

11.6.5     Key Developments

11.7    HCC Insurance Holdings, Inc. (Tokio Marine & Nichido Fire Insurance Co., Ltd.)

11.7.1     Key Facts

11.7.2     Business Description

11.7.3     Financial Overview

11.7.4     SWOT Analysis

11.7.5     Key Developments

11.8    Chubb

11.8.1     Key Facts

11.8.2     Business Description

11.8.3     Financial Overview

11.8.4     SWOT Analysis

11.8.5     Key Developments

11.9    AmTrust Financial Services

11.9.1     Key Facts

11.9.2     Business Description

11.9.3     Financial Overview

11.9.4     SWOT Analysis

11.9.5     Key Developments

11.10 IFIC Security Group

11.10.1   Key Facts

11.10.2   Business Description

11.10.3   Financial Overview

11.10.4   SWOT Analysis

11.10.5   Key Developments

12.          Appendix

12.1    About The Insight Partners

12.2    Word Index

LIST OF TABLES

Table 1.             SURETY MARKET – REVENUE AND FORECAST TO 2027 (US$ MILLION)

Table 2.             NORTH AMERICA: SURETY MARKET, BY COUNTRY – REVENUE AND FORECAST TO 2027 (US$ MILLION)

Table 3.             US SURETY MARKET, BY BOND TYPE –REVENUE AND FORECAST TO 2027 (US$ MILLION)

Table 4.             CANADA SURETY MARKET, BY BOND TYPE –REVENUE AND FORECAST TO 2027 (US$ MILLION)

Table 5.             MEXICO SURETY MARKET, BY BOND TYPE –REVENUE AND FORECAST TO 2027 (US$ MILLION)

Table 6.             LIST OF ABBREVIATION

LIST OF FIGURES

Figure 1.           NORTH AMERICA SURETY MARKET SEGMENTATION AND COUNTRIES

Figure 2.           NORTH AMERICA SURETY MARKET OVERVIEW

Figure 3.           CONTRACT SECURITY BOND SEGMENT HELD THE LARGEST MARKET SHARE

Figure 4.           NORTH AMERICA – PEST ANALYSIS

Figure 5.           SURETY MARKET IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

Figure 6.           GEOGRAPHIC OVERVIEW OF NORTH AMERICA SURETY MARKET

Figure 7.           Surety Market – Revenue and Forecast to 2027 (US$ Million)

Figure 8.           SURETY MARKET BREAKDOWN, BY BOND TYPE (2019 AND 2027)

Figure 9.           CONTRACT SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 10.        COMMERCIAL SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 11.        FIDELITY SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 12.        COURT SURETY BOND MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 13.        NORTH AMERICA: SURETY MARKET REVENUE SHARE, BY KEY COUNTRY (2019 AND 2027)

Figure 14.        US SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 15.        CANADA SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 16.        MEXICO SURETY MARKET REVENUE AND FORECASTS TO 2027 (US$ MILLION)

Figure 17.        Impact of COVID-19 Pandemic in North American Country Markets

 

 

  1. CRUM & FORSTER
  2. CNA Financial Corporation
  3. American Financial Group, Inc.
  4. The Travellers Indemnity Company
  5. Liberty Mutual Insurance Company
  6. The Hartford
  7. HCC Insurance Holdings, Inc.
  8. CHUBB
  9. AmTrust Financial Services
  10. IFIC Security Group
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America surety market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America surety market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Related Tags North America Surety Market

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