UK Extended Warranty Market Size, Share, Competitive Landscape and Trend Analysis Report by Coverage, By Distribution Channel, By Application, By End users: Country Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

In 2022, the UK extended warranty market was valued at $3.54 billion. It is anticipated to expand at a CAGR of 9.9%, reaching approximately $8.93 billion by 2032. Extended warranty, also known as a service agreement, service contract, or a maintenance agreement, refers to policy that extends the warranty period of consumer durable goods beyond what is provided by manufacturers to consumers on purchase of new items. If the damage is caused by manufacturing faults or low quality, it often covers the expenses of repair or replacement of the product. Extended warranty is generally provided for automobile and electronic & electrical appliances, and is usually offered by the manufacturer, retailer, or third-party service provider.

Increased awareness of extended warranty policies among consumers has led to the development of extended warranty in the insurance market. The rise in extended warranty usage is driven by the need to protect expensive items against unexpected repairs or replacements of parts. As more individuals invest in electronic devices and appliances, the demand for extended warranty services grows, contributing to the expansion of the market for extended warranties.

However, introduction of automotive analytics and early warning system in vehicles, is one of the key factors restraining the growth of the extended warranty market. On the contrary, the expansion of complex and sophisticated product and service are fostering the demand for additional warranty coverage, which is likely to pave growth opportunities for the UK market. In addition, the untapped potential of emerging economies is providing lucrative opportunities for the market growth during the forecast period. Additionally, as vehicles become more advanced, consumers are seeking extended warranty plans to cover the high costs of unexpected repairs, driving the growth of the extended warranty market.

The extended warranty market is segmented based on coverage, application, distribution channel, and end user. By coverage, the market is bifurcated into standard protection plan and accidental protection plan. By application, the market is divided into automobiles, consumer electronics, home appliances, mobile devices & PCs, and others. By distribution channel, the market is segregated into manufacturers, retailers, and others. By end user, the market is divided into business and individuals.

The key players profiled in the extended warranty market analysis are AXA UK, American International Group, Inc., AmTrust Financial, Assurant, Inc., Asurion, Autoguard Group Company, Warrantywise, SquareTrade, Inc., Warranty Direct, Cupra S.A.U. These players have adopted various strategies, including partnership, collaboration, product launch, and developments to increase their market penetration and strengthen their position in the industry.

Key benefits for stakeholders

The study provides in-depth analysis of the extended warranty market along with the current & future trends to illustrate the imminent investment pockets.

Information about key drivers, restrains, & opportunities and their impact analysis on the UK extended warranty market size are provided in the report.

Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

The quantitative analysis of the extended warranty market from 2023 to 2032 is provided to determine the market potential.

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Investment Opportunities

Market share analysis of players by products/segments

Regulatory Guidelines

Additional company profiles with specific to client's interest

Additional country or region analysis- market size and forecast

Expanded list for Company Profiles

Market share analysis of players at global/region/country level

Key market segments

By Coverage

Standard Protection Plan

Accidental Protection Plan

By Distribution Channel

Manufacturers

Retailers

Others

By Application

Automobiles

Consumer Electronics

Home Appliances

Mobile Devices & PCs

Others

By End User

Individuals

Business

By Sales Type

Point of sales

Business

Key market players

AXA UK

American International Group, Inc.

AmTrust Financial

Assurant, Inc.

Asurion

Autoguard Group Company

Warrantywise

SquareTrade, Inc.

Warranty Direct

Cupra S.A.U.

Product Code: A308670

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top Impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitution
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of competitive rivalry
3.4. Market Dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Surge in awareness for extended warranty
  - 3.4.1.2. Rise in penetration of laptops, smartphones, and tablets
  - 3.4.1.3. Rising product complexities
- 3.4.2. Restraints
  - 3.4.2.1. Automotive analytics and early warning system
- 3.4.3. Opportunities
  - 3.4.3.1. Expansion of products and services

CHAPTER 4: UK EXTENDED WARRANTY MARKET, BY COVERAGE

4.1. Market overview
- 4.1.1. Market size and forecast
4.2. Standard protection plan
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by country
4.3. Accidental protection plan
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by country

CHAPTER 5: UK EXTENDED WARRANTY MARKET, BY DISTRIBUTION CHANNEL

5.1. Market overview
- 5.1.1. Market size and forecast
5.2. Manufacturers
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by country
5.3. Retailers
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by country
5.4. Others
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by country

CHAPTER 6: UK EXTENDED WARRANTY MARKET, BY APPLICATION

6.1. Market overview
- 6.1.1. Market size and forecast
6.2. Automobiles
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by country
6.3. Consumer electronics
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by country
6.4. Home appliances
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by country
6.5. Mobile devices and PCs
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by country
6.6. Others
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by country

CHAPTER 7: UK EXTENDED WARRANTY MARKET, BY END USER

7.1. Market overview
- 7.1.1. Market size and forecast
7.2. Individuals
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by country
7.3. Business
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by country

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Competitive dashboard

CHAPTER 9: COMPANY PROFILE

9.1. AXA UK
- 9.1.1. Company overview
- 9.1.2. Company snapshot
- 9.1.3. Product portfolio
- 9.1.4. Business Performance
9.2. AMERICAN INTERNATIONAL GROUP, INC
- 9.2.1. Company overview
- 9.2.2. Company snapshot
- 9.2.3. Product portfolio
- 9.2.4. Business Performance
9.3. AMTRUST FINANCIAL
- 9.3.1. Company overview
- 9.3.2. Company snapshot
- 9.3.3. Product portfolio
9.4. ASSURANT, INC.
- 9.4.1. Company overview
- 9.4.2. Company snapshot
- 9.4.3. Product portfolio
- 9.4.4. Business Performance
- 9.4.5. Key strategic moves and developments
9.5. ASURION
- 9.5.1. Company overview
- 9.5.2. Company snapshot
- 9.5.3. Product portfolio
- 9.5.4. Key strategic moves and developments
9.6. AUTOGUARD GROUP COMPANY
- 9.6.1. Company overview
- 9.6.2. Company snapshot
- 9.6.3. Product portfolio
9.7. WARRANTYWISE
- 9.7.1. Company overview
- 9.7.2. Company snapshot
- 9.7.3. Product portfolio
9.8. SQUARETRADE, INC.
- 9.8.1. Company overview
- 9.8.2. Company snapshot
- 9.8.3. Operating Business Segments
- 9.8.4. Product portfolio
- 9.8.5. Business Performance
9.9. WARRANTY DIRECT
- 9.9.1. Company overview
- 9.9.2. Company snapshot
- 9.9.3. Product portfolio
9.10. CUPRA S.A.U.
- 9.10.1. Company overview
- 9.10.2. Company snapshot
- 9.10.3. Product portfolio
- 9.10.4. Key strategic moves and developments