Global Extended Warranty Market Size Study, by Coverage (Standard Protection Plan, Accidental Protection Plan), Distribution Channel, Application, End Use, and Regional Forecasts 2022-2032

Description

The Global Extended Warranty Market is projected to grow significantly, reaching USD 336.25 billion by 2032, up from USD 133.6 billion in 2023, registering a robust compound annual growth rate (CAGR) of 10.8% during the forecast period from 2024 to 2032. Extended warranties are increasingly becoming essential in safeguarding investments across a variety of products and services. These warranties provide consumers and businesses with additional security by covering potential repair or replacement costs beyond the standard warranty period, enhancing customer trust and brand loyalty. As global markets expand, manufacturers and service providers are leveraging extended warranties to differentiate themselves in an intensely competitive landscape.

The rapid growth of electronic devices, automobiles, and home appliances is a key driver for the extended warranty market. With consumers investing in high-value products, there is a rising demand for comprehensive protection plans that go beyond traditional warranties. Additionally, the increasing digitization of warranty services, facilitated by artificial intelligence and machine learning, has revolutionized the claim process, making it seamless and customer-centric. Emerging trends such as integration with IoT devices are further optimizing preventive maintenance and real-time monitoring of assets, boosting the adoption of extended warranties across various sectors.

However, certain challenges persist, including lack of consumer awareness about extended warranties and complexities in claim procedures in certain regions. Additionally, the need for standardized offerings across geographies remains a barrier to universal adoption. Nonetheless, the transition toward digital-first extended warranty solutions and the rising penetration of e-commerce platforms are expected to unlock significant growth opportunities. The accidental protection plans segment, in particular, is anticipated to witness robust growth, given its appeal among consumers looking for enhanced coverage against unforeseen damages.

Regionally, North America dominates the extended warranty market, driven by high consumer awareness, advanced infrastructure, and the presence of key market players. Europe follows closely, benefiting from stringent regulatory standards and a mature consumer base. Meanwhile, the Asia Pacific region is poised to grow at the fastest rate, supported by rapid urbanization, increasing disposable incomes, and the proliferation of electronic devices and automobiles in countries such as China, India, and Japan. Emerging regions like Latin America and the Middle East & Africa are also showing promise, underpinned by improving distribution channels and rising demand for extended coverage options.

Major market players included in this report are:

AIG WarrantyGuard, Inc.
Allianz Global Assistance
American Home Shield Corporation
Assurant, Inc.
AXA Group
The Warranty Group, Inc.
SquareTrade, Inc.
AmTrust Financial Services, Inc.
Asurion LLC
Chubb Limited
Samsung Electronics Co., Ltd.
LG Electronics Inc.
Whirlpool Corporation
Domestic & General Group Limited
GE Appliances

The detailed segments and sub-segments of the market are explained below:

By Coverage

Standard Protection Plan
Accidental Protection Plan

By Distribution Channel

OEMs (Original Equipment Manufacturers)
Retailers
Online

By Application

Consumer Electronics
Automotive
Appliances
Others

By End Use

Residential
Commercial

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year: 2022
Base year: 2023
Forecast period: 2024 to 2032

Key Takeaways:

Market estimates and forecasts for 10 years, from 2022 to 2032.
Annualized revenue and regional-level analysis for each market segment.
Comprehensive geographical landscape with country-level analysis of major regions.
Competitive landscape featuring detailed insights into major players in the market.
Analysis of key business strategies and actionable recommendations for future market approaches.
Evaluation of the competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Extended Warranty Market Executive Summary

1.1. Global Extended Warranty Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. {By Coverage}
- 1.3.2. {By Distribution Channel}
- 1.3.3. {By Application}
- 1.3.4. {By End Use}
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Extended Warranty Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Extended Warranty Market Dynamics

3.1. Market Drivers
- 3.1.1. Surging demand for coverage beyond standard warranties
- 3.1.2. Increasing digitization of warranty claim processes
- 3.1.3. IoT-driven predictive maintenance & real-time monitoring
3.2. Market Challenges
- 3.2.1. Limited consumer awareness & educational gaps
- 3.2.2. Non-standardized offerings across diverse geographies
3.3. Market Opportunities
- 3.3.1. Growing penetration of e-commerce platforms
- 3.3.2. Rise of digital-first extended warranty solutions
- 3.3.3. Uptake of accidental protection plans

Chapter 4. Global Extended Warranty Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Extended Warranty Market Size & Forecasts by Coverage 2022-2032

5.1. Segment Dashboard
5.2. Global Extended Warranty Market: {Coverage} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Standard Protection Plan
- 5.2.2. Accidental Protection Plan

Chapter 6. Global Extended Warranty Market Size & Forecasts by Distribution Channel 2022-2032

6.1. Segment Dashboard
6.2. Global Extended Warranty Market: {Distribution Channel} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. OEMs (Original Equipment Manufacturers)
- 6.2.2. Retailers
- 6.2.3. Online

Chapter 7. Global Extended Warranty Market Size & Forecasts by Application 2022-2032

7.1. Segment Dashboard
7.2. Global Extended Warranty Market: {Application} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Consumer Electronics
- 7.2.2. Automotive
- 7.2.3. Appliances
- 7.2.4. Others

Chapter 8. Global Extended Warranty Market Size & Forecasts by End Use 2022-2032

8.1. Segment Dashboard
8.2. Global Extended Warranty Market: {End Use} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Residential
- 8.2.2. Commercial

Chapter 9. Global Extended Warranty Market Size & Forecasts by Region 2022-2032

9.1. North America Extended Warranty Market
- 9.1.1. U.S. Extended Warranty Market
  - 9.1.1.1. {Coverage} breakdown size & forecasts, 2022-2032
  - 9.1.1.2. {Distribution Channel} breakdown size & forecasts, 2022-2032
  - 9.1.1.3. {Application} breakdown size & forecasts, 2022-2032
  - 9.1.1.4. {End Use} breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Extended Warranty Market
9.2. Europe Extended Warranty Market
- 9.2.1. U.K. Extended Warranty Market
- 9.2.2. Germany Extended Warranty Market
- 9.2.3. France Extended Warranty Market
- 9.2.4. Spain Extended Warranty Market
- 9.2.5. Italy Extended Warranty Market
- 9.2.6. Rest of Europe Extended Warranty Market
9.3. Asia-Pacific Extended Warranty Market
- 9.3.1. China Extended Warranty Market
- 9.3.2. India Extended Warranty Market
- 9.3.3. Japan Extended Warranty Market
- 9.3.4. Australia Extended Warranty Market
- 9.3.5. South Korea Extended Warranty Market
- 9.3.6. Rest of Asia Pacific Extended Warranty Market
9.4. Latin America Extended Warranty Market
- 9.4.1. Brazil Extended Warranty Market
- 9.4.2. Mexico Extended Warranty Market
- 9.4.3. Rest of Latin America Extended Warranty Market
9.5. Middle East & Africa Extended Warranty Market
- 9.5.1. Saudi Arabia Extended Warranty Market
- 9.5.2. South Africa Extended Warranty Market
- 9.5.3. Rest of Middle East & Africa Extended Warranty Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. AIG WarrantyGuard, Inc.
- 10.1.2. Allianz Global Assistance
- 10.1.3. American Home Shield Corporation
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. AIG WarrantyGuard, Inc.
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Allianz Global Assistance
- 10.3.3. Assurant, Inc.
- 10.3.4. AXA Group
- 10.3.5. The Warranty Group, Inc.
- 10.3.6. SquareTrade, Inc.
- 10.3.7. AmTrust Financial Services, Inc.
- 10.3.8. Asurion LLC
- 10.3.9. Chubb Limited
- 10.3.10. Samsung Electronics Co., Ltd.
- 10.3.11. LG Electronics Inc.
- 10.3.12. Whirlpool Corporation
- 10.3.13. Domestic & General Group Limited
- 10.3.14. GE Appliances

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes