Home Warranty Service Global Market Report 2024

Description

Home warranty services are contractual agreements between homeowners and warranty companies that cover repair and replacement costs for home systems and appliances. These services offer homeowners financial protection and convenience in managing home repairs and replacements.

The primary types of home warranty services include home systems, appliances, and others. A home systems warranty provides coverage for the repair and replacement of major home systems that break down due to normal wear and tear. These warranties can be distributed through various channels, including direct sales, agents or brokers, and other methods, and are applicable to both residential and organizational purposes.

The home warranty services market research report is one of a series of new reports from The Business Research Company that provides home warranty services market statistics, including home warranty services industry global market size, regional shares, competitors with a home warranty services market share, detailed home warranty services market segments, market trends and opportunities, and any further data you may need to thrive in the home warranty services industry. This home warranty services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The home warranty service market size has grown strongly in recent years. It will grow from $7.88 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed during the historic period can be attributed to several factors, including increased home ownership, the complexity of home systems, heightened consumer awareness, economic factors, and the aging of housing stock.

The home warranty service market size is expected to see strong growth in the next few years. It will grow to $11.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The projected growth during the forecast period can be attributed to rising awareness and demand for protection plans, increased urbanization and condo living, greater financial flexibility and budgeting, and heightened customer expectations and satisfaction. Key trends expected during this period include the development of enhanced mobile apps and online portals, improved cybersecurity for connected devices, remote monitoring and control, customizable and flexible plans, and the expansion of digital platforms and mobile applications.

The growth of the home warranty service market is expected to be fueled by rising homeownership rates. Homeownership involves owning a residential property and managing its maintenance and responsibilities. As real estate becomes a more attractive investment and more accessible to a broader audience, homeownership rates are increasing. Home warranty services offer financial protection and peace of mind by covering the repair and replacement costs of major home systems and appliances. For example, according to the National Association of Home Builders, homeownership rates increased by 0.3 percentage points for households aged 35-44 in the first quarter of 2023, and those aged 65 and older saw their rates rise to 78.8% from 78.6% the previous year. This increase in homeownership rates is driving the demand for home warranty services.

Companies in the home warranty service market are focusing on advanced solutions with embedded home warranty protection to enhance convenience and integrate coverage into property transactions. Embedded home warranty protection refers to coverage automatically included in property transactions, providing immediate protection without separate agreements. For instance, in April 2023, Sure Inc., a US-based developer of infrastructure and distribution platforms, launched an embedded home warranty protection solution. This offering allows partners and property management platforms to integrate home warranty protection into their digital services using Sure's APIs and white-label platform, simplifying the purchasing process for consumers.

In February 2022, Super, a US-based insurance technology company specializing in subscription-based home care, acquired Platinum Home Warranty for an undisclosed amount. This acquisition aims to enhance home care services by integrating the strengths of both companies, improving service quality, and reducing risks through a combined network of in-house technicians and contracted providers. Platinum Home Warranty is a US-based provider offering various homeowners warranty plans.

Major companies operating in the home warranty service market are Transform SR Brands LLC, Old Republic International Corporation, Cross Country Home Services Inc., HomeServe USA Corp., Frontdoor Inc., American Home Shield Corporation, First American Home Warranty Corporation, 2-10 Home Buyers Warranty, Home Buyers Warranty Corporation, Fidelity National Home Warranty Company, OneGuard Home Warranties LLC, Home Warranty of America Inc., Landmark Home Warranty LLC, Liberty Home Guard LLC, ARW Home Services LLC, The Home Service Club Ltd., Platinum Home Warranty LLC, Secure Home Warranty LLC, American Financial Contracting Group Inc., Select Home Warranty LLC, Choice Home Warranty, First Premier Home Warranty, Home Warranty Inc., HomeGuard Home Warranty Inc.

North America was the largest region in the home warranty service market in 2023. The regions covered in the home warranty service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the home warranty service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The home warranty service market includes revenues earned by entities by providing services such as coverage plans, repair and replacement, customer service and support, contractor networking, and optional coverage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Home Warranty Service Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on home warranty service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for home warranty service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The home warranty service market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Home Systems; Appliances; Other Types
2) By Distribution Channel: Direct Sales; Agents Or Brokers; Other Distribution Channel
3) By Application: Residential; Organization
Companies Mentioned: Transform SR Brands LLC; Old Republic International Corporation; Cross Country Home Services Inc.; HomeServe USA Corp.; Frontdoor Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19932

1. Executive Summary

2. Home Warranty Service Market Characteristics

3. Home Warranty Service Market Trends And Strategies

4. Home Warranty Service Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Home Warranty Service Market Size and Growth

5.1. Global Home Warranty Service Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Home Warranty Service Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Home Warranty Service Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Home Warranty Service Market Segmentation

6.1. Global Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Home Systems
Appliances
Other Types
6.2. Global Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Direct Sales
Agents Or Brokers
Other Distribution Channel
6.3. Global Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Organization

7. Home Warranty Service Market Regional And Country Analysis

7.1. Global Home Warranty Service Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Home Warranty Service Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Home Warranty Service Market

8.1. Asia-Pacific Home Warranty Service Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Home Warranty Service Market

9.1. China Home Warranty Service Market Overview
9.2. China Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Home Warranty Service Market

10.1. India Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Home Warranty Service Market

11.1. Japan Home Warranty Service Market Overview
11.2. Japan Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Home Warranty Service Market

12.1. Australia Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Home Warranty Service Market

13.1. Indonesia Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Home Warranty Service Market

14.1. South Korea Home Warranty Service Market Overview
14.2. South Korea Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Home Warranty Service Market

15.1. Western Europe Home Warranty Service Market Overview
15.2. Western Europe Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Home Warranty Service Market

16.1. UK Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Home Warranty Service Market

17.1. Germany Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Home Warranty Service Market

18.1. France Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Home Warranty Service Market

19.1. Italy Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Home Warranty Service Market

20.1. Spain Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Home Warranty Service Market

21.1. Eastern Europe Home Warranty Service Market Overview
21.2. Eastern Europe Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Home Warranty Service Market

22.1. Russia Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Home Warranty Service Market

23.1. North America Home Warranty Service Market Overview
23.2. North America Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Home Warranty Service Market

24.1. USA Home Warranty Service Market Overview
24.2. USA Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Home Warranty Service Market

25.1. Canada Home Warranty Service Market Overview
25.2. Canada Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Home Warranty Service Market

26.1. South America Home Warranty Service Market Overview
26.2. South America Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Home Warranty Service Market

27.1. Brazil Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Home Warranty Service Market

28.1. Middle East Home Warranty Service Market Overview
28.2. Middle East Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Home Warranty Service Market

29.1. Africa Home Warranty Service Market Overview
29.2. Africa Home Warranty Service Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Home Warranty Service Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Home Warranty Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Home Warranty Service Market Competitive Landscape And Company Profiles

30.1. Home Warranty Service Market Competitive Landscape
30.2. Home Warranty Service Market Company Profiles
- 30.2.1. Transform SR Brands LLC
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Old Republic International Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Cross Country Home Services Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. HomeServe USA Corp.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Frontdoor Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Home Warranty Service Market Other Major And Innovative Companies

31.1. American Home Shield Corporation
31.2. First American Home Warranty Corporation
31.3. 2-10 Home Buyers Warranty
31.4. Home Buyers Warranty Corporation
31.5. Fidelity National Home Warranty Company
31.6. OneGuard Home Warranties LLC
31.7. Home Warranty of America Inc.
31.8. Landmark Home Warranty LLC
31.9. Liberty Home Guard LLC
31.10. ARW Home Services LLC
31.11. The Home Service Club Ltd.
31.12. Platinum Home Warranty LLC
31.13. Secure Home Warranty LLC
31.14. American Financial Contracting Group Inc.
31.15. Select Home Warranty LLC

32. Global Home Warranty Service Market Competitive Benchmarking

33. Global Home Warranty Service Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Home Warranty Service Market

35. Home Warranty Service Market Future Outlook and Potential Analysis

35.1 Home Warranty Service Market In 2028 - Countries Offering Most New Opportunities
35.2 Home Warranty Service Market In 2028 - Segments Offering Most New Opportunities
35.3 Home Warranty Service Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer