Guaranteed auto protection insurance policy covers the borrowers residual gap between actual cash valuation of an automobile and the amount left to be paid to the financing, if vehicle meets with accidents or collisions. Moreover, GAP insurance coverages are commonly utilized for new and used vehicles. Generally, if an individual purchases a car through financing, then buyers need to purchase GAP insurance.
This report contains market size and forecasts of Guaranteed Auto Protection (GAP) Insurance in Global, including the following market information:
Global Guaranteed Auto Protection (GAP) Insurance Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Guaranteed Auto Protection (GAP) Insurance market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Finance GAP Insurance Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Guaranteed Auto Protection (GAP) Insurance include Progressive Casualty Insurance Company, Direct Gap, StateFarm, Allstate Insurance Company, American Family Insurance, GEICO, Allianz SE, AXA and Aviva. etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Guaranteed Auto Protection (GAP) Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Guaranteed Auto Protection (GAP) Insurance Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Guaranteed Auto Protection (GAP) Insurance Market Segment Percentages, by Type, 2021 (%)
Finance GAP Insurance
Return-to-Invoice GAP Insurance
Vehicle Replacement GAP Insurance
Return-to-Value GAP Insurance
Others
Global Guaranteed Auto Protection (GAP) Insurance Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Guaranteed Auto Protection (GAP) Insurance Market Segment Percentages, by Application, 2021 (%)
Passenger Cars
Commercial Vehicles
Global Guaranteed Auto Protection (GAP) Insurance Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Guaranteed Auto Protection (GAP) Insurance Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Guaranteed Auto Protection (GAP) Insurance revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Guaranteed Auto Protection (GAP) Insurance revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Progressive Casualty Insurance Company
Direct Gap
StateFarm
Allstate Insurance Company
American Family Insurance
GEICO
Allianz SE
AXA
Aviva