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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Automotive Extended Warranty Market Growth
Automotive extended warranty is an additional warranty that an individual can buy while purchasing a new car, or before the standard warranty expires. It offers a protection plan for vehicles that is valid for certain periods.
Extended warranties are carried out in accordance with European Union (EU) regulations in the region.
The rise in awareness of the extended warranty among consumers is expected to drive its demand in Europe. This is due to its benefits as it offers warranty coverage ahead of the warranty period to help sustain the vehicle for an extended period.
The European market for new vehicles is expected to grow due to the rising use of new cars and increased purchases of luxury vehicles. To further boost sales, manufacturers are offering extended warranties for new vehicles.
In 2022, passenger car registrations in the EU reached about 253 million. The countries with the highest number of registered cars include Germany, Italy, and France.
Europe Automotive Extended Warranty Market Report Snapshots
Europe Automotive Extended Warranty Market Size
Europe Automotive Extended Warranty Market Growth
Europe Automotive Extended Warranty Market Trends
Europe Automotive Extended Warranty Market Share
Europe Automotive Extended Warranty Companies
Europe Automotive Extended Warranty Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 7,321.30 million in the year 2023.
This market is expected to grow at a CAGR of 5.41% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach to a value of USD 11,750.37 million by 2032.
The coverages for extended warranties include mileage-based, more than 24 months, 12 months to 24 months, and up to 12 months.
The key countries include the United Kingdom, Germany, France, Italy, Spain, Poland, and others.
The end uses include passenger cars, LCV and MCV, bus, and others.
The operating models of vehicles are used passenger cars and new passenger cars.
The key players in the market include Volkswagen AG, Canopius Group, BMW AG, Renault Group, Stellantis N.V., Ford Motor Company, Mercedes-Benz Group AG, and CG Car-Garantie Versicherungs-AG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124