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Report Overview
Europe automotive extended warranty market size reached around USD 7321.30 Million in 2024. The market is projected to grow at a CAGR of 5.41% between 2025 and 2034 to reach nearly USD 12399.56 Million by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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The European automotive sector is witnessing significant growth, with sales rising by about 17% in the first three quarters of 2023. Reportedly, battery-electric car sales witnessed rapid growth of 55% during the same period.
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Europe has the presence of a significant number of ageing vehicles, increasing the adoption of extended warranties. For instance, the UK has 8.4 million cars over 13 years old.
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Negotiable warranty terms for a small fee allow customized coverage, increasing interest in extended warranties. This flexibility boosts value and improves vehicle market competitiveness.
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
In 2024, the market reached an approximate value of USD 7321.30 Million.
The market is projected to grow at a CAGR of 5.41% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 12399.56 Million by 2034.
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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