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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Automotive Extended Warranty Market Size
The Europe automotive extended warranty market reached a value of around USD 7,321.30 million in 2023. The market is estimated to grow at a CAGR of 5.41% between 2024 and 2032 to reach a value of USD 11,750.37 million by 2032.
Europe Automotive Extended Warranty Market Outlook
- 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.
- 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.
- 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 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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