Press Release
Press Release
North America holds a significant share of the extended warranty industry owing to the rising disposable income. This is increasing consumer electronics ownership, hence surging the demand for extended warranty and aiding the market growth. The United States has one of the largest car ownerships in the world, which is consequently boosting the market for extended warranty. Moreover, the incorporation of various other services in extended warranty by the leading companies is increasing its demand, therefore propelling the market growth. The rising demand for premium products, which are expensive to maintain and repair, is surging the use of extended warranties, consequently augmenting the industry growth. Apart from this, the Asia Pacific region is also witnessing robust growth owing to the rising awareness regarding consumer electronics. The emergence of small and medium-sized enterprises is increasing the demand for extended warranty for business, which is invigorating the market growth in the region, therefore contributing significantly to the overall industry growth.
Assurant, Inc. (NYSE: AIZ), one of the leading players in the industry, announced its partnership with The London Electric Vehicle Company (LEV) to provide extended warranty solutions for their commercial electric vehicles in January 2021. The proposition, LEVC One, would cover LEVC electric TX black cabs and VN5 electric van models. The proposition closely resembles the Original Equipment Manufacturer Original (OEM) initial offering and would manage the day-to-day claim management by offering its customer service to vehicle owners and allowing LEVC to focus on its core business activity. LEVC One includes a standard warranty for five years and 150,000 miles for the vehicle, eight years and 150,000 miles for the battery, and extended warranty of six years. Such partnerships are not only expanding the footprint of the company but also aiding the market growth for extended warranty.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The major players in the global market for extended warranty are American International Group, Inc., AmTrust Financial, Asurion, CARCHEX, CarShield, LLC, and Assurant, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.