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Auto Extended Warranty Providers: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Auto Extended Warranty Providers Market Research Report | NAICS OD5038 | Oct 2016

Extended recovery: A gradual increase in new car purchases will bolster demand

IBISWorld’s Auto Extended Warranty Providers market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 11-16
1.8%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
15,436
Businesses
1,641
Industry Threats & Opportunities
  • Comprehensive warranty plans from automobile manufacturers reduced industry demand
  • The average age of the vehicle fleet is expected to grow
  • Car dealerships will likely lower prices on their extended warranty plans to be more competitive
  • ... purchase to read more

Industry Analysis & Industry Trends

The Auto Extended Warranty Providers industry has suffered losses from a slow economy and changing trends in auto warranties. Automobile manufacturers are increasingly offering more comprehensive warranty plans, making extended warranty less attractive to new car buyers. Over the next five years, industry revenue is forecast to grow. As the economy improves, more consumers will purchase new cars and, consequently, more extended warranty plans. However, growth will continue to be hampered by competition from warranty plans offered by auto manufacturers and car dealerships... ... purchase to read more

Industry Report - Starting a New Business Chapter

The barriers to enter the Auto Extended Warranty Providers industry are moderate and on the rise. New providers must adhere to a number of stringent laws and regulatory standards. For example, many states have enacted laws dictating that providers adhere to ethical marketing techniques. This is in response to the negative image many consumers have of the industry, especially with regard to the collapse of US Fidelis. Moreover, the Service Contract Industry Council (SCIC) proactively campaigns its regulatory framework to develop anti-scam laws. US states are progressively implementing these SCIC measures, which include clearly defining the industry and providing more consumer protection.

New entrants must have access to significant capital to provide extended warranty coverage. Lar.. ... purchase to read more

Additional Insights for the Auto Extended Warranty Providers Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Auto Extended Warranty Providers Industry are

  • Claims processing service must be user friendly
  • Ensuring pricing policy is appropriate
  • Having a good reputation
  • IBISWorld analysts also discuss how external factors such as Average age of vehicle fleet and Number of motor vehicle registrations in the Auto Extended Warranty Providers industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Auto Extended Warranty Providers Industry?

    This industry provides automobile owners with extended warranty protection. These warranty plans are offered by the manufacturer or auto dealer at the time of purchase and are typically included in the price of the vehicle. Third-party warranty providers, who sell warranty plans after the initial purchase of the vehicle, are also included in this industry.

    Industry Products
    Stated competent coveragePowertrain coverageBumper-to-bumper coverageOther coverage
     
    Industry Activities
    Basic coveragePremium coverage


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Average age of vehicle fleet
  • Number of motor vehicle registrations
  • Per capita disposable income
  • Regulation for the Property, Casualty and Direct Insurance Industry
  • Current Performance
  • Chart: Revenue Growth
  • Industry Outlook
  • Warranty trends
  • Replacing cars
  • Industry landscape
  • Table: Auto Extended Warranty Providers Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Auto Extended Warranty Providers Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Consumers
  • Key Selling Industries
  • Commercial Banking
  • Computer & Packaged Software Wholesaling
  • Telecommunications Resellers
  • Products & Services
  • Bumper-to-bumper coverage
  • Powertrain coverage
  • Stated competent coverage
  • Other coverage
  • Chart: Auto Extended Warranty Providers Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Consumers aged 45 to 54
  • Consumers aged 55 to 64
  • Consumers aged 35 to 44
  • Consumers aged 65 and over
  • Consumers aged 18 to 34
  • Chart: Major Market Segmentation for the Auto Extended Warranty Providers Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Auto Extended Warranty Providers
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Auto Extended Warranty Providers Industry
  • Industry Globalization
    Major Companies
    Assurant Solutions
  • Table: Assurant Solutions - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Auto Extended Warranty Providers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Auto Extended Warranty Providers Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Average age of vehicle fleet (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Liability
  • The company's contractual obligation to the owner of a warranty plan.
  • Powertrain
  • Pertains to the parts of a vehicle that generate power, such as the engine, transmission and drive axle.
  • Premium
  • The specified amount of payment required by a warranty provider for coverage under a defined period of time.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Auto Extended Warranty Providers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Auto Extended Warranty Providers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Auto Extended Warranty Providers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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