Dublin, June 08, 2022 (GLOBE NEWSWIRE) -- The "Home Warranty Service Market by Distribution Channel, Type, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The home warranty service market was valued at $7,315.1 million in 2020, and is expected to reach $13,611.2 million by 2030, registering a CAGR of 6.3% from 2021 to 2030.
Home warranty services cover the cost of structural defects in homes caused due to natural calamities or poor construction quality. Homeowners offer policies that involve the construction of up to 10 years of structural defects, which may include flooring, walls, roof, fence, and sheetrock.
Housing warranties further include a two-year coverage for electrical and plumbing systems as well as six months of household appliances. The cost of a building warranty policy is often part of the price of a new home. Home warranty providers may deny coverage for any reason. Some already existing damages that are caused before buying the warranty coverage are not covered under the scheme. For this reason, a pre-purchase home inspection reveals damage to other systems or equipment. Moreover, the warranty company will not cover items that have been misused, improperly installed, or improperly used.
The growth of the global home warranty service market is majorly driven by rise in need for protection of expensive appliances such as refrigerators; heating, ventilation, and air conditioning (HVAC) systems; dishwashers; ovens; cook tops; plumbing; and electrical systems. This helps in maintenance and servicing of appliances and systems in home. In addition, rise in awareness for warranty services is driving the market growth in tire 2 and tire 3 cities. This awareness is leading to increase in subscription of home warranty services with services providers. However, hidden charges at the time of actually warranty claim and stringent terms & conditions of service providers restraint the market growth.
On the contrary, increase in expenditure on home services majorly in the developing countries such as China, India, and Brazil is anticipated to open new avenues for the growth of the home warranty service market during the forecast period.
The global home warranty service market is segmented into distribution channel, type, sales channel, application, and region. On the basis of distribution channel, the market is categorized into brokers, agents & branches, and others. Depending on type, it is bifurcated into home systems and appliances.
By application, it is segregated into residential and commercial. As per sales channel, it is fragmented into renewals, home resale, and direct to consumer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the home warranty service market include AFC Home Club, Cinch Home Services, Inc., First American Home Warranty, FNHW (Fidelity National Home Warranty), Frontdoor, Inc., Home Buyers Warranty Corporation, Landmark Home Warranty, Old Republic International Corporation, Oneguard Home Warranties, and Transforms SR Brands LLC companies in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the home warranty service market.
Key Benefits
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the home warranty service market
- In-depth home warranty service market analysis is conducted by estimations for the key segments between 2021 and 2030
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities
- The market forecast analysis from 2021 to 2030 is included in the report
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Market Player Positioning
3.3. Key Forces Shaping Home Warranty Service Industry
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Protection of Expensive Appliances
3.4.1.2. Rise in Awareness for Home Warranty Services
3.4.2. Restraint
3.4.2.1. Hidden Charges and Terms & Conditions Associated With Warranty Services
3.4.3. Opportunity
3.4.3.1. Increase in Expenditure on Home Services in Emerging Countries
3.5. Covid-19 Impact Analysis
Chapter 4: Home Warranty Service Market, by Distribution Channel
4.1. Market Overview
4.1.1. Market Size and Forecast, by Distribution Channel
4.2. Brokers
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Agents & Branches
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. Others
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country
Chapter 5: Home Warranty Service Market, by Type
5.1. Market Overview
5.1.1. Market Size and Forecast, by Type
5.2. Home System
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis, by Country
5.3. Appliance
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis, by Country
Chapter 6: Home Warranty Service Market, by Application
6.1. Market Overview
6.1.1. Market Size and Forecast, by Application
6.2. Residential
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis, by Country
6.3. Commercial
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis, by Country
Chapter 7: Home Warranty Service Market, by Sales Channel
7.1. Market Overview
7.1.1. Market Size and Forecast, by Sales Channel
7.2. Renewals
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, by Region
7.2.3. Market Analysis, by Country
7.3. Home Resales
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast, by Region
7.3.3. Market Analysis, by Country
7.4. Direct to Consumer
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast, by Region
7.4.3. Market Analysis, by Country
Chapter 8: Home Warranty Service Market, by Region
Chapter 9: Company Profiles
9.1. Afc Home Club
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.2. Cinch Home Services, Inc.
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Key Strategic Moves and Developments
9.3. First American Home Warranty Corporation
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. Business Performance
9.3.7. Key Strategic Moves and Developments
9.4. Fnhw
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.5. Frontdoor, Inc. (American Home Shield Corporation)
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. Business Performance
9.5.7. Key Strategic Moves and Developments
9.6. Home Buyers Warranty Corporation
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. Key Strategic Moves and Developments
9.7. Landmark Home Warranty
9.7.1. Company Overview
9.7.2. Key Executives
9.7.3. Company Snapshot
9.7.4. Operating Business Segments
9.7.5. Product Portfolio
9.8. Old Republic International Corporation
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. Business Performance
9.8.7. Key Strategic Moves and Developments
9.9. Oneguard Home Warranties
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.10. Transform Sr Brands LLC
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Operating Business Segments
9.10.4. Product Portfolio
For more information about this report visit https://www.researchandmarkets.com/r/vpz0kc
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