Auto Extended Warranty Market is predicted to reach USD 59.0 billion at a CAGR of 6.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Auto Extended Warranty Market”

The Market is estimated to register a CAGR of 6.20% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Auto Extended Warranty Market— OLIVE, AAA WARRANTY SERVICES, TATA MOTORS LIMITED, ASSURANT, INC., ENDURANCE WARRANTY SERVICES, LLC, AXA, CARCHEX, CONCORD AUTO PROTECT, CARSHIELD, LLC, AMTRUST FINANCIAL.

Auto Extended Warranty Highlights

The global Auto Extended Warranty market is expected to register a CAGR of 6.20% during the forecast period and is estimated to reach USD 59.0 billion by 2032.

The auto extended warranty market is predicted to expand rapidly throughout the forecast period. The primary factors influencing the market growth are growing awareness of extended warranties and an increase in the frequency of high repair costs. Furthermore, the drop in car sales impedes market growth. Moreover, innovative services provided by leading car extended warranty companies, as well as an increase in demand for extended warranty coverage in automobiles, are likely to drive future growth in the auto extended warranty market. However, each of these factors is expected to have a significant impact on the vehicle extended warranty market over the forecast period.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Global Auto Extended Warranty Market outlook

Segmental Analysis

The global Auto Extended Warranty Market has been segmented based on Coverage, Distribution Channel, Vehicle Age, and Application.

The Coverage segments the market into Powertrain Coverage, Stated Component Coverage, And Exclusionary Coverage. In 2023, the exclusionary coverage sector is expected to have a major share of the market. It is because it provides the highest level of protection available.

The Distribution Channel segments the market into Auto Dealers/Manufacturers and Third-Party Providers. The Auto Dealers/Manufacturers sector had the largest market share in 2023, accounting for over half of global extended warranty revenue. This is attributable to manufacturers offering aftermarket goods and extended warranties that cover specific parts or types of problems.

The Vehicle Age has divided the worldwide Auto Extended Warranty Market into New Vehicles and Used Vehicles. The used vehicle category is predicted to hold a sizable proportion of the market in 2023, owing to the security it provides against unforeseen maintenance costs.

Application has divided the worldwide Last-Mile Delivery Market into Personal And Commercial. During the projection period, the personal auto extended warranty market share will expand the most. The demand for auto extended warranties is expanding as more people own cars around the world.

Regional Analysis

The global Auto Extended Warranty Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Auto Extended Warranty Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Auto Extended Warranty Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Auto Extended Warranty Market comprises of the Middle East, Africa, and Latin America.

North America accounted for the largest share of revenue in the market. North America's auto extended warranty companies are fiercely competitive, with the US and Canada being the two main producers. Increased vehicle use, customer knowledge, and the need for longer protection beyond the manufacturer's warranty are the main drivers of growth. Key participants in this market include CARCHEX, Endurance Warranty, and Assurant.

Moreover, Europe also has a substantial auto extended warranty market. Germany, the United Kingdom, France, and Italy are driving market expansion due to vehicle age, maintenance expenses, and the necessity for longer warranties as protection needs increase. Warranty Direct, Mondial Assistance, and Auto Guard Warranties are among the leading participants in the European sector.

Additionally, Asia Pacific is a booming market, with countries such as China, Japan, South Korea, and India seeing increased vehicle sales and a growing middle-class population. The increased awareness of the benefits of extended warranties, as well as the use of used vehicles, are driving demand for extended warranties in this region. Zurich, ICBC, and Ping An Insurance are among the leading companies in the Asia Pacific market.

The rest of the world’s Last-Mile Delivery market is segmented into three regions: the Middle East, Africa, and Latin America. The rising automotive industry, vehicle ownership, and increased understanding of warranty advantages all help to drive market growth. Porto Seguro, Mapfre, and HDI Seguros are among the region's leading insurers.

Key Findings of the Study

• The global Auto Extended Warranty Market is expected to reach USD 59.0 billion by 2032, at a CAGR of 6.20% during the forecast period.


• Asia Pacific is a booming market, with countries such as China, Japan, South Korea, and India seeing increased vehicle sales and a growing middle-class population.


• Based on Vehicle Age, the used vehicle category is predicted to hold a sizable proportion of the market in 2023.


• OLIVE, AAA WARRANTY SERVICES, TATA MOTORS LIMITED, ASSURANT, INC., ENDURANCE WARRANTY SERVICES, LLC, AXA, CARCHEX, CONCORD AUTO PROTECT, CARSHIELD, LLC, and AMTRUST FINANCIAL are the key market players.