Press Release
Vehicle Insurance in China on the Rise: Report 2024–2032
Pune, November 28, 2025 – The China Motor Insurance Market is set for steady expansion, projected to grow from approximately USD 132.5 billion in 2024 to over USD 187.6 billion by 2032. This surge is primarily attributed to the rising number of vehicles on Chinese roads and the increasing penetration of insurance products across urban and semi-urban regions.
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With a projected compound annual growth rate (CAGR) of around 6.2% between 2025 and 2032, the industry is experiencing significant transformation fueled by regulatory reforms, enhanced consumer awareness, and the introduction of diverse insurance options including collision insurance, personal accident coverage, and policies tailored for electric vehicles. Technological advancements such as usage-based insurance and integration of telematics are creating new pathways for personalization and efficiency.
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The report segments the China Motor Insurance Market comprehensively:
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By Policy Type
Comprehensive Motor Insurance
Third-Party Liability Insurance
Collision Insurance
Personal Accident Cover
Theft and Fire Insurance -
By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheelers
Electric Vehicles -
By Distribution Channel
Direct Sales
Agents and Brokers
Bancassurance
Online Platforms -
By End User
Individual Customers
Commercial Customers -
By Region – Global
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa -
By Country – Selected Markets
China, Japan, India, Australia, South Korea
United States, Canada
United Kingdom, Germany, France
Brazil, Mexico
United Arab Emirates, Saudi Arabia, South Africa
The competitive landscape features leading insurers shaping the market's future. Prominent players include:
Ping An Insurance (Group) Company of China, Ltd.
China Pacific Insurance (Group) Co., Ltd.
China Life Insurance Company
PICC Property and Casualty Company Limited
Taiping Insurance Group Limited
Sunshine Insurance Group Corporation
Anbang Insurance Group Co., Ltd.
China United Insurance Holding Company Limited
Huatai Insurance Group
AXA Tianping Insurance Company Limited
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About the Company
Global Data Route Analytics is a market research and consulting firm that provides businesses with data analysis, market forecasts, and tailored reports across various industries. The company uses advanced data analysis techniques, proprietary data, and an expert team to help clients understand market trends, make informed decisions, and develop strategies. They focus on delivering customized solutions, competitive intelligence, and growth strategies to help businesses succeed in their respective markets.
Media Contact:
Srushti Tungar
Global Data Route Analytics
