This Surety Bond Market research report contains a complete background analysis of the industry, which includes an assessment of the parental market. All the statistical and numerical that have been forecasted in this report is represented with the help of graphs, charts, or tables which makes this report more user-friendly. This Surety Bond Market report contains a thorough description, competitive scenario, wide product portfolio of key vendors, and business strategy adopted by competitors along with their SWOT analysis and porter’s five force analysis. Whether it is about renewing a business plan, preparing a presentation for a key client, or giving recommendations to an executive, this Surety Bond Market report will surely help you to a degree.
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The United States surety bond market accounted for US$ 3641.3 Mn in 2022, and is expected to grow at a CAGR of above 5.8% during the forecast years (2022-2030). Allianz (EULER HERMES), American International Group, Inc., Chubb, Gallagher, HUB International Limited, MARSH LLC, Surety Bonds Professionals and Willis Towers Watson amongst other market participants.
United States Surety Bond Market:
By Surety Type
- Construction, Bid and Performance Bonds
- Advance Payment Bonds
- Maintenance Bonds
- Commercial Surety Bonds
- Contract Surety Bonds
- License and Permit Bonds
- Customs Bonds
- Court Bonds
- Litigation Bonds, including Appeal Bonds
- Specialized Contract Bonds
By Organization Size
- Small and Medium Sized Organizations
- Large Organizations
By End Users
- Domestic Corporations and Multinational Companies
- Marketed through Global, National, Regional or Local Brokers
- Global Multinational Companies with U.S. Bond Needsoil
- Contractors and Managers
- Paving, Sewer and Water and Highway and Bridge
- Technology Companies
- Oil Field Service Firms
- Performance Bonds (Non-Construction or Supply)
- Court Bonds (Judicial and Fiduciary)
- Mining and Material Companies
- Agricultural Processors
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A surety bond is a promise, which is made to be liable for the debt, default or failure of another. A surety bond is a three-party contract by which one party, who is the surety, guarantees the obligations or performance of the second party, who is the principal to the third party. There are two main categories of the surety bonds, which include the contract surety bonds and commercial surety bonds. In the United States, there is continuously growing need for creative insurance products for the surety industry which showcases prosperous opportunity for the growth in the surety bond market in the United States. The initiatives that are being undertaken by the government of United States towards infrastructure development is furthering the adoption of surety bonds, thereby contributing towards the growth of surety bond market. However, lack of professionals with adequate skills in the surety industry of United States has been one of the key restraints in the growth of surety bond market in United States.
The novel corona virus pandemic has resulted in the death of over 2.5 million individuals across the globe. Social distancing measures have been imposed by government bodies across various countries including United States. The rapid spread of the virus has impacted the growth of the United States surety bond market. However, the surety bonds market in United States is regaining traction as the country has now started recovering from the Covid-19 pandemic, which will be bringing new opportunities for surety bond market to grow in the future years.
Key Questions Answered with this Study
1) What makes Surety Bond Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Surety Bond market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Surety Bond in next few years?
8) What is the impact analysis of various factors in the Surety Bond market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Surety Bond Market?
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