Overview

The fast track: Increasing motorcycle numbers have benefited industry growth

IBISWorld’s Motorcycle Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

The Motorcycle Insurance industry has been growing at a strong pace over the past five years. Consumers have taken up motorcycles as high petrol prices over the three years through 2013-14 made the upkeep of cars more expensive. More people have been adopting motorcycles as their main form of transport, which has contributed to the industry's strong growth over the past five years. This trend has been most significant on the east coast of Australia, which has larger populations and more traffic congestion. These conditions have prompted consumers to purchase motorcycles for increased manoeuvrability and ease of parking.

Large insurance companies have capitalised on the growing number of motorcycles...

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What is the Motorcycle Insurance industry?

The Motorcycle Insurance industry is currently in the mature stage of its life cycle. Industry value added, which measures the industry’s contribution to the economy, is forecast to grow at an annualised 0.7% over the 10 years through 2021-22. This represents an underperformance of overall GDP, which is projected to rise at an annualised 2.6% over the same period. This indicates the industry’s contribution to the economy is shrinking.

Despite the number of motorcyclists increasing and demand for insurance products growing, competition is also rising, pushing the industry into a mature phase. However, developments in online and mobile platforms are generating growth as many large insurers partner with aggregator and sales websites to issue insurance. As...

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Products & Brands

Major products in this industry
Comprehensive insurance
Third-party insurance
Compulsory third-party insurance
Examples of brands in this Industry
NRMA Insurance
RACV
SGIC
SGIO
Swann Insurance
Shannons
AAMI
APIA
GIO
InsureMyRide

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Major Markets

Globalisation & Trade

Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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