{"id":165069,"date":"2025-09-24T04:50:07","date_gmt":"2025-09-24T04:50:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/165069\/"},"modified":"2025-09-24T04:50:07","modified_gmt":"2025-09-24T04:50:07","slug":"electric-energy-insurance-market-to-hit-4-97b-by-2029","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/165069\/","title":{"rendered":"Electric energy insurance market to hit $4.97b by 2029"},"content":{"rendered":"<p>Asia-Pacific is forecast to record the fastest growth in the coming years.<\/p>\n<p>The electric <a href=\"https:\/\/insuranceasia.com\/topics\/energy-insurance\" rel=\"nofollow noopener\" target=\"_blank\">energy insurance market<\/a> is set for steady growth, rising from $3.42b in 2024 to $3.70b in 2025, at a compound annual growth rate (CAGR) of 8.1%, according to The Business Research Company.\u00a0<\/p>\n<p>This growth has been driven by greater reliance on power infrastructure, rising equipment breakdowns, demand for risk reduction, tighter regulations on energy reliability, and higher investment in energy assets.<\/p>\n<p>By 2029, the market is projected to reach $4.97b, growing at a CAGR of 7.7%.\u00a0<\/p>\n<p>North America led the market in 2024, whilst Asia-Pacific is forecast to record the fastest growth in the coming years.<\/p>\n<p>Key factors include demand for grid stability, more complex energy supply chains, wider use of smart grids, stricter compliance rules, and stronger awareness of financial risk coverage.\u00a0<\/p>\n<p>Trends shaping the sector include data-driven risk models, climate risk underwriting tools, real-time monitoring, predictive loss prevention, and blockchain-based claims processes.<\/p>\n<p>The expansion of renewable energy is expected to play a major role.\u00a0<\/p>\n<p>According to the International Energy Agency, renewable energy capacity rose 50% in 2023, reaching 507 gigawatts from 338 GW in 2022.\u00a0<\/p>\n<p>Insurance products that cover operational risks, grid interruptions, and equipment failures are helping boost investor confidence in these projects.<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Asia-Pacific is forecast to record the fastest growth in the coming years. The electric energy insurance market is&hellip;\n","protected":false},"author":2,"featured_media":165070,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,171],"class_list":["post-165069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-au","tag-australia","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/165069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=165069"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/165069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/165070"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=165069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=165069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=165069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}