Travel Insurance Market Expected to reach US$ 40,067.4 Mn by 2025, expanding at a CAGR of 9.9% from 2017 to 2025.

Nowadays travel has become a key part of academics, businesses, and personal life, exposing people to travel related contingencies. In order to mitigate the risks associated, it’s always a better option to buy a travel insurance plan. Travel insurance offers insurance protection while you travel. It is important to understand whether the policy covers domestic travel or overseas travel or both. Travel insurances helps in protecting families and individuals against travel related accidents, unexpected medical expenditure during travel, losses such as baggage loss, loss of passport, etc. and also interruption or delays in flights or delayed arrival of baggage etc. The global market is at a growing stage and is an extremely attractive market thereby supporting the increase in the tourism growth levels and the business travels during the forecast period. In terms of revenue,

Global Travel Insurance Market was valued at US$ 17,530.5 Mn in 2016 and is expected to reach US$ 40,067.4 Mn by 2025, expanding at a CAGR of 9.9% from 2017 to 2025.

The Global Travel Insurance Market is enhanced by factors such as:

• Growing tourist traffic.

• Rise in globalization.

• Increased incidences of loss of luggage.

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Based on distribution channel segmentation, in 2015, traditional channel encompassing insurance intermediaries consisting of tour operators and travel agents accounted for around half of the overall sale of travel insurance policies and is projected to lead the market throughout the prognosis period. Insurance aggregators is anticipated to be the fastest growing channel owing to the widening usage of internet worldwide.

On the basis of end-user segmentation, senior citizens offer immense opportunity for travel insurance companies as they have been identified as the major buyers of long-duration travel insurance policies. Leisure and medical treatment are key reasons for senior citizens to travel. After working diligently for decades, the Gen S individuals seek to travel and explore exotic locations and cherish these experiences forever.

Among trip type, the single trip travel insurance policy dominated the market in the previous years, accounting for around 71% of the overall market revenue owing to increase in popularity and affordability of constant city breaks, upsurge in family travelers, shopping trips abroad, and winter sun holidays. Further, the annual multi trip travel insurance policies are expected to be the fastest growing policy type during the forecast period.

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Geographically, all Asia-Pacific economies would see a significant increase in the number of older people and this trend would be particularly observed in Singapore, China, and Korea. The over 50s, and more precisely the over 65s, shall account for an increasingly significant portion of leisure travelers predominantly in Australia and Japan, where over 65s now account for over 20% of all leisure travelers.

Some of the leading players operating in the Global Travel Insurance Market include CSA Travel Protection, USI Affinity, Seven Corners Inc., Travel Safe, MH Ross, Allianz Global Assistance, Travel Insured International, AIG Travel, and InsureandGo.

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

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