
Home Warranty Services Market size was valued at $7,315.1 Mn in 2020, and is expected to reach $13,611.2 Mn by 2030
market is poised for significant growth in the coming years, driven by increasing consumer awareness, the rising need for home maintenance solutions
WASHINGTON, DE, UNITED STATES, March 19, 2025 /EINPresswire.com/ -- The global home warranty service market was valued at $7,315.1 million in 2020 and is projected to reach $13,611.2 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030. A home warranty is a service agreement that covers the cost of maintaining and repairing home systems and appliances over a specified period. These agreements provide homeowners with financial protection by covering repairs and replacements for essential household systems. Unlike homeownerโs insurance, which covers damages due to natural disasters, home warranties focus specifically on maintenance-related expenses.
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The home warranty service market is primarily driven by the need to protect expensive home systems and appliances, such as HVAC systems, plumbing, electrical systems, refrigerators, dishwashers, ovens, and cooktops. As more homeowners recognize the benefits of home warranties, the market has expanded significantly. The increased awareness in tier 2 and tier 3 cities has further contributed to market growth, as more homeowners are enrolling in warranty plans.
Despite its growth potential, the market faces challenges. Hidden charges during claims processing and stringent service provider terms and conditions act as barriers to widespread adoption. Additionally, the COVID-19 pandemic negatively impacted various industries, including construction, manufacturing, and tourism, which in turn affected the home warranty service sector. The pandemic disrupted supply chains, limited manufacturing activities, and slowed down home sales, leading to a temporary decline in demand for home warranties. However, as industries recover and return to full-scale operations, the home warranty service market is expected to rebound by mid-2022.
Moreover, increasing expenditure on home services in emerging economies such as China, India, and Brazil is expected to create new growth opportunities. As homeownership rates rise and consumers seek ways to protect their investments, the demand for home warranty services is anticipated to grow substantially in these regions.
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The global home warranty service market is segmented based on distribution channel, type, sales channel, application, and region.
๐๐ฒ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ:
Brokers
Agents & Branches
Others
๐๐ฒ ๐๐ฒ๐ฉ๐:
Home Systems
Appliances
๐๐ฒ ๐๐๐ฅ๐๐ฌ ๐๐ก๐๐ง๐ง๐๐ฅ:
Renewals
Home Resale
Direct to Consumer
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง:
Residential
Commercial
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง:
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ @ https://www.alliedmarketresearch.com/purchase-enquiry/A13578
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The brokers segment dominated the market in 2020 in terms of revenue, while the others segment is expected to grow at the highest CAGR. The home systems segment led the market in 2020, but the appliances segment is expected to exhibit the highest growth rate in the coming years. Residential applications contributed the largest revenue share in 2020 and are projected to grow at the fastest pace. In terms of sales channels, renewals generated the highest revenue, while the home resale segment is anticipated to witness the highest growth in the future.
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North America held the largest share of the home warranty service market in 2020, primarily due to high homeownership rates and increased consumer awareness about warranty services. The region's well-established real estate sector and the growing number of aging homes have fueled demand for home warranty services.
Meanwhile, LAMEA is expected to register the highest CAGR during the forecast period. Factors such as increasing disposable income, rising homeownership, and growing awareness of home warranty services in Latin America and the Middle East are contributing to market expansion in this region.
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The home warranty service market is highly competitive, with key players adopting strategies such as product launches, business expansions, and partnerships to gain a competitive edge. Leading market players include:
AFC Home Club
Cinch Home Services, Inc.
First American Home Warranty
FNHW (Fidelity National Home Warranty)
Frontdoor, Inc.
Home Buyers Warranty Corporation
Landmark Home Warranty
Old Republic International Corporation
Oneguard Home Warranties
Transforms SR Brands LLC
These companies focus on enhancing customer service, expanding their service offerings, and entering new geographic markets to strengthen their market presence.
๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
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Comprehensive market analysis, including current trends and future projections.
Insights into key segments and regional markets to identify growth opportunities.
Competitive analysis of top market players and their strategies.
Forecasts and data-driven insights to assist in business decision-making
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