home warranty services market was valued at $7.3 billion in 2020, and is expected to reach $13.6 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030

PORTLAND, OR, US, August 3, 2022 /EINPresswire.com/ -- The research report contains an in-depth analysis and discussion of important industry trends, market dynamics, market size, and market share estimation. In addition, the report outlines the drivers, restraints, and opportunities of the global Home Warranty Service market which is essential to implement strategies and to gain a sustainable growth during the forecasted period. Moreover, a detailed analysis of Covid-19 impact on the global Home Warranty Service market is also published in the report.

home warranty services market was valued at $7.3 billion in 2020, and is expected to reach $13.6 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030.

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Covid-19 impact:
Manufacturing activities of Home Warranty Service halted due to implementation of stringent lockdown. To prevent the spread of coronavirus, governments across every nation made social distancing compulsory, due to which, market players faced shortage of labor force. Moreover, restrictions in import & export activities led to supply chain disruptions which further resulted to shortage of raw materials. This in turn, created challenges in carrying out manufacturing in full capacity. Also, most of the construction projects were either delayed or cancelled, especially in the initial stage of the pandemic.

Home warranty is a service offered by developers that cover the cost of structural defects in homes caused due to natural calamities or poor construction quality. It further covers repair and replacement costs of appliances such as fans, ACs, and fittings, which come with a furnished flat. When an appliance or system is damaged, the homeowner contacts the home warranty provider. The warranty company usually works in unison with one or more home service providers, such as plumbing or electrical contractors.

The growth of the home warranty service market is majorly driven benefits associated with warranty services such as protection of appliances and home systems in case of damage or breakdown as well as availability of free of cost service or minimal amount payment to servicing firms. In addition, rise in awareness among people to opt for home warranty services to prevent high repairing and maintenance costs of home systems and appliances notably contributes toward the growth of the global market

Key Segments Covered:
• By Distribution Channel
o Brokers
o Agents & Branches
o Others

• By Type
o Home System
o Appliance

• By Application
o Residential
o Commercial

• By Sales Channel
o Renewals
o Home Resale
o Direct to Customer

Competitive Landscape:
• 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

About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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