The global construction project insurance market is set to grow from $7.91 billion in 2024 to $8.38 billion in 2025, according to The Business Research Company. This represents a compound annual growth rate (CAGR) of 6%.
The market expansion is being driven by increased construction activity, urbanization, higher infrastructure investments, growing housing demand, and the wider adoption of compulsory insurance coverage.
Looking ahead, the market is expected to continue its upward trajectory, reaching $10.42 billion by 2029, with a 5.6% CAGR.
Key drivers of this growth include the push for sustainable construction, better risk management practices, environmental concerns, expanding transportation networks, and supportive government policies.
Emerging trends in the sector are also contributing to this growth. Digital platforms, AI-powered risk assessment tools, blockchain applications, and Internet of Things (IoT) sensors are all being integrated into construction projects to enhance project monitoring and underwriting processes.
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