Marine hull insurance market seen reaching $11.39 billion by 2030

By AI, Created 11:46 AM UTC, May 27, 2026, /AGP/ – The Business Research Company projects the marine hull all risks insurance market will grow from $8.42 billion in 2025 to $11.39 billion by 2030, driven by rising maritime trade, vessel risk, and new technology. Europe leads the market now, while Asia-Pacific is expected to post the fastest growth.

Why it matters: - Marine hull all risks insurance protects ships, vessels and machinery from physical loss or damage during navigation or transit. - The forecast points to rising demand for coverage as global shipping expands and maritime operations become more complex. - The market’s growth reflects broader pressure on shipowners to manage repair, replacement and restoration costs when incidents happen at sea.

What happened: - The Business Research Company released a new forecast for the marine hull all risks insurance market on May 28, 2026. - The company estimates the market will rise from $8.42 billion in 2025 to $8.93 billion in 2026. - The forecast puts the market at $11.39 billion by 2030. - The report projects a 6.0% compound annual growth rate in the near term and a 6.3% CAGR over the longer forecast period.

The details: - Rising global shipping activity, more maritime accidents and damages, growing commercial vessel ownership, expanding insurance regulation and new international trade routes helped drive historical growth. - Advanced AI-based risk modeling is expected to support the next phase of market growth. - Internet of Things technology is expected to expand real-time vessel monitoring. - Demand is rising for specialized hull insurance products. - Maritime trade growth in emerging markets is also expected to support demand. - Sustainability pressures and compliance with environmental shipping standards are becoming more important in underwriting and coverage design. - The report says future trends will include more comprehensive marine hull coverage, wider use of risk assessment and loss prevention tools, more insurance analytics tied to maritime operations, better real-time damage reporting and stronger regulatory compliance and safety protocols. - Marine hull all risks policies cover ships, vessels and machinery against accidental and unforeseen losses during navigation or transit. - The coverage is designed to reduce financial losses for shipowners and support operational continuity after incidents. - In July 2024, the United Nations Conference on Trade and Development reported maritime trade reached 12,292 million tons in 2023, up 2.4% from the prior year. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. - Europe is the largest regional market in 2025. - Asia-Pacific is expected to grow the fastest through the forecast period. - The company also said its 2026 reports include market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards, market hotspot infographics and updated graphics and tables. - Download a free sample of the report. - View the full report.

Between the lines: - The forecast suggests insurers are moving from broad marine coverage toward more data-driven and operationally integrated products. - Europe’s current lead and Asia-Pacific’s faster growth point to a market shifting toward trade-heavy regions where vessel activity and risk exposure are increasing. - The emphasis on AI, IoT and analytics indicates a stronger link between insurance pricing, monitoring and loss prevention.

What’s next: - The market is expected to keep expanding through 2030 if maritime trade, vessel counts and technology adoption continue to rise. - Adoption of real-time monitoring and AI-based underwriting should shape product design and claims handling. - Regulatory and environmental compliance pressure is likely to remain a key demand driver for marine hull coverage.