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 homeowner’s insurance, which covers damages due to natural disasters, home warranties focus specifically on maintenance-related expenses.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲@ https://www.alliedmarketresearch.com/request-sample/A13578

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

The global home warranty service market is segmented based on distribution channel, type, sales channel, application, and region.

𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

Brokers

Agents & Branches

Others

𝐁𝐲 𝐓𝐲𝐩𝐞:

Home Systems

Appliances

𝐁𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

Renewals

Home Resale

Direct to Consumer

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

Residential

Commercial

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

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)

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠@ https://www.alliedmarketresearch.com/purchase-enquiry/A13578

𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

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.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐟𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬

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

𝐔𝐩𝐝𝐚𝐭𝐞 𝐎𝐧 𝐃𝐞𝐦𝐚𝐧𝐝@ https://www.alliedmarketresearch.com/request-for-customization/A13578

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐋𝐢𝐧𝐤𝐬

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Allied Market Research
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