Surety Market Size, Share, and Growth Analysis

Global Surety Market

Surety Market By Exposure Type (Contract Surety, Commercial Surety), By Construction Industry (Commercial Construction, Residential Construction), By Surety Underwriting Criteria, By Contract Type, By Region - Industry Forecast 2025-2032


Report ID: SQMIG40P2003 | Region: Global | Published Date: June, 2025
Pages: 197 |Tables: 66 |Figures: 70

Format - word format excel data power point presentation

Surety Market Insights

Global Surety Market size was valued at USD 18.3 billion in 2023 and is poised to grow from USD 19.23 billion in 2024 to USD 28.63 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

The surety landscape is on a gradual upward swing due to more infrastructure projects, more needed risk mitigation in construction, and the increased regulation across industries. As projects see greater complexity and more capital-intensive funding, the financial guarantees for project completion and contractor performance are becoming imperative. Surety bonds ensure completion on delivery of contractual obligations and where required financial liabilities, in the case of default or non-performance. This has built momentum towards project owners and governments increasingly seeking to mandate surety bonds as a requirement of contractors, especially in construction, real estate, and energy.

Also, propelling growth in the market is the increased acceptance of more stringent standards of contractual compliance by government and corporate clients. Governments and corporate clients are establishing standards and regulatory regimes to bolster financial responsibility and accountability, which has resulted in increased awareness and adoption of surety solutions. Additionally, the increasing participation of small and mid-sized enterprises in high-value projects is driving the appetite for surety solutions that provide flexible and scalable requirements. As businesses attempt to reduce their access to financial risks and maintain business continuity, surety bonds are being viewed as a preferred form of protection. The movement to risk transfer mechanisms and financial discipline is positively supporting the outlook of the global surety industry.

How is Artificial Intelligence Advancing Operational Efficiency and Innovation in the Surety Market?

Artificial Intelligence (AI) has rapidly changed the way the global surety market operates, from improving underwriting procedures, project tracking, and monitoring, to better claims handling. AI has automated the process of reviewing contractor financial health, project progress and compliance reports so underwriters can professionally issue bonds faster and more accurately. With operational effectiveness, the bond cycle will have more speed and reduced administrative work. Furthermore, AI tools are being used to track live project data, creating predictive notifications for delays and budget overruns, as well as flagging anomalies that would allow sureties to alert contractors before defaults occur. The ability to predict timelines pulls stronger outputs from bonds and contractors.

In 2025, several global surety providers incorporated AI into their project tracking processes, and used satellite images and IoT connected devices to help evaluate actual construction progress in real time. This not only enhances claims resolution processes, but also is part of the global surety industry trends towards digitalization, and smart infrastructure. With increasing adoption of AI, it will reshape how efficiency, transparency, and innovation are provided in the global surety marketplace.

Market snapshot - 2025-2032

Global Market Size

USD 18.3 billion

Largest Segment

Contract Bonds

Fastest Growth

Commercial Surety Bonds

Growth Rate

5.1% CAGR

Global Surety Market ($ Bn)
Country Share by North America (%)

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Surety Market Segments Analysis

Global Surety Market is segmented by Exposure Type, Construction Industry, Surety Underwriting Criteria, Contract Type and region. Based on Exposure Type, the market is segmented into Contract Surety, Commercial Surety, Fidelity Surety, Judicial Surety and Other Surety. Based on Construction Industry, the market is segmented into Commercial Construction, Residential Construction, Heavy Construction, Infrastructure Construction and Other Construction. Based on Surety Underwriting Criteria, the market is segmented into Financial Strength of the Principal, Experience and Track Record of the Principal, Value of the Project or Contract, Terms and Conditions of the Contract and Other Risk Factors. Based on Contract Type, the market is segmented into Performance Bonds, Payment Bonds, Bid Bonds and Other Contract Bonds. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

How are Diverse Bond Types Shaping the Evolution of the Surety Market?

Contract surety bonds dominate in the global surety market, considering their use in public infrastructure and private built environment projects. Contract surety bonds are critical to the delivery of projects and compliance with performance obligations. This makes them unavoidable when it comes to developing government-backed projects, as well as commercial developments. Contract surety bonds assures that contractors will perform obligations under the project, so obliges do not suffer financial loss and delay. As a result, contract surety bonds are well established as the most important category of surety bonds in mature and developing markets.

Commercial surety bonds are becoming the most rapidly growing segment because of increasing compliance needs across different sectors such as customs, licensing, logistics, and environmental services. In both developed and developing countries businesses are seeking surety bonds as regulatory approval and risk management. The flexibility and wide applicability of the commercial surety bond segment are fueling growth, leading to strong growth in the market globally.

Why are Sector-Specific Requirements Driving Transformation in Surety Market End Use?

In the surety market outlook, the construction sector takes the largest market share, due to global infrastructure development and extensive government programs. Construction companies must obtain surety bonds to fulfill tendering requirements for projects, provide a guarantee of compliance with contracts, and manage compliance of subcontractors. This consistent and growing demand for surety bonds highlights construction's ongoing use of surety bonds to provide financial assurance and accountability.

The energy & utilities end-user segment is the fastest growing, driven by the shift to renewable energy and large-scale grid projects across the globe. Since, completing these capital-intensive projects requires strict performance guarantees and regulatory compliance, capital projects must recognize surety solutions as risk mitigation measures, leading to continued adoption of surety solutions. This trend is enhancing and contributing to overall global surety market growth.

Global Surety Market by Bond Type (%)

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Surety Market Regional Insights

What Competitive Advantages Position North America as a Leader in the Global Surety Market?

North America dominates the global surety market, due to established legal systems, the cost of construction activity, and the regulatory environment. The region is established with a variety of surety all backed by the top players servicing unique bond solutions for a multitude of industries. The U.S. market benefits from high market penetration in construction with robust surety underwriting standards and public infrastructure spending. As such, North America represents the most established and resilient regional outlook for surety providers.

US Surety Market

The U.S. has the dominant share of the North American surety marketplace. This is attributable to a strong focus on contractual integrity, federal bond regulations, and substantial volumes of public-private construction projects. Organizations like the SBA (Small Business Administration) encourage bonding for small business enterprises, and underwriting digitization is advancing efficiency and expanding accessibility in the marketplace. Additionally, compliance obstacles and an economy maintaining stable measurable indicators improve the outlook for growth in the U.S. marketplace.

Canada Surety Market

The surety market is growing rapidly in Canada, due to infrastructure development initiatives and mounting energy and transportation project focus. Among the many drivers upstream, provincial mandates around public procurement and contract bonds are also, enhancing market strategies among surety suppliers. With urban sprawl and government spending continuing, Canada is expected to solidify its North American market position through to 2032.

How do Infrastructure Expansion and Harmonized Policies Fuel Europe’s Surety Market Growth?

For surety bonds, Europe considers a large and strategically evolving marketplace, given pan-European infrastructure investment and development, ongoing EU-backed funding programs, and aligned procurement laws. Countries such as Germany, the UK, and France take the lead in this sizeable market, with a large emphasis on transparency, risk mitigation, and regulatory compliance. Also, a growing number of renewable energy projects, and public-private partnerships support the stronger regional surety market forecast.

France Surety Market

France dominates the European surety market, due to upcoming public infrastructure projects and public housing projects. The increasing number of government incentives aimed at modernizing and staying sustainable in the construction process means we will continue to see the bond product being adopted. Evolving regulations and the move towards digitized insurance environments is increasing the efficiency of the market and allowing access for local, national, and international players to enter the space.

UK Surety Market

The surety market is growing in the UK, riding the wave of increased infrastructure and housing developments. The government's priority on improving transportation networks and social infrastructure results in ongoing surety construction contract opportunities, most often for public contracts. The surety providers in the UK are also providing risk management innovations to suit the more complex project requirements, which supports better structural growth and market resilience.

Germany Surety Market

Germany is a key player in Europe’s surety sector, much in part due to its robust construction sector and strong industrial base. The country’s investments in infrastructure modernization and energy transition projects, coupled with the demand for surety bonds for public works, transportation, energy, etc. are supporting surety growth. Furthermore, due to Germany’s regulatory stability and existing legal context, surety providers are supported by legislation that creates a significant advantage for domestic and international market participants alike.

How is Regulatory Modernization Accelerating Surety Adoption Across Asia-Pacific?

The Asia-Pacific region is one of the fastest growing sectors of the global surety market, driven by increased construction activity, urbanization, and changing regulatory environments. Nations such as China, Japan and Australia are committing significant funding towards public infrastructure and transport corridors. In addition, national and local governments are attempting to increase the level of private sector investment in public, works through secure performance guarantees resulting in higher overall demand in the market and improvements in industry trends.

Japan Surety Market

Japan’s surety market is backed by its well-structured insurance and construction environment where there are specific rules, timing, and quality. Bonds are common in public work, especially to rebuild after natural disasters. Over the past year, the solidification of regulations, along with technology upgrades in the insurance ecosystem, has created up-swell in surety market growth in niche applications, like energy systems and rail systems.

South Korea Surety Market

South Korea's market for surety bonds is growing rapidly, due to a surge in digital construction initiatives and smart city developments. A policy shift towards risk sharing for public-private partnerships is increasing the use of bonds. Also, public policy developments, namely providing small and medium enterprises (SMEs) access to a broad set of financial products, is also increasing the use and acceptance of surety bonds. Furthermore, innovations in regulations and financial technology (fintech) use will create new channels for expansion and to provide coverage.

Global Surety Market By Geography
  • Largest
  • Fastest

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Surety Market Dynamics

Surety Market Drivers

Infrastructure and Construction Boom

  • Surety bonds have grown in importance and use due to a rise in infrastructure development across the globe (public works, housing, energy development, etc.). These surety bonds give clients verification of a contractor's capabilities in completing projects, and performing contract terms, which demonstrates the bonds' clear risk mitigation utility. This growth trend is increasingly relevant for market growth in both emerging and developed economies.

Regulatory Mandates and Government Policies

  • Public projects and procurement contract bonding is being facilitated by developments made by governments requiring bonding. In North America, Europe, and the Asia-Pacific, regulatory regimes exist that require contract bonds for government-funded works at the state level, increasing coverage to contracts and subcontracts across the funding channel. These principles endorse transparency, accountability, and help to mitigate risks of project default.

Surety Market Restraints

Low Awareness Among SMEs

  • Even with expansion, a vast number of small or medium-sized enterprises (SMEs) don't recognize the value, and obligations of Surety bonds. Ignorance, and lack of education and information, around the bonds offered to contractors, standing in the way of bond uptake in developing regions which deters the various sectors' expansion and inhibits risk managed project delivery. Surety bond issuers identify businesses with strong credit.

Stringent Underwriting and Credit Requirements

  • Surety bond issuers identify businesses with strong credit backgrounds, and company history but this can also create barriers to entry for start-ups and smaller firms if a strong financial position isn't established. This reduces the prospect of obtaining issuing capacity, and increase speed to market should the need arise, particularly in volatile or fragmented sectors.

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Surety Market Competitive Landscape

The global surety market is a competitive environment comprised of a mix of multinational insurers, regional players, and niche underwriters serving a diverse array of construction and infrastructure projects and the management of related risks. Major global insurers such as Allianz, AXA, and Chubb and Zurich Insurance have plans to expand their international surety operations to facilitate infrastructure development around the world, and cross-border trade and energy transition initiatives. For example, Allianz and AXA deliver surety solutions to mega-infrastructure and energy projects worldwide, Chubb offers surety solutions for mid-sized contractors and regional developers, and Zurich Insurance can leverage its scale to support cross-border complex project financing and compliance.

The global surety market is seeing more engagement from regional insurers and technology-enabled underwriters. These niche entrants are using data-driven risk models, digital interfaces, and diverse underwriting options to better serve SMEs and innovative markets. This digital transformation has improved operational effectiveness, improved transparency, and created competitive pressure on underwriters to change their offerings to meet the needs of changing projects. Consequently, there is more innovation in the market, product choice, and risk management methods to meet the rapidly changing landscape.

  • Founded in 2019, eBonding is a U.S. fintech startup that is revolutionizing the issuance of surety bonds through an entirely digital approach. By creating a digital platform, eBonding allows contractors and insurers to manage all their bonding transactions in real time. Through automation and digital identity verification, eBonding speeds up and reduces paperwork associated with approvals. The tech enabled process increases underwriting efficiency, lowers costs, and increases access to small-size contractors, contribution to increase market penetration in a fragmented construction industry.
  • Founded in 2021, Suretypal is a European insurtech innovator delivering AI enabled underwriting for both commercial and fidelity surety bonds. Its novel platform uses predictive analytics with open banking data to check creditworthiness of contractors, speeding up the processing time and enhancing the accuracy of the risk assessment. The digital-first approach ensures the company is changing the global surety industry trends and aiding to a more inclusive market for under-represented businesses.

Top Player’s Company Profiles

  • Travelers Bond (USA) 
  • Liberty Mutual Group (USA) 
  • Zurich Insurance Group Ltd. (Switzerland) 
  • CNA Surety Group (USA) 
  • Chubb Limited (Switzerland) 
  • The Hartford Financial Services Group, Inc. (USA) 
  • Arch Capital Group Ltd. (Bermuda) 
  • Great American Insurance Company (USA) 
  • Tokio Marine Holdings, Inc. (Japan) 
  • Markel Group Inc. (USA) 
  • Sompo Holdings, Inc. (Japan) 
  • Old Republic International Corporation (USA) 
  • RLI Corp. (USA) 
  • Berkshire Hathaway Specialty Insurance Company (USA) 
  • Merchants Bonding Company (USA) 
  • Crum & Forster (USA) 
  • Intact Financial Corporation (Canada) 
  • Everest Group, Ltd. (Bermuda) 
  • Allianz Trade (France) 
  • IAT Insurance Group (USA)

Recent Developments in Surety Market

  • In March 2024, Liberty Mutual Surety unveiled a blockchain-based bond issuance platform to help minimize fraud and provide transparency within contract surety transactions. This digital ledger project also contributes to efficiency and ease of verification for contractors and obligees and demonstrates Liberty Mutual’s shift towards digitalizing the surety bond transaction process.
  • In June 2024, Zurich Insurance Group developed a partnership with a major construction technology company to both develop real-time bond tracking capabilities with their new platform, which adds automated notifications on project milestones and potential financial exposures, leading to better risk management. This collaboration was initiated based on the increased demand from infrastructure customers for more progressive, adaptable surety products.
  • In January 2025, Munich Re initiated a sustainability-centric surety bond pilot program in Europe. The surety bonds were designed to support ESG (Environmental, Social, and Governance) goals, which included premium discounts for projects that were meeting sustainability goals included in the project plan. The types of insurance products lead to evolving trends towards sustainable finance and socially responsible underwriting in the global surety industry.

Surety Key Market Trends

Surety Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses data through Primary Exploratory Research and robust Secondary Desk Research.

According to SkyQuest's analysis, the global surety market is growing rapidly, driven by new infrastructure activity, regulatory enforcement, and shifting sustainability perspectives. Businesses and governments are leveraging surety bonds to safeguard completion on projects and mitigate financial exposures from difficult construction, and energy transition projects. The use of digital and artificial intelligence led underwriting solutions continues to increase efficiency, and empower risk assessments, advancing innovations in the market.

Regional markets led by North America, Europe, and Asia Pacific benefit from strong legal frameworks, government mandates on requirements for bonding, and advanced risk management technology. Challenges exist with low awareness on the part of small- and medium-enterprises and high underwriting standards. The competitive landscape combines established insurers, and technology driven new players to continue to innovate and grow.

Report Metric Details
Market size value in 2023 USD 18.3 billion
Market size value in 2032 USD 28.63 billion
Growth Rate 5.1%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Exposure Type
    • Contract Surety
    • Commercial Surety
    • Fidelity Surety
    • Judicial Surety
    • Other Surety
  • Construction Industry
    • Commercial Construction
    • Residential Construction
    • Heavy Construction
    • Infrastructure Construction
    • Other Construction
  • Surety Underwriting Criteria
    • Financial Strength of the Principal
    • Experience and Track Record of the Principal
    • Value of the Project or Contract
    • Terms and Conditions of the Contract
    • Other Risk Factors
  • Contract Type
    • Performance Bonds
    • Payment Bonds
    • Bid Bonds
    • Other Contract Bonds
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Travelers Bond (USA) 
  • Liberty Mutual Group (USA) 
  • Zurich Insurance Group Ltd. (Switzerland) 
  • CNA Surety Group (USA) 
  • Chubb Limited (Switzerland) 
  • The Hartford Financial Services Group, Inc. (USA) 
  • Arch Capital Group Ltd. (Bermuda) 
  • Great American Insurance Company (USA) 
  • Tokio Marine Holdings, Inc. (Japan) 
  • Markel Group Inc. (USA) 
  • Sompo Holdings, Inc. (Japan) 
  • Old Republic International Corporation (USA) 
  • RLI Corp. (USA) 
  • Berkshire Hathaway Specialty Insurance Company (USA) 
  • Merchants Bonding Company (USA) 
  • Crum & Forster (USA) 
  • Intact Financial Corporation (Canada) 
  • Everest Group, Ltd. (Bermuda) 
  • Allianz Trade (France) 
  • IAT Insurance Group (USA)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Surety Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Surety Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Surety Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Surety Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Surety Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Surety Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

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FAQs

Global Surety Market size was valued at USD 17.43 billion in 2023 and poised to grow from USD 18.20 billion in 2024 to USD 25.69 billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).

The global surety market is a competitive environment comprised of a mix of multinational insurers, regional players, and niche underwriters serving a diverse array of construction and infrastructure projects and the management of related risks. Major global insurers such as Allianz, AXA, and Chubb and Zurich Insurance have plans to expand their international surety operations to facilitate infrastructure development around the world, and cross-border trade and energy transition initiatives. For example, Allianz and AXA deliver surety solutions to mega-infrastructure and energy projects worldwide, Chubb offers surety solutions for mid-sized contractors and regional developers, and Zurich Insurance can leverage its scale to support cross-border complex project financing and compliance. 'Liberty Mutual Surety (USA)', 'Travelers Companies, Inc. (USA)', 'Chubb Limited (Switzerland)', 'Zurich Insurance Group (Switzerland)', 'Tokio Marine HCC (Japan)', 'Allianz Trade (Germany)', 'AXA XL (France)', 'Munich Re Group (Germany)', 'CNA Financial Corporation (USA)', 'The Hartford (USA)', 'HCC Surety Group (USA)', 'IFIC Surety Group (USA)', 'Sompo International (Bermuda)', 'The Guarantee Company of North America (Canada)', 'Euler Hermes (France)'

Surety bonds have grown in importance and use due to a rise in infrastructure development across the globe (public works, housing, energy development, etc.). These surety bonds give clients verification of a contractor's capabilities in completing projects, and performing contract terms, which demonstrates the bonds' clear risk mitigation utility. This growth trend is increasingly relevant for market growth in both emerging and developed economies.

Digitalization and Data-Driven Risk Assessment: The worldwide surety market is utilizing digital solutions and advanced data analytics to enhance risk assessment and underwriting. Insurers are assessing live project data, predictive models, and digital documentation to streamline the issuance of bonds and manage claims. This development will improve operational efficiency, enhance decision-making, and enable new pricing models that are more closely aligned to the risk profile of the specific project.

What Competitive Advantages Position North America as a Leader in the Global Surety Market?

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