As per MRFR analysis, the GCC Motorcycle Insurance Market Size was estimated at 2.68 (USD Billion) in 2023. The GCC Motorcycle Insurance Market is expected to grow from 2.79 (USD Billion) in 2024 to 4.83 (USD Billion) by 2035. The GCC Motorcycle Insurance Market CAGR (growth rate) is expected to be around 5.116% during the forecast period (2025 - 2035).
Numerous market factors are causing notable changes in the GCC motorcycle insurance market. A major factor is the rise in motorcycle riders in the area, which is fueled by both the desire for more reasonably priced modes of transportation and a growing interest in motorcycle culture.
Furthermore, more people are thinking about motorcycles as a feasible alternative as a result of urbanization and rising disposable incomes in nations like Saudi Arabia and the United Arab Emirates.
There is a noticeable increase in the use of recreational motorcycles, which further expands the market, as governments in the GCC, especially Saudi Arabia with its Vision 2030 plan, concentrate on diversifying the economy and boosting tourism.
As insurers start to customize their products to fit the unique demands of riders in the area, opportunities in this industry are also growing. As people's knowledge of road safety and insurance advantages increases, new packages that cover off-road and high-performance motorcycles may become available.
Customers in the GCC are increasingly looking for convenient and accessible insurance services, which is supported by the insurance industry's technology advancements and the growth of digital platforms for policy purchases. Recent trends indicate that comprehensive coverage choices, such as personal accident and accessory coverage, are becoming more and more popular.
Additionally, motorcyclists are drawn to digital insurance options that provide convenience in terms of comparison and accessibility as e-commerce expands. This development is a reflection of the GCC's widespread digital transformation, which is being driven by Gen Z and millennial customers who value online services.
The insurance industry will probably adjust to these shifting tastes as the motorbike market expands, guaranteeing a competitive environment that satisfies the changing needs of GCC motorcyclists.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The rising trend of motorcycle ownership in the Gulf Cooperation Council (GCC) countries significantly drives the GCC Motorcycle Insurance Market. Data from regional transportation authorities indicate that motorcycle registrations have seen an increase of over 20% in the last five years, highlighting the growing popularity of motorcycles as a cost-effective and efficient mode of transportation.
Key players such as the Ministry of Interior in the United Arab Emirates and similar organizations in other GCC nations have also launched initiatives to promote motorcycle driving, which has amplified the number of riders.
This increase in motorcycle population directly correlates to higher demand for insurance products tailored for motorcyclists. With the growth in ownership, insurance companies are responding by introducing innovative insurance products to cater to this expanding demographic, making it a critical factor for market growth in the GCC Motorcycle Insurance Market.
Government regulations across GCC nations play a pivotal role in shaping the GCC Motorcycle Insurance Market. Countries such as Saudi Arabia and the United Arab Emirates have implemented mandatory insurance laws that require all motorcycle owners to possess valid insurance before operating their vehicles on public roads.
This legislative push has led to a surge in insurance uptake, with a report indicating that compliance with these regulations has resulted in an insurance penetration rate that topped 65% among motorcycle owners in urban areas.
Furthermore, government authorities have engaged with various insurance providers to streamline the insurance application process, thereby reducing barriers to entry for consumers and fostering growth in the market.
The heightened awareness surrounding road safety and traffic regulations in GCC countries has significantly influenced the GCC Motorcycle Insurance Market. Campaigns led by institutions such as the Qatar Traffic Department and Road Safety UAE have successfully raised public consciousness about the risks associated with motorcycle riding.
Statistics show that the number of fatalities from motorcycle accidents has spurred initiatives to promote safe riding practices, leading to a 30% increase in the demand for insurance policies that cover both liability and comprehensive options.
This critical shift toward prioritizing safety has prompted insurance providers to develop specialized products that cater exclusively to risk-averse riders seeking greater coverage.
The GCC Motorcycle Insurance Market is characterized by a diverse range of insurance types that cater to the unique needs of motorcycle owners in the region. One of the key segments is Liability Insurance, which is essential as it provides coverage for damages caused to a third party in the event of an accident.
Given the increasing number of motorcycles on the roads in the GCC, there has been a rising emphasis on liability coverage, as it helps protect riders from financial losses due to legal claims or medical expenses arising from accidents.
Comprehensive and Collision Insurance is another crucial segment, often sought by motorcycle owners who desire protection against damages to their own bikes, whether from accidents or other unforeseen events. The popularity of this insurance type is bolstered by the growing awareness among consumers regarding vehicular safety and asset protection.
Medical Payments Insurance is also gaining attention, as it provides coverage for medical expenses incurred by the rider and passengers in the event of an accident, irrespective of fault. This type is particularly important in the GCC context, where healthcare costs can be significant, thus alleviating financial burdens associated with medical emergencies.
Theft Insurance addresses a critical concern among motorcycle owners, especially in urban areas where theft rates tend to be higher, making it an attractive option for riders who want to safeguard their investments. By addressing theft specifically, this insurance offers peace of mind to consumers who rely on their motorcycles for daily commuting in bustling cities.
The category termed 'Others' may include specialized products, such as equipment or personal accident coverage, enhancing the overall offerings in the GCC Motorcycle Insurance Market. Understanding the segmentation is paramount, as it reveals consumer preferences and aligns with broader market trends in the region.
The market for motorcycle insurance is evolving, driven by increased motorcycle ownership, urbanization, and a growing emphasis on road safety across the GCC countries. These factors collectively contribute to a dynamic landscape for motorcycle insurance, making it an essential component of the broader GCC insurance industry, which is poised for growth.
The alignment of various insurance types with consumer needs positions the GCC Motorcycle Insurance Market as a vital segment within the regional insurance ecosystem, reflecting the changing dynamics of mobility and asset protection.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Application segment of the GCC Motorcycle Insurance Market plays a vital role in catering to the diverse needs of motorcycle users in the region. It is primarily divided into Personal and Commercial applications, each addressing unique requirements. Personal motorcycle insurance claims a significant share of the market as more individuals seek coverage for their vehicles.
This growth is fueled by increasing motorcycle ownership rates across GCC countries, spurred by urbanization and a soaring demand for economical transportation. In contrast, Commercial motorcycle insurance is essential for businesses that rely on motorcycles for deliveries and services, allowing them to protect their assets and mitigate risks associated with operational disruptions.
The GCC Motorcycle Insurance Market statistics reveal that both segments are pivotal in enhancing customer understanding and adoption of insurance products. Market growth is further supported by favorable regulations promoting motorcycle safety and increasing awareness about the importance of insurance among consumers.
While the Personal segment tends to dominate due to the rising number of individual riders, the Commercial aspect also shows promise as logistics companies adopt motorcycles as a cost-effective and efficient transport solution. Overall, this segmentation illustrates a nuanced market landscape with significant implications for service providers and consumers alike.
The GCC Motorcycle Insurance Market is a highly competitive landscape characterized by a mix of established players and newer entrants, each vying for market share through innovative products, customer-focused services, and competitive pricing strategies.
The market is driven by the increasing popularity of motorcycles across the Gulf Cooperation Council region, fueled by urbanization, a growing youth demographic, and rising disposable incomes. Insurance companies in the GCC are leveraging technology to enhance customer experience and improve operational efficiency.
This environment has prompted firms to invest significantly in customer engagement initiatives and digital platforms, creating a space saturated with various pricing models, coverage options, and tailored services designed to attract a diverse range of motorcycle enthusiasts.
Understanding the strategies employed by key players in this market is critical for stakeholders looking to navigate the competitive landscape effectively.
Oman United Insurance Company stands out in the GCC Motorcycle Insurance Market due to its comprehensive insurance solutions tailored specifically for motorcycle owners. The company has established a strong brand presence in Oman and is recognized for its commitment to customer service excellence and innovative product offerings.
One of its key strengths lies in its ability to customize policies that cater to individual customer needs, providing options that include coverage for theft, damage, and third-party liabilities. Its local expertise combined with a deep understanding of regional customer preferences allows Oman United Insurance Company to forge strong relationships with its clientele.
The company's proactive approach to engaging with customers through educational programs about the importance of motorcycle insurance further enhances its market presence and strengthens its competitive edge.
Gulf Insurance Group is another prominent player in the GCC Motorcycle Insurance Market, distinguished by its comprehensive suite of insurance products that includes motor insurance specifically tailored to motorcycles. The company has cultivated a robust presence across the GCC, leveraging its extensive network and distribution channels to reach a wide audience.
Gulf Insurance Group's strengths stem from its strong financial ratings, well-established reputation, and diversified portfolio that includes various insurance solutions beyond motorcycle coverage, allowing for cross-selling opportunities. The company is known for its customer-oriented policies, offering distinct coverage options that include road assistance, personal accident coverage, and third-party liability.
Mergers and acquisitions have been a part of Gulf Insurance Group's growth strategy, enabling it to enhance its market share and broaden its geographical footprint. The overall emphasis on technological innovation and customer satisfaction positions Gulf Insurance Group as a competitive force within the GCC Motorcycle Insurance Market.
The GCC Motorcycle Insurance Market has seen several notable developments recently. In October 2023, Abu Dhabi National Insurance Company announced enhancements to its motorcycle insurance offerings, including customizable policy features aimed at attracting a younger demographic.
Meanwhile, in September 2023, National General Insurance Company reported a substantial increase in market share due to its competitive premium pricing strategies. In Bahrain, the Bahrain Kuwait Insurance Company introduced a new app for policyholders, allowing for easy access to policy management, which has positively impacted customer satisfaction levels.
Over the past two years, the market has experienced steady growth, with a surge in motorcycle registrations across the region, prompting insurers to innovate their products. In August 2022, Gulf Insurance Group expanded its presence by opening new offices in Kuwait, aiming to better serve its motorcycle insurance clients.
Furthermore, there have been discussions around potential partnerships among companies like Orient Insurance and Qatar Insurance Company to streamline claims processes and improve efficiency. As of recent evaluations, the total market valuation has significantly increased, driven primarily by rising demand for two-wheeled vehicles and changes in consumer preferences.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 2.68 (USD Billion) |
| MARKET SIZE 2024 | 2.79 (USD Billion) |
| MARKET SIZE 2035 | 4.83 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.116% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Oman United Insurance Company, Gulf Insurance Group, Orient Insurance, National General Insurance Company, Abu Dhabi National Insurance Company, Al Wathba National Insurance Company, Bahrain Kuwait Insurance Company, United Insurance Company, Arab Oriental Insurance Company, Islamic Arab Insurance Company, Saudi Arabian Insurance Company, Riyad Bank, Qatar Insurance Company, Emirates Insurance Company |
| SEGMENTS COVERED | Type, Application |
| KEY MARKET OPPORTUNITIES | Rising motorcycle ownership rates, Growing demand for comprehensive coverage, Expanding young urban population, Increased online insurance distribution, Development of specialized insurance products |
| KEY MARKET DYNAMICS | Increasing motorcycle ownership, regulatory compliance demands, rising safety awareness, competition among insurers, technological advancements in policy management |
| COUNTRIES COVERED | GCC |
Frequently Asked Questions (FAQ) :
The GCC Motorcycle Insurance Market is projected to be valued at 2.79 billion USD in 2024.
By 2035, the GCC Motorcycle Insurance Market is expected to reach a valuation of 4.83 billion USD.
The GCC Motorcycle Insurance Market is anticipated to grow at a CAGR of 5.116% from 2025 to 2035.
In 2024, Liability Insurance is expected to dominate the market with a valuation of 0.9 billion USD.
The Comprehensive and Collision Insurance segment is projected to be valued at 2.1 billion USD by 2035.
Major players in the market include Oman United Insurance Company, Gulf Insurance Group, and Abu Dhabi National Insurance Company, among others.
Medical Payments Insurance is anticipated to have a market size of 0.3 billion USD in 2024.
Challenges may include regulatory changes and increasing competition among insurance providers.
The Theft Insurance segment is expected to grow to a value of 0.25 billion USD by 2035.
Growth drivers include increasing motorcycle ownership rates and rising awareness about insurance coverage among riders.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Analyst Explore the profile of garvit vyas, one of our esteemed authors at market research future, and access their expert research contributions in the field of market research and industry analysis
Get in Touch
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
