
Global Direct Property and Casualty Insurance Carrier Market Insights, Size, and Forecast By Policy Type (Standard Policies, Customized Policies, Bundled Policies), By Distribution Channel (Direct Sales, Brokers, Online Platforms, Agents), By Insurance Type (Property Insurance, Casualty Insurance, Liability Insurance, Workers Compensation, Commercial Insurance), By Customer Type (Individuals, Small Businesses, Large Corporations, Government Entities), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Key Companies, Competitive Analysis, Trends, and Projections for 2026-2035
Key Market Insights
Global Direct Property and Casualty Insurance Carrier Market is projected to grow from USD 4950.7 Billion in 2025 to USD 7835.2 Billion by 2035, reflecting a compound annual growth rate of 6.2% from 2026 through 2035. This market encompasses carriers that directly underwrite and distribute property and casualty insurance products to end users, bypassing intermediaries like brokers in many instances. Key drivers propelling this growth include increasing awareness about risk mitigation, particularly for natural disasters and cyber threats, alongside a growing global middle class with rising disposable incomes. Regulatory frameworks mandating certain types of insurance, such as auto insurance, also provide a foundational demand. However, the market faces significant restraints, including intense price competition, the escalating costs of claims due to more frequent and severe weather events, and the challenge of accurately assessing and pricing emerging risks like those associated with artificial intelligence. Nonetheless, opportunities abound in leveraging advanced analytics and artificial intelligence for personalized risk assessment and product development, expanding into underserved markets, and enhancing digital customer engagement. The market is segmented by Insurance Type, Customer Type, Distribution Channel, and Policy Type, with Individuals forming the leading customer segment, highlighting the vast consumer base for personal lines of insurance.
Global Direct Property and Casualty Insurance Carrier Market Value (USD Billion) Analysis, 2025-2035

2025 - 2035
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A crucial trend shaping the direct P&C insurance landscape is the accelerating digital transformation. Carriers are heavily investing in online platforms, mobile applications, and AI powered chatbots to streamline policy purchasing, claims processing, and customer service, thereby enhancing efficiency and customer satisfaction. The rise of embedded insurance, where coverage is seamlessly integrated into the purchase of a product or service, represents another significant trend, expanding market reach and convenience. Additionally, there’s a growing emphasis on preventative measures and value added services, moving beyond traditional claims payouts to actively help policyholders mitigate risks. For instance, some insurers are offering smart home devices or telematics solutions for vehicles to reduce potential losses. The increasing complexity of cyber risks and the need for specialized coverage are also driving innovation in product offerings. Furthermore, the market is seeing a shift towards more flexible, on demand, and usage based insurance models, catering to evolving consumer preferences and the gig economy. This flexibility appeals to a younger demographic seeking customizable options.
North America stands as the dominant region in the global direct P&C insurance carrier market, driven by a mature regulatory environment, high insurance penetration rates, and a robust economy. The region benefits from a well established infrastructure of carriers and an advanced adoption of digital technologies in insurance. Conversely, Asia Pacific is identified as the fastest growing region, propelled by rapid economic development, increasing urbanization, a burgeoning middle class, and a largely untapped insurance market. The region’s growth is further fueled by rising awareness of insurance benefits and favorable government initiatives promoting insurance penetration. Key players such as Farmers Insurance, Allstate, Travelers, Berkshire Hathaway, State Farm, W.R. Berkley, Zurich Insurance Group, American International Group, Chubb, and Progressive are strategically focusing on digital innovation, expanding their product portfolios, and enhancing their geographic presence to capitalize on these growth opportunities. Many are also exploring partnerships with insurtech startups to accelerate technological adoption and offer more innovative solutions, ensuring their competitive edge in this evolving market.
Quick Stats
Market Size (2025):
USD 4950.7 BillionProjected Market Size (2035):
USD 7835.2 BillionLeading Segment:
Individuals (55.2% Share)Dominant Region (2025):
North America (41.2% Share)CAGR (2026-2035):
6.2%
What is Direct Property and Casualty Insurance Carrier?
A Direct Property and Casualty Insurance Carrier is an entity that directly issues insurance policies to individuals and businesses, covering losses to property and from legal liability. It collects premiums from policyholders in exchange for promising to pay out covered claims. This carrier assumes the financial risk of these events occurring, leveraging actuarial science and underwriting to assess and price risk accurately. Their core function involves providing financial protection against unforeseen incidents like natural disasters, accidents, or lawsuits, thereby stabilizing economic activity and offering peace of mind to policyholders by transferring risk from the insured to the insurer.
What are the Trends in Global Direct Property and Casualty Insurance Carrier Market
AI Driven Underwriting Transformation
Embedded Insurance Ecosystems Thrive
Parametric Solutions for Climate Risks
Cyber Resilience a Core Offering
AI Driven Underwriting Transformation
AI is revolutionizing underwriting by enhancing risk assessment accuracy and speed. Carriers leverage machine learning to analyze vast datasets, including satellite imagery and IoT, for precise property valuations and real time casualty prediction. This automation streamlines processes, reduces human error, and personalizes pricing, leading to more efficient operations and improved profitability across the global P&C sector.
Embedded Insurance Ecosystems Thrive
Insurers are seamlessly integrating protection into various transactions, creating extensive embedded ecosystems. Customers acquire insurance effortlessly when buying products or services, from vehicles to travel. This shift offers personalized, contextualized coverage at point of sale, enhancing convenience and expanding distribution channels beyond traditional agents. Data driven insights further refine offerings.
Parametric Solutions for Climate Risks
Insurers increasingly adopt parametric solutions to address climate risks. These trigger-based products provide rapid payouts based on predefined weather events like hurricane wind speeds or rainfall totals, rather than actual losses. This approach simplifies claims processing, reduces basis risk for complex climate phenomena, and offers more transparent, quicker financial relief to policyholders facing climate related property damage and other financial impacts. It represents a shift towards proactive risk transfer for difficult to model climate events.
Cyber Resilience a Core Offering
Insurers now treat cyber resilience as fundamental, moving beyond simple breach coverage. They offer proactive risk assessments, incident response planning, and recovery services to minimize client exposure. This shift helps clients strengthen their defenses and recover faster from cyberattacks, reflecting a growing industry recognition of cyber threats as a primary business risk demanding comprehensive protection and continuous improvement in security posture.
What are the Key Drivers Shaping the Global Direct Property and Casualty Insurance Carrier Market
Digital Transformation & Innovation in Product Delivery
Escalating Global Risk Landscape & Demand for Specialized Coverage
Strategic M&A and Market Consolidation for Scale & Efficiency
Regulatory Evolution and Compliance Burden
Digital Transformation & Innovation in Product Delivery
Insurers are adopting digital technologies and innovative approaches to enhance product design delivery and customer experience. This involves leveraging advanced analytics artificial intelligence and automation to streamline operations personalize offerings and accelerate claims processing creating more agile and efficient insurance solutions for a competitive global market.
Escalating Global Risk Landscape & Demand for Specialized Coverage
A more complex world, marked by climate change, cyber threats, and geopolitical instability, is increasing the frequency and severity of losses. This heightened risk environment elevates client demand for sophisticated and tailored insurance solutions. Carriers must innovate their offerings and risk assessment capabilities to meet the growing need for specialized protection against evolving global threats. This trend drives market expansion and demand for carriers with advanced expertise.
Strategic M&A and Market Consolidation for Scale & Efficiency
Insurers acquire rivals to gain economies of scale improve operational efficiency and expand market share. This consolidation strategy allows them to leverage technology platforms optimize distribution networks and reduce per policy costs leading to greater profitability and a stronger competitive position within the evolving global market.
Regulatory Evolution and Compliance Burden
Insurers face escalating costs adapting to continually changing global and local regulations. New mandates regarding data privacy, climate risk reporting, and consumer protection require significant investments in technology, legal expertise, and operational adjustments. This dynamic regulatory landscape increases compliance complexity and operational overhead, impacting profitability and requiring continuous resource allocation to maintain adherence across diverse jurisdictions, driving strategic shifts and technological adoption.
Global Direct Property and Casualty Insurance Carrier Market Restraints
Geopolitical Instability and Sanctions Impact on Global Property & Casualty Underwriting Profitability
Geopolitical instability and sanctions significantly constrain global property and casualty underwriting profitability. War, civil unrest, and international trade restrictions increase claims frequency and severity across property, marine, aviation, political risk, and cyber lines. Supply chain disruptions inflate repair costs and hinder claims settlement. Sanctions limit market access, restrict capital flows, and complicate risk assessment and premium collection. This volatile environment introduces considerable uncertainty, making accurate pricing and reserving challenging for carriers and impacting their financial performance.
Intensified Regulatory Scrutiny and Capital Requirements for Systemically Important Insurers
Systemically Important Insurers face heightened regulatory oversight, increasing compliance burdens and operational costs. Regulators demand more stringent capital reserves, impacting profitability and growth strategies. This necessitates greater risk management sophistication and substantial investment in technology and personnel. The intensified scrutiny restricts market agility and innovation, particularly for larger, interconnected carriers. Smaller players also face pressure to adapt to potential trickle down effects from these stricter standards.
Global Direct Property and Casualty Insurance Carrier Market Opportunities
Accelerating Digital Transformation for Hyper-Personalized P&C Customer Journeys
Direct P&C insurers can seize immense growth by rapidly embracing digital transformation. This enables the creation of hyper-personalized customer journeys, from initial quote to claims settlement. Leveraging advanced analytics and AI, carriers can tailor offerings, communications, and services to individual needs, significantly enhancing satisfaction and loyalty. This strategic shift streamlines operations, fosters deeper customer relationships, and unlocks new revenue streams globally, particularly in fast evolving markets. It is crucial for competitive differentiation and sustainable expansion, making insurance more relevant and responsive.
Monetizing Emerging Climate and Cyber Risks with Adaptive P&C Solutions
Global P&C carriers can monetize increasing climate related and evolving cyber risks by offering adaptive property and casualty solutions. This involves developing innovative products that accurately assess, price, and underwrite these complex threats. Such solutions enable profitable expansion into underserved segments and new risk categories. Leveraging advanced data analytics and artificial intelligence is crucial for effective risk modeling and dynamic coverage. The fastest growing Asia Pacific region presents a significant market for deploying these tailored insurance solutions, transforming global vulnerabilities into substantial growth opportunities for responsive carriers.
Global Direct Property and Casualty Insurance Carrier Market Segmentation Analysis
Key Market Segments
By Insurance Type
- •Property Insurance
- •Casualty Insurance
- •Liability Insurance
- •Workers Compensation
- •Commercial Insurance
By Customer Type
- •Individuals
- •Small Businesses
- •Large Corporations
- •Government Entities
By Distribution Channel
- •Direct Sales
- •Brokers
- •Online Platforms
- •Agents
By Policy Type
- •Standard Policies
- •Customized Policies
- •Bundled Policies
Segment Share By Insurance Type
Share, By Insurance Type, 2025 (%)
- Property Insurance
- Casualty Insurance
- Liability Insurance
- Workers Compensation
- Commercial Insurance

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Why is the Individuals segment dominating the Global Direct Property and Casualty Insurance Carrier Market?
The Individuals segment holds the largest share due to the widespread need for personal protection. Consumers globally require direct coverage for homes, vehicles, and personal liability, making it a fundamental and high-volume demand driver for property and casualty insurers. The sheer number of individual policyholders ensures its continued prominence in the market.
How does Property Insurance influence the Global Direct Property and Casualty Insurance Carrier Market?
Property Insurance is a cornerstone of the market, offering essential protection against damage or loss to real estate and personal belongings. Direct carriers effectively cater to this demand by providing accessible policies for homeowners and renters, simplifying the purchasing process for crucial coverage without relying on intermediaries. This direct approach often builds stronger customer relationships.
What role do Online Platforms play in the distribution of Direct Property and Casualty Insurance?
Online Platforms are increasingly vital as a distribution channel, offering convenience and accessibility for customers seeking direct property and casualty insurance. These platforms enable insurers to reach a broader audience, provide instant quotes, and facilitate policy purchases efficiently. They empower customers with self-service options, reducing operational costs for carriers and enhancing market penetration.
What Regulatory and Policy Factors Shape the Global Direct Property and Casualty Insurance Carrier Market
The global direct property and casualty insurance market operates within a dynamic, fragmented regulatory landscape. Solvency and capital requirements, often influenced by international standards like Solvency II principles, remain foundational. Regulators worldwide intensify focus on consumer protection, mandating transparency, fair claims practices, and robust data privacy frameworks such as GDPR inspired legislation. Emerging risks like climate change and cyber threats are driving new disclosure requirements and product oversight. Anti money laundering and counter terrorist financing compliance are stringent. Innovation, particularly Insurtech, prompts demand for regulatory sandboxes and adaptable rules for AI ethics and new business models, ensuring market stability while fostering growth.
What New Technologies are Shaping Global Direct Property and Casualty Insurance Carrier Market?
AI and machine learning are revolutionizing underwriting accuracy and claims efficiency. Internet of Things devices and telematics offer personalized risk assessment and preventive services, reducing payouts. Blockchain technology enhances transparency in transactions and automates smart contracts, combating fraud effectively. Predictive analytics improves catastrophe modeling and pricing strategies. Parametric insurance gains traction for quick trigger based payouts. Cloud platforms support scalable operations while cyber solutions protect sensitive data. These innovations drive operational optimization, elevate customer experience, and foster new product development. Carriers leverage these advancements to adapt to evolving risks and capitalize on substantial market expansion opportunities. Emerging tech reshapes product delivery and risk management.
Global Direct Property and Casualty Insurance Carrier Market Regional Analysis
Global Direct Property and Casualty Insurance Carrier Market
Trends, by Region

North America Market
Revenue Share, 2025
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North America dominates the global Direct Property and Casualty Insurance Carrier market, holding a substantial 41.2% share. The region, particularly the United States, benefits from a mature insurance market, robust regulatory frameworks, and high consumer awareness regarding risk management. Factors driving growth include a strong economy, increasing frequency of natural disasters necessitating comprehensive coverage, and technological advancements in data analytics and claims processing. This competitive landscape sees both established giants and innovative insurtechs vying for market share, consistently driving product development and service improvements to meet evolving customer demands across personal and commercial lines.
Western Europe dominates with mature markets, high penetration, and strong regulatory frameworks in countries like Germany, France, and the UK. Southern Europe, including Italy and Spain, shows moderate growth, recovering from economic challenges, with a focus on life insurance products. Eastern Europe exhibits higher growth potential due to lower penetration rates, economic development, and increasing demand for specialized products, particularly in Poland and the Czech Republic. The Nordics are characterized by highly digitalized markets and innovative product offerings. Regulatory shifts and climate change impacts are key drivers across all regions, influencing product development and risk assessment in the European direct P&C insurance market.
The Asia Pacific Direct Property and Casualty Insurance Carrier market is experiencing robust expansion, driven by rapid economic growth and increasing insurance penetration. This region exhibits the highest growth globally, with a remarkable 9.2% CAGR. Emerging economies like China and India are key contributors, witnessing escalating demand for P&C insurance products due to urbanization, infrastructure development, and a growing middle class. Furthermore, heightened awareness regarding natural disasters and cyber risks is propelling market expansion. Regulatory reforms and digital innovation are also playing pivotal roles in shaping the competitive landscape and fostering new opportunities across the Asia Pacific insurance sector.
Latin America's P&C insurance market shows varied regional growth. Mexico exhibits a competitive landscape with significant foreign direct investment, driven by automotive and natural catastrophe coverage. Brazil, the largest market, is expanding in property and liability, though regulatory shifts influence carrier strategies. The Andean region (Colombia, Peru, Chile) demonstrates consistent growth, fueled by infrastructure projects and increasing personal line penetration. Central America and the Caribbean, while smaller, are seeing a rise in specialized lines, particularly tourism-related and climate-risk insurance. Overall, digitization and adapting to diverse regulatory frameworks are key for carriers across the continent.
The Middle East and Africa (MEA) region exhibits diverse trends in the direct property and casualty insurance market. Gulf Cooperation Council (GCC) countries are experiencing growth driven by infrastructure projects and increasing regulatory focus on mandatory coverages like health and motor. However, political instability and economic volatility in other parts of the region, particularly North Africa and Sub-Saharan Africa, can hinder market development. High natural catastrophe exposure, especially in coastal areas and drought-prone regions, significantly impacts property insurance lines. Digitalization and Takaful insurance are emerging growth drivers across the MEA, catering to evolving customer preferences and religious compliance. Intensifying competition is leading to price pressures.
Top Countries Overview
The US dominates global direct property and casualty insurance, hosting major carriers and a robust domestic market. Its carriers significantly influence international reinsurance and specialty lines. Regulatory frameworks and a strong economy underpin its prominent position in the global insurance landscape.
China's property and casualty insurance market is the second largest globally, dominated by state owned carriers. Rapid growth is fueled by economic development and urbanization. While domestic players lead, foreign carriers face regulatory hurdles and intense competition, limiting their significant market share but offering specialized expertise.
India is a high growth market attracting global property and casualty insurers. Foreign direct investment is increasing, driven by economic expansion and rising insurance penetration. Regulatory reforms are fostering market development. Global carriers are leveraging local partnerships to expand reach and offer specialized products, enhancing competition and innovation.
Impact of Geopolitical and Macroeconomic Factors
Geopolitical instability drives increased demand for specialty P&C lines like political risk and cyber insurance as businesses navigate evolving global threats. Regulatory divergence across jurisdictions poses compliance challenges and opportunities for market entry, influencing carrier profitability and risk management strategies. Trade tensions impact supply chains, indirectly raising demand for cargo and business interruption coverage, while climate change necessitates new insurance products for disaster recovery and resilience.
Inflationary pressures elevate claims costs for property and casualty insurers, impacting profitability if not adequately factored into premium adjustments. Rising interest rates may improve investment income but also increase the cost of capital, affecting strategic expansion. Economic downturns could reduce premium growth as businesses cut discretionary spending, while robust growth spurs demand across various commercial lines.
Recent Developments
- March 2025
Chubb completed its acquisition of Cigna's international personal accident, supplemental health, and life insurance businesses. This strategic move significantly expands Chubb's global presence and product offerings in emerging markets, particularly in Asia.
- February 2025
Progressive launched 'Snapshot for Commercial Fleets,' an AI-powered telematics program tailored for small and medium-sized business vehicle fleets. This product aims to provide customized premium discounts and risk management insights based on real-time driving data, enhancing safety and cost-efficiency for businesses.
- January 2025
Travelers announced a new partnership with a leading climate analytics firm to develop advanced parametric insurance solutions for severe weather events. This collaboration will offer businesses more immediate payouts triggered by pre-defined weather thresholds, streamlining the claims process and improving resilience.
- December 2024
Zurich Insurance Group initiated a strategic initiative focused on integrating generative AI across its claims processing and customer service operations. This aims to significantly reduce claim cycle times, improve accuracy, and provide more personalized customer interactions globally.
- November 2024
Allstate introduced 'Digital Home Shield,' an integrated smart home insurance product combining IoT device monitoring with preventive maintenance advice and rapid response services. This offering targets the growing demand for proactive risk mitigation and enhanced property protection for homeowners.
Key Players Analysis
Farmers Allstate and State Farm dominate the direct personal lines sector leveraging advanced telematics and personalized digital platforms to drive market growth. Progressive excels in technology driven pricing and customer acquisition while Berkshire Hathaway through GEICO emphasizes efficient digital marketing and low operating costs. Travelers and Chubb focus on specialized commercial property and casualty solutions utilizing data analytics for risk assessment and tailored offerings. Zurich and AIG contribute global reach and diverse product portfolios. W.R. Berkley thrives in niche markets with strong underwriting expertise and regional specialization. These carriers continuously invest in AI machine learning and automation to enhance customer experience streamline operations and improve underwriting accuracy propelling overall market expansion.
List of Key Companies:
- Farmers Insurance
- Allstate
- Travelers
- Berkshire Hathaway
- State Farm
- W.R. Berkley
- Zurich Insurance Group
- American International Group
- Chubb
- Progressive
- Munich Re
- The Hartford
- AXA
- Liberty Mutual
- Nationwide
Report Scope and Segmentation
| Report Component | Description |
|---|---|
| Market Size (2025) | USD 4950.7 Billion |
| Forecast Value (2035) | USD 7835.2 Billion |
| CAGR (2026-2035) | 6.2% |
| Base Year | 2025 |
| Historical Period | 2020-2025 |
| Forecast Period | 2026-2035 |
| Segments Covered |
|
| Regional Analysis |
|
Table of Contents:
List of Figures
List of Tables
Table 1: Global Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 2: Global Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 3: Global Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 4: Global Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 5: Global Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Region, 2020-2035
Table 6: North America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 7: North America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 8: North America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 9: North America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 10: North America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Country, 2020-2035
Table 11: Europe Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 12: Europe Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 13: Europe Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 14: Europe Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 15: Europe Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 16: Asia Pacific Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 17: Asia Pacific Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 18: Asia Pacific Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 19: Asia Pacific Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 20: Asia Pacific Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 21: Latin America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 22: Latin America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 23: Latin America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 24: Latin America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 25: Latin America Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 26: Middle East & Africa Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Insurance Type, 2020-2035
Table 27: Middle East & Africa Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Customer Type, 2020-2035
Table 28: Middle East & Africa Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Distribution Channel, 2020-2035
Table 29: Middle East & Africa Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Policy Type, 2020-2035
Table 30: Middle East & Africa Direct Property and Casualty Insurance Carrier Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
