Spanish motor insurance market forecast for 2026-2030

According to GlobalData, Spain's motor insurance market is projected to generate turnover of 19.8 billion EUR (21.6 billion USD) by 2030, up from 15 billion EUR (17.4 billion USD) in 2026. This reflects an estimated average annual growth rate of 7.2% over the five-year period.

Growth in the sector is expected to be driven by the digital distribution of products, increasing adoption of pay-per-kilometer insurance in Europe, and the use of AI-assisted underwriting.