Surety companies can choose to complete a defaulted project, hire a replacement contractor, or pay financial compensation up to the bond limit. The surety market was valued at US$ 20.26 billion in 2024 and is projected to reach US$ 31.85 billion by 2031; it is expected to register a CAGR of 6.6% during 2025–2031. What is driving the market? Government regulations, rising...