Wheelchair Lift Market in APAC to Worth $429 Million by 2023
Arizton’s recent market research report on the wheelchair lift market identifies BraunAbility, Bruno Independent Living Aids, Cibes Lift Group, Garaventa, Harmar, Ricon, Savaria, and ThyssenKrupp, as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by automotive lift (occupied lifts and unoccupied lifts), by building lift (residential and commercial), by power type (electric and hydraulic), and by geography (APAC, Europe, North America, Latin America, and MEA).
The wheelchair lift market is anticipated to reach values of more than $2.6 billion by 2023 and is projected to grow at a CAGR of approximately 10% during the forecast period.
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The wheelchair lift market is divided into four major segments that consist of automotive lift, building lift, power type, and geography.
APAC to grow at a significant CAGR in the global wheelchair lift market during the forecast period
The wheelchair market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. APAC occupied a considerable market share in 2017 and is estimated to grow at a CAGR of approximately 10% during the forecast period. Rapid urbanization and exponential growth of the automotive, consumer goods and retail, manufacturing, industrial machinery, and construction will drive the growth of the market in this region. The increasing purchasing power and growing preference for differentiated and value-added products will drive the demand for wheelchair lifts in the APAC market. The rise in end-user spending is fueling the demand for high-end products, automobiles, EVs, and HEVs, and other leisure items in the APAC market. The improving economic conditions and increasing investments in the development of healthcare infrastructure in India, Malaysia, and Indonesia will transform the APAC market during the forecast period.
Electrical lifts to grow at the fastest CAGR in the global wheelchair lift market during the forecast period
The power type segment in the wheelchair lift market is classified into hydraulic and electrical. The electrical lifts are the fastest growing segment of the market, at an impressive CAGR of over 10% during the forecast period. Electrical wheelchair lifts are gaining immense traction in residential and commercial buildings in the global market. These electrical lifts are made of lightweight aluminum and have typical features that include seat elevations, reclining chair, and leg elevations. These chairlifts are less expensive than hydraulic lifts, thereby, boosting the demand for these products in the global wheelchair market. These lifts have just one drawback; it cannot operate during power failure or outages as it operates on electricity.
The development of innovative product portfolio with use of innovative technologies will enable leading vendors in the wheelchair lift market to attract new consumers and gain a larger market share.
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Automotive lifts to grow at an impressive CAGR in the global wheelchair lift market during the forecast period
The global wheelchair lift market by end-user is divided into automotive and building sectors. The automotive sector is the fastest growing segment of the market, at a CAGR of approximately 11% during the forecast period. The automotive sector consists of mechanical platforms that are used by individuals with wheelchairs for easy access to the vehicles. The development of proper mechanism is hassle-free and can be customized according to the vehicles of the end-users. Platform lifts are the most commonly used automotive wheelchair lifts and usually found on the public transportation system. The key players with evolving technologies in the automotive sector are BraunAbility, Bruno, Ricon, and Harmar. The development of the industrial and public sector of emerging nations will propel the growth of the automotive lift sector in the global wheelchair lift market during the forecast period.
The other prominent players in the wheelchair lift market are ACA Adaptation Automobile, ACME Home Elevator, Adaptive Engineering Inc., AmeriGlide, AMF-BRUNS, Arealift by Vertico Group, Arrow Lift, Ascension by AGM Container Controls, Les Escalateurs Atlas, Autoadapt, Autochair Ltd, Autolift, BC lift A/S, Bramalea Elevator Ltd., Butler Mobility Products, D.I.D – Daido Kogyo Co., Discount Ramps, Elap Mobility, Extrema SRL, EZ Carrier, EZ-Access, Faboc Due Srl, Federal Elevator Systems Inc., Florlift of New Jersey, Inc., Focaccia Group, Gartec by Aritco Group, Handicaps Inc, Handicare Auto, Handi-Lift HANDYTECH - CARROZZERIA 71, Herkules Liftwerk GmbH, Hidral, HIRO LIFT, Högg Liftsysteme, HURT s.r.o., Inclinator Company of America, Invalifts Ltd, KIRCHHOFF Mobility GmbH & Co. KG, KIVI srl, Kumalift Co. Ltd., Lehner Lifttechnik GmbH, Liftavator Inc., LIFT-U, a Division of Hogan Mfg., Inc., Liftup A/S, Mobilitätsmanufaktur KADOMO, Mobility Networks (Holdings), MPR Lifts, NAMI Lift AB, Newlift Holdings, PARAVAN GmbH, Phoenix Lifting Systems, Precision Lift Industries, Pride Mobility Products Corp, RAM Manufacturing Ltd., Steering Developments, SUGIYASU Symmetry Elevating Solutions, Terry Lifts, TKS Heis AS, , Trilift Mobility, Vimec SRL, and WheelChair Carrier.
The complete overview of the latest market research report on wheelchair lift market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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