Global Stair Lift Market Likely to Grow at a CAGR of 8% during 2016–2022
Stair Lifts have emerged as major mobility devices for aging population and disabled person. These devices enable them to travel between floors and high-rise buildings effectively. Stair Lift find their major application in residential buildings, hospitals and clinics, and commercial spaces such as shopping malls and offices. The installation type in these places is majorly dependent upon footfalls and also the curvature of stairs and building architecture.
Scope of the Report
The report considers the present scenario of the market and its strategic assessment for the period 2017−2022. It includes a detailed study of market drivers, trends, and restraints. It also profiles leading vendors and other prominent vendors in the market. The report provides the analysis of key segments of the market in terms of following segments:
By Rail Orientation
By User Orientation
- Standing and perched
- Integrated wheelchair platforms
By Installation Type
- Hospitals and clinics
- Latin America
- North America
Stair Lift Market – Market Size and Dynamics
Analysts at Beige Market Intelligence expect that the global stair lift market is likely to grow at a CAGR more than 8% during the forecast period 2016–2022. While mobility scooters, wheelchairs, crutches, and walking aids are the most commonly used equipment for general mobility, wheelchair friendly escalators, elevators, and stair lift are the preferred ones for vertical mobility i.e. for travelling across floor levels. There is a gradual shift in the global personal mobility market driven by an increased adoption of cost-efficient and technology-based products and also supportive government grants that enable the elderly and disable population to be more independent. Increased private investments in healthcare programs and federal welfare schemes are likely to drive the personal mobility equipment and durable medical equipment markets by improving the affordability of sophisticated medicare and enabling better access to the needy.
Seated stair lift, which hosts a provision for comfortable seating for end-users, is the most preferred type, constituting more than 72% of the total market revenue in 2016. The growth of seated stair lift outperforms perched one, which is characterized by safety concerns. However, stair lift with integrated wheelchair platform is growing at a faster pace as it offer better self-control to the user during mobility.
Stairlift Market – Trends, Drivers, and Restraints
Increased emphasis of government and private organizations for productive and active lifestyle for disabled population is one of the emerging trends, which is driving to boost the global stair lift market during the forecast period. The report not only includes the top trends but also provides detailed information about major driving factors and upcoming challenges. Financial assistance for stair lift in home modification and medicaid and private insurance enabling expenditure on stair lifts are among the major growth driving factors of the market.
High purchase, installation and maintenance cost of stair lift, and perceptual barriers deterring the user’s experience are among the restraints included in the report.
Stairlift Market- Geographical Analysis
The report includes market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. The US accounted for the largest market share with 32.51% in 2016, driven by a high incidence of lifestyle diseases, better healthcare and reimbursement infrastructure, and efficient product availability. Europe accounted for over 26.52% of the revenue share in 2016 with the UK, the Netherlands, and Germany being the largest markets. Apart from North America, APAC is expected to grow at a faster rate driven by continually improving healthcare infrastructure and expanding target audience in key economies of India and China.
Stairlift Market- Market Share and Key Vendors
This market research report profiles major companies in the market and provides the competitive landscape of key players. The report covers the entire market outlook regarding the value chain operating in the market. Major players in the market include the following:
- Bruno Independent Living Aids
- ThyssenKrupp AG
Other prominent vendors in the market include Platinum Stairlifts, Harmar, Otolift, MediTek, Savaria, Sugiyasu, DID – Daido, Kumalift, Hiro Lift, Access BDD.
Why Should You Buy The Report?
The report offers reasonable answers to the following questions which help you to understand the in-depth market analysis.
- How the market has been performing and what are the major changes that are likely to affect the market landscape in the coming years?
- What are various factors that can impact the market over the next few years?
- What are major trends and challenges likely to be confronted by the market in the next five years?
- What is the market size and market forecast for each product segment?
- Which region is going to witness the largest market share and what are the factors propelling the market growth in that region?
- Which companies are the key vendors in the market?
- What are the strategies used by the leading vendors, and what are key opportunities to grow?
- Which companies are the emerging vendors in the market?