DUBLIN, Feb. 6, 2018 /PRNewswire/ --

The "Wheelchair Market - Global Outlook and Forecast 2017-2022" report has been added to ResearchAndMarkets.com's offering.

The global wheelchair lift market is expected to cross $2.3 billion growing impressively at a CAGR 9% during 2016-2022.

Wheelchair lifts have turn out to be great mobility equipment for geriatric and physically disabled population, enabling them to travel between floors and high-rise buildings effectively. They are considered as the best alternative, especially for long distance travels, wherein vehicles need to be customized to accommodate and carry a wheelchair or a mobility scooter.

The demand is also on the rise due to innovation and product development, resulting in a broad range of customized offerings that are not only turning out to be ergonomic in design and installation but also are offering better functionality and safety features at nominal prices. Growing population of adult is also driving the market.

The report provides a holistic view of the global wheelchair lift market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter's Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.

Wheelchair Lift Market: Key Vendor Analysis

The wheelchair lift market can be termed as attractive one on account of the growth prospects it holds. Major vendors in the global market are BraunAbility, Harmar, ThyssenKrupp AG, Savaria, and AAT.

Other vendors include Antano Group, Baronmead, SANO, Hgg, EZ-Access, KSP Italia, Focaccia, Sugiyasu, D.I.D - Daido Kogyo, Kumalift.

Wheelchair Lift Market Dynamics

Inclination of aging and disabled population toward active and independent living is a major driver

Increased emphasis on government and private organizations on productive and active lifestyle for disabled population is one of the emerging trend that is going to drive the market growth. Further, revolutionary shift in automotive designs and rise of electric vehicles, and better knowledge of mobility equipment among disabled and elderly population are among the other latest trends that will shape the market in a positive way.

Among the major growth driving factors are medicaid and private insurance enabling expenditure on wheelchair lifts, funding and incentives for these lifts in vehicular modification, and inclination of aging and disabled population toward active and independent living. The report also includes the upcoming restraints that are going to be a major hindrance to the market growth.

Wheelchair Lift Market: Segmental Overview

Automotive wheelchair lift market to witness the highest market share.

The automotive wheelchair lifts segment is expected to grow at a CAGR of 9.78% during the forecasted period, which is the highest among other end-user segments because of advancement in technology and ever-changing lifestyle that has driven the market for customized vehicles, which employ a proper and hassle-free mechanism for wheelchair lifts. The outside lifts segment has the highest market share and is expected to grow at tremendously during the forecasted period.

Wheelchair Lift Market: Geographical Analysis

North America to be the largest market.

North America is likley to be the largest market followed by Europe. The market ranks ahead of others in terms of innovation and standards in the region, paves well for product development and market structure, wherein the competition is limited, and is often termed to be more because of customer centricity, range, and service and low price.

While the demand for wheelchair lift installation in the European region is propelled by the presence of large elderly population, stringent welfare mandates for elderly and disabled, high disposable incomes, and better availability of wheelchair lift designs and solutions, the same is restrained by high prices and presence of cheaper substitutes such as ramps, portable wheelchairs, crutches, and mobility aids. The wheelchair market in APAC region is also going to witness traction due to the changes supported by government healthcare reforms.

Market Dynamics

Market Growth Enablers

• Medicaid and Private Insurance Enabling Expenditure on Wheelchair Lifts
• Funding and Incentives for Wheelchair Lifts in Vehicular Modification
• Inclination of Aging and Disabled Population toward Active and Independent Living

Market Growth Restraint

• High Purchase, Installation, and Maintenance Cost of Wheelchair Lifts
• Physical and Space Limitations for Small and Medium WAVs
• Perceptual Barriers Deterring User Experience
• Presence of Low Expensive Alternatives Stands Major Challenge for Wheelchair Lifts

Market Opportunities & Trends

• Increased Emphasis on Government and Private Organizations on Productive and Active Lifestyle for Disabled Population
• Revolutionary Shift in Automotive Designs and Rise of Electric Vehicles
• Better Knowledge of Mobility Equipment among Disabled and Elderly Population

Key Topics Covered:

1 Research Methodology

2 Research objectives

3 Research process

4 Report Coverage

5 Report Assumptions & Caveats

6 Market at a Glance

7 Introduction

8 Market Dynamics

9 Global WheelChair Lift Market

10 Wheelchair Lift Market- BY End-User

11 Automotive WheelChair Market Segmentation

12 WheelChair Lift Market - By Geography

13 APAC: Wheelchair Lift Market

14 Europe: Wheelchair Market

15 MEA: Wheelchair Lift Market

16 North America: Wheelchair Lift Market

17 Latin America: Wheelchair Lift Market

18 Competitive Landscape

19 Key Company Profiles

20 Other Prominent Companies

21 Report Summary

22 Appendix

Companies Mentioned

• D.I.D - Daido Kogyo
• Focaccia
• KSP Italia
• EZ-Access
• Hgg
• SANO
• Baronmead
• Antano Group
• AAT
• Kumalift
• Sugiyasu
• Savaria
• Harmar
• ThyssenKrupp AG

For more information about this report visit https://www.researchandmarkets.com/research/4wl8dt/global_wheelchair?w=5

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