Stairlift Market By Product Type (Straight Stairlift, Curved Stairlift) By Application (Residential Area, Healthcare Area, Public Place) and Region - Global Forecast to 2026
13 April 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global stairlift market is estimated to value US$ 1.2 Bn in 2017 and is projected to register a CAGR of 6.2% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global stairlift market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report includes PEST analysis, Porter’s Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The report offers insightful and detailed information regarding the various key players operating in the global stairlift market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global stairlift market is segmented on the basis of product type, application, and region.
Stairlifts are basically mobility devices mainly used by disabled and aging people for vertical mobility. These devices help people to travel between floors and high-rise buildings efficiently. Stairlifts used in applications such as in residential buildings, hospitals and clinics, educational institutes, restaurants, and commercial or public spaces such as shopping malls, and offices.
Global Stairlift Market Dynamics:
Increasing aging population and increasing incidence of lifestyle diseases such as obesity and large tracts of age groups reporting osteoarthritis are major factors expected to drive growth of the global starilift market over the forecast period. In addition, rising technological advancements for developing products offering better functionality and advanced safety features is expected to fuel growth of the target market.
However, high installation as well as equipment cost is a key factor expected to restrain growth of the global stairlift market. In addition, country/region wise changing residential structure is another factor expected to hamper growth of the target market in the near future.
Analysis by Product Type:
Among all product type segments, the straight stairlift product type segment in the global stairlift market is expected to register highest share in the target market and is expected to register CAGR of over 6% over the forecast period, owing to its easy installation and comfort.
Analysis by Application:
Among all the application segments, the residential area application segment is projected to register highest CAGR of over 6% and is expected to continue its dominance over the forecast period, owing to increasing inclination of aging and disabled population towards active and independent living.
Analysis by Region:
The market in Europe is expected to account for highest share in terms of revenue in the global stairlift market, expanding at a CAGR over 6% from 2017 to 2026. Increasing demand for multi-functional stairlifts and presence of prominent manufacturers with strong domestic presence in various countries in the region are major factors expected to drive growth of the Europe stairlift market. In addition, manufacturers operating in the Europe market are introducing new and innovative stairlifts that include additional features such as swivel seats, emergency stop buttons, etc., is another factor expected to fuel growth of the stairlift market in Europe. For example, ‘Home Healthsmith’ introduced a powered swivel and optional powered footplate stairlift, that can fold itself away and park itself at a charging point when it is not in use or has finished its task.
Furthermore, increasing presence of prominent international players in the target market such as Handicare, Otolift international, Stannah Lifts Holdings Ltd., coupled with presence of several domestic companies providing stairlift in countries in the region are major factors expected to boost growth of the Europe stairlift market over the forecast period.
The market in North America is expected to account for second-highest share in the target market over the forecast period, owing to increasing incidence of fall injuries in the US, especially among older individuals (aged 65 years and above) is a major factor driving adoption of stairlifts in the country, which in turn is boosting growth of the North America stairlift market. In addition, growing investments by major players in the target market resulting in developments in stairlift equipment, coupled with rising awareness about stairlifts among patients with disabilities or less mobility are other major factors expected to fuel growth of the North America stairlift market over the forecast period.
Furthermore, increasing initiatives by governments in countries in the region for spreading awareness about home and recreational safety, comparatively quicker premarket approvals, and subsidies provided in the form of medical expense tax deduction for people with disabilities and senior citizens who need stairlifts for better mobility are other factors anticipated to support growth of the North America market in the near future.
Moreover, significant presence of prominent international players in the market such as Acorn Stairlifts Inc., Bruno Independent Living Aids, Inc., Harmar Mobility, LLC, and Savaria Corp., coupled with increasing presence of domestic stairlift providers in countries in the region are major factors anticipated to further fuel growth of the North America stairlift market.
The market in Asia Pacific accounted for revenue share over 15% in the global stairlift market in 2016. The Asia Pacific market is projected to register a CAGR over 6% over the forecast period (2017–2026).
Presence of high number of domestic manufacturers of stairlifts coupled with wide distribution networks in several developed and developing economies across the Asia Pacific region is a key factor expected to drive growth of the Asia Pacific stairlift market. In addition, growing awareness about stairlifts among the geriatric population, coupled with increasing aging population in emerging economies such as China, Japan, and India are major factors expected to support growth of the Asia Pacific stairlift market in the near future.
According to a report published by the International Longevity Center (ILC) Japan – a member of the ILC Global Alliance aimed at helping address longevity and population aging by conducting international and interdisciplinary surveys – it is projected that one in every three persons will be 65 years old or over by 2050.
According to Institute for Social and Economic Change, the proportion of population aged 60 years and above was 7% in 2009 (88 million) and is projected to increase to 20% (315 million) by 2050.
Furthermore, recent advancements in stairlifts by prominent players in the market, and increasing government initiatives for spreading awareness about easy mobility and safety for senior citizens in countries in the region are other factors anticipated to fuel growth of the Asia Pacific stairlift market to a significant extent over the forecast period. Moreover, increasing presence of prominent players in the region and increasing number of domestic stairlift providers are major factors anticipated to fuel growth of the Asia Pacific stairlift market over the forecast period.
Global stairlift market segmentation:
Segmentation by product type:
- Straight Stairlift
- Curved Stairlift
Segmentation by application:
- Residential Area
- Healthcare Area
- Public Place
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Acorn Stairlifts Inc.
- Handicare AB
- Stannah Lifts Holdings Ltd.
- Bruno Independent Living Aids, Inc.
- Otolift Stairlifts
- Harmar Mobility LLC
- thyssenkrupp AG
- Platinum Stairlifts Ltd.
- Meditek, Cremer Lifts Ltd.
- Savaria Corp.
- SUGIYASU Corporation
- Taicang Kanghui Technology Development Co. Ltd. - JIU YAN YANG
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Product Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region
- 2.2.4 Prudour Opportunity Map Analysis
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