Global stairlifts and climbing devices market was valued at USD1.7 billion in 2020. It is projected to grow at an 8.9% compound annual growth rate (CAGR), between 2021 and 2028. Due to the increasing number of seniors with disabilities and injuries, the market will experience significant growth. According to the World Health Organization's 2011 World Report on Disability, 15% of the world's population has some kind of disability. These people need mobility aids to help them live independently and less pain. You can get a variety of items like stairlifts, wheelchairs, or climbing canes to help people with limited mobility to move freely and independently.
These devices are simple to use and offer effective mobility solutions. Stairlifts have been a popular choice among the elderly and those with limited mobility in recent years. The stairlift is essentially an engine-controlled wheelchair that rides on rails. These stairlifts are designed to be powered by the 'pinion & Racks' technology, which allows wheelchair-bound people or those with mobility issues to use flights of stairs and steps easily.
COVID-19 continues to make market growth uncertain, which means that momentary demand can be difficult to predict. The market is focusing on the long-term development basics that show the market's accessibility and market recovery. The pandemic will almost certainly mean that the end users won't have the ability to invest sufficient upfront money on stairlifts. Handicare group, a global seller, is taking steps to improve the situation by making crucial changes such as a significant decrease in expense and a lower production limit.
Technological advancements, like outdoor, curved, and wheelchair-incorporated lifts, are expected to boost the market growth. The market will be positively impacted by sellers offering free conveyance to buyers and other financing options. The market will see an increase in accessibility to these machines over the forecast period. This is expected to boost interest.
Many people are aware of the benefits of stairlifts today, which has led to increased demand for this versatile equipment. Step lifts that offer a variety of useful features, such as movable seats and collapsing steps, flip-up rails, battery segregation switches or call stations, speed regulators, safety belts, delicate stop buttons, and speed regulators are now available.
The WHO estimates that 2 billion of the world's population will be 60 years old by 2050. This indicates that stairlifts will be in high demand. This development may be slowed by the increased cost of purchasing and installing stairlifts. A straight stairlift costs around USD 3000 to USD 4000, while bent stairlifts are around USD 15,000 and have extra in-assembled highlights. This is significantly more than the straight model.
Stairlifts dominated the market, accounting for a 57.8% revenue share in 2020. The equipment is easily accessible and can be moved by the elderly and disabled. Seniors are increasingly realizing the benefits of aging in place and looking for products that will allow them to stay independent at home.
These are the ideal solution, and offer many features that can be customized to suit users' needs. It can be installed on any type of staircase, making it easier to use indoors and outdoors. Handicare, for example, offers custom-designed stairlifts that are safe and fit tight.
In 2020, 64.4% of the market was dominated by the homecare segment. This will likely continue to be the case in the future. The ability to move safely and quickly from one location to the next without the assistance of another person is a major factor in the homecare stairlift market.
Hospitals are expected to experience the fastest growth rate at 9.1% during the forecast period. Stairlifts are used to transport patients up and down the hospital. It can be difficult to access the hospital from low mobility entrances or via stairs. The Disability Discrimination Act 2005 (DDA), states that it is essential to have fully functional access systems in any healthcare facility, whether private or public.
North America was the dominant market with 43.9% of the share in 2020. The market is driven by the growing number of people with disabilities and technological advances in North America. A report by the United States Census Bureau from 2018 estimates that the US will have around 1 billion seniors by 2030. This is a significant number, and the demand for stairlifts and climbing devices will increase.
Asia Pacific will experience the fastest rate of growth, 10.2%, over the forecast period. The UN estimates that Asia Pacific hosts almost 60% of the world's estimated 650 million disabled persons. Market growth will also be supported by the presence of established market players in the region.
These companies are expanding their product offerings through vital cooperative drives. They also participate in acquisitions to expand their client base and increase their share of the overall industry. Stannah, for example, launched an online stairlift purchase site in November 2020. The company was able to secure its first sale in just 82 minutes. This marked the introduction of an alternative channel for sales. Harmar Mobility also acquired Pride Mobility's versatility gadget lift item division in December 2019. The following are some of the major players in the global market for stairlifts and climbing devices:
Brooks Stairlifts
Stannah
Handicare Group
Garaventa Lift
Acorn Stairlifts
Platinum Stairlifts
Bruno Independent Living Aids
ThyssenKrupp Elevator Technology
American Elevator
Precision Stairlifts
Up Market Research published a new report titled “Stair Lifts And Climbing Devices Market research report which is segmented by End Use (Hospitals, Homecare), by Device (Stair Climbing Wheelchairs, Stair Lifts), By Players/Companies Acorn Stairlifts, Brooks Stairlifts, Bruno Independent Living Aids, American Elevator, Platinum Stairlifts, ThyssenKrupp Elevator Technology, Garaventa Lift, Handicare Group, Stannah, Precision Stairlifts”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Stair Lifts And Climbing Devices Market Research Report |
By End Use | Hospitals, Homecare |
By Device | Stair Climbing Wheelchairs, Stair Lifts |
By Companies | Acorn Stairlifts, Brooks Stairlifts, Bruno Independent Living Aids, American Elevator, Platinum Stairlifts, ThyssenKrupp Elevator Technology, Garaventa Lift, Handicare Group, Stannah, Precision Stairlifts |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 219 |
Number of Tables & Figures | 154 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Hospitals, Homecare), by Device (Stair Climbing Wheelchairs, Stair Lifts).
Stair Lifts And Climbing Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Stair Lifts And Climbing Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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