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The global Stair lifts market is projected to be valued at USD 1,361.5 million by 2022, growing with a CAGR of 7.0% between 2017 and 2022. The demand for Stair lifts has witnessed a rapid boost globally owing to the rise in geriatric population and increasing number of patients with physical disabilities along with occurrence of accidental injuries.The global Stair lifts market was valued at USD 905.9 million in 2016 and is projected to register a CAGR of 7.0% between 2017 and 2022.
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Key industry insights
• The rapid growth in the geriatric population across the globe is one of the paramount factors driving the demand for Stair lifts.
• Rise in physical ailments, increasing focus on self-dependency among elders, poor elevator facilities in public places and high cost of home lifts have further supplemented the overall Stair lifts industry.
• Advent of wireless technology and tremendous increase in the use of mobile phone based Stair lifts is a key trend in the global Stair lifts market.
• Several smaller medicare facilities which provide only medical consultation services are now preferring Stair lifts as a substitute for traditional lifts due to low cost, more comfort and higher aesthetic value.
• Changing dynamics of the North America medical industry including better & newer products coupled with entry of newer stairlift manufacturers and implementation of several norms & regulations by Lift and Elevator Industry Association have made this region one of the biggest Stair lifts market in the world
• Straight Stair lifts dominated the global Stair lifts market and is expected to continue its dominance over the years to come. Rising demand potential for straight Stair lifts due to less complexity in design and less cost due to the involvement of single rail are some aspects driving this segment.
• Residential application segment is expected to register the fastest growth over the forecast period. Growing geriatric population, development of the home healthcare market, and increasing incidences of accidental injuries are augmenting the demand for Stair lifts owing to its affordability, ease of use and technologically advanced features.
• Several large and established players operate in the global Stair lifts market including Platinum Stair lifts, Harmar Mobility LLC, ThyssenKrupp Accessibility B.V., Acorn Stair lifts Inc., 101 Mobility LLC and MediTek Stair lifts.
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There are various companies distributed across the globe, which are offering different types of Stair lifts for specific applications. Companies such as Stannah Lifts Holdings Ltd., ThyssenKrupp Accessibility BV and MediTek Stair lifts are some of the large-scale global players with a strong presence.
Key segments studied in the report are listed below
Type Overview, 2012 – 2022 (USD Million)
Straight Stair lifts
Curved Stair lifts
Application Overview, 2012 – 2022 (USD Million)
Residential
Medicare Areas
Public Places
Regional Overview, 2012 – 2022 (USD Million)
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
The report has analyzed several players in the market, some of which include
Stannah Lifts Holdings Ltd.
Acorn Stair lifts Inc.
MediTek Stair lifts
101 Mobility, LLC
Handicare Stair lifts B.V.
Others
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Reasons for the study
• The purpose of the study is to provide a broad analysis of the current trends in global Stair lifts market
• Increasing awareness about Stair lifts for the elderly especially in developed countries of North America and Europe is propelling the overall dynamics of the industry. Stair lifts are gaining remarkable traction as a mobility solution to geriatric and physically disabled population. This picture holds true especially in the countries where the market is still relatively untapped and has tremendous growth potential in tandem with the increase in disposable incomes.
• Factors including rising spending abilities, increasing investments to install Stair lifts at public places and rising trend of technologically advanced residential infrastructure has resulted in driving the sales of Stair lifts.
• Considering the regional and country level analysis, several international and local players are focusing on mergers and collaborations which is further driving the awareness and demand for Stair lifts in niche areas.
Few points from Table of Contents:
Chapter 1. Research Methodology
1.1. Research approach
1.2. Scope, definition, and assumptions
1.3. Data sources
Chapter 2. Executive Summary
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. Market drivers
3.2.2. Market restraints
3.2.3. Market opportunities
3.3. Value chain analysis
3.4. Porter’s Five Forces’ analysis
...Continued
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What does the report include?
The report covers:
• Latest trends and dynamics pertaining in the global Stair lifts market.
• Competitive benchmarking and market shares of all the major players operating in the market.
• Analysis of major types and applications of Stair lifts with market size, forecast and growth rates.
• Extensive analysis and qualitative insights for the potential and niche segments in the market.
• The report provides major insights on the strategic analysis of the key companies profiled in the report.
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