DUBLIN--(BUSINESS WIRE)--The "Wheelchair Lift Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global wheelchair lift market is expected to generate revenues of around $2.6 billion by 2023 and is anticipated to grow at a CAGR of approximately 10% during the forecast period.
The dynamic governmental policies and the effect of these regulations on various vital retail sectors, including healthcare, travel, and consumables will propel the growth of the global wheelchair lift market. The development of innovative product offerings that meet the basic mobility requirements that enable the elderly and differently abled individuals to travel or cover short distances in wheelchairs, crutches, and mobility scooters will transform the global market.
Various end-users in the market are looking for mobility-friendly options in public transportation, private vehicles, stairs, and escalators. Leading vendors are developing stair lifts especially for long distance travels, wherein vehicles need to be customized to accommodate and carry a wheelchair or a mobility scooter easily.
The growing focus on personalized designs will fuel the demand for these products in the global market. Lifts specifically designed for buildings find applications in residential buildings, hospitals, and clinics, and in commercial spaces such as shopping malls and offices. The increasing adoption of advanced mobility equipment by the disabled and geriatric population due to better awareness is one of the key drivers in the global market.
The proliferation of Medicare, universal health schemes, private insurance, and lucrative reimbursement policies will augment the adoption of the chairlifts in the global market. The rise in the number of innovative products driven by modular development with emphasis on safety and space optimization will help players gain larger share in the global market.
The major vendors in the global market are:
- Bruno Independent Living Aids
- Cibes Lift Group
Scope of the Report
Market Segmentation by Automotive Lift
- Occupied Lifts
- - Single-Post Split Platform
- - Standard Dual-Post Platform
- - Under Vehicle Lifts (UVLs)
- Unoccupied Lifts
- - Outside Lifts
- - Inside Lifts
- - Hybrid Lifts
Market Segmentation by Building Lift
- - Vertical Platform Lifts (VPLs)
- - Inclined Platform Lifts (IPLs)
- - VPLs
- - IPLs.
Market Segmentation by Power Type
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