Stairlifts Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Stairlifts Market Overview and Definition
Stairlifts are mechanical devices designed to transport people up and down staircases, typically in residential homes or public buildings. Stairlifts consist of a chair or platform that moves along a rail installed along the staircase, usually powered by a motor or battery. Stairlifts are intended to provide mobility and accessibility for people who have difficulty climbing stairs due to age, disability, or injury.
The stairlifts market includes the production, sale, and distribution of stairlifts for various residential and commercial applications. Stairlifts can be customized to fit various types of staircases, such as straight or curved staircases, indoor or outdoor staircases, and narrow or wide staircases, among others. Stairlifts are typically designed to be safe, comfortable, and user-friendly, with features such as swivel seats, safety belts, and remote controls.
The global stairlifts market has been growing steadily over the years, driven by the increasing demand for home healthcare solutions and the aging population in many developed countries. The market includes various types of stairlifts, such as straight stairlifts, curved stairlifts, outdoor stairlifts, and standing stairlifts, among others. Popular stairlift manufacturers include Acorn Stairlifts Inc., Bruno Independent Living Aids Inc., Handicare Stairlifts, and Stannah Stairlifts, among others.
The Global Stairlift Market is expected to mask a CAGR of XX% during the projected period. Stairlifts, also referred as wheelchair for staircases, are installed at places where climbing stairs is a tedious and arduous task. Stairlifts can be installed indoors or outdoors, through straight, curved & spiral staircases depending upon individual’s requirement. The global stairlifts market reached at a market valuation of USD XX.X Billion in 2021 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2022-2032.
Growth Drivers – Stairlifts Market
Growing Geriatric Population
Growing aging population is another key factor bolstering the demand for stairlifts. According to data from World Population Prospects: the 2019 Revision, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. In 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050. Thus, this booming geriatric population is predicted to bolster the installation of stairlifts in upcoming years, which in turn will foster the growth of global stairlifts market.
Increasing Installation of Stairlifts at Non-Residential Places
The commercial buildings, public buildings, malls, airports and others are increasingly installing stairlifts to aid old and physically challenged population. Government support & awareness have emboldened multiple sectors to install stairlifts as their places. Government support in terms of tax relaxation, guidelines and more have also backed the growth of global stairlifts market globally.
Barriers – Stairlifts Market
Purchasing and installing a stairlift can be an expensive process. Thus, low- & middle-class population with fixed incomes are founding installation of stairlifts a tough task. Gaps in Medicare and insurance policies, such as lack of funding and insurance, are also increasing the barrier level for global stairlift market.
The market is analyses on regional levels, consisting North America, Europe, Asia Pacific, Latin America and Middle East & Africa. During our analysis, The Europe was found to be the dominant region in global stairlifts market in 2019. Government guidelines, high cost of nursing home care, high income level and strong awareness are several factors which have allowed Europe stairlifts market to thrive at a notable rate.
The research offers a comprehensive analysis of stairlift market with respect to following sub-markets:
- Medicare Area
- Public Place
- Straight stairlift
- Curved stairlift
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- DAIDO KOGYO
- Breffni Mobility
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities).
The study also provides company’s positioning and market share in stairlift market.
Timeline Considered for Analysis:
- 2019- Base Year
- 2020 – Estimated Year
- 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global stairlift market by the following segments:
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global Stairlift Industry Report:
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?