Wheelchair and Components Market By Technology (Continuous Fiber Composites, Discontinuous Fiber Composites, Metals); By Components (Hard Rims and Wheel Rims, Frames, Other Components); By Application (Manual Wheelchair, Powered Wheelchair, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Wheelchair and Components Market Size and Overview
The global wheelchair and components market size was valued at around USD 5.5 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 5.1% from 2022 to 2032.The market size is projected to succeed in USD 9.1 billion by 2032.
The global wheelchair and components market is expected to exhibit 5.1% CAGR during the forecast period 2022-2032. The wheelchair and components market is a growing industry that provides mobility solutions to individuals with disabilities.
A wheelchair is a device that is used to assist people with mobility issues, and it can be powered or manual. The global market for wheelchairs and components is expected to grow at a significant rate due to an increasing number of people with disabilities, an aging population, and the growing prevalence of chronic diseases such as multiple sclerosis, cerebral palsy, and spinal cord injuries.
Wheelchair and Components Market Growth Drivers & Barriers
Increasing aging population is anticipated to impel the growth of the market. Further, rising incidences of road accidents is also expected to aid to the growth of wheelchair and components market. Additionally, growing instances of physical disability is another factor which will fuel the growth of the global wheelchair and components market.
Growing demand for powered wheelchairs across the globe is anticipated to positively impact the growth of the market. Addition to that, introduction of electronic control drivetrains and improved power capacities is set to spearhead the growth of global wheelchair and components market.
In order to develop cost-effective products, manufacturers of wheelchair and components are partnering with various composite material manufacturing companies. This bodes well for the growth of the market.
Wheelchair and Components Market Regional Outlook
In the terms of geography, the wheelchair and components market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, Asia Pacific is slated to account for highest percentage of market share in overall wheelchair and components market during the forecast period. Also, Africa wheelchair and components is expected to showcase highest growth rate in global wheelchair and components market during the forecast period.
Wheelchair and Components Market Segmentation
The research offers a comprehensive analysis of wheelchair and components market with respect to following sub-markets:
- Continuous Fiber Composites
- Discontinuous Fiber Composites
- Hard Rims and Wheel Rims
- Other Components
- Manual Wheelchair
- Powered Wheelchair
- 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, Taiwan, 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;
- Invacare Corp
- Ottobock Healthcare GmbH
- Permobil AB
- Pride Mobility
- Products Corp.
- Sunrise Medical
- 21st Century Scientific, Inc.
- Meyra Wilhelm Meyer GmbH & Co. KG
- Others Major and Niche Players
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