According to TMR, the North America wheelchair accessible vehicle converters market was valued at US$1.74 bn in 2015. It is expected to expand at a positive CAGR of 5.30% within a forecast period from 2016 to 2024, eventually reaching US$3.47 bn by the end of 2024. “The growth in the number of disabled patients is currently influencing the North America wheelchair accessible vehicle converters market. In 2015, almost 3.3 mn wheelchair users were already present in North America, a number which is likely to rise over the coming years due to the growth in prevalence of disability of mobility among patients,” states a TMR analyst. The massive geriatric population is a primary proponent of this demographic, followed by the obese and the trauma and accident victims. This, as a result, is likely to fuel the demand for wheelchair accessible vehicle converters further over the forecast period.

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Side entry vehicles have so far been a widely demanded segment in the North America wheelchair accessible vehicle converters market. According to analysts, this segment is also likely to propel the market over the coming years, owing to the increased expenditure on them, fueling the development rate of manufacturers.

The U.S. dominated the North America wheelchair accessible vehicle converters market in 2015 with a share of close to 95% and is expected to remain in the lead for the given forecast period. This might be achieved by the increasing presence of a disabled and geriatric population, the increasing demand for wheelchair accessible vehicles, and a rise in trauma and accident cases. The market growth rate is further enhanced by increased government funding and the rising number of awareness initiatives.

The North America wheelchair accessible vehicle converters market is also being driven by the overall addition of these type of vehicles in the increasingly asked for user-friendly accessible vehicles category. The market is, however, currently being restrained by the high price of these vehicles and the essential components required.

In terms of geography, the market for wheelchair accessible vehicle converters in North America has been segmented into the U.S. and Canada. With a share of nearly 95%, the U.S. led the overall market in 2015. The scenario is expected to remain so over the next few years, thanks to the presence of a large base of disabled population. The rising adoption of wheelchair accessible vehicles, stimulated by the increasing number of awareness initiatives by the manufacturers of vehicle converters, increasing cases of trauma resulting in disability, and the surge in the government funding for wheelchair accessible vehicles are also projected to boost the U.S. market for wheelchair accessible vehicle converters in the years to come.

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The North America market for wheelchair accessible vehicle converters is fragmented and highly competitive in nature. Mobility Ventures LLC, Vantage Mobility International, and BraunAbility are at the forefront of this market. Some of the other prominent vendors of wheelchair accessible vehicle convertibles in this region are Toyota Motor Corp., Rollx Vans, and Freedom Motors USA.

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