November, 2018: Adroit Research launched a study titled, “Global Stairlift Market Size 2016 By Product (Straight Stairlifts and Curved Stairlifts), By Application (Residential, Medicare Areas and Public Places), By Region and Forecast 2017 to 2022”. The study covers the global stairlift market value for a period ranging in between 2014 to 2022, where 2014 to 2016 imply the historical value with forecast between 2017 and 2022. The global stairlift market report also includes qualitative insights of the market such as porters five forces analysis, marketing strategy analysis and profiles of leading global manufacturers.
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The global stairlift market size is estimated to reach USD 969.5 million over the forecast period. As a result of increasing awareness among consumers about mobility access offered by medical devices. Developing countries such as India, China, Mexico, Brazil, and South Africa are witnessing a strong demand for Installation of stairlifts due to awareness and updated policies covered under medical insurance.
Stairlifts, including chair stairlifts and perching stairlifts, have huge demand in residences and are not apposite in public infrastructures. These type of stairlifts are designed for residential purpose, where they can be structured to meet an individual’s needs and where a person with physical disability can independently move upstairs and downstairs.
Stairlifts are equipped with buttons/joysticks to simplify the overall operation. The global stairlift market demand is growing as geriatric population and physically challenged people can easily access the equipment. Intermittently, they may be used in situations such as a service location where they are provided for use by physically disabled individuals. In such locations, they should not obstruct the acclaimed clear width of the stairs or route for any emergency exit.
Concerns associated with potential risk of injury due to inappropriate installation and faulty mechanism, Negative feedbacks from customers about post sale services and high prices are some of the major challenges that are restraining the global stairlift market from growing.
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Straight stairlifts segment accounted for more than half share of the global market in 2016. This types of stairlift have been gaining popularity among consumers especially in developed countries from Europe and North America. Straight stairlift is a mobile chair-like transportation device especially designed to be attached to the straight stairways. Straight stairlifts improves access between floors in homes and provides easy access to numerous people with mobility problems. Straight stairlifts have widespread demand compared to other types of stairlifts in private apartments having straight stairs and/ or straight rail (track).
North America held the highest share of stairlift market in 2016 and is anticipated to maintain its dominance over the forecast period as a result of robust insurance policies and awareness. Asia Pacific is projected to be the fastest growing market on account of increasing consumer disposable income, rising consumer demand, changing lifestyles of consumers and rising health awareness. Moreover, the stairlift market size in China is witness a strong growth due to rapid inclination towards technology innovations, growing geriatric population and demand for multi-functional and cost effective medical devices.
The global stairlift market industry is highly competitive and fragmented with the presence of many manufacturers leading their positions in domestic market. For instance, to sustain in this industry Thyssenkrupp Elevator Technology started offering lifetime warranty for its stairlift products from 1st October, 2018. The major players analysed in the market are Harmar Mobility, LLC, Platinum Stairlifts, Bruno Independent Living Aids, Inc., Otolift, Stannah Lifts Holdings Ltd., ThyssenKrupp Accessibility BV, Acorn Stairlifts Inc., MediTek Stairlifts, Handicare Stairlifts B.V., Savaria Corporation, Sugiyasu Ltd., 101 Mobility, LLC and Extended Home Living Services (EHLS).
Key segments of the global stairlift market
Product Overview, 2014-2022 (USD Million)
Straight Stairlifts
Curved Stairlifts
Application Overview, 2014-2022 (USD Million)
Residential
Medicare Areas
Public Places
Regional Overview, 2014-2022 (USD Million)
North America
US
Canada
Europe
Germany
United Kingdom
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Korea
South East Asia
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Key players analysed
• Harmar Mobility, LLC.
• Platinum Stairlifts
• Bruno Independent Living Aids, Inc.
• Otolift
• Stannah Lifts Holdings Ltd.
• ThyssenKrupp Accessibility BV
• Acorn Stairlifts Inc.
• MediTek Stairlifts
• Handicare Stairlifts B.V.
• Savaria Corporation
• Sugiyasu Ltd.,
• 101 Mobility, LLC.
• Extended Home Living Services (EHLS)
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About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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