Get an in-depth analysis of COVID-19 impact on the global stair lift market.
The global stair lift market is expected to grow at a CAGR of over 8% during the period 2019–2025.
The global stair lift market will observe significant growth on account of the rise in physical disabilities in the aging population and adults. Stairlifts are likely to be deployed in residential and commercial sectors as they are cost-effective and provide efficient mobility solutions to consumers. The application will increase in healthcare centers, schools, and corporate workplaces. Moreover, homeowners opting to stay at respective homes are likely to install stairlifts to move independently is another factor driving market growth. Technological innovations such as curved, outdoor, and wheelchair integrated stair lifts will further boost the market. Vendors are likely to positively impact the market by providing free delivery and multiple financing options to consumers. The increasing availability of these appliances in the market will bolster the demand during the forecast period.
The following factors are likely to contribute to the growth of the stair lift market during the forecast period: •Rising Aging Population with Increased Life Expectancy Rate •Increasing Chances of Osteoarthritis, Knee Problems, and other Age-related Diseases •Promotion of Active and Independent Living for Elders and Disabled •Growing Efforts from Governments and Private Organizations •Increasing Technological Innovations
The study considers the present scenario of the stairlift market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Stair Lift Market: Segmentation
This research report includes a detailed segmentation by installation, rail orientation, user orientation, application, distribution channel, and geography. The demand for indoor stair lifts is expected to increase in medical centers due to patients’ physical disabilities obstructing them from climbing stairs. They are likely to gain popularity in corporate workplaces for the ease and convenience they offer. The application is expected to increase in the residential sector as they minimize the obstruction on the stairways that enable users to access the staircase and perform tasks effectively easily. The application of straight rails is majorly preferred in the residential sector as they are easy to install. The demand for straight lifts is likely to increase among the elderly population because they allow individuals to enter and exit and are cost-effective safely.
Seated stair lifts are preferred in the residential segment. The adoption enables the user to traverse with ease at different levels in their houses. The increasing musculoskeletal conditions in the aging population are likely to bolster the demand. The demand for standing stair lifts will to grow due to the rise in individuals suffering from joint stiffness, ailments, and hip and knee-related pain. Increased product innovations by vendors are likely to increase market dynamics, which is likely to impact market growth favorably.
The residential segment is expected to dominate the market due to the growing aging population with limited mobility. The deployment offers cost-effective and quick solutions to the elderly population. Moreover, these mobility solutions diminish the risk of fall, and advanced technology helps users to operate these lifts efficiently and enable them to traverse and independently within different floors in the house.
The healthcare segment will fuel the growth because of the increasing number of disabled people and baby boomers that opt to live in healthcare facilities due to physical disabilities. Professional caretakers cannot be expected to offer help round-the-clock. Hence, the demand in healthcare centers is likely to increase as these lifts enable individuals to traverse independently. The leisure and entertainment sector will emphasize the adoption by replacing space-consuming elevators and escalators. They would allow users to switch between floor levels, provide easy access to concert pits, and help at the entrance and exit points at public buildings.
Manufacturers are likely to bolster market growth by their unique offerings. Several manufacturers deliver stair lifts to consumers with no additional charges and provide multiple financing options. Besides, vendors are engaged in providing high-value services as well as customer-focused solutions. Dealers and distributors will bolster the sale of these products by identifying the preference of customers.
Market Segmentation by Installation •Indoor •Outdoor Market Segmentation by Rail Orientation •Straight •Curved Market Segmentation by User Orientation •Seated •Standing •Wheelchair Integrated Platform Market Segmentation by Application •Residential •Healthcare •Leisure & Entertainment •Government & Local Authorities Market Segmentation by Distribution Channel •Direct Channels •Dealers & Distributions •Government & Local Authorities
Insights by Geography
The European market is likely to grow at the fastest CAGR due to the growing aging population, coupled with an increase in per capita disposable income. Moreover, the increasing number of osteoporosis diseases in the aging population is likely to generate demand for stair lifts in residential or commercial areas. In North America, the growing prevalence of people suffering from physical disabilities and the increasing adoption of technological innovations are expected to boost the demand. The increasing number of obesity cases and the growing elderly population, which is likely to cross 95 million by 2060, is expected to bolster the demand. Furthermore, the presence of market leaders with a wide range of mobility devices portfolios and strong distribution networks is another factor likely to fuel the demand for such lifts in the region. Increasing disposable incomes, coupled with the changing lifestyles of consumers, particularly in the developing countries of APAC, are expected to boost the growth during the forecast period. The growing geriatric population is expected to fuel the demand for high-end home care technology, thereby increasing the demand.
Market Segmentation by Geography •Europe oNordic Countries oUK oGermany oFrance oSpain oItaly •North America oUS oCanada •APAC oChina oJapan oAustralia oSouth Korea •Latin America oBrazil oMexico oArgentina •MEA oSouth Africa oSaudi Arabia oUAE
Insights by Vendors
The global stair lift market is highly concentrated with several local and international players in the market. The rapidly changing technological environment will adversely affect vendors as customers expect continual innovations and upgrades in stair lifts. Manufacturers emphasize on identifying opportunities, thereby setting up certain goals to achieve productivity and efficiency. The current scenario is driving vendors to alter and refine their unique value propositions to make a strong market presence. Companies are striving to offer differentiated channels for distribution and better product mix, thereby catering to the dynamic needs and requirements of customers in the market. Key manufacturers are likely to provide and expand their product lineup, with the launch of several innovative techniques, they are expected to gain an edge over their competitors. Key competitive factors include reliability and quality, product innovation, product support, pricing, warranty, distribution, and financing options. The increasing competition is expected due to changing market conditions and shifting consumer demands in different geographical regions across the world.
Key Vendors •Acorn Stairlifts •Bruno Independent Living Aids •Handicare Group •ThyssenKrupp Elevator Technology •Stannah
Key Market Insights The analysis of the stair lift market provides sizing and growth opportunities for the period 2020–2025. •Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. •Includes a detailed analysis of growth drivers, challenges, and investment opportunities. •Delivers a complete overview of segments and the regional outlook of stair lift market. •Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
Our reports have been used by over 10K customers, including:
In Turkey, the Central region is holds significant share of the Turkey elevator market, in terms of volume as well as value, due to growing infrastructure development activities, particularly in the residential and commercial sectors.Similarly, the Western region is projected to witness higher growth in the elevator market in the coming years. Additionally,...
Executive Summary The Global Elevator Service Market, valued at USD 34.9 billion in the year 2019, with service business (including maintenance & repair and modernisation) accounting for more than half of the annual revenues of the top four OEMs - Otis, Schindler, Kone and Thyssenkrupp Elevators. Also, owing to mature installed...
Trends, opportunities, and forecast in smart elevator market to 2025 by end use industry (residential, commercial, institutional, and automated vehicle storage & retrieval system), service (new installation, modernization, and maintenance), component (control system, maintenance system, and communication system), and by region (North America,...
369 pages •
By Global Industry Analysts
• Jul 2020
Global Stair Lifts Market to Reach $2.1 Billion by 2027 Amid the COVID-19 crisis, the global market for Stair Lifts estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2027, growing at aCAGR of 7.2% over the period 2020-2027. Straight Stair Lifts, one of the segments analyzed in the...
560 pages •
By Global Industry Analysts
• Jul 2020
After a temporary fall in sales in years 2020 and 2021, the global market for Elevators and Escalators is projected to reach US$80.1 billion by 2027. The pandemic triggered serious economic uncertainties will impact this market in the short term. Manufacturing PMI is falling below the 50 points indicating contraction; real gross domestic product...
The machine control system market is projected to grow at a significant rate from 2020 to 2025. The global machine control system market size was valued at USD 4.1 billion in 2020 and is projected to reach USD 5.6 billion by 2025; it is expected to grow at a CAGR of 6.3% from 2020 to 2025. The growth of the machine...
The global soil stabilization market was valued at US$ 21,997.38 Mn in 2018 and is projected to reach US$ 31,843.79 Mn by 2027; it is expected to grow at a CAGR of 4.1% from 2019 to 2027. Expansive soils are problematic and exhibit shrink-swell characteristics owing to their clay mineral constituents.This characteristic makes the soil...
The global elevator & escalator (E&E) market is anticipated to reach US$142.2 billion in 2024, experiencing growth at a CAGR of 7% during the period spanning 2020-2024. The growth in the elevator & escalator market is driven by various factors such as increasing urbanization, surging aged population, rising construction expenditure and increasing...
The Saudi Arabian construction equipment market is expected to register a CAGR of 4.79%, during the forecast period of 2020-2025. - The construction sector experienced a strong rebound in 2019. However, the outbreak of COVID-29has affected the growth of the construction sector negatively. As the construction sector is labor intensive,...
The major factors attributed to the growth of the patient mechanical lift handling equipment market include increasing geriatric population & rising prevalence of chronic diseases, and rising musculoskeletal disorders. The patient mechanical lift handling has a major role in transporting the patient from one place to another place....
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.