New York City, NY: Jun 18, 2019 – Published via (Wired Release) – Stairlifts are mechanical devices used majorly by aged or elderly members of the population, physically challenged, or temporarily injured individuals for lifting people up and down stairs. Stairlifts are available in two types namely, straight stairlifts and customized or curved stairlifts.
The global stairlift market is estimated to value US$ 1.2 Bn in 2017 and is projected to register a CAGR of 6.2% in terms of value during forecast period 2017–2026. The first five-year cumulative revenue (2017–2021) is projected to be US$ 6.9 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
Increasing adoption of stairlifts especially in residential and public places, owing to increasing geriatric population and rising demand for automated systems across the globe are major factors expected to drive growth of the global market over the forecast period. In addition, technological advancement and increasing need of efficient and safer products are other factors expected to fuel growth of the target market. Moreover, increasing support from government across the globe for providing stairlifts at a normal or subsidized cost to disabled and geriatric members in certain countries is another factor expected to support growth of this market in the near future.
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Global Stairlift Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global stairlift market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global stairlift market is expected to expand at a CAGR of 6.2% during the forecast period.
Global Stairlift Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application and region. The product type segment includes straight stairlift and curved stairlift. The application segment includes residential area, healthcare area, and public place. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product type: The straight stairlift product type segment accounted for highest revenue share contribution in 2016, as compared to curved product type segments, and is expected to register a CAGR of over 6% between 2017 and 2026.
By application: The residential area application segment is projected to account for highest revenue share as compared to that of other application segments, and register a CAGR of around 6% over the forecast period.
By region: The market in Europe accounted for highest revenue share in the global stairlift market in 2016, and is expected to register a CAGR of over 6% between 2017 and 2026.
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Global Stairlift Market: Competitive Analysis
The research report on the global stairlift market includes profiles of some of the major companies such as Acorn Stairlifts Inc., Handicare AB, Stannah Lifts Holdings Ltd., Bruno Independent Living Aids, Inc., Otolift Stairlifts, Harmar Mobility LLC, thyssenkrupp AG, Platinum Stairlifts Ltd., Meditek, Cremer Lifts Ltd., Savaria Corp., SUGIYASU Corporation, Taicang Kanghui Technology Development Co. Ltd. – JIU YAN YANG.
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