The global stairlift market size is likely to project a CAGR of 7.7% during the forecast years 2021-2028. Stairlift is the electronic or mechanical equipment which is used by people to travel up & down the stairs. However, stairlifts is offered with a rail with the stairs in which the individual can move. The device is equipped with a switch so that a person can move as well as operate. In addition to this, there are several sizes available in the rail in which the rail weight can vary. Thus, the installation of stairlifts is extremely easy. The stairlifts are very simple to use and it is more comfortable too. However, stairlifts are designed by considering the several safety measures that offers an alarm if an individual is not properly seated. Stairlifts are equipped with buttons/joysticks to simplify the overall operation. The equipment is easily accessible and manoeuvrable for the elderly and physically handicapped. Low installation costs and simplicity of accessibility are two important factors driving the global stairlifts industry forward.
The present and future stairlift market progress is summarized to conclude the attractiveness of the entire market. The worldwide stairlift market is being driven by an increase in the geriatric population and an increase in the number of patients with physical impairments as a result of accidental injuries. The demand for stairlifts is also being boosted by age-related health problems like as osteoarthritis. The user-friendliness and high degree of mobility that stairlifts provide are regarded to be their distinguishing characteristics. Furthermore, a rapid premarket approval procedure is likely to play a vital role in driving stairlift demand.s
Adroit Market Research report on global stairlift market gives a holistic view of the market, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for the period 2019 to 2028, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global stairlift market have been studied in detail.
Based on product, the stairlift market is categorized into straight stairlift and curved stairlift. The straight stairlift segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. A straight stairlift is a movable chair-like transportation equipment designed to be fitted to straight stairwells. It improves access between levels in homes and makes it easier for many persons with mobility issues to get in. In distant apartments with straight rail, straight stairlifts have a higher adoption rate than other forms of stairlifts. Application-wise, residential segment dominated the globalstairlift market in 2020 due to widespread application in private apartments having straight stairs or straight rail.
North America is anticipated to hold majority market share in the global stairlift market by 2028. the More than 50 million individuals in the United States have been diagnosed with some kind of arthritis. As a result, a considerable number of stairlifts have been installed in areas where elderly people live. Moreover, rising disposable income of consumers in the region leads to an increase in the overall growth of advanced medical equipment industry. However, Asia Pacific is expected to outpace other regions growing with a CAGR of 9.0% during the forecast period.
The major players of the global stairlift market are Platinum Stairlifts, Stannah Lifts Holdings Ltd., Harmar Mobility, LLC, Bruno Independent Living Aids, Inc. and ThyssenKrupp Accessibility BV among others. Most corporations typically cater to the local market with few venturing to grab a chunk of the global market.
Key Segments of the Global Stairlift Market
Product Overview, 2019-2028 (USD Million)
- Straight Stairlift
- Curved Stairlift
Application Overview, 2019-2028 (USD Million)
- Medicare Areas
- Public Places
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa
- South Africa
- Rest of Middle East and Africa