Global Stairlift Market : Curved Stairlifts segment to Register Healthy Growth of 7.1% CAGR during 2018-2022

 

Global Stairlift Market 2018 Forecast 2022” report provides 360° view on Industry by shading light on all major factors like Key Players, Demand for Products, End User & Applications, Future Growth & Forecast.

The competitive landscape of the global stairlift market is highly fragmented owing to the presence of several local players. Typically, majority of the players cater to their local market with little presence overseas. Companies such as Platinum Stairlifts, Harmar Mobility, LLC, Bruno Independent Living Aids, Inc., ThyssenKrupp Accessibility BV and Stannah Lifts Holdings Ltd.  among others have a broader presence within the global market.

The global stairlift market size is anticipated to witness a 7.0% CAGR over the forecast period due to increasing consumer awareness for medical devices offering mobility access. Installation of stairlifts has recently entered several untapped regions such as Australia with more and more players entering the market to address the potentially growing demand.

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Rigorous marketing strategies by key players play a major role to increase stairlift demand because of unawareness among consumers especially in developing economies. Since, there are countries lacking in technological infrastructural growth, awareness for stairlifts is a crucial factor to increase the overall sales.

Stairlift manufacturers focus on continuous improvisation to enhance their product portfolio in order to meet the requirements of customers. Furthermore, incorporation of adaptive mechanisms such as powered and manual swivel technology with a safety switch is a major trend in the global market. Also, use of rechargeable batteries leading to high efficiency and simplified operations are some other major trends pertaining in the global stairlifts market. Although, concerns associated with potential risk of injury due to inappropriate installation and faulty mechanism are major factors expected to pose challenges in the global market.

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In 2017, straight stairlifts accounted for more than half share of the global stairlift market. Straight stairlifts have been gaining tremendous popularity among consumers especially in North America and Europe. High customized requirements at residences and easy & low cost installation has resulted in the direct selling of straight stairlifts. Though the popularity of straight stairlifts is high, their penetration is low among consumers who are opting for curved stairlifts owing to their complex design structure suitable for multistoried residences.

North America was the largest market for stairlifts in 2016 and is expected to witness the fastest growth over the next few years. Europe is expected to be the second fastest growing market after North America on account of rising consumer demand, increasing consumer disposable income, rising health awareness, and changing lifestyles of consumers. The Chinese stairlift market is projected to witness a significant growth due to growing geriatric population, rapid inclination towards technology innovations as well as demand for cost effective & multi-functional medical devices.

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