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Global Wheelchair And Components Market will grow at 3.4% CAGR, to be valued at US$ 7,799.7 Million by 2027 | Global Industry Analysis by Company Profiles, Segments, Size, Landscape and Demand

January 20th, 2020 Coherent Market Insights Releases

Use of wheelchair aids to reduce back pain and sores. The demand for manual wheelchairs is high for injured or disabled patients with high upper body strength. The demand for electric and solar-powered wheelchairs has increased in the recent past.

The global wheelchair and components market is estimated to account for US$ 5,739.7 Mn in terms of value by the end of 2027.

Global Wheelchair and Components Market: Drivers

Increasing geriatric population is expected to aid in growth of the global wheelchair and components market over the forecast period. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

Request Sample Report Wheelchair and Components Market @ https://www.coherentmarketinsights.com/insight/request-pdf/3318

Global Wheelchair and Components Market: Opportunities

Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to offer lucrative growth opportunities for players in the global wheelchair and components market. Use of lightweight wheelchairs can increase the range of distance and terrains. Moreover, such wheelchairs offer protection from the strains of regular wheelchair use.

Global Wheelchair and Components Market: Restraints

Lack of awareness and infrastructure, especially in emerging economies, such as broken pathways, non-availability of ramps in buses & trains for wheelchair users is expected to hamper growth of the global wheelchair and components market.

Key Takeaways:

The Continuous Fiber Composites segment in the global wheelchair and components market was valued at US$ 2,090.9 Mn in 2019 and is expected to reach US$ 2,928.6 Mn by 2027 at a CAGR of 4.1% during the forecast period. The growth of the segment is attributed to increasing technological innovation in material design during the forecast period.

The Hand Rims & Wheel Rims segment held dominant position in the global wheelchair and components market in 2019, accounting for 36.1% share in terms of value, followed by frames segment respectively. Increasing demand for lightweight & ultra-lightweight wheelchairs is expected to drive the segment growth during the forecasted period.

Browse Press Release: https://www.coherentmarketinsights.com/press-release/wheelchair-and-components-market-2688

Market Trends

The use of carbon fiber material in production of wheelchairs is increasing currently. This is owing to several advantages offer by carbon fiber material such as more flexibility compared to both steel and aluminum and high shock resistance.

Market players are offering new products with adjustment features. For instance, Permobil offers the TiLite Pilot, a manual wheelchair for children with adjustment features.

Global Wheelchair and Components Market: Competitive Landscape

Major players operating in the global wheelchair and components market include:

  • OEM Companies: Invacare Corp., Ottobock, Permobil AB, Pride Mobility Products Corp., Handicare, Sunrise Medical, Hoveround, Panthera X, 21st Century Scientific, Inc., and Meyra Wilhelm Meyer GmbH & Co. KG
  • Tier 1 Component Suppliers Companies: Tetra Equipment GMBH, Custom Engineered Wheels, The Wheelchair Place, LLC, Alber GmbH, and Intelli Wheels
  • Material Suppliers Companies: E.I. DuPont De Nemours and Company, Toray Industries, Inc., Mitsubishi Rayon Co., Ltd., Toho Tenax, and Shanghai Cedar Composites Technology Co., Ltd.

Purchase a copy of Wheelchair and Components Market Report: https://www.coherentmarketinsights.com/insight/buy-now/3318

Global Wheelchair and Components Market: Key Developments

  • In February 2019, Karman Healthcare launched Tranzit Go Foldable Power Wheelchair, a lightweight and functional everyday power wheelchair.
  • In August 2018, Sunrise Medical acquired Magic Mobility, a designer and manufacturer of all-terrain power wheelchairs.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Media Contact:

Name: Mr. Raj Shah
Email: sales@coherentmarketinsights.com
Phone: US +12067016702
Country: United States
Website: https://www.coherentmarketinsights.com/
Visit Blog: https://globalindustryresearchblog.wordpress.com/

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