Stair lift market size is expected to grow at a CAGR of over 8% during the period 2019−2025.
Key Highlights Offered in the Report:
- The global stair lift market would realize an absolute growth of 65% – a leap of over $1,000 million incremental revenue between 2019 and 2025.
- Contributing over $550 million incremental revenue during 2019-2025, straight stair lifts offers a profitable revenue potential opportunity for market vendors.
- The stair lift market in the residential end-user segment is expected to offer $500 million – incremental revenue for the market during 2019-2025.
- With nearly 70% of the market revenue coming from North America and Europe, vendors in these regions are emphasizing on introducing new and innovative solutions in the mobility equipment to bolster the overall stair lift market sales.
- Vendors such as Acorn Stairlifts, Bruno Independent Living Aids, ThyssenKrupp and Stannah, among others, emphasize on offering products which caters to diversified vertical markets.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by installation, rail orientation, user orientation, application, distribution channel, and geography
- Competitive Landscape – Profile of 5 key vendors and 27 other vendors
Stair Lift Market – Segmentation
- Outside stair lifts have profound usage as they help to remove movement barriers and offer excellent mobility solutions. They are weather and UV light resistant and finding increasing applications in resorts and beach houses.
- 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.
- Wheelchair integrated platform lifts will gain traction from individuals with physical disabilities. They are easy to operate and offer high accessibility to the user in buildings. Moreover, wheelchair lift platforms can be easily folded to allow others to access stairs.
Market Segmentation by Installation
Market Segmentation by Rail Orientation
Market Segmentation by User Orientation
- Wheelchair Integrated Platform
Market Segmentation by Application
- Leisure & Entertainment
- Government & Local Authorities
Market Segmentation by Distribution Channel
- Direct Channels
- Dealers & Distributions
- Government & Local Authorities
Stair Lift Market – Dynamics
Increasing trend for promoting the stair lift-assisted mobility among the elderly and disabled population by various associations and government organizations is expected to increase across the different regions in the world. Independent mobility for disabled is considered as a human right and the various associations and governments are focusing on introducing essential assistive mobility technology, in order to promote mobility and independence among the elderly and disabled community across the world. Well-designed, high-quality assistive devices or daily living aids support independent living for the disabled, seniors, or those with an injury or a medical condition. The growing focus on promoting active and independent living for elders and specially-abled individuals will positively impact the growth of the global market.
Key Drivers and Trends fueling Market Growth:
- Increasing Chances of Osteoarthritis, Knee Problems and other Age-related Diseases
- Policies and Expenditures for Stair Lift
- Growing Efforts from Governments and Private Organizations
- Modularity, Safety, and Space Optimization to Drive Product Development
Stair Lift Market – 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. Factors such as consumer confidence, and consumer purchasing power, poses to be the key indicators in driving the demand for the same. With the advancements in technology, factors such as newer product innovations and developments, also play a key role in performing the mobility operations with ease and convenience.
Market Segmentation by Geography
- Nordic Countries
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Acorn Stairlifts
- Bruno Independent Living Aids
- Handicare Group
- ThyssenKrupp Elevator Technology
Other vendors include – Mobility, Acme Home Elevator, American Elevator, AmeriGlide, Ascent Mobility, Bespoke Stairlifts, Brooks Stairlifts, Daido Kogyo, Extrema, Faboc, Garaventa Lift, Harmar, Hidral, Hiro Lift, Högg Liftsysteme AG, Kumalift, Lehner Lifttechnik, Les Escalateurs Atlas, Liftavator, Meditek, MPR Lifts, Otolift, Platinum Stairlifts, Precision Stairlifts, Savaria, SUGIYASU, and Vimec.
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