Global Stair Lifts Market to Reach $1.2 Billion by 2026
SAN FRANCISCO, June 2, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Stair Lifts - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: May 2021
Executive Engagements: 3924
Companies: 91– Players covered include Acorn Stairlifts Inc.; AmeriGlide; Ascent Mobility; Bruno Independent Living Aids, Inc.; EHLS, a Lifeway Mobility Company; Gruppo Millepiani S.p.a; Handicare Group AB; Harmar Mobility LLC; HIRO LIFT (Hillenkötter + Ronsieck); Kumalift Co., Ltd.; Lehner Lifttechnik GmbH; Otolift Stairlifts Ltd.; Platinum Stair Lifts Ltd.; Prism U.K. Medical Limited; Qingdao Sinofirst Machinery Co., Ltd.; Savaria Corp.; Stannah Lifts Holdings Ltd; Symax Lift Co, Ltd.; Taamal Mizra Electra; ThyssenKrupp AG and Others.
Coverage: All major geographies and key segments
Segments: Rail Type (Straight, Curved); User Orientation (Seated, Standing/Perched, Integrated Wheelchair Platform); Install Location (Residential Spaces, Commercial Spaces)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Latin America; Rest of World.
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ABSTRACT-
Global Stair Lifts Market to Reach $1.2 Billion by 2026
Stair lifts allow people with difficulties in using the staircase to move between floors. The lifts are convenient, and the soft seating offers a comfortable ride. Several types of stairlifts are available in the markets such as Custom Curved Elite Stairlift, Outdoor Elite Straight Stairlift, Acorn 80 Stairlift, and Elite Straight Rail Stairlift, among others. Stairlifts are versatile and can be deployed on straight, outdoor, or even staircases. Amid the COVID-19 crisis, the global market for Stair Lifts estimated at US$934.6 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 5% over the analysis period. Straight Stair Lifts, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$821.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Curved Stair Lifts segment is readjusted to a revised 5.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $209.5 Million in 2021, While China is Forecast to Reach $139.5 Million by 2026
The Stair Lifts market in the U.S. is estimated at US$209.5 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$139.5 Million by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. The market in these regions has been witnessing healthy growth in recent years driven by the increasing awareness about mobility devices, accessibility, and technological progress in the industry. The rising incidence of musculoskeletal conditions in various age groups, expanding elderly population with limited mobility are driving need for a mobility solutions, thus fueling growth in the stair lift market. Elderly population is susceptible to various health issues such as dizziness, vertigo, chronic diseases, limited mobility, and mental deterioration, making them dependent on others for movement. The market is also poised to benefit from the continuous rise in medical conditions affecting the population. For instance, osteoarthritis is becoming an increasingly common condition in developed nations.
Standing/Perched (User Orientation) Segment to Reach $232.4 Million by 2026
Global market for Standing/Perched (User Orientation) segment is estimated at US$181.7 Million in 2020, and is projected to reach US$232.4 Million by 2026 reflecting a compounded annual growth rate of 4.3% over the analysis period. Europe constitutes the largest regional market for Standing/Perched segment, accounting for 40.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.3% over the analysis period, to reach US$29 Million by the close of the analysis period. More
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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