New Analysis from Global Industry Analysts Reveals Steady Growth for Stair Lifts, with the Market to Reach $1.2 Billion Worldwide by 2026

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Mar 24, 2022, 09:15 ET

SAN FRANCISCO, March 24, 2022 /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

New Analysis from Global Industry Analysts Reveals Steady Growth for Stair Lifts, with the Market to Reach $1.2 Billion Worldwide by 2026

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Edition: 10; Released: February 2022
Executive Pool: 3924
Companies: 62 - 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
Stairlifts or chairlifts or stair gliders are mechanical devices that enable individuals who suffer movement disabilities to go up and down the staircase without assistance. A stairlift comprises motorized seats that are electrically-powered and can be deployed on a straight or a curved staircase and also can be tailored as per the needs. The global market for stairlifts 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 are susceptible to various health issues such as dizziness, vertigo, chronic diseases, limited mobility, and mental deterioration, making them dependent on others for movement. For such individuals, stairlifts serve as an important system providing functional independence to some extent. 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. The disease is associated with aging that affects knees, fingers, lower spine, and joints. Other diseases include obesity, hypertension, diabetes, orthopedic disorders, and cancer which limit movements, fueling the growth of the stair lift market. Technology innovations play a critical role in driving market growth. The introduction of wireless technology and smartphones' usage are driving growth in the stairlift market by enabling connectivity between the stairlift with the mobile phone for controlling and monitoring purposes.

Amid the COVID-19 crisis, the global market for Stair Lifts estimated at US$1 Billion in the year 2022, 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, 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 segment is readjusted to a revised 5.3% CAGR for the next 7-year period. Curved Stairlifts are the fastest growing market share because of the ability to be tailored to the customer's needs.

The U.S. Market is Estimated at $216.9 Million in 2022, While China is Forecast to Reach $139.6 Million by 2026
The Stair Lifts market in the U.S. is estimated at US$216.9 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$139.6 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 analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. North America and Europe lead the global market for Stairlifts. The regions benefit from the increasing awareness among the public on the benefits of stairlifts such as accessibility, increasing geriatric population, rising cases of obesity, and physical disabilities. Additionally, the advanced healthcare infrastructure, increasing adoption of the products, established reimbursement policies, technological progress, and leading domestic manufacturers further boost growth. More

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