Global Market for Stair Lifts
Dublin, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The "Stair Lifts - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Stair Lifts Market to Reach $1.2 Billion by 2026
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.
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.
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.
Select Competitors (Total 62 Featured):
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Acorn Stairlifts Inc.
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AmeriGlide
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Ascent Mobility
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Bruno Independent Living Aids, Inc.
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EHLS, a Lifeway Mobility Company
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Gruppo Millepiani S.p.a
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Handicare Group AB
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Harmar Mobility LLC
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HIRO LIFT (Hillenkotter + Ronsieck)
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Kumalift Co., Ltd.
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Lehner Lifttechnik GmbH
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Otolift Stairlifts Ltd.
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Platinum Stair Lifts Ltd.
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Prism U.K. Medical Limited
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Qingdao Sinofirst Machinery Co., Ltd.
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Savaria Corp.
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Stannah Lifts Holdings Ltd
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Symax Lift Co, Ltd.
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Taamal Mizra Electra
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ThyssenKrupp AG