Wheelchair Accessible Vehicle Converters Market - North America Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025
North America Wheelchair Market: Snapshot
In the United States, one out of every five adults has a disability, according to a new study published by the Centers for Disease Control and Prevention. The most common functional disability type was a mobility limitation – defined as serious difficulty in walking or climbing stairs — reported by one in eight adults, followed by disability in thinking and/or memory, independent living, vision, and self-care.
North America wheelchair market is set to soar in the next couple of years owing to new product launches. Players in the industry are seen expending substantial amounts on building more sophisticated products. Strong government funding and subsidies in the sector, alongside the rising number of physically disabled people is also predicted to have a positive influence on the market. The latter is mainly on account of the rising cases of trauma causing disabilities and also a large pool elderly in the region.
Overall, the North America wheelchair market is dynamic in nature. This is because of the increasing mergers and acquisitions owing to players efforts to further bolster their positions. Already, the market is consolidated with the handful of leading players accounting for a substantial share in the market. Savvy players in the market are also seen focusing on improving their distribution networks and carrying out various awareness generation programs.
Currently, the U.S. mainly powers the North America wheelchair market – it already accounts for a significant share in it. This is because of an alarming rise in the number of differently-abled people in the country and generous government funding. High spending capacity of people, presence of numerous manufacturers unveiling more effective products every now and then, and a superior healthcare infrastructure has also helped the market in North America.
North America Wheelchair Accessible Vehicle Converters Market: Overview
The North America wheelchair accessible vehicle converters market is envisaged to testify industry players taking to the introduction of advanced and novel products as part of their core strategic expansion plans. The market could also see the rise of mergers and acquisitions as players look to cement their status in the industry. In terms of entry modality, ramps could secure a dominating share in the market due to their relatively low maintenance and installation expenses and ease of use. By entry mode, the market could witness the dominance of side entry vehicles expansively demanded in the region due to the improving development rate of manufacturers supported by increased consumer spending.
North America Wheelchair Accessible Vehicle Converters Market: Key Trends
The North America wheelchair accessible vehicle converters market is foreseen to cash in on growth opportunities birthing from the rising count of differently-abled people. Over the past few years, the market has been showcasing a promising growth for players to bank on. The increase in the introduction of inexpensive mobility gadgets and swelling need for accessible vehicles that are user friendly could be among the primary reasons for the growth witnessed in the market. In the near future, players could be lavished upon favorable growth prospects arising due to increasing geriatric population and escalating count of trauma cases causing disabilities.
As per type of vehicle, full-size vehicle is expected to account for a lion’s share in the North America wheelchair accessible vehicle converters market. This could be because of the rising purchase of wheelchair accessible vehicles among families with differently-abled members.
North America Wheelchair Accessible Vehicle Converters Market: Market Potential
An outdoor mobility vehicle solution has been planned to be launched commercially in 2018 by three founders of NeoMotion, known as ‘Team Aseem.’ Enable Makeathon of the International Committee of the Red Cross (ICRC) had incubated their venture in 2016. An easy and a quick external attachment for manual wheelchairs has been designed by the startup which could convert them into outdoor mobility devices capable of traveling to long distances. In order to meet the needs of users, the attachment will be made available in both motorized and manual (hand cycle) mode.
North America Wheelchair Accessible Vehicle Converters Market: Regional Outlook
The U.S. is anticipated to continue with its lead secured in the recent past. In 2015, the country had attained a colossal share in the North America wheelchair accessible vehicle converters market. Owing to the presence of a large number of differently-abled people in the country, the U.S. could maintain its lead in the market for the coming years. The U.S. market for wheelchair accessible vehicle converters is also foretold to gain momentum from the increase in government funding.
Several governments around the globe have been boosting the sale of wheelchair accessible vehicles with their strong funding. Furthermore, a mounting count of initiatives taken by manufacturers to increase awareness about wheelchair accessible vehicle converters could add to the growth of the market.
North America Wheelchair Accessible Vehicle Converters Market: Competitive Landscape
Powerful players, viz. BraunAbility, Vantage Mobility International, and Mobility Ventures LLC are prophesied to take a leading position in the North America wheelchair accessible vehicle converters market. Experienced analysts predict the market’s vendor landscape to hold a highly competitive and a moderately fragmented nature.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report