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.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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