The market size of the Stair Lifts and Climbing Devices Market was held at around US$ 2 Billion in 2022 and is expected to grow with a CAGR of 12% from 2023 to 2033. The growing elderly population, as well as technological advancements in lifts, are boosting the market. Stair Lifts and Climbing Devices Market accounted for an absolute dollar opportunity of nearly US$ 4.7 Billion from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Stair Lifts and Climbing Devices Market (2023) | US$ 2.2 Billion |
| Global Stair Lifts and Climbing Devices Market (2033) | US$ 6.9 Billion |
| Global Stair Lifts and Climbing Devices Market CAGR (2023 to 2023) | 12% |
| The USA Stair Lifts and Climbing Devices Market CAGR (2023 to 2023) | 13% |
| Key Companies Profiled |
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As per the Stair Lifts and Climbing Devices Market industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 10% CAGR. The market is projected to grow at a CAGR of 12% over the coming ten years.
Stairlifts are simple to operate and provide people with efficient mobility alternatives. Stairlifts have been increasingly getting popular among the elderly and those with restricted mobility in recent years. A stair lift is a wheelchair with rails that are driven by an engine. They are made to function with the pinion and racks technology, allowing wheelchair users and anyone with mobility challenges to easily navigate flights of stairs and steps.
Stair lifts feature a variety of useful features, such as adjustable seats, collapsible steps, flip-up rails, battery segregation switches, call stations, speed regulators, safety belts, and delicate stop buttons.
Arthritis affects more than 350 million individuals worldwide. According to the United Nations, by 2050, those over the age of 60 will make up more than 20% of the world's population. This indicates that the demand for stair lifts is projected to rise in the future. However, the increased cost of purchasing and installing stairlifts may dissuade this trend.
Osteoarthritis is expected to become the fourth largest cause of global disability, owing to rising life expectancy and rising obesity rates. Growing technology in healthcare equipment, especially mobility products like wheelchairs and stairlifts, is expected to have a significant impact on market growth.
The market is projected to develop due to technological advancements such as outdoor, curved, and wheelchair-integrated lifts. By providing free conveyance and numerous financing options to buyers, sellers are most likely to have a favorable impact on the market. During the projection period, the increasing availability of these machines in the market is expected to fuel market growth.
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In 2022, North America accounted for a significant revenue of the global stair lifts and climbing devices market. The market in North America is being driven by an increase in the number of people who are disabled and technical improvements. According to a projection released by the United States Census Bureau in 2018, America's elderly population will reach 1 billion people by 2030. As a result of this, demand for stair lifts and climbing equipment is projected to escalate significantly. Manufacturers of stairlifts and climbing devices are focusing on incorporating technologically advanced components into their products.
The USA is expected to account for a market of US$ 2.7 Billion by 2033 and is expected to grow with a CAGR of 13% during the forecast period. A vast majority of people in the United States rely heavily on online shopping to purchase a variety of products. Because of the growing popularity of e-commerce, stair lifts and climbing devices are now easier to trade, and several companies have started to sell refurbished stair lifts.
The utilization of rising digital trends such as virtual reality and 3D imaging in the development of utilized stair lifts improves the quality of the product. Customers can also visualize how the stairs will look once they are installed using 3D imaging. Furthermore, by boosting the measuring speed, the virtual reality devices optimize the stair lift installation, allowing for additional room for visualization of graphical characteristics like rail color.
The stair lift and climbing devices market in the United States is expected to increase rapidly due to this and is projected to experience an absolute dollar growth of US$ 1.9 Billion from 2023 to 2033.
The market in The United Kingdom is expected to reach a valuation of US$ 301 Million by 2033. Growing with a CAGR of 11.8% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around US$ 202 Million.
In Japan, the market is expected to grow at a CAGR of 10.2% from 2023 to 2033, reaching around US$ 263.5 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 165.2 Million during the forecast period.
The market in South Korea is expected to reach a valuation of around US$ 135.1 Million by 2033, growing at a CAGR of 11.4% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around US$ 89.2 Million.
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Due to the patient’s physical limitations that prevent them from climbing stairs, the need for indoor stair lifts is likely to rise in medical facilities. For the ease and convenience they provide, they are likely to acquire favor in corporate settings. This is also projected to grow in popularity in the residential sector since it reduces stairwell obstructions, allowing users to quickly access the staircase and complete duties.
Manufacturers' distinctive offers are anticipated to contribute to market growth. Consumers can get stair lifts at no extra cost from several manufacturers, and they can finance them in a variety of ways. Vendors are also focusing on delivering high-value services and customer-centric solutions. Dealers will identify customers’ preferences, which will help boost product sales.
Due to the expanding aging population with limited mobility, the residential sector is likely to dominate the market. For the senior population, the deployment provides cost-effective and timely solutions. Furthermore, these mobility solutions reduce the risk of falling, and innovative technology assists users in operating these lifts efficiently and allowing them to move around the house autonomously.
Since they are simple to install, straight rails are generally used in the residential sector. They are expected to become more popular among the elderly, as they allow people to enter and exit safely and at a minimal cost.
In the residential sector, seated stair lifts are recommended. The adoption allows users to move around their homes with ease at various levels. The elderly population's increased musculoskeletal issues are expected to drive up the demand. Due to the rise in people suffering from joint stiffness, illnesses, and hip and knee discomfort, the need for standing stair lifts will continue to climb.
The key players in the global Stair Lifts and Climbing Devices market are Brooks Stairlifts, Stannah, Handicare Group, Garaventa Lift, and Acorn Stairlifts.
The market is estimated to be valued at US$ 2.2 billion.
Brooks Stairlifts, Handicare Group, and Stannah are the key players in the market.
The market is estimated to reach 6.9 billion by 2033.
The Market secured a CAGR of 10% from 2018 to 2022.
North America emerged as a lucrative market.
1. Executive Summary | Stair Lifts and Climbing Devices Market 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ million) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background and Foundation Data Points 4.1. Global Market (US$ million) 4.2. Market Opportunity Assessment (US$ million) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Global Market Growth 4.5.3. Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6.1. Historical Market Analysis, 2018 to 2022 6.2. Current and Future Market Projections, 2023 to 2033 6.3. Y-o-Y Growth Trend Analysis 7. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033 7.1. Historical Market Value (US$ million) Analysis, 2018 to 2022 7.2. Current and Future Market Value (US$ million) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ million) Analysis By Type, 2018 to 2022 8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Type, 2023 to 2033 8.3.1. Stair Lifts 8.3.2. Stair Climbing Wheelchairs 8.3.3. Other Types 8.4. Market Attractiveness Analysis By Type 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ million) Analysis By End-Use, 2018 to 2022 9.3. Current and Future Market Size (US$ million) Analysis and Forecast By End-Use, 2023 to 2033 9.3.1. Hospitals 9.3.2. Homecare 9.3.3. Other End-uses 9.4. Market Attractiveness Analysis By End-Use 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. Introduction 10.2. Historical Market Size (US$ million) Analysis By Region, 2018 to 2022 10.3. Current Market Size (US$ million) & Analysis and Forecast By Region, 2023 to 2033 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2023 to 2033 11.4.1. By Country 11.4.1.1. The USA 11.4.1.2. Canada 11.4.1.3. Rest of North America 11.4.2. By Type 11.4.3. By End-Use 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Type 11.5.3. By End-Use 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2023 to 2033 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Type 12.4.3. By End-Use 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Type 12.5.3. By End-Use 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2023 to 2033 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. France 13.4.1.3. The United Kingdom 13.4.1.4. Italy 13.4.1.5. Benelux 13.4.1.6. Nordic Countries 13.4.1.7. Rest of Europe 13.4.2. By Type 13.4.3. By End-Use 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Type 13.5.3. By End-Use 14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2023 to 2033 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.1.4. Rest of Asia Pacific 14.4.2. By Type 14.4.3. By End-Use 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Type 14.5.3. By End-Use 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2023 to 2033 15.4.1. By Country 15.4.1.1. GCC Countries 15.4.1.2. South Africa 15.4.1.3. Turkey 15.4.1.4. Rest of Middle East and Africa 15.4.2. By Type 15.4.3. By End-Use 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Type 15.5.3. By End-Use 16. Key Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16.1. Introduction 16.1.1. Market Value Proportion Analysis, By Key Countries 16.1.2. Global Vs. Country Growth Comparison 16.2. US Market Analysis 16.2.1. Value Proportion Analysis by Market Taxonomy 16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.2.2.1. By Type 16.2.2.2. By End-Use 16.3. Canada Market Analysis 16.3.1. Value Proportion Analysis by Market Taxonomy 16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.3.2.1. By Type 16.3.2.2. By End-Use 16.4. Mexico Market Analysis 16.4.1. Value Proportion Analysis by Market Taxonomy 16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.4.2.1. By Type 16.4.2.2. By End-Use 16.5. Brazil Market Analysis 16.5.1. Value Proportion Analysis by Market Taxonomy 16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.5.2.1. By Type 16.5.2.2. By End-Use 16.6. Germany Market Analysis 16.6.1. Value Proportion Analysis by Market Taxonomy 16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.6.2.1. By Type 16.6.2.2. By End-Use 16.7. France Market Analysis 16.7.1. Value Proportion Analysis by Market Taxonomy 16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.7.2.1. By Type 16.7.2.2. By End-Use 16.8. Italy Market Analysis 16.8.1. Value Proportion Analysis by Market Taxonomy 16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.8.2.1. By Type 16.8.2.2. By End-Use 16.9. BENELUX Market Analysis 16.9.1. Value Proportion Analysis by Market Taxonomy 16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.9.2.1. By Type 16.9.2.2. By End-Use 16.10. UK Market Analysis 16.10.1. Value Proportion Analysis by Market Taxonomy 16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.10.2.1. By Type 16.10.2.2. By End-Use 16.11. Nordic Countries Market Analysis 16.11.1. Value Proportion Analysis by Market Taxonomy 16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.11.2.1. By Type 16.11.2.2. By End-Use 16.12. China Market Analysis 16.12.1. Value Proportion Analysis by Market Taxonomy 16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.12.2.1. By Type 16.12.2.2. By End-Use 16.13. Japan Market Analysis 16.13.1. Value Proportion Analysis by Market Taxonomy 16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.13.2.1. By Type 16.13.2.2. By End-Use 16.14. South Korea Market Analysis 16.14.1. Value Proportion Analysis by Market Taxonomy 16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.14.2.1. By Type 16.14.2.2. By End-Use 16.15. GCC Countries Market Analysis 16.15.1. Value Proportion Analysis by Market Taxonomy 16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.15.2.1. By Type 16.15.2.2. By End-Use 16.16. South Africa Market Analysis 16.16.1. Value Proportion Analysis by Market Taxonomy 16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.16.2.1. By Type 16.16.2.2. By End-Use 16.17. Turkey Market Analysis 16.17.1. Value Proportion Analysis by Market Taxonomy 16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033 16.17.2.1. By Type 16.17.2.2. By End-Use 16.17.3. Competition Landscape and Player Concentration in the Country 17. Market Structure Analysis 17.1. Market Analysis by Tier of Companies 17.2. Market Concentration 17.3. Market Share Analysis of Top Players 17.4. Market Presence Analysis 17.4.1. By Regional footprint of Players 17.4.2. Product footprint by Players 18. Competition Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Competition Deep Dive 18.3.1. Brooks Stairlifts 18.3.1.1. Overview 18.3.1.2. Product Portfolio 18.3.1.3. Sales Footprint 18.3.1.4. Strategy Overview 18.3.2. Stannah 18.3.2.1. Overview 18.3.2.2. Product Portfolio 18.3.2.3. Sales Footprint 18.3.2.4. Strategy Overview 18.3.3. Handicare Group 18.3.3.1. Overview 18.3.3.2. Product Portfolio 18.3.3.3. Sales Footprint 18.3.3.4. Strategy Overview 18.3.4. Garaventa Lift 18.3.4.1. Overview 18.3.4.2. Product Portfolio 18.3.4.3. Sales Footprint 18.3.4.4. Strategy Overview 18.3.5. Acorn Stairlifts 18.3.5.1. Overview 18.3.5.2. Product Portfolio 18.3.5.3. Sales Footprint 18.3.5.4. Strategy Overview 18.3.6. Platinum Stairlifts 18.3.6.1. Overview 18.3.6.2. Product Portfolio 18.3.6.3. Sales Footprint 18.3.6.4. Strategy Overview 18.3.7. Bruno Independent Living Aids 18.3.7.1. Overview 18.3.7.2. Product Portfolio 18.3.7.3. Sales Footprint 18.3.7.4. Strategy Overview 18.3.8. ThyssenKrupp Elevator Technology 18.3.8.1. Overview 18.3.8.2. Product Portfolio 18.3.8.3. Sales Footprint 18.3.8.4. Strategy Overview 18.3.9. American Elevator 18.3.9.1. Overview 18.3.9.2. Product Portfolio 18.3.9.3. Sales Footprint 18.3.9.4. Strategy Overview 18.3.10. Precision Stairlifts 18.3.10.1. Overview 18.3.10.2. Product Portfolio 18.3.10.3. Sales Footprint 18.3.10.4. Strategy Overview 19. Assumptions and Acronyms Used 20. Research Methodology
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Stair Lifts and Climbing Devices Market
