Stair Lifts And Climbing Devices Market Size, Share & Trends Report

Stair Lifts And Climbing Devices Market Size, Share & Trends Analysis Report By Device (Stair Lifts, Stair Climbing Wheelchairs), By End Use (Hospitals, Homecare), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-487-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 110

Report Overview

The global stair lifts and climbing devices market size was valued at USD 1.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028. The market is projected to witness critical growth on account of the rise in the number of injured people and increasing disability in senior adults. According to the world report on disability 2011 by the World Health Organization (WHO), about 15% of the world population is suffering from some form of disability who are in need of mobility aids, which can give independence to people and reduce pain. There are various items such as stair lifts, wheelchairs, and climbing canes that are intended to assist individuals with restricted portability to move around freely and autonomously.

U.S. stair lifts and climbing devices market size, by device, 2018 - 2028 (USD Million)

These devices are easy to use and provide effective mobility solutions to people. In recent years, stair lifts have become a popular choice for the elderly and people with limited mobility. A stair lift is fundamentally an engine-controlled wheelchair on rails. They are fabricated to work on the 'pinion and racks' innovation, empowering wheelchair-bound individuals or people with portability issues to utilize flights of stairs and steps effortlessly.

COVID-19 keeps on making market growth unsure, and consequently, momentary demand is hard to anticipate. In any case, upheld by the appealing basic long haul development essentials that portray the accessibility of the market and expected market recovery, the market sees emphatically on the advancement post-COVID-19. Due to the pandemic, almost certainly, the end users will not have the option to spend a sufficient measure of upfront expense on stair lifts. Global sellers like Handicare group are taking a few measures to adjust the circumstance by making vital changes, like considerable expense decrease and a decline production limit.

Technological advancements, like outdoor, curved, and wheelchair-incorporated lifts, are expected to boost the market growth. Sellers are probably going to positively affect the market by giving free conveyance and various financing alternatives to purchasers. The expanding accessibility of these machines in the market is projected to reinforce the interest during the forecast period.

Today, numerous individuals know about the upsides of stair lifts, which has prompted expanded demand for this versatility equipment. With trend-setting innovation, step lifts with a wide scope of helpful highlights like movable seats, collapsing step, flip-up rail, battery segregation switches, call stations, speed regulator, safety belts, delicate stop button, and so forth are currently accessible on the lookout.

According to the WHO, 2 billion people of the world's population are expected to be aged 60 years by 2050. This shows that the demand for stair lifts is expected to increase later on. However, this development might be deterred by the expanded expense brought about in the purchase and establishment of stair lifts. The normal expense for purchasing a straight stair lift is around USD 3, 000 to USD 4,000 and the cost of bent stair lifts and those with extra in-assembled highlights is around USD 15,000 - substantially more costly than the straight stair lift.

Device Insights

The stair lifts segment dominated the overall market and accounted for a revenue share of 57.8% in 2020. The old population and disabled people can easily access and move the equipment. More seniors are seeing the value of aging in place, frequently looking for products that allow them to remain independent in their homes.

They are the perfect solution and include a lot of possible features to meet the needs of users. Besides, its ability to be fitted on almost any staircase makes it more adaptable at home whether indoor or outdoor. Some players, for instance, Handicare provide custom-designed stair lifts, ensuring a tight fit without sacrificing safety.

End-use Insights

The homecare segment accounted for the largest share of 64.4% in 2020 and is likely to remain dominant in the coming future. A major factor that influences the stair lifts market for homecare is the ability of the devices to safely and quickly move from one place to another without the help of any other person.

The hospitals segment is projected to register the fastest growth rate of 9.1% over the forecast period. The stair lift is mainly required for the transportation of patients when going up and downstairs in the hospital. Low mobility entrances and stairs can make it very tricky to gain access to the hospital. As per the Disability Discrimination Act (DDA) 2005, it is essential and a legal requirement to have fully functional accessibility systems within the healthcare facility whether a private or public NHS hospital.

Regional Insights

North America dominated the market in 2020 with a share of 43.9%. In North America, the increasing prevalence of individuals experiencing disability and technological advancements are key factors driving the market. According to a report of the United States Census Bureau in 2018, the elderly population in America will be around 1 billion by 2030. This is a large number and hence, the demand for stair lifts or climbing devices is expected to increase in the coming future.

Global stair lifts and climbing devices market share, by region, 2020 (%)

Asia Pacific is expected to exhibit the fastest growth rate of 10.2% over the forecast period. According to the United Nations (UN) estimates, Asia Pacific is home to almost 60% of the world's 650 million disabled people. Besides, the presence of well-established market players in the region is anticipated to support the market growth.

Key Companies & Market Share Insights

The companies are improving the product offering by utilizing vital cooperative drives and are involved in acquisitions to grow their client base further and gain a portion of the overall industry. For instance, in November 2020, Stannah launched an e-commerce site that allows customers to purchase a stair lift online. Within 82 minutes, the company had secured its first sale and marked the successful introduction of a valuable alternative sale channel. In addition, in December 2019, Harmar Mobility acquired the versatility gadget lift item division from Pennsylvania-based Pride Mobility. Some prominent players in the global stair lifts and climbing devices market include:

  • Brooks Stairlifts

  • Stannah

  • Handicare Group

  • Garaventa Lift

  • Acorn Stairlifts

  • Platinum Stairlifts

  • Bruno Independent Living Aids

  • ThyssenKrupp Elevator Technology

  • American Elevator

  • Precision Stairlifts

Stair Lifts And Climbing Devices Market Report Scope

Report Attribute

Details

Market Size value in 2021

USD 1.9 billion

Revenue forecast in 2028

USD 3.4 billion

Growth Rate

CAGR of 8.9% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Device, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; India; Japan; China; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Brooks Stairlifts; Stannah; Handicare Group; Garaventa Lift; Acorn Stairlifts; Precision Stairlifts; Bruno Independent Living Aids; ThyssenKrupp Elevator Technology; Platinum Stairlifts; American Elevator

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global stair lifts and climbing devices market report on the basis of device, end-use, and region:

  • Device Outlook (Revenue, USD Million, 2016 - 2028)

    • Stair Lifts

      • Straight

      • Curved

      • Inclined Platform

    • Stair Climbing Wheelchairs

      • Manual

      • Powered

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Homecare

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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