NEW YORK, July 14, 2015 /PRNewswire/ -- Electric wheelchairs are the battery powered wheelchairs which do not require any external human assistance for mobility. The user alone can control the movements with various input devices such as joysticks, touch pads and other devices. Electric wheelchairs provide multiple functionalities to assist the user in both indoor and outdoor activities with nominal human effort. Electric wheelchairs are not only used by people with traditional mobility impairments but also by those with cardiovascular conditions. Electric wheelchairs are sophisticated products and reflect to the lifestyle of the users.
The global electric wheelchair market is expected to witness substantial growth during the forecast period. The increase in aging population globally is stimulating the growing demand for electric wheelchair. In addition, the growing demand for advanced wheelchairs from the sports industry is also influencing the growth of this market. Need for automated mobility for disabled and elderly population, while performing regular tasks is also contributing to the growth in demand for electric wheelchairs globally. High disposable income in countries such as the U.S., Canada, the U.K., France, Italy, Germany, and Japan is influencing a positive growth to the electric wheelchair market.
The developing economies like India, China, Brazil, Indonesia and others are expected to generate further demand for electric wheelchairs in the future. With technological advancement in the electric wheelchair industry, new products are being developed by the manufacturers with better efficiencies, functionalities and customization. The sports industry has recently seen participation of disabled people in wheelchair based games, both indoor and outdoor. Thus, a major share of the electric wheelchair market is boosted by the demand from the sports industry globally. There are some challenges which the industry faces and few of those have high impacts presently such as lack of awareness and infrastructure. However, it is expected that the impacts of these factors is expected to reduce during the forecast period.
In this report, the market has been segmented based on product type and geography. It also includes drivers, restraints and opportunities (DROs), Porter's five forces analysis and value chain of the electric wheelchair market. The study highlights current market trends and provides the forecast from 2014 to 2020. The report covers the current market scenario for electric wheelchairs and highlights future trends that could affect the demand for the same. The global electric wheelchair market is expected to observe a steady growth rate from 2014-20120 at a very high CAGR.
By geography, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Based on the product types, the market has been categorized into front wheel drive wheelchairs, center wheel drive wheelchairs, rear wheel drive wheelchairs and standing electric wheelchairs. The market size and forecast from 2014 to 2020 have been provided in the report.
The report also analyzes macroeconomic factors influencing and inhibiting the growth of the electric wheelchair market. Porter's five forces analysis offers insight into the market competition throughout its value chain. The market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers and distributors understand the present and future trends in this market and formulate their strategies accordingly.
This study includes the profiles of key players in the market and the strategies adopted by them to sustain in the competition. Recent developments and barriers of the market is expected to help emerging players to design their strategies in an effective manner. The study is expected to help key players in broadcast electric wheelchair manufacturers to formulate and develop new strategies. The key participants in this market are Invacare Corp., Pride Mobility Products Corp., Sunrise Medicals, Permobil Corp., Handicare, Ottobock Healthcare GmbH, Medort, Drive Medicals Ltd., Hoveround Corp.
Global Electric Wheelchair Market: By Product Types
Front Wheel Drive electric wheelchair
Center Wheel Drive electric wheelchair
Rear Wheel Drive electric wheelchair
Standing electric wheelchair
Global Electric Wheelchair Market: By Geography
Rest of the world (RoW)
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