Stair lift market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global stair lift market size is estimated to grow by USD 252.51 million from 2022 to 2027. However, the growth momentum of the market will decelerate at a CAGR of 4.65%. North America will account for 41% of the growth of the global market during the forecast period. 

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Global stair lift market - Five forces
The global stair lift market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For interpretation of Porter's five forces model – buy the report!

Global stair lift market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global stair lift market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (straight and curved) and end-user (residential, healthcare, and others). 

• The straight segment will grow at a significant rate during the forecast period. A straight stair lift provides a straight path from one level to another and has a rail that can be customized to fit the length of the stairs. Most stair lifts have a chair that is designed to rotate at the top for a safe exit. Such features will drive the growth of the straight stair lift segment during the forecast period.

Geography overview
Based on geography, the global stair lift market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global stair lift market.

• North America is estimated to account for 41% of the growth of the global market during the forecast period. The rising prevalence of chronic diseases, the strong presence of key players, the growing awareness regarding safe patient handling, and high healthcare expenditure will drive the growth of the regional market. Vendors are adopting various market strategies, such as M&A and partnerships with distributors, to strengthen their market presence. These factors will drive the growth of the market in the region.

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Global stair lift market – Market dynamics
Key factor driving market growth

• The growing prevalence of disabilities is driving the stair lift market growth.
• Diseases and conditions such as osteoarthritis, osteoporosis, and fractures can lead to disabilities, especially mobility-related impairments.
• Thus, the growing prevalence of mobility-related disabilities will increase the demand for stair lifts.
• The geriatric population is more prone to disorders such as arthritis and osteoporosis. It is also more likely to experience spinal cord injuries.
• These factors will further propel the growth of the global stair lift market during the forecast period.

Leading trends influencing the market 

• The growing investment in developing countries is a key trend in the market.
• Improvements in healthcare infrastructure in countries such as India, China, Indonesia, Brazil, and Argentina are expected to drive the adoption of stair lifts in hospitals, ambulatory surgery centers, and other healthcare facilities.
• In addition, the outbreak of the COVID-19 pandemic resulted in a shortage of medical services and capabilities, which compelled governments to accelerate investments in the healthcare industry.
• The construction of new healthcare facilities, such as hospitals, will create opportunities for the installation of new stair lifts.
• These factors, in turn, will support the growth of the global stair lift market during the forecast period.

Major challenges hindering market growth

• Pricing risk in certain markets may impede the stair lift market growth.
• Fluctuations in prices are generally caused by several factors, such as short-term variations in demand, a shortage or surplus supply of products, uncertainty in local economic conditions, import-related regulations, and intense competition.
• End-users need to spend on equipment cost, installation cost, maintenance cost, and purchase of related accessories.
• In addition, the motors for operating stair lifts should be replaced after every 10 years.
• These factors are expected to hinder the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this stair lift market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the stair lift market between 2023 and 2027
• Precise estimation of the size of the stair lift market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the stair lift market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Stair Lift Market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global stair lift market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global stair lift market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Straight - Market size and forecast 2022-2027
• Exhibit 34: Chart on Straight - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Straight - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Straight - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Straight - Year-over-year growth 2022-2027 (%)

• 6.4 Curved - Market size and forecast 2022-2027
• Exhibit 38: Chart on Curved - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Curved - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Curved - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Curved - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Residential - Market size and forecast 2022-2027
• Exhibit 47: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 7.4 Healthcare - Market size and forecast 2022-2027
• Exhibit 51: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 59: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027
• Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Acorn Stairlifts Inc. 
• Exhibit 112: Acorn Stairlifts Inc. - Overview
• Exhibit 113: Acorn Stairlifts Inc. - Product / Service
• Exhibit 114: Acorn Stairlifts Inc. - Key offerings

• 12.4 Bruno Independent Living Aids Inc. 
• Exhibit 115: Bruno Independent Living Aids Inc. - Overview
• Exhibit 116: Bruno Independent Living Aids Inc. - Product / Service
• Exhibit 117: Bruno Independent Living Aids Inc. - Key offerings

• 12.5 Electra Taamal 
• Exhibit 118: Electra Taamal - Overview
• Exhibit 119: Electra Taamal - Product / Service
• Exhibit 120: Electra Taamal - Key offerings

• 12.6 Harmar Mobility LLC 
• Exhibit 121: Harmar Mobility LLC - Overview
• Exhibit 122: Harmar Mobility LLC - Product / Service
• Exhibit 123: Harmar Mobility LLC - Key offerings

• 12.7 HIRO LIFT Hillenkotter and Ronsieck GmbH
• Exhibit 124: HIRO LIFT Hillenkotter and Ronsieck GmbH - Overview
• Exhibit 125: HIRO LIFT Hillenkotter and Ronsieck GmbH - Product / Service
• Exhibit 126: HIRO LIFT Hillenkotter and Ronsieck GmbH - Key offerings

• 12.8 Lehner Lifttechnik GmbH 
• Exhibit 127: Lehner Lifttechnik GmbH - Overview
• Exhibit 128: Lehner Lifttechnik GmbH - Product / Service
• Exhibit 129: Lehner Lifttechnik GmbH - Key offerings

• 12.9 Otolift Stairlifts Ltd. 
• Exhibit 130: Otolift Stairlifts Ltd. - Overview
• Exhibit 131: Otolift Stairlifts Ltd. - Product / Service
• Exhibit 132: Otolift Stairlifts Ltd. - Key offerings

• 12.10 Platinum Stairlifts Ltd. 
• Exhibit 133: Platinum Stairlifts Ltd. - Overview
• Exhibit 134: Platinum Stairlifts Ltd. - Product / Service
• Exhibit 135: Platinum Stairlifts Ltd. - Key offerings

• 12.11 Prism UK Medical Ltd. 
• Exhibit 136: Prism UK Medical Ltd. - Overview
• Exhibit 137: Prism UK Medical Ltd. - Product / Service
• Exhibit 138: Prism UK Medical Ltd. - Key offerings

• 12.12 Qingdao Sinofirst Machinery Co. Ltd. 
• Exhibit 139: Qingdao Sinofirst Machinery Co. Ltd. - Overview
• Exhibit 140: Qingdao Sinofirst Machinery Co. Ltd. - Product / Service
• Exhibit 141: Qingdao Sinofirst Machinery Co. Ltd. - Key offerings

• 12.13 Savaria Corp. 
• Exhibit 142: Savaria Corp. - Overview
• Exhibit 143: Savaria Corp. - Business segments
• Exhibit 144: Savaria Corp. - Key offerings
• Exhibit 145: Savaria Corp. - Segment focus

• 12.14 Secom Co. Ltd. 
• Exhibit 146: Secom Co. Ltd. - Overview
• Exhibit 147: Secom Co. Ltd. - Business segments
• Exhibit 148: Secom Co. Ltd. - Key offerings
• Exhibit 149: Secom Co. Ltd. - Segment focus

• 12.15 Stannah Group of Co. 
• Exhibit 150: Stannah Group of Co. - Overview
• Exhibit 151: Stannah Group of Co. - Product / Service
• Exhibit 152: Stannah Group of Co. - Key offerings

• 12.16 SUGIYASU Co. Ltd. 
• Exhibit 153: SUGIYASU Co. Ltd. - Overview
• Exhibit 154: SUGIYASU Co. Ltd. - Product / Service
• Exhibit 155: SUGIYASU Co. Ltd. - Key offerings

• 12.17 Symax Lift Holding Co. Ltd. 
• Exhibit 156: Symax Lift Holding Co. Ltd. - Overview
• Exhibit 157: Symax Lift Holding Co. Ltd. - Product / Service
• Exhibit 158: Symax Lift Holding Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 159: Inclusions checklist
• Exhibit 160: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 161: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 162: Research methodology
• Exhibit 163: Validation techniques employed for market sizing
• Exhibit 164: Information sources

• 13.5 List of abbreviations 
• Exhibit 165: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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