The global vehicles for disabled market are estimated to grow from USD 2.6 billion in 2019 to reach USD 6.3 billion by 2027, at a CAGR of 11.7%
Increasing population of aged people and various schemes provided by governments of various countries to disabled people are significant factors for the growth of the vehicles for disabled market globally.
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NEW YORK, Nov. 12, 2019 /PRNewswire/ -- The global vehicles for disabled market are estimated to grow from USD 2.6 billion in 2019 to reach USD 6.3 billion by 2027, at a CAGR of 11.7%. Increasing emphasis on providing equality to disabled people in terms of accessibility & mobility solutions and improving healthcare infrastructure in developing countries is expected to boost market growth. However, high cost and lack of medical reimbursement are considered as market restraining factors for the growth of it.
Increasing demand for mobility solutions for disabled people which helps in independently performing the routine basic tasks to propel the growth of mobility scooter segment during the forecast period
The mobility scooter segment is projected to be the fastest-growing segment during the forecast period.Mobility scooters are a good substitute for wheelchairs to travel short distances and perform routine tasks independently by disabled people.
Regional governments are also improving infrastructure and providing various schemes & subsidies to disabled people on purchase of mobility scooters. In addition, availability of mobility scooters in different designs, styles, and advancing features (due to various research & developments by OEMs to provide latest technologies to enable disabled people to drive with more ease and comfort) has increased the attention of users towards mobility scooters.
Asia Pacific market is expected to register the fastest growth during the forecast period
Asia Pacific is expected to witness the fastest growth, followed by Europe and North America.The vehicles for disabled market in the region is inclined towards improving healthcare infrastructure, increasing awareness among patient, and rising disposable income.
The increasing population of disabled people in Asia Pacific is expected to propel the growth.
North America is expected to be the largest market during the forecast period
North America is expected to be the largest market, followed by Europe.The increasing demand for mobility solutions and an increase in the sense of independence among disabled people have propelled the growth of this market.
The various government policies & schemes, helping the disabled people to purchase such vehicles is fueling the growth of the market.North America is home to many global leaders such as for adaptive four wheelers-Vantage Mobility International, BraunAbility, Revability, and Mobility Works.
The vehicle for disabled market in mobility scooter is led by various US-based manufacturers such as Pride Mobility, Invacare, and Amigo Mobility International. Thus, the region has a high sales volume, especially for mobility scooter segment.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: OEM - 33%, Third Party- 67%
• By Designation: C Level - 33%, Directors Level - 42%, and Others - 25%
• By Region: North America - 25%, Europe - 58%, and Asia Pacific - 17%
The vehicle for disabled market in adaptive four-wheeler is led by globally and regionally established players such as Toyota Motor Corporation (Japan), Vantage Mobility International (US), BraunAbility (US), Revability (US), and Mobility Works (US). The vehicle for disabled market in mobility scooter is led by globally and regionally established players such as Pride Mobility (US), Sunrise Medical Holdings (Germany), Invacare (US), KYMCO Global (Taiwan), and Amigo Mobility International (US).
Research Coverage:
The market study covers the vehicles for disabled market across segments.It aims at estimating the market size and future growth potential of this market across different segments such as the vehicle type, manufacturer type, entry configuration, entry mechanism, driving option, ownership, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall vehicles for disabled market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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