Stair Lifts Market
Stair Lifts Market by Product (Straight Stair Lifts, Curved Stair Lifts) by Application (Residential, Industrial Manufacturing, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
The global Stair Lifts market was valued at USD 1.24 Billion in 2020 and is projected to reach USD 2.16 Billion by 2028, growing at a CAGR of 7.21% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2026|
|Annual Market Size (2028)||2.16 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||7.21%|
Definition and Overview
A stair lift is a mechanical device for lifting people, typically those with disabilities, and face issues with using up and down stairs. For sufficiently wide stairs, a rail is mounted to the treads of the stairs. A chair or lifting platform is attached to the rail. A person can get onto the chair or platform and is lifted up or down the stairs by the chair which moves along the rail.
The global Stair Lifts market report provides exhaustive analysis on segments, regions/countries, companies, and such several strategic marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others. The report covers market size and estimations for each segment/region/country for the years 2016–2028. It provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. Moreover, the report includes a thorough analysis on competitive landscape comprising of extensive company profiles based on various parameters such as company overview, market revenue, business, product portfolio, and marketing strategies among others.
COVID-19 Impact Analysis
Outbreak of COVID-19 in 2020 compelled governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to restrict swift spread of COVID-19. However, these actions had a drastic impact on the global economy, as the companies across the globe were forced to either close or partially closed their operations, leading to supply chain disruptions and impairing of various industries. Moreover, in 2021 several key markets such as U.S., India, and Brazil among other witnessed second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
Global Stair Lifts Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Product, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Arrow Lift, StepUp, EHLS, Handicare, AmeriGlide, Ascent Stairlifts, HIRO LIFT, Improvement Center, 101 Mobility, Acorn Stair Lifts, Savaria, Harmar, Stannah, Bruno, HomeAdvisor, Mobile Stairlift|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Product, Application and region. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities.
On the basis of Product, the market is divided into Straight Stair Lifts, Curved Stair Lifts. Straight Stair Lifts is expected to dominate the market and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Application, the market is divided into Residential, Industrial Manufacturing, Others. Residential attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Stair Lifts Market: Product Segment Analysis
- Straight Stair Lifts
- Curved Stair Lifts
Global Stair Lifts Market: Application Segment Analysis
- Industrial Manufacturing
Regional Analysis: Preview
Geographically, the global Stair Lifts market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The regional analysis section provides extensive analysis on various factors impacting market growth such as economies, industry competition, technological advancements, import-export ratio, and raw material availability among others. Moreover, the same section will provide your detailed qualitative as well as quantitative analysis for each region country comprising of market size and estimations for each region/country. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. Asia Pacific is anticipated to dominate the global market during upcoming years.
Market Size, 2021 (USD Billion)
Global Stair Lifts Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Major players in the global Stair Lifts market are Arrow Lift, StepUp, EHLS, Handicare, AmeriGlide, Ascent Stairlifts, HIRO LIFT, Improvement Center, 101 Mobility, Acorn Stair Lifts, Savaria, Harmar, Stannah, Bruno, HomeAdvisor, Mobile Stairlift. The global Stair Lifts market report analyzes competitive scenario in detail that includes extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. In addition to that, the report also covers company market share for the year 2020 along with in depth strategic developments.
Global Stair Lifts Market: Key Highlights
- The global Stair Lifts market was valued at USD 1.24 Billion in 2020.
- The global Stair Lifts Market is projected to reach USD 2.16 Billion by 2028
- is fueling the market growth
- Asia Pacific held the highest share of the Stair Lifts market in 2020.
- Some of the major companies operating in the Stair Lifts market are Arrow Lift, StepUp, EHLS, Handicare, AmeriGlide, Ascent Stairlifts, HIRO LIFT, Improvement Center, 101 Mobility, Acorn Stair Lifts, Savaria, Harmar, Stannah, Bruno, HomeAdvisor, Mobile Stairlift.
Frequently Asked Questions
the global demand for Stair Lifts
in terms of revenue?
The global Stair Lifts valued at 1.24 Billion in 2020 and is expected to reach 2.16 Billion in 2028 growing at a CAGR of 7.21%
are the prominent players
in the market?
The prominent players in the market are Arrow Lift, StepUp, EHLS, Handicare, AmeriGlide, Ascent Stairlifts, HIRO LIFT, Improvement Center, 101 Mobility, Acorn Stair Lifts, Savaria, Harmar, Stannah, Bruno, HomeAdvisor, Mobile Stairlift.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 7.21% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Stair Lifts include
- The increasing ageing population is anticipated to augment the growth of the stair lifts market over the forecast period. According to World Health Organization (WHO), between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22% and by 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. This ageing people are more probable to have problems with mobility, poor depth perception, and using the stairs, and would require assistance. Thus, contributing to the growth of the market in near future.
- Furthermore, the increasing regulations and initiatives to use stair lift in healthcare and other areas by government across the globe is also expected to support the growth of the stair lifts market in the years to come. This would help disabled people to access to the services such as healthcare centers, work establishments, and educational organizations and at the same time decrease their dependency on others.
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Stair Lifts in 2020.