openPR Logo
Press release

Global Wheelchair and Components Market To Reap Over US$ 7,535.7 Mn In Revenues By End Of 2026

01-08-2019 05:09 AM CET | Health & Medicine

Press release from: Persistence Market Research

Global Wheelchair and Components Market To Reap Over US$ 7,535.7

Valued at US$ 5,236.5 Mn in 2015, the global wheelchair and components market is expected to attain a value of US$ 7,535.7 Mn by 2026-end. Over a 10-year forecast period, the market will witness a CAGR of 3.5%. In a recently published report titled “Global Wheelchair and Components Market 2016-2026,” Persistence Market Research offers vital insights into various factors impacting the global wheelchairs and components market during the period 2016 – 2026.

The wheelchair market will approach US$ 7.53 Bn, demonstrating a CAGR of 3.5% over 2016-2026. This market will reach 10,690.7 thousand units by 2026-end

By application, manual wheelchairs will continue to hold a dominant share of over 62% in 2026. By geography, North America's revenue share will reportedly drop from 33.6% to 32.0% in 2026. APAC will also lose its share from 28.3% to 27.2% in 2026. Europe will however showcase significant growth, accounting for over 20% share by 2026-end.

The wheelchair components market is expected to reach US$ 6.68 Bn in 2026, expanding at a CAGR of 3.9%.

By application, manual wheelchairs are anticipated to monopolize the market with around 70% revenue sales, whereas powered wheelchairs will capture around 18% share in 2026.

Request Sample Report@ https://www.persistencemarketresearch.com/samples/12961

On the basis of technology, continuous fiber composites will dominate over discontinuous fiber composites and metal. While continuous fiber composites will remain dominant with over 42% share, metal will account for over 36% value share by 2026-end.

In terms of wheelchair components by application, hand rims and wheel rims sub-segment is likely to account for over 36% share, closely followed by frames with over 35% share in 2026.

Key market drivers

Augmenting aging population and increasing susceptibility to severe injuries will remain the primary driving force for the global wheelchair and components market. Rising incidences of road accidents leading to severe injuries are expected to further fuel the demand for wheelchairs and components.

Growing instances of spinal cord injuries resulting in physical disability is also anticipated to sustain the demand globally. Favorable government initiatives and funding programs for wheelchairs will support the market.

As the wheelchair industry is undergoing several developments and innovations, the market for wheelchair and components is anticipated to gain a boost in near future. Immense advancements in the composites production technology will also influence the market growth positively.

A few trends and opportunities will shape-up the market by 2026 end

Emergence of electronic control drivetrains, artificial intelligence, improved power capacities, and multistage gearboxes will continue to play a crucial role in meeting differentiating needs of disabled patients.

Attributed to introduction of composite materials and engineering plastics, the market is witnessing a growing trend of demand for lightweight and ultra-lightweight wheelchairs.

Use of sensors, motor control software, wireless devices, and other technologies in wheelchairs are a few among the trending developments in the global wheelchair and components market.

OEMs are increasingly partnering with recognized composite materials manufacturers. Developing cost-effective products for penetrating in expanding Asian market can be lucrative in terms of tapping into the significant growth potential in emerging economies.

The regional analysis delivers key insights into the potential of the market in various regions across the globe

APAC is identified to have the most lucrative revenue potential; China, India, and ANZ will prominently underpin the demand for wheelchairs and components in APAC market. The US$ 1,453.3 Mn APAC market is likely to register a relatively higher CAGR of 4.0%, primarily driven by Australia and New Zealand. China and India will also generate significant demand, collectively accounting for over 28% share of the APAC in the global market by 2026-end.

Investments by leading wheelchair and components manufacturers are ramping up in developing Asian and BRIC countries. Domestic demand is growing at a rapid pace, which is likely to bring in a new wave of opportunities for manufacturers in these regions.

Over the assessed period, North America will showcase a decent growth rate. This region will maintain a dominant share in terms of value as well as volume sales throughout the forecast period. The growth of North American market will be primarily driven by the strong presence of a majority of manufacturers in this region.

Request TOC@ https://www.persistencemarketresearch.com/methodology/12961

Key market players target product innovation and positioning

Invacare Corp, Ottobock Healthcare GmbH, Permobil AB, Pride Mobility, Products Corp., Handicare, Sunrise Medical, Hoveround, Panthera, 21st Century Scientific, Inc., and Meyra Wilhelm Meyer GmbH & Co. KG are a few of the key companies participating in the highly competitive wheelchair and components marketplace.

Key players are focusing more on product innovation, in addition to introducing cost-effective products. Moreover, leading companies are also concentrating on grasping significant share in the retail segment through maintaining a proper value chain. Considering increasing healthcare awareness among consumers, manufacturers are targeting top-notch positioning strategies to win regional markets with varied product USPs.

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Wheelchair and Components Market To Reap Over US$ 7,535.7 Mn In Revenues By End Of 2026 here

News-ID: 1477074 • Views: 113

More Releases from Persistence Market Research

Global Waterborne Coatings Market Revenue to Witness Steady Growth Through 2020
Waterborne coatings are green substrates using water as solvent to dissolve a resin, making them environment friendly and easy to apply. These coatings usually contain approximately 80% of water with minimum quantities of other solvents such as glycol ethers. As per the U.S. and European regulations of waterborne coatings to have a VOC content less than 3.5 gallons of water, these are considered eco-friendly in nature. Various types of coatings
Manufacturers to Benefit from Lucrative Growth Prospects in the Global Textile P …
Application of coloring pattern and design to decorate the finished fabric is referred as printing. At the time of printing the color is applied to the fabric so that the color or design is not affected at the time of washing. Textile printing is a process of applying color to fabric in definite pattern and design. Textile printing is sometime confused with dyeing. In dyeing whole fabric is uniformly colored
Demand for Triazole Fungicides to Rise Significantly from Key End-use Industry S …
The growth of the crop can be affected by fungal infection. Fungicides are chemical compound used to kill fungi or fungal spores. Triazole is most widely used fungicides due to their different uses and efficacy against a number of fungal diseases. Triazole is highly effective against many different fungal diseases include rusts, leaf-spotting fungi and powdery mildews. Triazole is used on field crops, fruit trees and vegetables. Repeated use
Global Purified Terephthalic Acid Market Revenue to Witness Rapid Growth in the …
Purified terephthalic acid (PTA) is a chemical which is synthesized from crude oil. It is majorly used to manufacture polyester fiber. Its end-user industries include textile and home furnishing where PTA is required to manufacture garments such as bed sheets, curtains and clothes. Request For Report Sample@https://www.persistencemarketresearch.com/samples/3434 The market for purified terephthalic is expected to witness noticeable expansion in the coming years with the growing demand for polyester, specifically in

All 5 Releases


More Releases for APAC

Elevators Market: Rapid Urbanization APAC Escalating Demand,
On the back of rapid urbanization in several emerging economies in Asia Pacific, the global elevators market is flourishing. A recent business publication by Transparency Market Research (TMR) has evaluated the lucrativeness of the market for elevators and escalators across the world and forecasted the demand, in terms of value, to increment at a notable CAGR of 7.4% during the forecast period of 2016 to 2023. In terms of volume,
Food Service Market in APAC 2017-2021
The latest industry research report on Food Service by MRC provides a thorough analysis of the  Food Service market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Food Service industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis
Agrochemicals Market in APAC
ReportsWorldwide has announced the addition of a new report title APAC: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “APAC: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Global Food Retail Market : APAC Demanding Region
The global Food Retail market was valued at USD 5,643.6 billion in 2013 and is expected to grow at a CAGR of 6.1 % from 2014 to 2020, to reach an estimated value of USD 8,541.9 billion in 2020. For More Information Request TOC (desk of content material), Figures and Tables of the report @ http://www.persistencemarketresearch.com/market-research/food-retail-market/toc Rise in the global population, changing customer preferences, and emerging economies are making the way
Global Clinical Nutrition Market : APAC Demanding Region
The global Clinical Nutrition market was valued at USD 36.9 billion in 2013 and is expected to grow at a CAGR of 4.1% from 2014 to 2020, to reach an estimated value of USD 48.6 billion in 2020. For More Information Request TOC (desk of content material), Figures and Tables of the report @ http://www.persistencemarketresearch.com/market-research/clinical-nutrition-market/toc Nutrition provides human beings with the required amount of proteins, carbohydrates, fats, water, vitamins, and minerals
IT Outsourcing Market In APAC 2016-2020
About Information Technology Outsourcing (ITO) in APAC The ITO market in APAC is gaining ground with increased IT spending and related outsourcing activities by organizations in the region to stay competitive in todays globalization. ITO services help organizations to manage their IT functions through IT expert team and innovative technologies. C-level executives of the companies have realized benefits of implementing outsourcing services for their IT functions and are increasingly supporting such