Stair Lifts Market is Expected to Reach a market value of over US$ 1,600 Mn by the end of 2027

The Stair Lifts Market is destined to grow on an impertinent note, i.e. reaching US$ 1,600 Mn at a CAGR of 6.5% between 2017-2027. Personalization has taken over almost every sphere of the industry verticals, and healthcare is no exception. People have started looking at their healthcare picture such that they could actively take part in improving their physical and mental health on the daily basis. This personalization will be the face of the healthcare vertical in the forecast period.

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Stair lifts are a mechanical setup that aims to help disabled people. This is a chair or platform that is motorized to travel along the rail or track guided along the stairway. A new research based on these lifts by Persistence Market Research is titled 'Stair Lifts Market: Global Industry Analysis 2012 -2016 and Forecast 2017 - 2027'. This comprehensive research is intended to guide people with useful insights on this market. The stair lifts market study involves assessment of global market opportunities by representing annual sales volume (units) and value (US$ Mn) of various types of stair lifts installed in residential and commercial or public spaces.

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The report indicates that the global stair lifts market is expected to reach a market value of over US$ 1,600 Mn by the end of 2027. The market is projected to register a robust CAGR of 6.5% during the forecast period. Over the last decade, stair lifts have witnessed a substantial surge in demand in the U.S and Japan market. This demand is mainly driven by a growing geriatric population. Market players lay emphasis on increasing their product offerings and providing innovative products to achieve competitive edge, specifically over other local players.

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Company Profiles:

Acorn Stairlifts Inc.
Stannah International
Savaria Corp.
Handicare Group AB
Lehner Lifttechnik GmbH
Otolift Stairlifts Ltd.
Harmar Mobility LLC
Prism UK Medical Limited
Bruno Independent Living Aids, Inc.
Platinum Stair Lifts Ltd.
HIRO LIFT (Hillenkötter + Ronsieck
Kumalift Co., Ltd.
SUGIYASU Co., Ltd.
Symax Lift (China) Co, Ltd.
Qingdao Sinofirst Machinery Co., L
Taamal Seed Electra Group
Millepiani Spa Group

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Global Stair Lifts Market: Segmental Analysis

On the basis of region, North America leads the global market with over US$ 420 Mn market revenue expected by the end of 2025, growing at a CAGR of 7.3% during the forecast period. Europe is also expected to emerge as an attractive region during the forecast period.
In terms of rail type, curved stair lifts is projected to have the largest market share by the end of 2025, whereas straight stair lifts is expected to be the fastest growing segment with a growth rate of 7.5% during the forecast period.
Based on install location, the residential spaces segment is ahead of commercial spaces with a higher market share, but the commercial spaces segment is projected to witness a higher growth rate during the forecast period.
On the basis of power source, the direct current segment dominates the global stair lifts market with a projected market value of over US$ 1,300 Mn by the end of 2025, growing at a CAGR of 7.2% by the end of forecast period.

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