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In-Depth Analysis of the Mobility Aids And Transportation Equipment Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Mobility Aids And Transportation Equipment Market Size
Over the past few years, the market size for mobility aids and transportation equipment has experienced substantial growth. The market is predicted to expand from a value of $2.76 billion in 2024 to a size of $2.99 billion in 2025, representing a compound annual growth rate (CAGR) of 8.4%. Contributing factors to the significant growth in the past include an increasing aging population, prevalent medical conditions and disabilities, developments in rehabilitation and healthcare services, as well as legislation and initiatives promoting accessibility.
Significant expansion is anticipated in the mobility aids and transportation equipment sector in the coming years. The market is projected to soar to $3.95 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. The surge during the predicted period can be associated with personalized mobility solutions, cutting-edge materials and design, telehealth and remote consultations, and aging-in-place solutions. Foreseen trends for the predicted period encompass smart mobility aids, inventive transportation solutions, sustainable and eco-friendly aids, and robot-assisted mobility.
What Is Driving the Growth Trajectory of the Mobility Aids And Transportation Equipment Market?
The mobility aids & transportation equipment market is set to gain momentum from the increasing elderly population. Age-related diseases often lead to reduced mobility in older people, with conditions such as rheumatoid arthritis and osteoporosis being more common in this demographic. The World Health Organization has predicted that the global population of older people will increase from 12% to 22% by 2050, a factor that is expected to drive significant growth in the mobility aids & transportation equipment market.
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Which Leading Companies Are Shaping the Growth of the Mobility Aids And Transportation Equipment Market?
Major companies operating in the mobility aids and transportation equipment market include Medline Industries, Hoveround Corporation, Sunrise Medical LLC, OttoBock Healthcare GmbH, Stryker Corporation, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, Hill-Rom Holdings Inc., Merivaara Corporation, UpLyft, Mobius Mobility, SitnStand, Authority Medical Group, Ease Seating Systems, Matia Mobility, National Seating & Mobility, Pride Mobility Products Corp., Drive Medical Design & Manufacturing, Quantum Rehab, 21st Century Scientific Inc., Ki Mobility, Colours Wheelchair, Motion Composites, Karman Healthcare, Merits Health Products Co. Ltd., Nova Medical Products, Active Mobility Systems, Convaid Products LLC, R82 Inc.
What Are the Major Trends Shaping the Mobility Aids And Transportation Equipment Market?
Japanese car manufacturers have unveiled a one-seater autonomous vehicle designed to support individuals who struggle with walking or using public transportation. The car can be operated via a smartphone or tablet; simply select a destination, and the vehicle's pathfinding technology will manage the rest. With its built-in navigation system, it simplifies the process of reaching from one point to another. The car's gyro sensor maintains stability on rough terrain, while its 2D and 3D laser sensors measure the distance from objects. In addition, it features stereo cameras for obstacle detection. The vehicle is engineered to easily navigate around city roads, sidewalks, and pathways. Its sensor and guidance systems enable it to smoothly avoid hurdles like bumps, potholes, and pedestrians.
What Are the Key Segments of the Mobility Aids And Transportation Equipment Market?
The mobility aids and transportation equipment market covered in this report is segmented -
1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts
2) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly
3) By End User: Hospital, Clinic, Household
Subsegments:
1) By Electrically Powered Wheelchairs: Rear-wheel Drive, Front-wheel Drive, Mid-wheel Drive, Standing Wheelchairs
2) By Manual Wheelchairs: Standard Manual Wheelchairs, Lightweight Manual Wheelchairs, Folding Manual Wheelchairs, Rigid Manual Wheelchairs
3) By Walking Aids: Crutches, Canes, Walkers, Rollators
4) By Mobility Scooters: Three-wheeled Mobility Scooters, Four-wheeled Mobility Scooters, Heavy-duty Mobility Scooters
5) By Stretchers: Hydraulic Stretchers, Folding Stretchers, Emergency Stretchers, Bariatric Stretchers
6) By Stair Lifts: Straight Stair Lifts, Curved Stair Lifts, Outdoor Stair Lifts, Platform Lifts
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Which Region Dominates the Mobility Aids And Transportation Equipment Market?
Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2023. North America was the second-largest region in global mobility aids and transportation equipment market. The regions covered in the mobility aids and transportation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Mobility Aids And Transportation Equipment Global Market Report?
- Market Size Analysis: Analyze the Mobility Aids And Transportation Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Mobility Aids And Transportation Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Mobility Aids And Transportation Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Mobility Aids And Transportation Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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