Press release
Global Electric Wheelchair Market set to grow to $4.48 billion by 2020 - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Electric wheelchairs are the battery powered wheelchairs which do not require any external human assistance for mobility. The user alone can control the movements with various input devices such as joysticks, touch pads and other devices. Electric wheelchairs provide multiple functionalities to assist the user in both indoor and outdoor activities with nominal human effort. Electric wheelchairs are not only used by people with traditional mobility impairments but also by those with cardiovascular conditions. Electric wheelchairs are sophisticated products and reflect to the lifestyle of the users.
The global electric wheelchair market is expected to witness substantial growth during the forecast period. The increase in aging population globally is stimulating the growing demand for electric wheelchair. In addition, the growing demand for advanced wheelchairs from the sports industry is also influencing the growth of this market. Need for automated mobility for disabled and elderly population, while performing regular tasks is also contributing to the growth in demand for electric wheelchairs globally. High disposable income in countries such as the U.S., Canada, the U.K., France, Italy, Germany, and Japan is influencing a positive growth to the electric wheelchair market.
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The developing economies like India, China, Brazil, Indonesia and others are expected to generate further demand for electric wheelchairs in the future. With technological advancement in the electric wheelchair industry, new products are being developed by the manufacturers with better efficiencies, functionalities and customization. The sports industry has recently seen participation of disabled people in wheelchair based games, both indoor and outdoor. Thus, a major share of the electric wheelchair market is boosted by the demand from the sports industry globally. There are some challenges which the industry faces and few of those have high impacts presently such as lack of awareness and infrastructure. However, it is expected that the impacts of these factors is expected to reduce during the forecast period.
In this report, the market has been segmented based on product type and geography. It also includes drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the electric wheelchair market. The study highlights current market trends and provides the forecast from 2014 to 2020. The report covers the current market scenario for electric wheelchairs and highlights future trends that could affect the demand for the same. The global electric wheelchair market is expected to observe a steady growth rate from 2014-20120 at a very high CAGR.
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Table of Contents
Chapter 1 Preface
1.1 Research description
1.2 Research scope
1.3 Research methodology
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1 Introduction
3.2 Market dynamics
3.2.1 Market Drivers
3.2.1.1 Increasing elderly population globally
3.2.1.2 Increase in disposable income
3.2.1.3 Increase in demand for advanced wheelchairs in the sports industry
3.2.2 Market Restraints
3.2.2.1 High cost of electric wheelchairs
3.2.2.2 Lack of awareness and infrastructure
3.2.3 Market opportunities
3.2.3.1 Current Trends
3.2.3.2 Researech and Development
3.3 Value chain analysis
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