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Wheelchair Accessible Vehicle Converters Market: Industry Analysis and Opportunity Assessment

12-27-2017 03:23 PM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Wheelchair Accessible Vehicle Converters Market: Industry

Vehicles which are converted in a way that have easy access for wheelchairs are termed as wheelchair accessible vehicles or WAV’s. The vehicles are specially converted from a standard vehicle to WAV in order to accommodate the wheelchair. Wheelchair accessible vehicles are considered as multipurpose vehicle as it can be used for medical as well as general purpose. The important aspect of wheelchair accessible vehicle is that patient can travel while remaining in their wheelchair, either as a passenger or driver. The common feature that are associated with most of the wheelchair accessible vehicle includes a built-in ramp, access from the side or the back of the vehicle, a lowered floor or raised roof to allow enough headroom and wheelchair tie-downs. There are three different sizes of wheelchair accessible vehicles available in the market namely small, medium and large. Small WAVs usually have a ramp rather a lift and it can accommodate up to four people including a wheelchair passenger/patient. Likewise, larger wheelchair requires medium sized WAVs. Large WAVs can carry a number of passengers along with the wheel chair patient. The following common conversions are involved in a wheelchair accessible vehicle: seating is modified to allow wheelchair access, suspension may be stiffened to allow extra weight of power chairs, gas tanks and fuel lines may be modified and floor of the vehicle is lowered. It is mandatory that all the wheelchair accessible vehicles should be certified by National Highway Traffic Safety Administration (NHTSA) regulations. 

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The global market for wheelchair accessible vehicle converters is growing at a rapid pace worldwide primarily due to technological advancement and growing demand of quality and safe healthcare services by the patient. Moreover, rapidly rising incidences of car and bike accidents is also eventually accentuating the global market demand of wheelchair accessible vehicle converters. Car and bike accident are the common cause for orthopedic trauma across the world. Nearly 1.24 million deaths occur due to traffic accident in every year globally stated by World Health Organization. Moreover, fatal and non-fatal accident is on the rise globally and it will accentuate the global wheelchair accessible vehicle converters market.  However, high cost and lack of medical reimbursement are considered as market restraining factor in the global wheelchair accessible vehicle converters market. It is expected that Asian countries would experience immense potential in the wheelchair accessible vehicle converters market during the study period.
North America and Europe dominates the global market of wheelchair accessible vehicle converters due to extensive technological advancement and rising prevalence of various orthopedic surgeries. Furthermore, favorable government initiatives would also drive the wheelchair accessible vehicle converters market in North America and Europe. Asia-Pacific is considered as an emerging market due to growing market penetration in this region. Asian market growth will be fuelled by the presence of untapped opportunities due to extensive increase in the healthcare infrastructure. Hence, it is expected that Asian market will experience a tremendous growth during the study period. Rest of the world (RoW) holds fourth position in the global wheelchair accessible vehicle converters market due to poor economic and health condition in most of the African countries. 
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Some of the key players operating in the global wheelchair accessible vehicle converters market includes Fiat Doblo, Renault Kangoo, Kia Sedona and Skoda Roomster, Grand Voyager and Peugeot Bipper.   
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 
North America 
Asia Pacific 
Rest of the World  
This report provides comprehensive analysis of 
Market growth drivers 
Factors limiting market growth
Current market trends 
Market structure
Market projections for upcoming years 
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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