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Electric Wheelchairs Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR71994
Technavio

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The electric wheelchairs market share is expected to increase by USD 1.42 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.79%.

This electric wheelchairs market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric wheelchairs market segmentation by product (dry-battery electric wheelchairs and wet-battery electric wheelchairs) and geography (North America, Europe, Asia, and ROW). The electric wheelchairs market report also offers information on several market vendors, including CE Mobility, ComfyGO Inc., Drive DeVilbiss Healthcare, EZ Lite Cruiser, Invacare Corp., MEYRA GmbH, Permobil AB, Pride Mobility Products Corp., Roma Medical, and Sunrise Medical LLC among others.

What will the Electric Wheelchairs Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Electric Wheelchairs Market Size for the Forecast Period and Other Important Statistics

 

Electric Wheelchairs Market: Key Drivers and Challenges

The increasing number of orthopedic and neurologic disorders is notably driving the electric wheelchairs market growth, although factors such as the high cost of electric wheelchairs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric wheelchairs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Wheelchairs Market Driver

The increasing number of orthopedic and neurologic disorders is one of the key factors driving the global electric wheelchairs market growth. A significant increase in the number of orthopedic conditions and neurological conditions among patients across the globe will lead to an increase in the demand for electric wheelchairs. The mobility devices such as electric wheelchairs help patients in orthopedic conditions such as rheumatoid arthritis, knee problems, and during the recovery period after orthopedic surgeries to move from one place to another without any assistance from others. Other factors such as medical emergencies, long-term and short-term disabilities, and the rising number of surgical operations are expected to give rise to the demand for electric wheelchairs, which will positively impact the global electric wheelchairs market during the forecast period.

Key Electric Wheelchairs Market Challenge

One of the major challenges to the global electric wheelchairs market growth is the high cost of electric wheelchairs. With the addition of new features and technological advances the total cost of manufacturing increases, which may impede the adoption of wheelchairs and the growth of the market. The high cost of electric wheelchairs will make optimum market penetration difficult for the key vendors as price-sensitive consumers will opt for other mobility aids such as manual wheelchairs, medical walkers, and rollators. Moreover, in many countries, the government does not provide any subsidy to the consumers for these products, which may hinder the adoption of electric wheelchairs, thereby negatively impacting the growth of the market in focus during the forecast period.

This electric wheelchairs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Electric Wheelchairs Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • CE Mobility
  • ComfyGO Inc.
  • Drive DeVilbiss Healthcare
  • EZ Lite Cruiser
  • Invacare Corp.
  • MEYRA GmbH
  • Permobil AB
  • Pride Mobility Products Corp.
  • Roma Medical
  • Sunrise Medical LLC

 

This statistical study of the electric wheelchairs market encompasses successful business strategies deployed by the key vendors. The electric wheelchairs market is fragmented and the vendors are acquiring small brands and technological innovation to gain optimum market penetration and to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric wheelchairs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Electric Wheelchairs Market?

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46% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for electric wheelchairs in North America. Market growth in this region will be faster than the growth of the market in Europe, Asia, and ROW.

The significant increase in demand for electric wheelchairs owing to the rise in the aging population and the high incidence of arthritis and brain stroke (that causes severe long-term disability) will facilitate the electric wheelchairs market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Electric Wheelchairs Market?

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The electric wheelchairs market share growth by the dry-battery electric wheelchairs segment will be significant during the forecast period. The growth is attributed to the high demand for dry-battery electric wheelchairs as they work without spilling due to the absence of free fluid. The demand for these wheelchairs is expected to rise further during the forecast period because these are convenient for air travel and comply with the rules and regulations of the Federal Aviation Administration (FAA) that allows only electric wheelchairs with a non-spillable or non-wet battery. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric wheelchairs market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Wheelchairs Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.79%

Market growth 2021-2025

$ 1.42 billion

Market structure

Fragmented

YoY growth (%)

10.53

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 46%

Key consumer countries

US, Germany, Canada, France, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

CE Mobility, ComfyGO Inc., Drive DeVilbiss Healthcare, EZ Lite Cruiser, Invacare Corp., MEYRA GmbH, Permobil AB, Pride Mobility Products Corp., Roma Medical, and Sunrise Medical LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Electric Wheelchairs Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric wheelchairs market growth during the next five years
  • Precise estimation of the electric wheelchairs market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric wheelchairs industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric wheelchairs market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Dry-battery electric wheelchairs - Market size and forecast 2020-2025
    • Wet-battery electric wheelchairs - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • Asia - Market size and forecast 2020-2025
      • ROW - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • CE Mobility
      • ComfyGO Inc.
      • Drive DeVilbiss Healthcare
      • EZ Lite Cruiser
      • Invacare Corp.
      • MEYRA GmbH
      • Permobil AB
      • Pride Mobility Products Corp.
      • Roma Medical
      • Sunrise Medical LLC

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The electric wheelchairs market growth will increase by $1429.12 million during 2020-2025.
      The electric wheelchairs market is expected to grow at a CAGR of 10.79% during 2020-2025.
      Technavio has segmented the electric wheelchairs market by product (Dry-battery electric wheelchairs and Wet-battery electric wheelchairs) and geographic (North America, Europe, Asia, and ROW).
      CE Mobility, ComfyGO Inc., Drive DeVilbiss Healthcare, EZ Lite Cruiser, Invacare Corp., MEYRA GmbH, Permobil AB, Pride Mobility Products Corp., Roma Medical, Sunrise Medical LLC are a few of the key vendors in the electric wheelchairs market.
      North America will register the highest growth rate of 46.32% among the other regions. Therefore, the electric wheelchairs market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the electric wheelchairs market growth are:
      • Increasing number of orthopedic and neurologic disorders
      The electric wheelchairs market vendors should focus on grabbing business opportunities from the dry-battery electric wheelchairs segment as it accounted for the largest market share in the base year.
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