Electric Wheelchair Market Analysis & Forecast for Next 5 Years | Golden Technologies, Medical Depot, Ottobock
Published Via 11Press : According to HTF MI, “Global Electric Wheelchair Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Electric Wheelchair Market is anticipated to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2028, reaching USD 3.8 Million in 2023 and USD 4.05 Million by 2028.
An electric wheelchair, commonly referred to as a power chair or an electric power wheelchair, is a type of wheel mobility equipment that provides seating for a person who has trouble walking or moving around. Since they are powered by a battery, they do not need any human aid to move around.
These wheelchairs are simple to operate and practical. The market for global electric wheelchairs is predicted by HTF Market Intelligence to grow at a 3.1% CAGR from 2017 to 2029.
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Key and developing players who have been highlighted as part of the coverage
- Golden Technologies (United States),
- Medical Depot, Inc. (United States),
- Ottobock (Germany),
- Invacare Corporation (United States),
- Hoveround Corporation (United States),
- Heartway Medical Products Co., Ltd. (Taiwan),
- 21st Century Scientific, Inc. (United States),
- Pride Mobility Products Corp. (United States),
- EZ Lite Cruiser (United States),
- MERITS CO. LTD. (Taiwan),
- Karman Healthcare, Inc. (United States).
Market Drivers
- Due to factors including ease of mobility, continence, a growing geriatric population worldwide, and rising demand for an improved wheelchair from the sports industry, the market for electric wheelchairs has seen increasing growth.
- The electric wheelchair industry can be divided into four categories: standing electric wheelchairs, front-wheel drive electric wheelchairs, and back wheels. The front-wheel drive electric wheelchair had the highest revenue share out of all of them.
- The use of a front wheelchair is thought to be advantageous for a number of reasons, including the fact that the user’s feet can be easily placed and that the motorized wheelchair lacks front caster wheels, which make it easier for users to fit under desks and tables of a standard size. This can easily go around tight turns inside the house.
Market Opportunities
- The development of medical facilities and an increase in income are two factors that will contribute to the market growth for electric wheelchairs.
- The market for electric wheelchairs is expanding as a result of features such as cushions and brackets, seating and posture, and cushion placement. Increasing user awareness in developing nations will present an opportunity for electric wheelchairs during the anticipated term.
Market Restraints
- The expensive price of the electric wheel and inadequate infrastructure are a couple of the problems limiting market expansion. Few people have the financial means to purchase electric wheelchairs.
- For instance, the Heartway P13 vision wheelchair created by EV Rider LLC costs US$3, 699.00, which is out of reach for those with normal incomes. Additionally, the population in the lower middle class may lack expertise, which could harm the market.
Market Challenges
- Due to the prevalence of wheelchair usage, many people’s homes may be small, inaccessible huts or houses. It’s possible that they also reside in areas with inadequate infrastructure, few pavements, extreme climatic conditions, and physical topography.
- Public and private facilities can often be challenging to enter in a wheelchair. The strength and endurance of wheelchairs are further strained by these physical obstacles. Around 3% of the populace in many developing nations has a handicap and needs rehabilitation services. Due to the prevalence of wheelchair usage, many people’s homes may be small, inaccessible huts or houses. It’s possible that they also reside in areas with inadequate infrastructure, few pavements, extreme climatic conditions, and physical topography.
- Public and private facilities can often be challenging to enter in a wheelchair. The strength and endurance of wheelchairs are further strained by these physical obstacles. Around 3% of the populace in many developing nations has a handicap and needs rehabilitation services.
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Market Breakdown by Applications:
- Centre Wheel Drive,
- Front Wheel Drive,
- Standing Electric Wheelchair,
- Rear Wheel Drive
Market Breakdown by Types:
- Hospital,
- Home
Report Scope
| The Market size value in 2023 | USD 3.8 Million |
| Revenue Forecast by 2033 | USD 4.05 Million |
| Growth Rate | CAGR Of 8.4% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Data Sources of Electric Wheelchair Market Study
HTF Market Intelligence has employed a targeted and practical research strategy for the global electric wheelchair market that enables analysis of the pertinent market dynamics in various geographical areas.
To give customers and organizations the chance to prevail in Electric Wheelchair Market specialized markets and expand in emerging areas, our analysts also conduct in-depth assessments of geographical regions.
The analysis of the global market for electric wheelchairs also demonstrates how shifting player dynamics are influencing the market’s expansion. In addition, our market researchers thoroughly examine the goods and services provided by various companies in the electric wheelchair market that are vying for market dominance.
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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
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