Stair Lifts Market: North America Accounts for the Largest Market Share Followed by the Europe: PMR

Stair lifts also known as chair lifts, stair gliders are mechanical devices that are used by the disabled or elderly people to move up and down stairs. The device comprises of a chair or a lifting platform attached to a rail that is mounted to the treads of the stairs. Rails are usually made from steel or aluminum in various cross-sectional shapes whereas carriage or a chair is a component that moves along the rail and hence, requires smaller diameter. These stair lifts provide safe movement up and down the stairs and thus stairs present in a house can prove to be hazardous for many seniors who stay in a house with stairs. The concept of stair lifts was first commercially introduced in the 1930s in the U.S. However, with the growing awareness among people about the benefits of the stair lifts the demand for such assistive devices grew across the globe. Currently available stair lifts are equipped with wide range of features such as call stations, battery isolation switches, adjustable seat height, folding step, flip-up rail, key switch, seatbelt, soft stop and speed governor.

Curved rail stairlifts, outdoor stairlifts, straight rail stairlifts, goods stairlifts, wheelchair platform stairlifts and pre-owned stairlifts are some of the most popular type of stairlifts manufactured by different types of ventures in this market. Straight rail stairlifts are one of the most common types of stairlifts which are used with straight stairs and straight rail track. This class of stair lifts is cheap as it requires few customizations and has a shorter installation and manufacturing time. Curved stairlifts are costly lifts that should be manufactured according to an individual staircase and hence requires design, manufacturing and measurement. These are advanced types of stairs that requires long installation time duration. Platform lifts require much heavier construction and the platform is large enough for accommodating a wheelchair and its user. These platform lifts are manufactured on customization. Outdoor stairlifts are similar to the indoor stairlifts only they are more susceptible to harsh weather conditions.

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The growth of stair lifts market is fuelled by technological advancements and rise in elderly population. According to the World Health Organization (WHO), the global geriatric population in 2010 was approximately 524 million and it is expected to reach approximately 2 billion in 2050. This exponential rise in elderly population would substantially create a demand for stair lifts in the market. However, the growth of this market is expected to get hampered due to the high cost involved in the purchase and installation of such handicapped devices. The average price for simple straight stair lifts cost around USD 3,000 to USD 4,000 whereas the price for curved or other extra feature inbuilt in stairlift may cost around USD 15,000.

Geographically, North America accounts for the largest share of the stair lifts market followed by the European region. The dominance of these regions in this market is seen due to grants provided by the government of the U.S, Switzerland and the U.K. to the handicapped people for purchasing assistive devices. However, in the near future the U.S market is expected to decline its market share owing to market maturity. Asia-Pacific region is expected to show healthy growth in the near future due to rising in the elderly population, growing disposable income and economic developments.

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The market for stairlifts is facing a tough competition as many new players are entering in this market which is leading to the price war. Since, the entry of many players the prices of stair lifts have dramatically declined. Major players operating in this market include Invacare, Otolift, Summit, Acron, Ameriglide and others.

Key Points Covered in the Report

Market segmentation on the basis of type, application, product, and technology (as applicable)

Geographic segmentation

• North America
• Europe
• Asia 
• RoW

1. Market size and forecast for the various segments and geographies for the period from 2010 to 2020
2. Company profiles of the leading companies operating in the market
3. Porter’s Five Forces Analysis of the market