Electric Wheelchair Market to Incur Rapid Extension During 2016 to 2022
An electric wheelchair, also known as power wheelchair is a wheelchair that is propelled by means of an electric motor rather than manual efforts. Electric wheelchairs are light in weight, generally less than 100 lbs and offer mobility in a light package. These electric wheelchair offers compact size, ideal for confined spaces or narrow doorways.
Portland, OR -- (SBWire) -- 10/02/2017 --The revenue of the global Electrical Wheelchairs Market has increased, owing to rising trend of automation enabling enhanced returns on investments and cost optimization. The electric wheelchairs market size was valued at $1,597 million in 2015, and is estimated to reach $4,846 million by 2022, growing at a CAGR of 17.1% from 2016 to 2022. North America accounted for around 47% share of the overall market revenue in 2015, owing to high purchasing power, increase in elderly population, and rise in consumer awareness. Asia-Pacific is anticipated to grow at the highest CAGR of 18.7% from 2016 to 2022.
They are durable, adjustable and feature special seats with soft pads for orthopedic patients. Growing elderly population, necessity of automated wheelchair for disabled people and high disposable income of people are the driving factors for the market growth. However, high cost of electric wheel chair and lack of awareness and infrastructure, such as broken pathways, non-availability of ramps in buses & trains for wheelchair users restrict the adoption of electrical wheelchairs.
The report segments the global electric wheelchairs market on the basis of product type and geography. Based on the type of the product, the market is categorized into front wheel drive, rear wheel drive, centre wheel drive, standing electric wheelchair, and others. Among these products, the centre and front wheel drive segments are majorly in demand and hold a combined share of around 63% in global electric wheelchairs market in the year 2015.
The global electric wheelchairs market is categorized based on the type of product into front-wheel drive, rear-wheel drive, center wheel drive, standing electric wheelchairs, and others. Centre wheel drive segment generated a higher revenue in 2015, and is expected to dominate the market throughout the forecast period, owing to its stability on slopes & uneven terrain, and maneuvering is more intuitive for people with perceptual and cognitive impairment.
Key Findings of the Electric Wheelchair Market
- The front-wheel drive segment is expected to grow at the highest CAGR of 18.6% from 2016 to 2022.
- U.S. accounted for the largest customer base in the North American electric wheelchairs market in 2015, and is anticipated to dominate the market throughout the forecast period.
- Japan is the major shareholder, accounting for almost one-fourth of the Asia-Pacific electric wheelchairs market in 2015.
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