The market for stair lift motors is anticipated to be worth US$ 196.2 million in 2023 and US$ 307.6 million by 2033. During the projection period, sales of stair lift motors are anticipated to grow significantly at a CAGR of 4.6%.
In 2022, the market for stair lift motors is anticipated to reach US$ 139.3 million. By 2032, the market for stair lift motors is expected to reach US$ 211.6 million with a CAGR of 4.3%.
The stair lift motor is a kind of moving chair that makes it easier for people to go from one floor to another without feeling any weight on their shoulders. Stair lift motors continue to be in high demand in metropolitan areas because they provide an elderly population that is terrified of stairs with a comfortable, temporary alternative. Medical crises like fractures or diagnosis and falls are increasing the sales of stair lift motors.
The demand for stair lift motors device for lifting people in the direction of the track beside the stairs is increasing. A bannister is attached to the stair tropes, and a lifting stand or chair is attached to the rail. This is likely to boost the growth of the stair lift motors market in supermarkets and shopping malls during the forecast period. These are some of the major reasons for the recent increase in the stair lift motor market size.
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Drivers:
The stair lift motor market size is anticipated to experience a moderate growth rate during the forecast period.
Convenience
The flexibility, low maintenance cost, and reduced weight are likely to increase the stair lift motors’ market share during the forecast period. A high level of immobility and convenience is reflected to be a top reason in the adoption of stair lift motors.
Safety feature
The advanced stair lift motors are much safer and it reduces the chances to fall. The stair lift motors are specially used by handicapped, old-age and children which are anticipated to increase the stair lift motors market opportunities. The government is also imposing strict rules across the globe to take up initiatives to use stair lift motors in the medical sector.
Technological progress
The manufacturers are also making products more user friendly to increase production and the sales of stair lift motors in coming years. On the other hand, technological innovation in the medical industry remains one of the prominent driving forces to rise the stair lift motors market growth.
Energy efficiency
Over the past few years, the demand for A.C. power stair lift motor is increased with a noteworthy attraction in the global stair lift motor market. Due to its vastly reliable and energy-proficient services, the end-users are likely to increase the adoption of AC power stair lift motors.
Restraints:
Trained personnel
Trained person is required for the installation of stair lift motors, lack of acquaintance related with local elevator codes may hinder the stair lift motors market growth.
High Cost
Moreover, high prices and deleterious customer evaluations related to the post-sales service is vulnerable and poses a challenge for the adoption of stair lift.
Operational Injury
Additionally, concerns related to the prospective threat of injury owing to incongruous installation is expected to continue to present challenges to the growth of this market.
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The key participants of the global stair lift motors market are the following:
- Dumore Motors (US)
- Acorn Stairlifts, Inc. (US)
- Lothian Electric Machines Ltd. (EUROPE)
- Harmar (US)
- Chanter Biomed (UK)
- Bruno (NA)
- MediTek
- Stannah Stairlifts Ltd.
Key Segments
By Types:
- Wheelchair platform stair lifts
- Straight-rail stair lifts
- Curved-rail stair lifts
- Outdoor stair lifts
- Goods stair lifts
- Others
By Current:
- DC. power lifting motors
- AC power lifting motors
By Application:
- Medical Sector
- Industrial Sector
- Commercial Sector
By User Orientation:
- Seated
- Standing and perched
- Integrated wheelchair platforms
By Installation Type:
- Indoor
- Outdoor
By Sales channel:
- OEMs
- Online
By Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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