By 2022, the market for electric wheelchairs worldwide reached a net worth of around USD 4,000.4 million. In the current year, 2023, the market share is anticipated to reach a value of over USD 4,352.4 million.
The demand for electric wheelchairs is poised to increase by 2.5X, recording a CAGR of 10.4% over the next ten years. By the conclusion of this forecast period in 2033, the overall electric wheelchair market value is anticipated to reach USD 11,741.6 million.
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The rise in the older population with age-related mobility issues is a leading cause for the growing sales of electric wheelchairs around the world. Besides that, the need for automated wheelchairs for persons with disabilities is an emerging trend driving the global demand for electric wheelchairs. Furthermore, improving lifestyle with high disposable money is also considered responsible for the electric wheelchair industry’s expansion in recent years.
The worldwide sales of electrical wheelchairs are anticipated to be hampered by the high cost of the devices and lack of infrastructure and awareness.
“Research and development spending in battery-powered wheelchairs with wireless technology has significantly increased, encouraging the creation of specialized products and solutions. In recent years, many small businesses are also developing customized wheelchairs to appeal to sectors with specific requirements.” – FMI analyst.
Key Takeaways from the Global Electric Wheelchair Market Study Report:
- The United States alone manufactured around 18.2% of the world’s electric wheelchairs in 2022 because of the presence of significant players in the country.
- In Europe, Germany is the leading manufacturer of electrical wheelchairs, contributing an 8.2% share of the global revenue generated in 2022.
- China now holds a dominant position in Asia with a global market share of 10.1% in 2022 and is anticipated to strengthen through 2033.
- India currently accounts for almost 9.1% of the global revenue and is anticipated to become the leading market for electric wheelchairs in Asia.
- In terms of product type, the center-wheel drive category dominated the electric wheelchair market in 2022 with a 30.1% global market share.
Competitive Landscape for the Electric Wheelchair Market Players:
The market is somewhat fragmented, with local and international firms predominating the powered wheelchair industry. The overall market is poised to develop over the introduction of wheelchairs, which enable more effective long- and short-distance ambulation as well as enhanced freedom.
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Recent Developments by the Electric Wheelchair Manufacturing Industries:
Sunrise Medical Company introduced an ultra-light QUICKIE Nitrum wheelchair in July 2021. This innovation in mobility aids & transportation equipment provides the best stiffness and strength.
The e-fix eco Power Assist Device from Invacare Corporation was released in February 2022. The improved design of this new technology can transform manual wheelchairs into electric wheelchairs.
An innovative electric wheelchair called the Scewo BRO was introduced in January 2022 by the Swiss firm Scewo. The company claims this innovative product can set new market trends in electric wheelchairs to help persons with mobility problems upstairs.
A mobility aids and transportation equipment manufacturer based in the United States called Segway debuted an egg-shaped pod in January 2020. This electric mobility solution lets patients quickly travel across airports, amusement parks, campuses, and cities.
Key Players Profiled in the Electric Wheelchair Market Report:
- OttoBock Healthcare GmbH
- Invacare Corp.
- Pride Mobility Products Corp.
- Permobil AB
- Sunrise Medical Limited
- Hoveround Corporation
- LEVO AG, Invacare Corp.
- MEYRA GmbH
- Medical Depot, Inc.
- GF HEALTH PRODUCTS, INC
Electric Wheelchair Market Segmentation
By Product Type:
- Front Wheel Drive
- Rear Wheel Drive
- Standing Electric Wheelchairs
By End Users:
- Hospitals & Clinic
- Home Care
- Sports Conditioning
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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