Electric Wheelchair Market by Product type Global Opportunity Analysis and Industry Forecast, 2014 - 2022
Electric Wheelchairs Market Overview:
Global Electric Wheelchairs Market size in 2015 was valued at $1,597 million growing at CAGR of 17.1% to reach $4,846 million by 2022. Electric wheelchairs market has witness increased adoption owing to factors such as ease of mobility, convenience, growing worldwide elderly population and growing demand for advanced wheelchairs from the sports industry, as many sports events are organized for disabled persons such as wheelchair basketball, wheelchair rugby, and others.
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.
The revenue of the global electrical wheelchairs market has increased, owing to rising trend of automation enabling enhanced returns on investments and cost optimization. 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