Stairlifts are electromechanical devices that are installed on staircases to aid mobility for elderly, disabled or injured people. Stairlifts have adjustable seats and armrests providing comfortable access to multi-level homes. The rising geriatric population and prevalence of disabilities has increased the need for stairlifts for independent living. The global Stairlifts Market is estimated to be valued at US$ 1.03 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for user-friendly mobility solutions has accelerated the demand for stairlifts globally. Stairlift manufacturers are focusing on innovations to make stairlifts lightweight, compact and easier to use. For instance, new generation stairlifts come with battery operated variable speed control, swivel seat, easy to install design and remote monitoring system. Advanced technological features along with affordable prices have increased acceptance of stairlifts among elderly population for barrier-free mobility within homes.
Segment Analysis
The global stairlifts market is dominated by the straight stairlifts segment. Straight stairlifts are suitable for installing on stairs with a straight run and account for around 70% of total stairlifts installed globally. Their simplistic design and versatility make them an affordable option for retrofitting stairs at homes. Curved stairlifts are used on stairs that have a curve or bend. However, their complex design makes them more expensive compared to straight stairlifts. Outdoor stairlifts are gaining traction due to growing demand from sites with exterior stairs like public buildings, hospitals and restaurants.
Key Takeaways
The global stairlifts market is expected to witness high growth over the forecast period.
Regional analysis: Europe dominates the global stairlifts market currently. The large elderly population and increasing cases of limited mobility have led to widespread adoption of stairlifts across European countries. Germany, France and UK account for the bulk of demand in the region. North America is the second largest market driven by rising healthcare expenditure and disability rates in the US and Canada. Asia Pacific is emerging as the fastest growing regional market for stairlifts supported by growing medical devices industry and modernization of healthcare infrastructure in China, India and Japan.
Key players operating in the stairlifts market are ThyssenKrupp Elevator Technology,,Handicare Group,,Bruno Independent Living Aids,,Stannah Lifts Holdings Ltd. ThyssenKrupp and Stannah are the market leaders owing to their extensive product portfolios and global sales networks. Handicare has a strong footing in the curved stairlifts segment.
