North America Used Stair Lift Market Size to Grow at a CAGR of 5.8% During 2021-2026

(IT-NEWSWIRE.COM, November 23, 2021 ) North America used stair lift Market size was valued at $165.2 million in 2020, estimated to grow at a CAGR of 5.8% during 2021-2026. The rising geriatric population especially including aged people having difficulty while climbing on the stairs and the growing home aesthetics are the most significant factors that are driving the North America used stair lift market. Furthermore, stair chair lifts provides the ability to be installed on any type of staircase, and are also added with optional features such as curved stair lift (chair glide), straight stairway lift (stairway gliders) and so on. These features thus meet the needs of the people making the adoption easy which will further lead to propel the North America used stair lift market growth during the forecast period.

North America Used Stair Lift Market – By Type of Product

Curved stair lift segment held the largest share in the North America used stair lift market in 2020 at 35.1%. The curved stair lifts are specifically designed to suit different types of staircases having turns or are in spiral form. This type of stair lift are widely used by the elderly as it does not require any extra support to handle. Also, in 2019 Platinum Stairlift has launched curved stair lifts in order to address the growing demand for stair lift among the geriatric population. Thus, the growing demand for curved stair lift in the US will further fuel the growth of the stair lift market.

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North America Used Stair Lift Market Segment Analysis – By Mobility

The majority of the sales occurs through the use of stair lift for indoor purposes and it is forecasted to grow at a CAGR of 3.6% in 2020. The stair lifts can be mounted on any stairs irrespective of their installation location, indoor or outdoor surroundings. However, the use of stair lift for indoor setup is growing significantly and is also considered to be the most lucrative technology in the stair lift industry used in the US. Furthermore, the primary use of the stair lifts occurs in hospitals, rehabilitation centers and residential environments are leading to the rising use of stair lifts for the indoor purposes.

North America Used Stair Lift Market- By Geography

U.S dominated the market with a share of 69% in 2020. Handicare is investing in the EnviSion photosurvey 3D tool which enables the user to visualize how the stairs are going to look after the installation of stair lift by incorporating images of their homes into the software. Government is imposing strict rules across the globe to take up the initiatives to use stair lift in medical and other areas which would help aid disabled or old aged people who require them in case of health emergencies. Microsoft augmented reality technology is being used to install stair lifts where people can see by using hololens where the customers can make chairs in the chair or rail color and add additional features. By using this hololens the company is able to measure the stair case faster than even before by which it is helping to spend more quality time to spend with the customers on discussing and visualizing about more options such as the rail color.

North America Used Stair Lift Market Drivers

Rising outreach of E-commerce

The rising of the E-commerce industry in the recent times has made a positive impact on the North America used stair lift market. Moreover, majority of the population in the US highly relies on online shopping for purchasing various products. This increasing outbreak of e-commerce has resulted in the easy trading of stair lifts and most of the companies are selling refurbished stair lifts at a relatively economical rates. Also, the proliferation of the e-commerce industry is becoming dense on a daily basis, and the demands for stair lifts are expected to flow through virtual platforms including Amazon, Alibaba and so on. This factors in turn support the growth of the stair lift market in the US.

Adoption of Emerging Digital Trends

The adoption of emerging digital trends such as the latest technologies including virtual reality and 3D imaging improve the construction of used stair lifts. Furthermore, 3D imaging also helps the customers to imagine the appearance of the stairs once they are mounted. In addition, the virtual reality device hololens optimizes the installation of the stair lift by increasing the measuring speed, thereby providing more room for visualization of graphical features such as rail color. These factors significantly propel the growth of the North America used stair lift market.

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North America Used Stair Lift Market Challenges

High Installation Cost and Requirement of Electricity

The high cost of installation of stair lift and the need for electricity are the major factor hampering the growth of the North America used stair lift market. The stair lift which are used nowadays incurs high cost of installation and maintenance which affects the use of stair lifts for indoor purposes. Moreover, stair lifts need electricity to run which are not possible in every area and also lead to increase in the electric bill which hinders the use of stair lift in many home care settings. These key factors dampens the growth of the North America used stair lift market.

North America Used Stair Lift Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the North America used stair lift market. In 2019, the market of North America used stair lift has been consolidated by the top ten players – Acorn Stairlifts Inc., Bruno Independent Living Aids, Harmar, Kumalift Co. Ltd., Otolift, Savaria Corp., MediTek, Platinum Stair lifts, ThyssenKrupp AG, Handicare, Stannah Lifts Holding Ltd

Acquisitions/Technology Launches

In March 2019, Platinum Stairlift launched its single tube curved stairlift, which is designed to fulfill the increasing demand for the domestic stairlifts. Additionally, the company has also chosen Dolphin Mobility as an integral launch partner of the new product which will also lead to evaluation and development of the product leading to provide reliability the customers.

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North America Used Stair Lift Market Size to Grow at a CAGR of 5.8% During 2021-2026