Apr 22, 2021
Large Geriatric Population to Propel Demand for Electric Scooter Lifts and Carriers, Evaluates Fact.MR
by Team Fact.MR
According to United Nation’s estimates, over 2 Bn of the global population will be over aged 60 years by the year 2050. Of this, around 20% or nearly 1.2 Bn will be over 80 years of age. These statistics are indicative of the market potential of geriatric support products such as electric scooter lifts and carriers. With the betterment of global human development index, elderly care as a proportion of household budgets has been increasing, consequently suggestive of the market of several products that support growing age.
As per a new report published by Fact.MR, the global electric scooter lift and carrier market is anticipated to exceed a valuation of US$ 152 Mn by 2021, and is expected to expand at a CAGR of around 5% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- In 2020, North America and Europe together accounted for over 60% revenue of the global electric scooter lift and carrier market.
- The market in both, East and South Asia is estimated to grow over twofold from 2021 to 2031.
- Exterior lifts account for over 60% of market revenue.
- In 2020, the market generated around US$ 95 Mn revenue from individual consumers.
- During the forecast period, revenue through online sales is expected to increase at a CAGR of around 6%.
- The global market is moderately concentrated, where companies such as Bruno Independent Living Aids Inc, Ez Carrier, and Harmar Mobility, LLC account for a majority of the market share.
“Vehicle compatibility has started to surface as one of the common issues in electric scooter lifts and carriers. Hence, it is the right time that companies start focusing on developing lifts and carriers that are interoperable among a large array of cars,” says a Fact.MR analyst.
Partnering with travel and tour companies that are focused on senior citizens can considerably boost the revenue of electric scooter lift and carrier manufacturers. Growing number of senior citizen-centric tour and travel operators can build awareness about the benefits of such lifts and carriers, thus boosting sales growth.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global electric scooter lift and carrier market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis of type (interior lifts –platform lifts, crane style lifts and exterior lifts – outside and hitch mounted lifts, wheeled lifts), end use (individual consumers, healthcare institutions, and old age homes), and sales channel (direct sales and online), across seven major regions of the world (North America, Latin America, Europe, MEA, East Asia, and South Asia and Oceania).
Fact.MR’s Domain Knowledge in Consumer Products
Our consumer products consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the consumer products sector. Our expertise in recognizing the challenges and trends impacting the global consumer products industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant - Consumer Products
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