Individuals make up more than 60% of the Market for Electric Scooter Lifts and Carriers
Published : 14 Sep 2021 Industry: Consumer Goods
The worldwide electric scooter lift and carrier market is estimated to rise to US$ 187.29 Bn in 2031, registering a CAGR of 5% across the forecast period, concludes a recently published study by Fact.MR. Growth is being majorly spurred by increased emphasis on incorporating electric mobility.
From 2016 to 2020, the use of electric scooter lifts and carriers increased at a CAGR of around 4%, with key factors such as an increase in the geriatric population and an increase in the availability of solutions for geriatric and disabled individuals across developed and developing regions assisting growth.
People's growing interest in elderly care has given rise to the concept of geriatric tourism, which has piqued the interest of many tour operators. As these businesses have expanded, disability aid goods such as electric scooter lifts and carriers have gained appeal. Their demand is anticipated to increase. Individuals make up more than 60% of the market for electric scooter lifts and carriers. Nursing facility revenue is expected to increase at a higher rate.
Key Takeaways from the Market Study
- Revenue from online sales is anticipated to grow at a CAGR of about 6% throughout the projection period.
- Exterior lifts account for more than 60% of market revenue.
- Individual customers earned around US$ 95 Mn in revenue in 2020.
- U.S to account for 40% of global electric scooter lifts and carriers demand
- A CAGR of 4% is anticipated for the market in the U.K across the forecast period
- Japan to be an opportunistic market, surging at a growth rate of 7% until 2031
- Global market for electric scooter lifts and carriers to surge 1.3x until 2031
“One of the most prevalent difficulties with electric scooter lifts and carriers is vehicle compatibility. As a result, now is the moment for firms to focus on building lifts and carriers that can communicate with a wide range of vehicles,” says a Fact.MR analyst.
The report's major participants in the manufacture of electric scooter lifts and carriers are looking to extend their service networks through mergers and acquisitions. Among the noteworthy developments are
- In December 2018, Harmar LLC bought Pride Mobility's lifts and ramps product line. Harmar's electric scooter lift offering was increased as a result of this purchase, which also strengthened the company's R&D capabilities.
- In October 2018, Harmar introduced the LiftSquad Installation Support Network to its service portfolio. LifeSquad is able to assist almost 1,000 clients with installation each month.
More Insights Available
Fact.MR, in its new report, offers an unbiased analysis of the global electric scooter lifts and carriers market, analyzing historical demand from 2016-2020 and forecast statistics for 2021–2031.
The study reveals growth projections on the electric scooter lifts and carriers market on the basis of component (interior and exterior), end use (individual, healthcare institutions and old age homes) and sales channel (direct sales and online) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA).
Fact.MR’s Domain Knowledge in Consumer Products
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer products team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Shambhu Nath Jha
Sr. Consultant - Consumer Products