Medical tourism continues to influence the adoption of wheelchair accessible vehicles coupled with financial assistance from federal governments. Furthermore, demand for wheelchair accessible vehicles has also been impacted with growing road accidents worldwide. According to World Health Organization (WHO) analysis, road accidents are one of the leading causes of mortalities and disabilities. The wheelchair accessible vehicle market has also been influenced by new design features and developments incorporated by manufacturers in order to diversify their product offerings.
Furthermore, while medical transportation has given significant traction to adoption of wheelchair accessible vehicles, the wheelchair accessible vehicle market is also fueled with increasing demand for wheelchair accessible vehicles for personal use that largely includes transportation of disabled or aged people. Albeit a steady growth, the wheelchair accessible vehicle market is consolidated given a handful of wheelchair accessible vehicles manufacturers that is likely to impact the demand and supply scenario worldwide.
Understanding key aspects of the wheelchair accessible vehicle market, Fact.MR has come up with a new research report that comprehensively describes vital factors influencing growth, both in a negative and in a positive manner. According to the research report on wheelchair accessible vehicle market, it is projected to expand at a steady CAGR of 5.4% throughout the period of assessment with respect to value, 2018-2028. The report also reveals that sales of wheelchair accessible vehicles continue to remain concentrated in developed countries of North America and Europe. That said, North America is expected to reflect a higher market attractiveness with respect to adoption of wheelchair accessible vehicles during the assessment period.
Wheelchair Accessible Vehicle Market: Small Yet Big
Wheelchair accessible vehicles come in varying sizes from small cars to full sized vans. Of these, the small wheelchair accessible vehicles have gained higher traction since the past couple of years, given their various benefits revolving around pricing, running costs and maneuverability. As compared to full sized wheelchair accessible vehicles, small counterparts are fairly priced offering similar operational efficiency and convenience. Moreover, small wheelchair accessible vehicles are economical in terms of fuel consumption and overall running costs and are also easy to maneuver owing to less space requirement. Furthermore, adoption of small wheelchair accessible vehicles such as small minivans and passenger cars are gaining increasing traction for personal use as well as in medical transportation. These aspects have boosted the growth in adoption of small size wheelchair accessible vehicles, in turn driving sales of small size equivalents during the period of assessment.
On the contrary, full size wheelchair accessible vehicles are witnessing demand from medical facilities and public transportation. Full size wheelchair accessible vehicles such as vans and buses are expected to gain ground given their high transportation capacities and boot space. However, full size wheelchair accessible vehicles are beset by challenges associated with fuel and operational efficiency and maneuverability, which has a limiting impact on the sales of full size wheelchair accessible vehicles and as a consequence on the overall market during the period of forecast.
Wheelchair Accessible Vehicle Market: Consolidation and Cost – A Major Challenge
Consolidated wheelchair accessible vehicle market is expected to face a huge challenge with respect to supply and demand scenario, as the overall market represents only a handful of wheelchair accessible vehicles manufacturers. Wheelchair accessible vehicles manufacturing involves various stages along with involvement of trained personnel. That said, the cost of production of wheelchair accessible vehicles is relatively higher than standard vehicles, making them price intensive. This is expected to pose challenges with respect to adoption of wheelchair accessible vehicles, in turn restraining the growth of the wheelchair accessible vehicle market.
Wheelchair Accessible Vehicle Market: Rental Services to Shape Demand
High cost of production and price intensive nature of wheelchair accessible vehicles continue to be a growth limiting aspect of the market worldwide. That said, the trend of “on-rent” wheelchair accessible vehicles has prevailed as a new growth propeller, embossing a positive impact on its market across various countries in the globe. Various dealers operating in wheelchair accessible vehicle market have started renting wheelchair accessible vehicles with additional features such as secure wheelchair tie downs, powered ramp as a safety backup and high fuel capacity to reduce stoppages. Affordable and easy trend of wheelchair accessible vehicles renting services has increased the convenient quotient for medical facilities in case of emergencies as well as general public, consequently shaping the demand for wheelchair accessible vehicles worldwide.
Wheelchair Accessible Vehicle Market: Lucrativeness of North America to Yield Super Growth
According to United States Census Bureau, around 20 percent of people in the US (about 2.35 million) are suffering from disabilities. This has translated into increasing adoption of wheelchair accessible vehicles in the region, with a large concentration in United States, given its favorable transportation infrastructure. Moreover, increased government support coupled with presence of large players in the country have facilitated growth in demand and adoption of wheelchair accessible vehicles, making North America a lucrative market with respect to sales volume of wheelchair accessible vehicles during the period of forecast.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Opportunity Analysis of the Wheelchair Accessible Vehicle Market Highlights Lucrative Business Propositions for Key Players
The global wheelchair accessible vehicle market is anticipated to witness prevalence of several trends that are likely to shape the supply and demand scenario of wheelchair accessible vehicles across countries in the globe. A recent interesting research study by Fact.MR highlights on some of the key trends that are expected to sketch the future of the global wheelchair accessible vehicle market, thereby throwing enormous growth opportunities in the way of participants involved in the manufacturing of wheelchair accessible vehicles.
The wheelchair accessible vehicle market study provides coherent market intelligence on the key revenue growth industry opportunities drivers, challenges and industry trends that will eventually impact the growth trajectory of the global wheelchair accessible vehicle market. An overview of the global wheelchair accessible vehicle – in light of the current global automotive and healthcare industry scenario – reveals interesting facets relating to the adoption of wheelchair accessible vehicles across key regional markets in the globe. An assessment of some of the wheelchair accessible vehicle market indicators provides a detailed analysis derived from the global wheelchair accessible vehicle supply chain analysis, value chain analysis, and the business performance of wheelchair accessible vehicle across various regional wheelchair accessible vehicle markets. Moreover, vital insights on key companies engaged in the global wheelchair accessible vehicle market adds to the credibility of this extensive research intelligence report.
Exhaustive Research on the Global Wheelchair Accessible Vehicle Market by Means of Proven and Tested Analysis
This comprehensive research publication on the global wheelchair accessible vehicle market is underpinned by a robust research methodology and various assessment factors. The analysts at Fact.MR have leveraged key wheelchair accessible vehicle market indicators and have put forth intricate aspects of the global wheelchair accessible vehicle market to provide weighted analysis on the performance of the global market for wheelchair accessible vehicles during the assessment period. An investment feasibility matrix provided in the report offers vital information to manufacturers of wheelchair accessible vehicles with respect to key regional revenue pockets they can invest in. Porter’s Five Forces Analysis has been employed to study the competitive forces influencing the revenue growth of the global wheelchair accessible vehicle market. A technology roadmap has been incorporated for the benefit of readers, to help them understand several technological advances that are expected to trigger the adoption of wheelchair accessible vehicles across the healthcare-automotive industry value chain. Any market study would be incomplete without a detailed cost structure analysis and that said, the report on the wheelchair accessible vehicles market provides a complete cost structure analysis of wheelchair accessible vehicles across influencing regional markets.
The analysts have also carried out a detailed forecast of the global wheelchair accessible vehicle market scenario and have categorized their forecasts on the basis of an optimistic scenario, a likely scenario, and a conservative scenario of wheelchair accessible vehicles manufacturing and sales during the period of review. Price point analysis and assessment by region and by different types of wheelchair accessible vehicles along with details of the factors influencing pricing are also highlighted in the global wheelchair accessible vehicle report to obtain more clarity.
Complete outlook of the wheelchair accessible vehicle market covering current and projected market values, price indices, volume projections and analysis, and assessment of the regional demand for wheelchair accessible vehicles has been extensively covered in a dedicated section of the global wheelchair accessible vehicle market report. The estimation of the regional and global markets for wheelchair accessible vehicles is captured in US$ Million with its volume data in terms of absolute units (number of wheelchair accessible vehicles sold) in the global market. A year-on-year growth appraisal along with market attractiveness analysis quantifies the insights phrased in the research report. Along with vehicle make type, aforementioned matrices have also been tracked on the basis of vehicle type, entry configuration, end use application and entry mechanism.
Regional Wheelchair Accessible Vehicle Markets Studied in Depth to Put Forth a Clear Picture of the Global Scenario
The report on the global wheelchair accessible vehicle market encapsulates detailed sectional analysis that represents forecasts for the various regional markets for wheelchair accessible vehicles. These sections throw light on the regional macros (economic, political and business outlook) that are likely to influence the growth in sales of wheelchair accessible vehicles. Volume forecasts, market valuation and analysis, price point assessment and price indices and impact assessment of factors influencing wheelchair accessible vehicle market growth along with a country level data evaluation with respect to demand of wheelchair accessible vehicles have been tracked and presented in the wheelchair accessible vehicle market report. Besides this, the Y-o-Y projections of growth for wheelchair accessible vehicle make type, vehicle type, entry configuration and end use application for all the regional markets for wheelchair accessible vehicles are included in the study.
Competitive Assessment of Key Participants Completes the Global Wheelchair Accessible Vehicle Intelligence Package
Fact.MR report on the global wheelchair accessible vehicle market features a section on the key companies currently operating in the market for wheelchair accessible vehicles across the globe. A dashboard view of the competition includes important information on the Tier players engaged in the manufacturing and distribution of wheelchair accessible vehicles across key regional and sub-regional markets. Market share analysis of these top players presents the readers with useful insights associated with dominance of various companies in the global wheelchair accessible vehicle market space. Top company profiles are also covered in this section with information on wheelchair accessible vehicle production facilities along with a detailed SWOT analysis. An intensity mapping of key participants in the global wheelchair accessible vehicle market provides useful information for wheelchair accessible vehicle market players to understand the current wheelchair accessible vehicle market trends as well as various forces determining the competition levels in the global wheelchair accessible vehicle market.
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