Electric Scooter Lift and Carrier Market

Market Outlook for Electric Scooter Lift and Carrier

The global electric scooter lift and carrier market is expected to grow to US$ 187.29 Bn from US$ 143 Bn in 2019, anticipated to expand 1.3x between 2021 and 2031. Vehicle mobility lifts have surged in popularity, assisting physically disabled people to transport their scooters or wheelchairs while driving long distances. Furthermore, these lifts are mounted to the vehicle's exterior. Thus, the convenience of transporting scooters or wheelchairs, along with rising demand for mobility scooters, is aiding market expansion.

Key Points Addressed in Electric Scooter Lift and Carrier Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• Recommendation on Key Winning Strategies

Electric Scooter Lift & Carrier Revenue Analysis (2016-2020) Vs Outlook (2021-2031)

From 2016 to 2020, electric scooter lifts and carriers sales increased at a CAGR of around 4%, with key factors assisting this growth including an increase in the geriatric population as well as an increase in the availability of solutions for geriatric and disabled individuals across developed and developing regions.

The COVID pandemic has had a significant impact on the market, with more than 44% unit sales hindered owing to disruptions in manufacturers' shipping capacity caused by tight lockdown regulations. Furthermore, as a result of global supply chain disruptions, demand destruction, and changes in consumer behavior, the worldwide electric scooter lift and carrier market has been affected.

According to Fact.MR- a market research and competitive intelligence provider, the market is expected to grow at a CAGR of about 5% from 2021 to 2031. People's rising interest in senior care has given rise to the notion of geriatric tourism, which has sparked the interest of a considerable number of tour operators.

How is an Expanding Geriatric Population Pool Fueling Growth?

In recent years, the world has witnessed an unprecedented increase in the global geriatric population levels, ascribed to improved life expectancy and decreasing fertility rates. Consequently, old-age health complications have also inclined.

According to a United Nations report, there were 727 million persons aged 65 years or over in 2020. In the next 30 years, this number is projected to more than double, reaching over 1.5 billion by 2050. Hence, problems related to physical mobility are bound to increase.

Hence, automotive manufacturers are equipping vehicles with highly advanced electric scooter lifts and carriers, enabling elderly people to carry their wheelchairs or scooters over long-haul distances. Demand will be especially strong across such regions as Japan, Europe and North America.

How are Governmental and NGO Initiatives Spurring Adoption?

Incentives and initiatives by various governments and non-governmental organizations to encourage the usage of electric scooters are projected to have a favorable influence on market growth throughout the forecast period. The rising popularity of mobility electric scooters is projected to boost demand for elevators and carrier systems.

For instance, in 2015, the Indian government formulated the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) Scheme to increase EV uptake across the country, including slashing GST rates from 12% to 5%. This will likely boost popularity of electric scooter lifts and carriers in the long run.

Similarly, as of July 2021, at least 47 states in the District of Columbia in the U.S offer to support deployment of alternative fuel vehicles or EVs and supporting infrastructure, either through state legislation or private utility incentives. This will spur uptake of electric scooter lifts and carriers across the country.

Will Functionality Enhancements Bode Well for Market Growth?

While the market for electric scooter lifts and carriers has already gained pace, now is the time to enhance fundamental functionality and incorporate new features to make the product more appealing.

Although modifications to the hydraulics of these lifts may yield positive results in the short future, making these lifts compatible with the majority of automobiles will benefit families with more than one car. In addition, ensuring a strong after sales service might potentially lead to higher income for market participants.

Country Wise Analysis

What is the Demand Outlook for the U.S Market?

The U.S. dominated the worldwide market in 2019, capturing over 40% revenue, and will continue to do so in forthcoming years. This expansion can be ascribed to the region's high product demand.

Furthermore, the existence of well-known firms that make items in accordance with the criteria established by local regulatory bodies is expected to assist the region's growth.

Additionally, the Department of Transportation (DoT) has specified a set of rules and regulations governing the manufacture, processing, and transportation of electric scooters utilizing lifts and carriers. This includes safe transportation of electric bikes with appropriate carriers across long distance.

Why U.K. is a Lucrative Market for Electric Scooter Lifts and Carriers?

U.K. is anticipated to increase significantly throughout the projection period. This expansion can be attributable to an expanding target demographic and increased demand for mobility electric scooters.

In March 2020, the U.K Department of Transport announced a consultation into exploring new transportation models that include e-scooters and e-cargo bikes as alternatives to other public transport. Alongside this, it announced funding of £90 million ($112 million) for three new Future Transport Zones to trial these new services.

Consequently, demand is anticipated to accelerate in forthcoming years, even amongst individual users, which will ultimately impel the need for electric scooter lifts and carriers. Fact.MR anticipated the U.K to register a CAGR of 4% until 2031.

What Makes Japan a Good Market for Electric Scooter Lifts and Carriers?

In 2020, Japan accounted for more than 7% of the worldwide market. In Japan, around 28% of the entire population is above the age of 65.

In addition, Japan's well-established healthcare infrastructure, as well as a significant percentage of family budget devoted to senior care, make it an excellent market for the sale of electric scooter lifts and carriers.

Category Wise Insights

Why are Exterior outside & Hitch Mount Carriers Gaining Ground?

In terms of revenue, the exterior category led the market in 2019 with a share exceeding 3/5th and is expected to grow at the fastest CAGR from 2021 to 2031. This can be ascribed to the advantages provided by these devices, such as the ability to save boot space.

Electric scooter lifts and carriers must be hitch-mounted on the back of smaller vehicles and sedans. Such outside systems, however, are suspended directly for transporting small-sized scooters or rest on an externally built platform for hauling bigger scooters.

Why are Individual Electric Scooter Lifts and Carriers in High Demand?

Individuals account for more than 60% demand for electric scooter lifts and carriers. This is majorly attributed to the fact that every household has at least one or more geriatric family member who require mobility assistance.

Likewise, demand from old age homes is bound to increase in the long-run, especially across developing countries such as India, China, Japan and Southeast Asia.

Competitive Landscape

The report's key participants in the production of electric scooter lifts and carriers are pursuing mergers and acquisitions as well as expanding their service networks. Among the significant developments are:

• Harmar LLC purchased Pride Mobility's lifts and ramps product line in December 2018. This acquisition expanded Harmar's electric scooter lift offering while also strengthening its R&D capabilities.
• Harmar added the LiftSquad Installation Support Network to its service portfolio in October 2018. Every month, LifeSquad is able to assist almost 1,000 clients with installation.

Report Scope

Attribute	Details
Market size value in 2021	USD 143 Billion
Market forecast value in 2031	USD 187.29 Billion
Growth Rate	CAGR of 5% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	US Canada Germany U.K. France Italy Spain Poland Russia China Japan South Korea India Thailand Malaysia Vietnam Indonesia Australia New Zealand GCC Countries Turkey Northern Africa South Africa
Key Market Segments Covered	Type End Use Sales Channel Region
Key Companies Profiled	Bruno Independent Living Aids Inc. EZ Carrier Ford Smart Mobility, LLC Harmar Mobility, LLC Magneta Trailers, Inc. All Terrain Medical and Mobility LLC WheelChair Carrier Titan Brands Travel Buggy
Pricing	Available upon Request

Key Segments Covered

• Component

  • Interior Electric Scooter Lifts and Carriers
    • Platform Electric Scooter Lifts and Carriers
    • Crane Style Electric Scooter Lifts and Carriers
  • Exterior Electric Scooter Lifts and Carriers
    • Outside & Hitch Mount Electric Scooter Lifts and Carriers
    • Wheeled Electric Scooter Lifts and Carriers

• End Use

  • Electric Scooter Lifts and Carriers for Individuals
  • Electric Scooter Lifts and Carriers for Healthcare Institutions
  • Electric Scooter Lifts and Carriers for Old Age Homes

• Sales Channel

  • Electric Scooter Lifts and Carriers Sold through Direct Sales
  • Electric Scooter Lifts and Carriers Sold Online