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
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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.
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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.
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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.
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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.
Market size value in 2021
|USD 143 Billion|
Market forecast value in 2031
|USD 187.29 Billion|
|CAGR of 5% from 2021 to 2031|
|Historical Data Available for||2016-2020|
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- 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
- Interior Electric Scooter Lifts and Carriers
- Electric Scooter Lifts and Carriers for Individuals
- Electric Scooter Lifts and Carriers for Healthcare Institutions
- Electric Scooter Lifts and Carriers for Old Age Homes
- Electric Scooter Lifts and Carriers Sold through Direct Sales
- Electric Scooter Lifts and Carriers Sold Online
Electric Scooter Lift and Carrier Market - Scope of Report
A recent study by Fact.MR on the electric scooter lift and carrier market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering electric scooter lifts and carriers.
The study also provides the dynamics responsible for influencing the future status of the electric scooter lift and carrier market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the electric scooter lift and carrier market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of electric scooter lifts and carriers across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of electric scooter lifts and carriers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative electric scooter lift and carrier markets?
- Which factors will impact the growth of electric scooter lifts and carriers?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the electric scooter lift and carrier industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for Electric Scooter Lift and Carrier Market are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global electric scooter lift and carrier market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the electric scooter lift and carrier market during the forecast period.
Country-specific valuation on demand for electric scooter lifts and carriers has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of electric scooter lifts and carriers, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering electric scooter lifts and carriers has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the Electric Scooter Lift and Carrier Market domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the electric scooter lift and carrier industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The worldwide electric scooter lift and carrier market was worth US$ 143 Bn in 2019.
The market is anticipated to expand at a CAGR of around 5% over the next ten years.
From 2016 to 2020, electric scooter lifts & carriers demand expanded at a CAGR of 4%.
Growing incidence of the global geriatric population with mobility issues is generating renewed opportunities for electric scooter lifts and carriers
The ease of transporting scooters or wheelchairs, together with growing demand for mobility scooters, is driving market growth.
The U.S is expected to yield 40% of the electric scooter lift and carrier industry until 2031
The U.K is anticipated to register a CAGR of 4% from 2021 to 2031
Japan is anticipated to register a robust 7% CAGR across the forthcoming decade
Electric scooter lifts and carriers for individuals will be most used, accounting for greater than 60% of market demand
Exterior outside & hitch mount carriers will account for 3/5th of global demand
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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