Elderly Mobility Vehicle
Market
is an electrically fueled vehicle intended for the individual who are
elder or disabled and help them to move from one place to another. These
scooters are similar to wheelchair but equipped with electric batteries.
Mobility vehciles are driven through a steering tiller which gives direction of
motion to the front wheels. Nowadays, these vehicles/scooters are replacing
the old mobility devices such as wheelchair since the improvement in the
design of mobility scooters has expanded its use indoor to outdoor.
Based on
the number of wheels, elderly mobility vehicles are segmented as follows:
three-wheeler, four-wheeler and five-wheeler. More than 75% market is captured
by four wheeler mobility vehciles/scooter.
Moreover,
increasing geriatric population in countries like North America, Canada and
U.K. is expected to raise the demand for mobility scooters. Further, the key companies
are expected to cut the price of mobility vehicle for making it more
affordable and to make it available for the old and disable people at a lower
price.
Market Size and Forecast
The global Elderly Mobility Vehicle
market is anticipated to flourish at a CAGR of 5.3% over the period 2017-2024
and expected to garner revenue of USD 3.1 billion by 2024. The major factor for the rising
market of global mobility scooter
vehicle is technological advancement in the healthcare industry.
Geographically,
North America is holding the largest market and accounted for maximum market
share in the terms of revenue share. North America is expected to go on with
its dominance in the global mobility scooter market over the forecast period.
Various government reimbursement policies such as affordable care act (ACA),
older American Act (OAA) aims to provide remuneration to older and disable
person in U. S. Similar acts like DTCC in Canada is expected to uplift the
mobility scooter market in North America. Until now, North America has
accounted for more than 93% in the America.
Europe is
expected to show substantial growth during the forecast period due to rising
disposable income. Further, government schemes like motability charity scheme
in U.K. are the factor propelling the demand for mobility scooter. These
factors are expected to swell the demand of mobility scooters.
Furthermore,
Asia-Pacific is anticipated to showcase tremendous growth rate on the back of
the rising healthcare awareness and growing population.
Market Segmentation
By Design
Type
Boot
Scooters
Mid-size
Scooters
Road
Scooters
By Number
of Wheel
3-Wheeled
4-Wheeled
5-wheeled
By
Application
Commercial
Residential
By Drive
Power
Front
wheel drive
Rear wheel
drive
By Region
Global
Plywood Market is further classified on the basis of region as follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
The increasing
demand for mobility scooters is driven on the back of friendly government
initiatives and technological advancements in healthcare sector. Further,
favorable government policies and schemes is anticipated the fuel the demand
for mobility scooters in North America and Europe. One of the key factors
accounting for demand of mobility scooters in America is rising old age
population. The increasing patients of knee disorders are expected to spur the
demand for mobility scooters over the forecast period. Further, the market is
anticipated to witness strong growth in the demand owing to the rising consumer
awareness about the type of mobility products available. Moreover, partnerships
between government, mobility scooters manufacturers and healthcare companies
are likely to drive the global mobility scooters market.
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However,
absence of public infrastructure, relative high cost than wheelchairs, high
cardiovascular risk is likely to hamper the growth of global mobility scooters
market.
Key players
Pride Mobility
Drive
Medical
Golden
technologies
Solax
Mobility
Amigo
mobility international Inc.
Invacare
Corporation
Merits
Health Products Inc
Sunrise
Medical
Van Os
Medical B.V.
TGA
Mobility
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Mobility Scooter Market is segmented as follows:
By Design
Type Market Size & Y-O-Y Growth Analysis
By Number
of Wheels Market Size & Y-O-Y Growth Analysis
By
Application Market Size & Y-O-Y Growth Analysis
By Drive
Power Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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