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Vehicles for Disabled Market: Innovation, Demand and Opportunities 2019-2027

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Vehicles for Disabled Market: Innovation, Demand and Opportunities 2019-2027

October 13
00:27 2020
Vehicles for Disabled Market: Innovation, Demand and Opportunities 2019-2027

Vehicles for Disabled Market
Vehicles for Disabled Market by Vehicle Type (Adaptive Four-Wheeler, Mobility Scooter), Manufacturer Type (OEM and Third-Party Customization), Entry Mechanism, Entry Configuration, Driving Option, Ownership, and Region

The Vehicles for Disabled Market is projected to reach USD 6.3 billion by 2027 from an estimated USD 2.6 billion in 2019, at a CAGR of 11.7% during the forecast period. Increasing emphasis on providing equality to disabled people in terms of accessibility & mobility solution and improving healthcare infrastructure in developing countries is expected to boost the market.

The market in North America is projected to experience steady growth owing to technological advancement and growing demand of quality & safe healthcare services by the disabled people, while the Asia Pacific market is the fastest-growing market due to the government initiatives and investment in healthcare infrastructure. However, high cost and lack of medical reimbursement act as restraining factors.

The adaptive four-wheeler vehicle for disabled market is led by globally and regionally established players such as Toyota Motor Corporation (Japan), Vantage Mobility International (US), BraunAbility (US), Revability (US), and Mobility Works (US). The mobility scooter vehicle for disabled market is led by globally and regionally established players such as Pride Mobility (US), Sunrise Medical Holdings (Germany), Invacare (US), KYMCO Global (Taiwan), and Amigo Mobility International (US).

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Mobility scooter segment is estimated to be the fastest-growing market during the forecast period

The mobility scooter segment is expected to grow fastest among others during the forecast period. Mobility scooters are electric scooters, representing a low-cost way to be able to travel independently, both indoors and outdoors. People with a disability tend to prefer mobility scooters over electric wheelchairs due to better efficiency and less manual effort needed.

Many mobility scooter manufacturers are investing in research & developments to bring a more innovative product to attract disabled people. There have been various advancements to make mobility scooters more efficient. For instance, mobility scooters can move at a speed of 4 to 8 mph, and the seats of these scooters are adjustable according to the height of the person. Factors such as rising government initiatives & schemes, rise in the number of orthopedic diseases, and technological advancement are likely to propel the market of mobility scooter for disabled.

Asia Pacific market is expected to register the fastest growth during the forecast period

Asia Pacific is expected to witness the fastest growth, followed by Europe and North America during the forecast period. The market growth in the region can also be attributed to the increasing developments in healthcare infrastructure, increasing awareness towards mobility solution along with several initiatives by private organizations as well as governments of the countries.

Japan’s growing aged population and government initiatives are driving the expansion of advanced technology for vehicles made for disabled people in the country. Toyota is leading the market for such vehicles in Japan. The company has invested heavily to develop autonomous vehicles for disabled people.

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North America is expected to be the largest market during the forecast period

North America is expected to be the largest market, followed by Europe. The region comprises developed economies such as the US and Canada. The region is the home of many leading players such as Vantage Mobility International, Braunability, Revability, Inc., and Mobility Works.

There are various government and private associations in the US working for disabled people. The association includes Accessible Vans of America (AVA), National Mobility Equipment Dealers Association (NMEDA), National Highway Traffic and Transportation Safety Administration (NHTSA) and Wheelers Accessible Van (WAV) Rentals. Factors such as technological advancements for better fuel efficiency and the advent of electric vehicles for disabled people have, in turn, augmented the demand for such vehicles in this region. Leading car-sharing service providers in major US and Canada are finding ways to exploit the exciting opportunities in the market through the introduction of WAV taxi services.

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