Commercial Building Wheelchair Lifts to Grow at a CAGR of 8 % During 2017-2023 | Arizton

CHICAGO - April 4, 2018 - PRLog -- According to a recent study, the global wheelchair lift market size is likely to reach revenues of over $2.6 billion by 2023 and is estimated to grow at a CAGR of around 10% during 2018-2023

Arizton's recent market research report on the global wheelchair lift market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by automotive lift (occupied lifts and unoccupied lifts), by building lift (residential and commercial), by power type (electric and hydraulic), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.

The growing focus on customization and personalization of wheelchair lifts and stair lifts will propel the development of the global market. The prevalence of effective reimbursement policies, universal health schemes, and private insurance is expected to boost the demand of the global wheelchair lift market.

Request for your free sample today!
https://www.arizton.com/market-reports/wheelchair-lift-ma...

The increasing focus on wheelchair-assisted mobility worldwide is augmenting the demand for building wheelchair lifts in private homes and commercial buildings. Building wheelchair lifts are categorized into two broader segments that include residential and commercial lifts. Residential lifts are designed for homes for indoor and outdoor use to assist persons with disabilities in accessing an area or activity. Whereas, commercial lifts are primarily used between floor levels, for easy access to stages or concert pits and at the entrance/exit of public buildings.

Residential Building Wheelchair Lifts To Dominate the Global Market

Residential wheelchair lifts are known as platform lifts and are either powered by hydraulic or electrical energy that offers easy access to persons with disabilities to negotiate around the architectural hurdles in the location.

The growing geriatric population across the world and the rise in solutions for sophistication in lifestyles are two major factors propelling the growth of the residential sector in the building wheelchair lifts market. North America dominates the residential sector followed by Europe. The most widely available designs on the market are:

• Enclosed Model: This model is a practical outdoor platform lift in which the wheelchair and its rider stay on the top of a platform that is enclosed with walls as the lift elevates up or down.

• Shaftway Model: This model fits in between existing walls just like a normal elevator.

• Stage Model: This design contains a sole platform for the wheelchair to stand on, typically used for short heights such as a stage or onto a vehicle.

• Opal Model: The construction of this opal wheelchair lift is like the enclosed model but with an open ceiling.

Commercial Building Wheelchair Lifts to Gain Traction by 2023

Commercial wheelchair lifts are employed by businesses or commercial establishments for hassle-free mobility assistance to elderly or differently abled individuals in and out of public buildings. New commercial spaces are installing vertical wheelchair lifts rather than space-consuming ramps to offer ease of access. Leading manufacturers are developing innovative solutions for making wheelchair lifts more convenient and consumer-friendly to attract more consumers. The companies are offering products in terms of size, robustness, lifting capabilities, and power-intake capacity are fueling the adoption of the commercial building wheelchair lifts in the global market. Commercial building lift is extensively used in schools, hospitals, auditoriums and the installation are dictated by the location as safety and accessibility factors play an important role. The commercial building wheelchair lifts market is expected to grow at a CAGR of approximately 9% during the forecast period.

Commercial wheelchair lifts are equipped with the emergency stop button and additional safety features for users such as non-skid desk and a folding toe plate, which acts as a ramp for easy entry and exit and flips up while in motion to secure the wheelchair lift. They are equipped to operate under any climatic conditions and provide easy maintenance. The two categories of commercial building wheelchair lifts are:

• VPLs: These wheelchair lifts are used to raise or lower the person with disabilities in a vertical manner to access into or within commercial places or public buildings.

• IPLs: These wheelchair lifts are designed to carry the person with disabilities up and down on a straight or curved stairway in commercial spaces.

View the top trends in the global wheelchair market:
https://www.arizton.com/news/press-release/global-wheelch...