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Market Research Report

Elderly Mobility Vehicle Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-279 Category: Automotive & Transportation

Global Elderly Mobility Vehicle Market Overview

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.

Fig: Global Elderly Mobility Vehicle Market share (%): By number of wheels – 2016

Elderly Mobility Vehicle Market

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.

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

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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