Global Wheelchair Accessible Vehicle Converters Market Share Is Likely To Reach At A CAGR Value Of Around 4.10% By 2028

19-Oct-2022 | Facts and Factors

According to Facts and Factors, the global wheelchair accessible vehicle converters (WAVCs) market size was worth USD 7.30 billion in 2021 and is estimated to grow to USD 9.29 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.10 % over the forecast period. The report analyzes the wheelchair accessible vehicle converters market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the wheelchair accessible vehicle converters market.

Wheelchair-accessible vehicles enable people with physical disabilities to drive and board a vehicle without much assistance from a second person. A modified vehicle is a vehicle that has been equipped with wheelchair entry, such as a motorized lift or wheelchair ramp, and has had the inside area increased to accommodate a wheelchair. Conversions typically involve lowering a portion of the floor, modifying seating for wheelchair accessibility, and adding an exterior access point like a ramp with a lift. A power kneeling system is also included to lessen the ramp's slope.

Browse the full “Wheelchair Accessible Vehicle Converters Market Size, Share, Growth Analysis Report By Entry Type (Side Entry, Rear Entry), By Method (Ramps, Lifts), By Vehicle Type (SUVs, Vans, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/wheelchair-accessible-vehicle-converters-market

As the population ages and the frequency of traffic accidents rises, the prevalence of disabilities increases. Additionally, a rise in chronic medical disorders is also observed. Over the projected period, these factors are likely to propel the global wheelchair accessible vehicle converters market's growth. The product is being used more frequently worldwide to assist those who are physically impaired in reducing their need on others for mobility. Wheelchair accessible vehicle converters make it possible for people who are physically unable to perform basic duties, such as driving a car, to do so.

Furthermore, the business for wheelchair accessible vehicle converters will expand over the forecast period due to technology advancements and the growing demand for high-quality, safe healthcare activities. In addition, advantageous compensation plans in industrialized nations like the U.S. and Germany will increase consumer demand. However, the product's exorbitant price may limit the market's growth during the anticipated time frame.

The global wheelchair accessible vehicle converters market is segregated based on entry type, method, vehicle type, and region. Based on entry type, the market is divided into side entry and rear entry. Among these, rear entry led the market in 2021. Based on the method, the market is segmented into ramps and lifts. The ramps segment dominated the market in 2021. The market is classified into SUVs, vans, and others based on vehicle type. In 2021, vans dominated the market.

The global wheelchair accessible vehicle converters market has been divided into five regions based on geography: North America, Asia Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America dominated the wheelchair market for accessible vehicle converters. Wheelchair users constitute a sizable fraction of the population in North America. Because of the region's growing consumer affordability and established infrastructure, many areas in the country are wheelchair accessible. The need for wheelchair accessible car conversions among people with disabilities for work, education, and enjoyment has grown, as has government funding. Two significant drivers driving the industry are increased consumer affordability and the presence of technological advancement. Furthermore, the market is expected to grow during the forecast period due to the number of wheelchair users in the area and government-provided financial assistance.

Report Scope

Key players in the global wheelchair accessible vehicle converters market include Kirchoff Mobility, Freedom Motors USA, Allied Mobility, Brotherwood Automobility Limited, Vantage Mobility International, Rollx Vans, AMS Vans, Autech Japan, Inc., Universal Motions, Growings Mobility Group Limited, G.M. Coachwork Ltd., Sirius Automotive Ltd., Tripod Mobility.

Global Wheelchair Accessible Vehicle Converters Market is segmented as follows:

By Entry Type

• Side Entry
• Rear Entry

By Method

• Ramps
• Lifts

By Vehicle type

• SUVs
• Vans
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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