Wheelchair Accessible Vehicle Market: Lucrativeness of North America to Yield Super Growth

Published: Tue Jun 11 2019

Fact.MR has compiled several intrinsic aspects associated with wheelchair accessible vehicle in a new intelligence report and has provided future projections of wheelchair accessible vehicle market along with growth prospects across various regions during the assessment period, 2018-2028. According to the intelligence report, the wheelchair accessible vehicle market is projected to expand at a steady pace and its growing demand is expected to translate into sales crossing US$ 6 billion by end of the period of assessment (2028). This growth is led by increasing demand for hi-tech wheelchair accessible vehicles, growing medical tourism and assistance from governments across countries. Furthermore, wheelchair accessible vehicles are expected to witness increased adoption in developing countries of North America and Europe, with an increased demand in emerging economies of Asia Pacific excluding Japan (APEJ) region.

Growing stewardship towards improved travel experience for mobility challenged masses has garnered diverse improvements in terms of functionality and cost efficiency. Attributes such as easy access for wheelchairs, adequate legroom and headroom has significantly transformed mobility vehicles enormously. However, backed by improved mindfulness and perspectives besides high pricing brackets, wheelchair accessible vehicles witness greater adoption across developed markets across Europe and North America. Additionally, high concentration of vendors in these regions is poised to further influence wheelchair accessible vehicle market towards astral growth.

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With growing penetration of shared rise services, leading companies are aimed at diversifying their services, to cater to unmet needs of mobility challenged population. In this light, popular ridesharing services, Uber has lately unrolled its specialized services for differently abled, under its brands, UberAccess and UberAssist.  Developments as such are expected to bolster long term growth in wheelchair accessible vehicle market.

Wheelchair Accessible Vehicle Market: Overview

The wheelchair accessible vehicle market has been analyzed in detail to offer definitive forecast insights on the market for the period 2018-28. This report is an exhaustive compilation of a detailed overview of wheelchair accessible vehicle market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.

The report aims to offer readers with ample competitive advantage and cues on market entry barriers, based on which aspiring market entrants as well as established players can drive profitable investment discretion. To aid readers’ understanding the report is systematically classified into detailed chapters. In its trailing sections the report also includes a detailed chapter on segmental analysis of wheelchair accessible vehicle market to offer veritable insights on segments’ historical and future growth estimations. Further in the course of the report readers are also enlightened about regional assessment of pivotal factors. The report also entails a country-wise assessment and forecast estimations for wheelchair accessible vehicle market.

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Wheelchair Accessible Vehicle Market: Small Yet Big

Wheelchair accessible vehicles come in varying sizes from small cars to full sized vans. Of these, the small wheelchair accessible vehicles have gained higher traction since the past couple of years, given their various benefits revolving around pricing, running costs and maneuverability. As compared to full sized wheelchair accessible vehicles, small counterparts are fairly priced offering similar operational efficiency and convenience. Moreover, small wheelchair accessible vehicles are economical in terms of fuel consumption and overall running costs and are also easy to maneuver owing to less space requirement.

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