Stair Lifts and Climbing Devices Global Market Report 2024

The stair lifts and climbing devices market size has grown rapidly in recent years. It will grow from $1.9 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth observed during the historical period can be attributed to factors such as advancements in healthcare, an increase in the prevalence of disabilities, heightened awareness and accessibility regulations, a growing aging population, and changing consumer preferences.

The stair lifts and climbing devices market size is expected to see strong growth in the next few years. It will grow to $3.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated growth in the forecast period can be attributed to increasing global awareness of accessibility, a focus on environmental sustainability, a rise in home healthcare services, and the prevalence of chronic health conditions. Major trends expected in the forecast period include the incorporation of enhanced safety features, the development of compact and space-saving designs, emphasis on modularity and flexibility, promoting quiet and efficient operation, and advancements in battery technology for improved performance.

The anticipated increase in the prevalence of disabilities is set to drive the growth of the stair lifts and climbing devices market in the future. Disabilities, encompassing mental or physical conditions that hinder specific tasks and interaction with the environment, often arise from chronic disorders and impairments. Stairlifts and climbing devices play a crucial role in enhancing mobility for individuals with disabilities, enabling them to navigate between floors independently and eliminating the need for assistance or reliance on caregivers. As per the April 2023 report by the World Health Organization (WHO), approximately 1.3 billion individuals worldwide faced severe disabilities, constituting 16% of the global population or one in six people. Consequently, the increasing prevalence of disabilities is a key driver for the growth of the stair lifts and climbing devices market.

The expected rise in the geriatric population is poised to fuel the growth of the stair lifts and climbing devices market. The geriatric population, typically individuals aged 65 and older, utilizes stair lifts and climbing devices to foster independent mobility within their homes, mitigating the risks associated with navigating stairs. According to October 2022 data from the World Health Organization, globally, the elderly population, aged 60 or older, is projected to reach 2.1 billion by 2050, with one in six individuals falling into this age group by 2030. Hence, the increasing geriatric population serves as a driving force for the growth of the stair lifts and climbing devices market.

Technological advancement has emerged as a prominent trend in the stair lifts and climbing devices market, with major players focusing on innovative product development. An exemplar is the Flow X stairlift introduced by UK-based Pearson Lloyd in April 2021. This revolutionary product prioritizes ergonomics and aesthetics, featuring patented Advanced Swivel Leveling (ASL) technology to ensure optimal distances between the chair and staircase. The ASL technology allows users to get on and off without twisting their bodies. Additionally, it incorporates a built-in call feature for users to contact family, friends, or medical teams while the chair is in motion.

Major companies in the stair lifts and climbing devices market are directing their efforts toward the development of advanced locking modular rail lifts to address evolving accessibility needs. Advanced locking modular rails are customizable rail systems with enhanced safety features for secure and adaptable installation in stair lifts and climbing devices. For instance, in July 2021, AmeriGlide launched the AmeriGlide UP stairlift, featuring cutting-edge features such as a fully automated footrest, swivel seat, and 100% recyclability.

In March 2021, Savaria Corporation, a Canada-based manufacturer of accessibility equipment, completed the acquisition of Handicare Group for an undisclosed amount. This strategic acquisition expands Savaria's line of elevators and wheelchair platform lifts. Handicare Group, based in the UK, specializes in the development and manufacturing of straight, curved, and outdoor stairlifts.

Major companies operating in the stair lifts and climbing devices market report are ThyssenKrupp Elevator Technology, Maine Accessibility Corporation, AEL Inc., Leaf Home Safety Solutions LLC, Savaria Corp, MobilityWorks LLC, Handicare Stairlifts Inc., Bruno Independent Living Aids Inc., Stannah Lifts Holdings Ltd., ProCare Medical, Zonzini AB, Garaventa Lift Group, Hiro Lift HillenkÖTter + Ronsieck Gmbh, Harmar Mobility LLC, Lifeway Mobility LLC, Otolift Stairlifts Ltd., Platinum Stairlifts Limited, Access BDD, Arrow Lift, AmeriGlide, Amramp Accessibility, American Elevator Corporation, Brooks Stairlifts Limited, Hoveround Corporation, Acorn Stairlifts Inc.

North America was the dominant region in the stair lifts and climbing devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the stair lifts and climbing devices market report during the forecast period. The regions covered in the stair lifts and climbing devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the stair lifts and climbing devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of stair lifts and climbing devices include straight stair lifts, curved stair lifts, standing stair lifts, perch stair lifts, and others. A straight stair lift is a motorized chair or platform designed for transporting individuals up and down a straight staircase. These devices contribute to facilitating movement on stairs, improving home accessibility, and enhancing independence. The various modalities include indoor and outdoor options with alternating current and direct current operation modes, catering to diverse end-users such as hospitals, homecare, and others.

The stair lifts and climbing devices market research report is one of a series of new reports that provides stair lifts and climbing devices market statistics, including stair lifts and climbing devices industry global market size, regional shares, competitors with a stair lifts and climbing devices market share, detailed stair lifts and climbing devices market segments, market trends and opportunities, and any further data you may need to thrive in the stair lifts and climbing devices industry. This stair lifts and climbing devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The stair lifts and climbing devices market consists of sales of inclined platform lifts, outdoor stairlifts, and commercial stairlifts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.