NEW YORK, Aug. 16, 2021 /PRNewswire/ — According to the latest market research report on stair lift market from Technavio, the market is expected to expand at a healthy CAGR of 3.69%. The report enlists vendors based on their dominant and strong positions in the market. Some dominant vendors include 101 Mobility LLC (US), Acorn Stairlifts Inc. (US), AmeriGlide Inc. (US), Ascent Mobility (US), Bruno Independent Living Aids Inc. (US), Handicare Group AB (Sweden), Harmar (US), Savaria Corp. (Canada), Stannah Stairlifts Inc. (US), and TK Elevator GmbH (Germany).
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The stair lift market will witness a neutral & inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Addressing Potential Impacts by Facilitating changes in Process Designs
- Focusing on agile execution of proposed and approved changes.
- Assessing Impact on Critical IT infrastructure and Software System
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Top 3 Stair Lift Market Players
101 Mobility LLC
The company offers different types of products such as stairlifts, mobility and accessibility products, and others. The company provides three types of stairlifts such as straight, custom curved, and outdoor.
Acorn Stairlifts Inc.
The company provides different types of stairlifts under the brand name acorn 130, Acron 180, and others.
The company caters to the industrial machinery industry by offering three types of stairlifts such as rave 2 stairlift, platinum curved, and horizon outdoor.
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Stair Lift Market 2021-2025: Segmentation
Stair lift market is segmented as below:
- North America
- South America
The stair lift market is driven by the growing prevalence of disabilities, technological advances, and the increasing number of healthcare facilities. The residential segment was the highest revenue-generating end-user segment in 2020. In terms of geography, Europe is anticipated to account for 37% of the overall growth during the forecast period mainly due to vendors focusing on developing innovative stair lifts for aged and disabled people. These factors such as are expected to trigger the stair lift market toward witnessing a CAGR of over 3.69% during the forecast period.
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