Adaptive Wheel for Wheelchairs: Introduction
- The wheelchair is one of the most commonly used assistive device to promote mobility and enhance the quality of life for people who have difficulties in walking. The innovation relates to a removable adaptive wheel, which is intended to expand the scope of the otherwise very limited wheelchair. This is formed by a unit of a front wheel, frame segments, and at least one wheelchair-mounted receiving element so that when attaching the front wheel, the wheelchair front castor is lifted off the ground and a wheelchair tricycle is formed.
Key Drivers of Global Adaptive Wheel Market:
- Easy availability of commodity materials coupled with the resistance to corrosion is likely to provide significant opportunity for the adoption of adaptive wheels for wheelchair. This is likely to drive the adaptive wheel market across the globe.
- Stringent regulatory policies to promote efficient manufacturing of wheelchairs part have increased the demand for lightweight wheels over conventional wheels. Adaptive wheels are a highly popular choice over conventional wheels in wheelchairs and other assisted devices. Additionally, lightweight, better heat conductivity, and anti-corrosive properties further boost the adaptive wheel market across the globe.
- Rise in demand for adaptive wheels for wheelchairs in developed countries, coupled with increase in capital investment and research & development spending by key OEMs, particularly on wheelchairs boosts the market of adaptive wheel across the globe
- Manufacturers of adaptive wheels are focused on upgrading their product portfolio by introducing new products to consolidate their position in the industry across the globe. Thus, most key players in developed countries are investing in the development of adaptive wheels. This, in turn, is also likely to propel the adaptive wheel market across the globe.
Global Adaptive Wheel Market to Offer Significant Opportunities:
- Customized color, size, powder-coating, textures, engraving, and use of rhinestones are some of the trending opportunities for adaptive wheel manufacturers. Presently, customers are preferring to customize the wheels of their vehicle owing to increasing purchasing power. Most companies are also collaborating with leading tire manufacturers to test and perfect future wheel and rim design for next-generation wheel chairs. This are a few factors that offer lucrative opportunities for the adaptive wheel market across the globe.
- Advanced materials for manufacturing of adaptive wheels and new type of compositions in wheels are being extensively utilized in developed countries. This also offers opportunities for the adaptive wheel market across the globe.
Global Adaptive Wheel Market to Hamper Market:
- High acquisition cost of raw materials for high-performance wheels in adaptive wheels along with the drawbacks associated with the faulty sensor feedback generated owing to integration of aftermarket wheels is estimated to hamper the global adaptive wheel market across the globe.
- Rise in demand for adaptive wheels in developed countries but higher initial investment for manufacturing of adaptive wheels and trade tariff cost associate with adaptive wheels are projected to hamper the global adaptive market across the globe
Asia Pacific to Hold Significant Share of Global Adaptive Wheel Market:
- The automotive adaptive wheel market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. Expansion of the market in Asia Pacific can be attributed to the high rate of adoption of adaptive wheel in wheelchairs in countries such as China and India, which manufacture significantly high number of wheelchairs across the globe.
- Development of wheel structure and adoption of customized wheels by key OEMs cater to the demand for adaptive wheel in India; consequently, India contributes significantly to the automotive adaptive wheel market in Asia Pacific
Key Players Operating in Global Market:
The global adaptive wheel market is consulted with top manufacturers across the globe. A few key players operating in the global adaptive wheel market are:
- Ocelco Inc., LLC
- SoftWheel LTD.
- Invacare Corporation.
- Permobil AB.
- Pride Mobility Products Corp.
- GF HEALTH PRODUCTS, INC.
- Hoveround Corporation
- LEVO AG.
Global Adaptive Wheel Market: Research Scope
Global Adaptive Wheel Market, by Material
Global Adaptive Wheel Market, by Location
- Front Wheel
- Rear Wheel
Global Adaptive Wheel Market, by Application
Global Adaptive Wheel Market, by Sales Channel
Global Adaptive Wheel Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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