Global Wheelchair Accessible Vehicle Market: Overview

A wheelchair-accessible van refers to a vehicle that is altered by expanding the size of the vehicle interior and then fitting it with a means of entry for wheelchair, such as powered lift or wheelchair ramp. Medical tourism is likely to remain of the important growth factors for the global wheelchair accessible vehicle market over the timeframe of analysis, from 2020 to 2030. In addition, increased financial assistance from federal governments is likely to work in favor of the market.

There has been a tremendous rise in the number if road accidents, which has generated increased demand for wheelchair accessible vehicles. In accordance with the analysis of World Health Organization, road accidents comprise one of the leading causes of disabilities and fatalities across the globe. There have been increased research and development activities by market players to come up with new functionalities and designs, which is likely to trigger growth of the global wheelchair accessible vehicle market over the timeframe of analysis, from 2020 to 2030.

The global wheelchair accessible vehicle market has been segmented on the basis of six important parameters, which are make type, vehicle type, entry configuration, entry mechanism, end use, and region.

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Global Wheelchair Accessible Vehicle Market: Notable Developments

The global wheelchair accessible vehicle market is considered as a fairly competitive market and is marked with the presence of many leading market players. The companies in this market are forging mergers, partnerships, and collaborations so as to gain larger revenue and market share. The following development is expected to play an important role in the market:

  • In October 2017, US-based Vantage Mobility International made an acquisition of leading dealers of wheelchair vans, AMS Vans, Inc. The acquisition is made with an objective to offer wider access of mobility vehicles to common people.

Some of the prominent organizations in the global wheelchair accessible vehicle market comprise the below-mentioned:

  • Vantage Mobility International LLC
  • KIRCHHOFF Mobility GmbH & Co. KG
  • Vehicle Production Group LLC.
  • Gowrings Mobility Group Limited
  • The Braun Corporation
  • REV Group, Inc

Global Wheelchair Accessible Vehicle Market: Key Trends

The global wheelchair accessible vehicle market is characterized by the presence of the following restraints, drivers, and opportunities.

Increased Prevalence of Disabilities and Road Accidents to Fuel Growth of the Market

Medical transportation has played an important role in generating increased demand for use of wheelchair accessible vehicles. Besides, there has been a rise in the demand for personal use of this product. Increasing number of disable people are making use of product, which is likely to trigger development of the global wheelchair accessible vehicle market over the timeframe of analysis, from 2020 to 2030.

These vehicles come in different sizes, from full sized vans to small cars. Small wheelchair accessible vehicles have been in high demand due to several advantages, such as hassle-free maneuverability, running costs, and economic pricing. In addition, small wheelchair accessible vehicles are economical when it comes to overall cost of running and consumption of fuel.

On the other hand, price intensive nature and high production cost are estimated to impede the growth of the global wheelchair accessible vehicle market. This has led to the emergence of renting facilities, which make services of wheelchair accessible vehicle affordable to a larger base of public.

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Global Wheelchair Accessible Vehicle Market: Geographical Analysis

Driven by its high demand in the US, North America is estimated to emerge as one of the leading regions in the global wheelchair accessible vehicle market. According to the estimates of According to United States Census Bureau, nearly 20 % of the people are affected by some kind of disability or the other. This factor is likely to work in favor of the wheelchair accessible vehicle market in North America over the timeframe of forecast.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Wheelchair Accessible Vehicle Market