Wheelchair Accessible Vehicle Converter Market: Introduction
According to the report, the wheelchair accessible vehicle converter market is expected to expand at a CAGR of ~6% during the forecast period, owing to an increase in the demand for mobility among the population with disability. The U.S., Japan, the U.K., Germany, Canada, ANZ, France, and Italy are key countries in the wheelchair accessible vehicle converter market. The global wheelchair accessible vehicle converter market is mature in developed countries and is at the nascent stage in developing countries.
Expansion of Wheelchair Accessible Vehicle Converter Market
Government organizations in the U.S. and Canada, such as United States Department of Veterans Affairs, provide finance assistance to covert/purchase wheelchair accessible vehicles, thereby boosting the wheelchair accessible vehicle converter market. Governments in other countries, such as China, Japan, and a few in Europe, are encouraging mobility of people with disability by investing in wheelchair-friendly infrastructure and offering grants to buy wheelchair accessible vehicle. Increased demand for mobility among people with disability, globally, along with an increase in employment opportunities and education among them is driving the wheelchair accessible vehicle converter market.
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In terms of entry configuration, side entry and rear entry segments hold nearly equal share of the global market. Side entry vehicles are highly preferred in North America, and the high volume sales of wheelchair accessible vehicles in the region contributed to the significant share held by the side entry segment of the global market. Rear entry wheelchair accessible vehicles are cost-effective, as compared to side entry ones. Cost of conversion of the vehicle into a side entry accessible vehicle is higher, as the side modification is labor intensive. Rear entry wheelchair accessible vehicles are preferred in Europe, Latin America, Middle East & Africa, and most of Asia Pacific.
Based on mode of entry, the ramps segment held a leading share of the wheelchair accessible converter market. The ramps are available as manual, foldable, and power ramps, and are widely used due to its cost-effective nature and robust design, which enables easy mounting and alighting from the vehicle. The lift mode of entry requires installing the lift into the vehicle body to mount and dismount the wheelchair from the vehicle. Lifts allow more comfortable entry into the vehicle and in limited space. The lift is the new technological advancement in design of the wheelchair accessible vehicle and is anticipated to record high growth during the forecast period.
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Regional Analysis of Wheelchair Accessible Vehicle Converter Market
In terms of region, the wheelchair accessible vehicle converter market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held a prominent share of the global market in 2018. It is anticipated to lead the wheelchair accessible vehicle market during the forecast period, owing to the presence of a large number of wheelchair users in the North America region and active government support to promote mobility demands of people with disability.
Europe held a significant share of the wheelchair accessible vehicle converter market, owing to high demand in the U.K. and Germany. The wheelchair accessible converter market is matured in developed regions and countries such as North America, Europe, Japan, and ANZ.
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