Market Size of Electric Wheelchair Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 3.88 Billion |
| Market Size (2029) | USD 6.47 Billion |
| CAGR (2024 - 2029) | 10.76 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electric Wheelchairs Market Analysis
The Electric Wheelchair Market size is estimated at USD 3.88 billion in 2024, and is expected to reach USD 6.47 billion by 2029, growing at a CAGR of 10.76% during the forecast period (2024-2029).
The COVID-19 pandemic positively impacted the electric wheelchair market. Many hospitals and health institutes were flooded with people infected with the virus. Thus, the demand for electric wheelchairs increased in 2020. In 2020 electric chairs reached sales of almost 2 million units worldwide. This growth is anticipated to continue during the forecast period, primarily due to the increasing elderly population.
Over the long term, the increase in disabilities due to a rise in the elderly population and the prevalence of chronic diseases, encouraging hospitals and healthcare facilities to use electric wheelchairs to improve the welfare of patients and healthcare workers is anticipated to remain a major driving factor for the market studied. In addition, electric wheelchairs are used in-home care settings to transfer patients safely and comfortably from one place to another. Thus, the demand for electric wheelchairs is expected to increase in hospitals and elderly care homes, owing to the unprecedented increase in the geriatric population. For instance
- In 2021, one billion people were reported to live with some disability by the World Health Organisation, constituting 15% of the total population in the world.
Major key players are focusing on launching several new products to capture the growing market share provoked by the ever-increasing geriatric population. For instance,
- In January 2022, Permobil AB launched the flagship Progeo Noir 2.0 carbon fiber wheelchair in the United Kingdom.
- In August 2021, Pride Mobility Products Limited introduced the Jazzy EVO 613 2 electric chair, which is powered by a Li-ion battery and has a maximum speed of 5.1 miles per hour.
Thus the confluence of all the aforementioned factors is anticipated to drive growth in the global electric wheelchair market.
