Market Size of Vehicle for Disabled Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vehicles for Disabled Market Analysis
The Vehicle for disabled Market is anticipated to register a CAGR of about 10 %, during the forecast period (2020 - 2025).
- The major factors that will drive the market growth during the forecast period include increase in the population of disabled and aged people, road accidents which cause disabilities, and government initiatives to empower these people with employment and financial aids.
- The population of disabled people in the world is around 1 billion which is expected to go up during the forecast period, due to the increasing road accidents and other accidents.
- In India alone, in the year 2018, the number of road accidents reported were around 467,000 cases.
- Due to the Covid-19 situation, the economic activities have come to a standstill. Many people are expected to lose their jobs or receive less salary. This will affect the demand side of the automotive for some time during the forecast period. But this situation is expected to become normal very shortly after the situation comes to be under control.
