Stair Lift Installation in Residential Space Segment to Reach US$ 1,000 Mn by 2025

Stair Lift Installation in Residential Spaces Soaring

Due to the convenience they offer, stair lifts are now widely used in residential and commercial spaces/public spaces. In the residential domain, new stair lifts are being installed in most dwelling places. Stairlifts are also being increasingly installed in commercial settings such as hospitals, restaurants/hotels, and other public spaces.

According to a report from Persistence Market Research, the residential spaces segment in the global stair lifts market which was US$ 631.5 Mn in 2017, is predicted to reach a market valuation of over US$ 1,000 Mn by the end of 2025. With the rising popularity of stair lifts in commercial buildings, the commercial spaces segment is expected to witness a CAGR of 6.4% during the forecast period 2017-2025.

The report segments the stair lifts market on the basis of rail type, install location, power source, and region.

Rail Type

Location

  • Residential Spaces
  • Commercial Spaces

Power Source

  • Alternating Current (AC)
  • Direct Current (DC)

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

The key findings of the report are as follows –

  • Stair lift installation in residential spaces has increased over that in commercial spaces as stairlifts are a preferred option for home accessibility among older people.
  • The stair lifts market is expected to grow even further with the growing incidence of medical issues osteoporosis, arthritis and fractures in vertebrae among the elderly.
  • Helped by numerous government and non-government organizations, several public places are expected to experience an increase in the installation of stair lifts in the coming years.
  • Due to the high equipment and installation costs associated with stair lifts, the residential spaces segment might face a restriction in revenue growth.
  • Commercial use of stair lifts may not be affected, as projects pertaining to public places typically come with a higher budget and factor in user friendly infrastructure.

A wide variety of stair lifts are now available with customized features to meet the customer application requirements. While buying curved or straight stair lifts in NYC, make sure to partner with an experienced dealer who can guide you in choosing the right option for your needs.

Lastest Update: February 12, 2021
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