LeapZipBlog: Steve Blade's blog: Wheelchair Accessible Vehicle Market: Refurbished More Favored than New

Wheelchair Accessible Vehicle Market: Refurbished More Favored than New

June 18, 2019 by Steve Blade  

The wheelchair accessible vehicle market study provides coherent market intelligence on the key revenue growth industry
opportunities drivers, challenges and industry trends that will eventually impact the growth trajectory of the global wheelchair accessible vehicle market. An overview of the global wheelchair accessible vehicle – in light of the current global automotive and healthcare industry scenario – reveals interesting facets relating to the adoption of wheelchair accessible vehicles across key regional markets in the globe. An assessment of some of the wheelchair accessible vehicle market indicators provides a detailed analysis derived from the global wheelchair accessible vehicle supply chain analysis, value chain analysis, and the business performance of wheelchair accessible vehicle across various regional wheelchair accessible vehicle markets. Moreover, vital insights on key companies engaged in the global wheelchair accessible vehicle market adds to the credibility of this extensive research intelligence report.

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 Fact.MR has compiled several intrinsic aspects associated with wheelchair accessible vehicle in a new intelligence report and has provided future projections of wheelchair accessible vehicle market along with growth prospects across various regions during the assessment period, 2018-2028. According to the intelligence report, the wheelchair accessible vehicle market is projected to expand at a steady pace and its growing demand is expected to translate into sales crossing US$ 6 billion by end of the period of assessment (2028).

With growing penetration of shared rise services, leading companies are aimed at diversifying their services, to cater to unmet needs of mobility challenged population. In this light, popular ridesharing services, Uber has lately unrolled its specialized services for differently abled, under its brands, UberAccess and UberAssist.  Developments as such are expected to bolster long term growth in wheelchair accessible vehicle market.

Wheelchair Accessible Vehicle Market: Consolidation and Cost – A Major Challenge

Consolidated wheelchair accessible vehicle market is expected to face a huge challenge with respect to supply and demand scenario, as the overall market represents only a handful of wheelchair accessible vehicles manufacturers. Wheelchair accessible vehicles manufacturing involves various stages along with involvement of trained personnel. That said, the cost of production of wheelchair accessible vehicles is relatively higher than standard vehicles, making them price intensive. This is expected to pose challenges with respect to adoption of wheelchair accessible vehicles, in turn restraining the growth of the wheelchair accessible vehicle market.

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Wheelchair Accessible Vehicle Market: Lucrativeness of North America to Yield Super Growth

According to United States Census Bureau, around 20 percent of people in the US (about 2.35 million) are suffering from disabilities. This has translated into increasing adoption of wheelchair accessible vehicles in the region, with a large concentration in United States, given its favorable transportation infrastructure. Moreover, increased government support coupled with presence of large players in the country have facilitated growth in demand and adoption of wheelchair accessible vehicles, making North America a lucrative market with respect to sales volume of wheelchair accessible vehicles during the period of forecast.

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