Global Stairlifts Market: Residential Spaces to Witness the Fastest Growth During 2017 – 2025

In the global market, a wide range of stair lifts are available, each tailored to the needs of the customer and the application. However, these might be classified based on the rail or track profile. There is also a Stairlifts Market segmentation for stair lifts based on installation location, such as commercial and residential areas. Stair lifts are mostly installed in home and commercial/public spaces and are utilised for individual or personal purposes. The residential part entails the installation of modern stair lifts in all dwellings. The commercial section includes stair lifts installed in commercial venues such as hospitals, restaurants/hotels, and other public spaces.

The residential spaces category is estimated to have dominated the global Stairlifts Market in 2017, with a market worth of US$ 631.5 million, and is expected to reach a market valuation of over US$ 1,000 million by the end of 2025, according to the market analysis.

Given the increased popularity of stair lifts in commercial spaces, the commercial spaces segment, however weaker than the residential spaces segment, is likely to emerge as an appealing place for installing stair lifts. During the projection period, the commercial segment is expected to grow at a CAGR of 6.4 percent.

People who are older are more likely to use stair lifts in their homes.

It has been discovered that older persons prefer to have stair lifts installed in their homes. This has resulted in more stair lifts being installed in domestic settings than in commercial or public locations. Osteoporosis is a prevalent condition among the aged, characterised by the weakening of bones and a decrease in bone density, rendering the elderly more vulnerable to bone injury.

Patients frequently notice fractures in the spine's vertebrae, as well as the forearm and hip bones. More than 50 million persons in the United States have been diagnosed with arthritis. As a result, a considerable number of stair lifts have been installed in the houses of families with elderly members. With the rising number of people suffering from medical problems, the industry is likely to expand even higher.