Wheelchair Accessible Vehicle Converter Global Market Report 2024

The wheelchair accessible vehicle converter market size has grown strongly in recent years. It will grow from $7.84 billion in 2023 to $8.3 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to various factors such as legislative measures focusing on accessibility, increasing awareness of disabilities due to an aging population, rising recognition of disability-related needs, governmental financial support, and the emergence of mobility solutions providers. These elements collectively contributed to the expansion of wheelchair-accessible vehicle conversion services.

The wheelchair accessible vehicle converter market size is expected to see strong growth in the next few years. It will grow to $10.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The projected growth in the forecast period is anticipated due to several factors, including increased collaborations with automakers, government incentives promoting accessibility, a rising demand for inclusive transportation solutions, the incorporation of sustainable practices, and an emphasis on user-friendly designs. Additionally, major trends are expected to encompass advancements in vehicle design and technology, adherence to regulatory compliance and standards, customization and personalization of vehicles, the increasing prevalence of electric and hybrid vehicles, integration of assistive technologies, and a focus on utilizing lightweight materials. These trends are poised to drive advancements and developments in the wheelchair-accessible vehicle conversion industry.

The growth of the wheelchair-accessible vehicle converter market is poised to be significantly propelled by the increasing number of the elderly population. Defined as individuals aged 60 and above, the elderly demographic benefits from wheelchair-accessible vehicle conversions, which enhance living comfort for those facing challenges in walking or climbing steps. According to data from America’s Health Rankings, more than 56 million adults aged 65 and above reside in the United States, constituting approximately 16.9% of the total population. With an anticipated increase to over 73.1 million older individuals by 2030, coinciding with the aging baby boomer generation, the rising elderly population becomes a driving force behind the growth of the wheelchair-accessible vehicle converter market.

The wheelchair-accessible vehicle converter market is expected to witness growth due to the increasing burden of neurological diseases. Encompassing a spectrum of conditions affecting the nervous system, neurological diseases can lead to various physical, cognitive, and functional impairments. Mobility challenges often arise as a consequence, restricting individuals' freedom of movement. Wheelchair-accessible vehicle converters play a crucial role in modifying standard vehicles, enabling easy and independent travel for individuals with neurological diseases. As an illustration, in the USA, nearly one million people were living with Parkinson's disease (PD) in 2022, and this number is projected to rise to 1.2 million by 2030. Consequently, the escalating burden of neurological diseases is expected to be a driving force propelling the wheelchair-accessible vehicle converter market.

Technological advancements are emerging as a prominent trend in the wheelchair-accessible vehicle converter market, with major companies adopting new technologies to maintain their market positions. A notable example is Vantage Mobility International, a US-based manufacturer of wheelchair-accessible vehicles, which introduced the first wheelchair-accessible minivan in May 2022. This innovative vehicle features a lowering floor conversion that enhances accessibility, fuel efficiency, and all-wheel drive capabilities. The inclusion of these special features provides wheelchair users with increased opportunities for driving in various locations, offering improved traction and control, particularly in adverse weather conditions.

Major players in the wheelchair-accessible vehicle converter market are strategically focusing on product launches to meet customer demands. BraunAbility, an American manufacturer of wheelchair-accessible vans and lifts, exemplifies this strategy with the launch of the Toyota Sienna Hybrid in May 2021. This wheelchair-accessible vehicle reinforces BraunAbility's commitment to offering diverse options in the market, enabling customers to find a suitable fit for their unique needs. The Toyota Sienna Hybrid retains customer-favorite accessibility features, enhancing its appeal to individuals seeking wheelchair-accessible transportation solutions.

In December 2022, Driverge Vehicle Innovations, a US-based builder of commercial wheelchair-accessible vans, shuttles, and transporters, made a strategic move by acquiring U.S. Upfitters for an undisclosed amount. This acquisition is anticipated to strengthen Driverge's national presence by adding new sales and operation locations in Illinois, Wisconsin, Maryland, and Colorado, supplementing its existing facilities in Ohio, Kansas, South Carolina, and California. Beyond geographical expansion, the acquisition broadens Driverge's product line to include commercial truck, SUV, sedan, and fleet vehicle conversions. U.S. Upfitters, a US-based business specializing in converting commercial vehicles into work-ready configurations, including wheelchair-accessible vehicles, contributes valuable expertise to Driverge's portfolio.

Major companies operating in the wheelchair accessible vehicle converter market report are Freedom Motors USA LLC, Brotherhood Automobility Limited, Vantage Mobility International, Rollx Vans LLC, AMS Vans Inc., Universal Motions, Growings Mobility Group Limited, General Motors Company, Sirius Automotive Ltd., Tripod Mobility, Autech Japan Inc., Allied Mobility, BraunAbility Inc., Toyota Motor Corporation, Vendor-managed inventory, Ricon Incorporated, Independent Mobility Solutions LLC, Nor Cal Vans LLC, Kirchhoff Mobility, ATConversions, Advanced Mobility, North American Mobility Solutions, Sidewinder Conversions & Mobility Ltd., Taxi & Bus Conversion Ltd., Parfit Limited, Mobility Ventures LLC, Fiat Doblò, Renault Kangoo, Kia Sedona, Ford Motor Company.

North America was the largest region in the wheelchair accessible vehicle converter market in 2023. The regions covered in the wheelchair accessible vehicle converter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wheelchair accessible vehicle converter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key entry points for wheelchair-accessible vehicle converters typically include side entry and rear entry. Side entry enables easier access for individuals with disabilities to enter the vehicle using a wheelchair through sliding doors. Various entry mechanisms such as ramps and lifts are utilized in modifying a range of vehicles, including sport utility vehicles, trucks, and others.

The wheelchair-accessible vehicle converter market research report is one of a series of new reports that provides wheelchair-accessible vehicle converter market statistics, including wheelchair-accessible vehicle converter industry global market size, regional shares, competitors with wheelchair-accessible vehicle converter market share, detailed wheelchair accessible vehicle converter market segments, market trends, and opportunities, and any further data you may need to thrive in the wheelchair accessible vehicle converter industry. This wheelchair-accessible vehicle converter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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