Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Wheelchair Accessible Vehicle Converter Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This comprehensive analysis reveals the market's projected trajectory towards a robust valuation of $10.44 billion by 2028, at a consistent CAGR of 5.9%. The report underscores the significant factors that are catalyzing the market's expansion, including groundbreaking technological strides, heightened collaboration with automakers, and increasing elderly population.
Our research divulges how aging demographics are driving the demand for wheelchair-accessible transportation, with a particular focus on regions like North America, which dominated the market in 2023. The report includes detailed segments within the wheelchair accessible vehicle converter industry, with an in-depth look at emerging trends that are shaping the future of mobility. These include advancements in vehicle design and the integration of assistive technologies, catered to by various players in the industry.
Technological enhancements have emerged as a key element, with major companies utilizing transformative technologies to upgrade their offerings and cater to the diverse needs of consumers. Advances in areas such as electric and hybrid vehicles signify the industry's move towards sustainable and energy-efficient transportation solutions for individuals with mobility challenges.
The analysis provides a holistic view, bringing to light the strategic moves by leading players such as Freedom Motors USA LLC and BraunAbility, who are innovating and launching products to cater to the evolving needs of consumers seeking wheelchair-accessible vehicle conversion solutions. The report also explores the complex landscape of entry points for vehicle conversions, detailing the use of ramps and lifts for side and rear entry modifications.
Highlights Of The Wheelchair Accessible Vehicle Converter Market Report:
- The market is predicted to expand from its previous valuation of $7.84 billion in 2023 to an estimated $10.44 billion by 2028.
- Key drivers for growth include legislative measures for accessibility, an aging population, and the rising burden of neurological diseases.
- Technological advancements, such as the introduction of the first wheelchair-accessible minivan, are among the notable trends expected to propel market growth.
- Strategic acquisitions and expansions by major companies like Driverge Vehicle Innovations symbolize efforts to consolidate market presence and expand product lines.
- North America continues to lead the market, with the strongest presence in 2023.
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/6m7jpo
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