Aging baby boomer population and high prevalence of disabilities have fueled the growth of the wheelchair accessible vehicle converter market. In order to cater to the needs of wheelchair users, companies are innovating in advanced ramps and lifts to serve mobility needs of users.
On the other hand, companies in the wheelchair accessible vehicle converter market are entering into distributor agreement to strengthen supply chain in regions with high growth potential. For instance, leading provider of wheelchair accessible vehicles, Vantage Mobility International (VMI), announced its entry into a distributor agreement with specialist in accessible vehicles, Mobility Networks, to expand their accessible product line in Canada, Mexico, and the U.S.
Apart from vans, manufacturers operating in the wheelchair accessible vehicle converter market are focusing on developing products that cater to Sports Utility Vehicles (SUVs) and other classes of vehicles. As such, SUVs vehicle segment of the wheelchair accessible vehicle converter market is estimated to reach the production of ~4,400 units.
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Rear V/S Side Entry: Which is better?
Manufacturers in the wheelchair accessible vehicle converter market are increasing their production capabilities to create availability of both manual and power ramps and lifts. They are focusing on increasing awareness about the unique advantages of rear and side entry mobility solutions.
Side entry configuration segment of the wheelchair accessible vehicle converter market is projected for aggressive growth during the forecast period. The segment is anticipated to account for a market share of ~56% in 2027 from ~51% in 2018. Thus, manufacturers are gaining expertise to introduce improved side entry mobility solutions that are easily customizable and offer additional storage space to consumers.
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On the other hand, the rear entry configuration segment dominates the market for wheelchair accessible vehicle converters, in terms of volume, during the forecast period. Hence, manufacturers in the wheelchair accessible vehicle converter market are focusing on increasing the production of rear entry vehicles to cater to the unmet needs of additional ground clearance. Consumers are benefitting from the advantages of rear entry configuration, since it provides comfort for wheelchair offering more leg space.
Safety Attributes of OEM Seat Applications Enhance Business of Mobility Solution Providers
The wheelchair accessible vehicle converter market is moderately consolidated since seven leading players accounting for more than 50% of the market share. This indicates that emerging players have a smaller window to gain market dominance. Moreover, manufacturers are challenged with common consumer perception of high conversion price. Hence, companies in the market for wheelchair accessible vehicle converters are increasing awareness about the safety aspects that create value for money.
Companies are increasing R&D to develop OEM seat applications. For instance, BraunAbility – a U.S. manufacturer of wheelchair accessible mobility solutions, announced the launch of Turny Evo® OEM seat applications to provide additional safety and comfort for transportation solutions in and out of tall vehicles.
Manufacturers in the wheelchair accessible vehicle converter market are focusing on unmet needs of wheelchair users by increasing the availability of seats that offer power reclining and heated seats. Companies in the market for wheelchair accessible vehicle converters are also offering convenient financing options to consumers, since several disabled individuals belong to low-income groups.
Fundraising Platforms and Wheelchair Accessible SUVs Generate Incremental Opportunities
The wheelchair accessible vehicle converter market is witnessing a change with various drivers that are triggering market growth. For instance, several individuals that are physically disabled cannot afford out-of-pocket cost. Hence manufacturers in the market for wheelchair accessible vehicle converters are collaborating with fundraising platforms, such as Help Hope Live – a community-based fundraising platform that caters to the unmet medical expenses of individuals.
Strategic partnerships with fundraising platforms help companies in the wheelchair accessible vehicle converter market to bolster their credibility credentials. These help companies to boost sales of their products by overcoming the common perception that mobility solution products have high conversion costs.
As far as individuals with high income are concerned, companies are collaborating with car manufacturers to introduce handicap vehicles. For instance, VMI collaborated with Honda – a leading Japanese automotive company to launch wheelchair accessible SUV built on the Honda Pilot chassis.
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