Stair Lift Market: By Rail Type (Platform Stair Lifts, Curved Stair Lifts, and Straight Stair Lifts), By Install Location (Residential Spaces, and Commercial Spaces), By Power Source (Direct Current (DC), and Alternating Current (AC)), By Application Type (Residential, Governments, Leisure &Entertainment, and Healthcare), and Geography  

Stair Lift Market size was valued at USD 810.3 million in 2022, growing at a 6.3% CAGR from 2023 to 2029. The stair lift is a mechanical device people use to go up and down stairs. It provides a rail along the stairs through which the person can move. It also provides a switch by which a person can operate and move. These type of stairlifts are planned for residential purposes, especially for physically disabled people who needs to move up and down the stairs. These stair lifts are more comfortable and easier to use.  Growing musculoskeletal problems such as Osteoarthritis, Knee Problems across worldwide increase the demand for stairlift products. Furthermore, WHO classifies osteoarthritis as one of the most disabling chronic diseases in developed regions. It is a degenerative joint disease associated especially among elderly peoples that affect joints, including the knees, hips, fingers, and low spine that have constantly been increasing throughout the forecasted period. As a result, the market for stair lift has a chance to expand due to the growing requirement for stair lift. Continuous improvement in these products with time creates opportunities for various key players to make investments that support market growth. The recent occurrences of global pandemic COVID 19 and government makes rules for self-isolation at their residence with particular stress on the elderly population.

Stair Lift Market Key Developments:

• In Dec 2021, Access BDD launched Dolphin Lifts which provides comfort and easy to maintenance