North America And Europe Group 2 Powered Mobility Devices Market Growth and Leading Players Updates 2028

North America And Europe Group 2 Powered Mobility Devices Industry Overview

The North America and Europe group 2 powered mobility devices market size is expected to reach USD 13.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.3% from 2021 to 2028. The market is expected to rise owing to an increase in the incidence of disability and rising acceptance of powered mobility devices due to ease of driving and performing outdoor activities. Moreover, the established presence of several manufacturers and the rapidly growing geriatric population are expected to boost the demand for group 2 powered mobility devices.

U.S. group 2 powered mobility devices market size, by product type, 2018 - 2028 (USD Billion)

North America And Europe Group 2 Powered Mobility Devices Market Segmentation

Grand View Research has segmented the North America and Europe group 2 powered mobility devices market based on product, payment type, sales channel, and region:

Based on the Product Insights, the market is segmented into Powered Wheelchair and Power Operated Vehicle.

  • The powered wheelchair segment held the largest revenue share of 64.6% in 2020 and is also anticipated to register significant growth over the forecast period. Powered wheelchairs are typically built with high-quality braking systems, particularly to stop accidental rolling. Most electric wheelchairs offer the convenience of being controlled by a simple joystick. Growing awareness about these features is expected to drive the segment over the forecast period.
  • The major trend behind the growth of the power chair segment is increased consumer demand for more portable chairs with long-lasting batteries. Currently, a fully charged power chair battery lasts for at least 8 hours; however, many companies are focusing on innovations to increase battery life.

Based on the Payment Type Insights, the market is segmented into Reimbursement and Out-of-pocket.

  • The reimbursement segment held the maximum revenue share of 50.9% in 2020 and is likely to maintain its position during the forecast period. It is the compensation paid by a business for costs paid by a person from its own pocket like business expenses or insurance costs. The cost of the mobility devices can be reimbursed through various medical insurance like Medicare. The eligible user must meet all the criteria for receiving reimbursement.
  • Medicare covers the insurance of all powered wheelchairs, power-operated vehicles, and mobility devices. For claiming the insurance, the user must obtain an official prescription from a doctor, stating his/her condition and requirement of using a mobility device. Doctors examine the user face-to-face and review their need of getting a powered vehicle. Clinicians grant permission of purchasing a mobility device once the user meets all the necessary conditions for using a mobility device.

Based on the Sales Channel Insights, the market is segmented into Retail, E-commerce, Direct Sales, Veteran Affairs.

  • The retail segment dominated the North America and Europe group 2 powered mobility devices market and held the largest revenue share of 34.1% in 2020 as they have the advantage of personal touch and provide customization of products. Users can personally check the product and its features, and the personal touch between a customer and the product creates trust and assurance in the buying process. Many users of powered wheelchairs and other mobility devices are elderly who are not aware of online shopping. Hence, these groups of people are likely to prefer the traditional way of purchasing products, that is, via retail stores.
  • The direct sales segment held the second-largest revenue share in 2020 due to better marketing and demonstration of products or services directly to customers. Direct sales are in-person buying and selling of products; there is no third-party involvement in direct selling. The sales happen in a non-retail environment such as office, home, online, etc. The profit margin in direct selling is high as compared to other segments due to no intervention from middlemen.

North America And Europe Group 2 Powered Mobility Devices Regional Outlook

  • North America
  • Europe

Key Companies Profile & Market Share Insights

Key market players are adopting a variety of strategic activities, such as the signing of a new partnership agreement, collaborations, mergers & acquisitions, and geographic expansion, with the goal of strengthening their product portfolio and gaining a competitive advantage.

Some of the prominent players operating in the North America And Europe group 2 powered mobility devices market include,

  • 1800 Wheelchair.com
  • Wal-Mart Stores Inc.
  • Pride Mobility Products Corporation
  • Invacare Corporation
  • Golden technologies
  • National Seating & Mobility, Inc.
  • Numotion

Order a free sample PDF of the North America And Europe Group 2 Powered Mobility Devices Market Intelligence Study, published by Grand View Research.

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