Vertical Platform Lifts (VPLs) - often called a porch lifts or deck lifts - can be an economical way to provide wheelchair access to a home or commercial space such as a school, church or public building.
Based on QYResearch’s newest survey, global revenue for Vertical Platform Lifts (VPL) market was valued at $ 1.85 billion in 2019, and is expected to generate revenue of $ 1.71 billion by end of 2020 and $ 2.54 billion in 2026, growing at a CAGR of 6.81% between 2020 and 2026.
Global Vertical Platform Lifts (VPL) Market- Key Players
There are many key suppliers in the market, including ThyssenKrupp Access, Savaria, Stannah, Cibes, Mitsubishi, Otis, Fujitec, Hitachi, Aritco, Orona, Bruno, Stiltz, RAM Manufacturing, Symmetry Elevator, Terry Lifts, Kone, Goodgo, etc.. The top 3 players are Savaria, Stannah, ThyssenKrupp Access,. In 2020, the top 3 companies accounted for 25.90% production share.
Global Vertical Platform Lifts (VPL) Market: Segmental Analysis
Based on the speed, the Vertical Platform Lifts (VPL) market can be divided into ≤0.15 m/s; ≤0.3 m/s; ≤0.5 m/s; ≤ 0.75 m/s. In 2020, ≤0.15 m/s accounted for the largest share of 54.31% lobal Vertical Platform Lifts (VPL) market, this product segment is estimated to reach US$ 1.4 billion by 2026 from US$ 930.14 Million in 2020.
Global Vertical Platform Lifts (VPL) Market: Application Analysis
Vertical Platform Lifts (VPL) can be used in such places like Residential, Commercial and Public. Presently, Residential segment accounted for the highest market share of 64.63% in 2020 in terms of volume and will continue to keep the dominant place in the coming years.
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