Vertical Platform Lift Segmentation
Application (Residential, Commercial)
The residential segment is expected to hold 54% share of the global vertical platform lift market during the forecast period. These elevators are available for use in the housing sector to provide accessibility and convenience, to enable people experiencing mobility difficulties at home to live independently. Further, with population growth, urbanization, and economic development the demand for new housing units rises, leading to increased construction activities. Additionally, factors such as favourable government policies, low interest rates, and demand for smart appliances backed by rising disposable income have boosted the growth of the segment.
Type (Enclosed Vertical Platform Lift, Open Vertical Platform Lift)
The enclosed vertical platform lift market is poised to gain the majority revenue share, owing to its sturdiness, safety, and secure transportation for individuals with mobility limitations. Further, they do not require any chair transfer. They opted for longer distances, all these factors cumulatively drive the segment’s growth.
Our in-depth analysis of the global vertical platform lift market includes the following segments:
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