Medical tourism continues to influence the adoption of wheelchair accessible vehicles coupled with financial assistance from federal governments.
Furthermore, demand for wheelchair accessible vehicles has also been impacted with growing road accidents worldwide.
According to World Health Organization (WHO) analysis, road accidents are one of the leading causes of mortalities and disabilities.
The wheelchair accessible vehicle market has also been influenced by new design features and developments incorporated by manufacturers in order to diversify their product offerings.
Tiny But Noteworthy: The Wheelchair Accessible Vehicle Market
The market for wheelchair-accessible vehicles is both tiny and large, ranging from compact automobiles to full-sized trucks.
With their many advantages related to affordability, operating costs, and mobility, tiny wheelchair accessible cars have gained more popularity over the past few years.
Smaller versions of wheelchair-accessible cars are reasonably priced and offer comparable levels of convenience and operational efficiency as their larger counterparts.
Also, due to their tiny size and reduced space requirements, small wheelchair accessible cars are convenient to manoeuvre and affordable in terms of fuel consumption and overall operating costs.
Small wheelchair accessible vehicles, including small minivans and passenger automobiles, are also becoming more and more popular for both personal use and medical transportation.
Market Concentration and Cost in the Wheelchair Accessible Vehicle Sector: A Significant Problem
Given that there are relatively few wheelchair accessible vehicle manufacturers operating on the global market, the consolidated wheelchair accessible vehicle industry is anticipated to encounter significant supply and demand challenges.
Manufacturing wheelchair accessible vehicles includes a number of steps and the involvement of qualified staff.
Yet, because they require more resources to produce than regular vehicles, wheelchair accessible vehicles are more expensive.
This is anticipated to present difficulties for the adoption of wheelchair accessible automobiles, which will in turn limit the market’s expansion.
Renting services will help shape demand in the wheelchair accessible vehicle market
The market for wheelchair accessible vehicles continues to be constrained by its high production costs and price-intensive nature.
To that aim, the development of “on-rent” wheelchair accessible vehicles has emerged as a fresh growth engine, positively impacting the industry in many nations throughout the world.
Renting wheelchair accessible vehicles with extra features such secure wheelchair tie downs, motorised ramps as a safety backup, and high fuel capacities to reduce stoppages has become popular among dealers in the wheelchair accessible vehicle industry.