Personal Mobility Devices Market Size, Share, Industry Trends and Forecast to 2030

1. What is the Market Size & CAGR of Personal Mobility Devices market in 2021?

The global personal mobility devices market had a market size of USD 7.52 billion in 2021 and is expected to grow at a CAGR of 5.8% during the forecast period.

2. COVID-19 Impact on the Personal Mobility Devices Market

The COVID-19 pandemic had a significant impact on the personal mobility devices market. Due to restrictions on movement and lockdowns, the market saw a temporary decline in sales. However, there was a surge in demand for personal mobility devices as people sought alternatives to public transportation.

3. Personal Mobility Devices Dynamics

The personal mobility devices market is driven by an aging population, increasing prevalence of disabilities, advancements in technology, and changing lifestyles. These factors are expected to propel the market growth in the coming years.

4. Segments and Related analysis

The personal mobility devices market can be segmented into wheelchairs, mobility scooters, walkers, and others. Wheelchairs accounted for the largest market share in 2021, followed by mobility scooters. The demand for these devices is expected to increase due to the rising aging population.

5. By Region Analysis

- North America: The North American region dominated the personal mobility devices market in 2021, driven by the presence of key market players and a growing aging population. - Europe: Europe is expected to witness significant growth in the market due to increasing healthcare expenditure and government initiatives. - Asia Pacific: The Asia Pacific region is projected to experience the highest growth rate in the market, attributed to the rising prevalence of disabilities and improving healthcare infrastructure. - Latin America: Latin America is anticipated to show steady growth in the market, supported by developments in the healthcare sector. - Middle East and Africa: The Middle East and Africa region are expected to witness moderate growth due to increasing awareness about mobility devices.

6. Key Market Players and Competitive Landscape

Key market players in the personal mobility devices market include Invacare Corporation, Pride Mobility Products Corp, Sunrise Medical, Drive Medical, and Permobil. These companies focus on product innovation, strategic collaborations, and geographic expansions to maintain their competitive edge in the market.

7. Recent happenings in the Personal Mobility Devices Market

- In January 2022, Invacare Corporation launched the TDX SP2 Power Wheelchair with LiNX Technology, offering enhanced performance and connectivity features. - In March 2022, Sunrise Medical acquired Magic Mobility, a manufacturer of all-terrain power wheelchairs, to expand its product portfolio. - In May 2022, Permobil introduced the M1 Mid-Wheel Drive Power Wheelchair with advanced seating options and driving controls.