Stair Lift Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

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The Stair Lift Manufacturing industry was hit hard during the recession as rising unemployment caused decreases in health coverage and disposable income. However, as the economy improved so did the industry's revenue. In the years to 2017, the number of Americans age 65 and older will increase steadily, providing a larger market base for industry players. Though the number of people with private healthcare is expected to increase, it may not grow quickly enough to have a positive effect on the industry. For these reasons, industry research firm IBISWorld has added a report on the Stair Lift Manufacturing industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

The industry was hit hard when consumer sentiment fell, as industry products are big-ticket items

Over the five years to 2012, revenue for the Stair Lift Manufacturing industry is expected to fall at an annualized rate of 2.4% to roughly $60.1 million. The industry suffered primarily from the effects of increased unemployment and decreased consumer disposable income brought on by the economic downturn in 2008 and 2009. During this period, industry operators endured a severe lack of demand for newly manufactured stair lifts as consumers passed on health coverage and became generally unwilling to spend on big-ticket items because of a lack of income. As a result, the industry endured losses of 4.3% and 12.8% during 2008 and 2009, respectively. “Nonetheless, the industry has been somewhat resurgent in recent years in light of a generally improving economy, the continued aging of the American population and increased funding for Medicare and Medicaid as well as an increase in private health insurance policies,” said IBISWorld industry analyst Tony Danova. These factors have led to steady growth in industry revenue after the economic downturn, including expected growth of 2.4% during 2012.

One of the fastest growing demographics in the United States is the senior population, adults aged 65 and older. This growth is due to the Baby Boomer population, those citizens born between 1946 and 1964. Over the five years to 2012, the number of people who fall under this age bracket has grown at an annualized rate of 2.4%. With a growing population of seniors, the level of health insurance coverage has grown over the past five years as well. Many of these citizens are candidates for Medicare and Medicaid programs, and, as a result, funding for such programs has grown roughly 5.5% per year on average over the past five years as well. According to Danova, with a greater influx of the population in a key downstream market and more widespread coverage, demand for stair lifts has trended upward steadily since the recession and this growth should continue into the next five years. Over the next five years, the industry should be lifted up toward steady growth. With more widespread health insurance coverage and a greater population level in a key downstream market, industry operators should benefit significantly. This boost in demand will give way for opportunities for more firms to enter the industry. Over the five years to 2017, IBISWorld expects the number of industry firms to also grow in line with revenue.

The Stair Lift Manufacturing industry has a moderate level of market share concentration. Collectively, the top four industry manufacturers make up nearly 60.0% of industry revenue in 2012. Over the past five years, industry concentration has increased as top firms expand domestic operations and foreign-based operators expand to the United States. The rest of the industry is fragmented and comprised of small and regional operators that serve local markets. For more information, visit IBISWorld’s Stair Lift Manufacturing in the US industry report page.

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IBISWorld industry Report Key Topics

This industry comprises establishments that manufacture stair lifts (i.e. chair lifts) and their associated parts for use in commercial and residential buildings.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
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