What is Global Vertical Platform Lifts (VPL) Market?
The Global Vertical Platform Lifts (VPL) Market is a comprehensive study of the various aspects of the vertical platform lift industry on a global scale. Vertical Platform Lifts, also known as VPLs, are mechanical devices that are used to provide easy and safe access to different levels of a building or structure, especially for people with mobility issues. These lifts are designed to overcome architectural barriers and are widely used in both residential and commercial settings. The global VPL market is a dynamic and rapidly evolving sector, with numerous manufacturers and service providers competing for market share. The market is driven by various factors such as the increasing aging population, the growing demand for accessibility solutions, and the advancements in technology. The market is also influenced by various regulatory policies and standards that govern the design, installation, and operation of VPLs. The global VPL market is segmented based on various parameters such as product type, application, and region. Each of these segments is analyzed in detail to provide a comprehensive understanding of the market.
Less Than or Equal to 0.15 m/s, Less Than or Equal to 0.3 m/s, Less Than or Equal to 0.5 m/s, Less Than or Equal to 0.75 m/s in the Global Vertical Platform Lifts (VPL) Market:
The Global Vertical Platform Lifts (VPL) Market is further segmented based on the speed of the lifts. The categories include lifts with speeds of Less Than or Equal to 0.15 m/s, Less Than or Equal to 0.3 m/s, Less Than or Equal to 0.5 m/s, and Less Than or Equal to 0.75 m/s. The speed of the lift is a crucial factor as it determines the efficiency and safety of the lift. Lifts with lower speeds are generally used in residential settings where the focus is more on safety rather than speed. On the other hand, lifts with higher speeds are used in commercial and public settings where efficiency and quick accessibility are of prime importance. The choice of speed also depends on the height of the building and the number of levels that the lift needs to service. The market for each of these speed categories is influenced by various factors such as the demand from different end-user segments, the regulatory standards, and the technological advancements in lift design and operation.
Residential, Commercial and Public in the Global Vertical Platform Lifts (VPL) Market:
The usage of Vertical Platform Lifts (VPL) in the Global Market is widespread and varies based on the setting. In residential settings, VPLs are used to provide easy access to different levels of a home, especially for individuals with mobility issues. They are also used in commercial settings such as offices, shopping malls, and other public buildings to ensure accessibility for all individuals. In public settings, VPLs are used in places like schools, hospitals, and government buildings to provide easy and safe access to all levels of the building. The demand for VPLs in these settings is driven by various factors such as the increasing aging population, the growing awareness about accessibility issues, and the stringent regulatory standards that mandate the provision of accessibility solutions in public buildings. The market for VPLs in these settings is also influenced by the advancements in technology that have led to the development of more efficient and user-friendly lifts.
Global Vertical Platform Lifts (VPL) Market Outlook:
The outlook for the Global Vertical Platform Lifts (VPL) Market is promising. In 2023, the market was valued at US$ 1852 million and is projected to reach US$ 2854.7 million by 2030, growing at a CAGR of 6.3% during the forecast period of 2024 to 2030. The market is dominated by major manufacturers such as ThyssenKrupp Access, Savaria, and Stannah, which collectively account for about 25% of the market. Europe is the largest market for VPLs, holding a share of more than 40%. The most common application of VPLs is in residential settings, which account for about 64% of the market. This growth is driven by various factors such as the increasing aging population, the growing demand for accessibility solutions, and the advancements in technology. The market is also influenced by various regulatory policies and standards that govern the design, installation, and operation of VPLs.
| Report Metric | Details |
| Report Name | Vertical Platform Lifts (VPL) Market |
| Accounted market size in 2023 | US$ 1852 million |
| Forecasted market size in 2030 | US$ 2854.7 million |
| CAGR | 6.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ThyssenKrupp Access, Savaria, Stannah, Cibes, Mitsubishi, Otis, Fujitec, Hitachi, Aritco, Orona, Bruno, Stiltz, RAM Manufacturing, Symmetry Elevator, Terry Lifts, Kone, Goodgo |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
