Wheelchair Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Product Type
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Introduction
The wheelchair market is a vital segment of the global mobility aids industry, providing essential assistive devices to enhance independence and quality of life for individuals with mobility impairments. Wheelchairs, encompassing power, manual, and pediatric types, cater to diverse needs arising from disabilities, aging, or medical conditions such as spinal cord injuries, arthritis, and cerebral palsy. According to The Global Economics of Disability Report: 2024, approximately 1.58 billion people globally—22% of the world’s population—live with a disability, with 273 million in Canada, Europe, and the United States, and 756 million working-age individuals (25–64) affected worldwide, representing 22% of that demographic. The market is driven by an aging population, rising prevalence of mobility disorders, and technological advancements in wheelchair design, such as lightweight materials, smart navigation, and ergonomic features. Power wheelchairs, equipped with batteries and motors, dominate due to their ease of use, while manual wheelchairs remain popular for their affordability and portability. Pediatric wheelchairs address the unique needs of children with disabilities, emphasizing adjustability and lightweight construction. The industry faces challenges like high costs, limited accessibility in developing regions, and regulatory hurdles, but benefits from innovations like AI-integrated controls and sustainable materials. Key trends include the integration of IoT for health monitoring, customizable designs, and growing demand for active and sports wheelchairs, particularly in developed markets.
Market Size and Growth Forecast
The global wheelchair market is projected to reach USD 4.8–5.2 billion by 2025, with an estimated compound annual growth rate (CAGR) of 7%–9% through 2030. This growth is propelled by the increasing geriatric population, rising disability prevalence, and advancements in assistive technologies. The market is supported by healthcare infrastructure improvements, favorable reimbursement policies in developed regions, and growing awareness of mobility solutions in emerging economies.
Regional Analysis
North America leads the wheelchair market, with an estimated growth rate of 7.5%–9.5%. The United States dominates this region, driven by a high prevalence of disabilities (28.7% of adults, per CDC 2024 statistics), an aging population, and advanced healthcare systems supporting wheelchair adoption. Canada contributes through robust social support programs and accessibility initiatives. Europe follows with a growth rate of 7%–9%, led by Germany, France, and the UK, where universal healthcare systems and stringent accessibility regulations drive demand for advanced wheelchairs, particularly power and pediatric models. Asia Pacific is the fastest-growing region, with a growth rate of 8%–10%, fueled by China’s large population and improving healthcare infrastructure, Japan’s aging demographic (22% over 65, per 2024 Japan Times), and India’s rising disability rates from accidents and chronic conditions. South America, with a growth rate of 6%–8%, sees contributions from Brazil, where healthcare investments and urban accessibility improvements support market growth. The Middle East and Africa, with a growth rate of 5%–7%, are emerging markets, with South Africa and the UAE investing in mobility aids, though economic and infrastructural barriers limit broader adoption.
Type Analysis
Power Wheelchair: This segment, expected to grow at a CAGR of 8%–10%, dominates due to its ease of use and advanced features like joystick controls, AI navigation, and health monitoring. Power wheelchairs, which held a 56% market share in 2024, cater to users with severe mobility impairments, with trends focusing on lightweight batteries, foldable designs, and IoT integration for remote diagnostics.
Manual Wheelchair: Projected to grow at a CAGR of 6.5%–8.5%, manual wheelchairs accounted for over 61% of the market in 2022, driven by their affordability, portability, and low maintenance. Trends include ultra-lightweight materials like carbon fiber, ergonomic designs for active users, and power-assist add-ons to bridge the gap with electric models.
Pediatric Wheelchair: Expected to grow at a CAGR of 7%–9%, this segment addresses children with congenital or acquired disabilities, emphasizing adjustable frames and vibrant designs. Trends focus on lightweight construction, modular systems for growth adaptability, and integration with pediatric rehabilitation programs, particularly in North America and Europe.
Key Market Players
Invacare Corporation: A U.S.-based leader, Invacare specializes in power and manual wheelchairs, offering innovative solutions like the AVIVA FX power wheelchair for enhanced comfort and mobility.
Sunrise Medical: A Germany-based manufacturer, Sunrise Medical produces a wide range of wheelchairs, including pediatric and sports models, known for lightweight and customizable designs.
Meyra: A Germany-based firm, Meyra focuses on power and manual wheelchairs, emphasizing ergonomic features and accessibility for users with complex needs.
Drive Medical Limited: A U.S. company, Drive Medical supplies cost-effective manual and power wheelchairs, catering to homecare and institutional markets.
Ottobock: A Germany-based global player, Ottobock offers advanced power and pediatric wheelchairs, leveraging its expertise in prosthetics and mobility solutions.
Permobil: A Sweden-based manufacturer, Permobil specializes in high-tech power wheelchairs, integrating AI and IoT for personalized user experiences.
GF Health Products: A U.S. firm, GF Health provides manual and power wheelchairs for healthcare facilities, focusing on durability and affordability.
Porter’s Five Forces Analysis
●Threat of New Entrants: Moderate. The wheelchair market has significant barriers to entry, including high R&D costs, stringent regulatory approvals, and established brand loyalty among players like Invacare and Ottobock. However, innovative startups offering smart or low-cost solutions pose a moderate threat, particularly in emerging markets.
●Threat of Substitutes: Low to Moderate. Alternatives like mobility scooters, walkers, or exoskeletons exist, but wheelchairs remain the primary solution for severe mobility impairments due to their versatility and accessibility. Substitutes are less viable in pediatric or high-tech power wheelchair segments.
●Bargaining Power of Buyers: Moderate to High. Buyers, including healthcare providers and individual consumers, have leverage due to multiple suppliers and price sensitivity, especially in manual wheelchairs. However, specialized power wheelchairs with advanced features limit switching options in premium segments.
●Bargaining Power of Suppliers: Low to Moderate. Suppliers of raw materials like aluminum, batteries, and electronics hold limited leverage due to the availability of alternative sources. However, reliance on advanced components for power wheelchairs slightly increases supplier power.
●Competitive Rivalry: High. The market is highly competitive, with Invacare, Sunrise Medical, and Permobil competing on innovation, customization, and global distribution. Regional players and low-cost manufacturers in Asia intensify rivalry, particularly in manual wheelchairs, while technological advancements drive competition in power wheelchairs.
Market Opportunities and Challenges
Opportunities
●Aging Population: The global rise in the elderly population, projected to double from 12% to 22% by 2050 (WHO), drives demand for wheelchairs, particularly power and lightweight manual models, in North America, Europe, and Japan.
●Technological Advancements: Innovations like AI navigation, IoT health monitoring, and lightweight materials, as seen in Permobil’s SmartDrive PushTracker E2, enhance user experience and attract investment in power wheelchairs.
●Emerging Markets Growth: Rapid healthcare infrastructure development in India, China, and Brazil creates opportunities for affordable manual and pediatric wheelchairs, supported by government accessibility initiatives.
●Accessibility Initiatives: Global efforts to improve wheelchair access, such as United Airlines’ digital sizing tool launched in November 2024, boost demand for customized solutions in travel and public spaces.
●Rehabilitation Demand: Increasing focus on rehabilitation centers, which held a 35% application share in 2024, drives demand for power and pediatric wheelchairs in North America and Europe.
Challenges
●High Costs: The high cost of power wheelchairs, often exceeding USD 10,000, limits adoption in developing regions and among uninsured populations, despite long-term benefits.
●Regulatory Hurdles: Stringent FDA and CE regulations, as seen in Permobil’s 2018 recall, increase compliance costs and delay product launches, particularly for smart wheelchairs.
●Limited Accessibility: Inadequate infrastructure in South America and Africa, coupled with low awareness, restricts wheelchair adoption, with 75 million people lacking access globally, per Free Wheelchair Mission.
●Supply Chain Disruptions: Global supply chain issues, exacerbated by the COVID-19 pandemic, impacted production and distribution, as seen with Ottobock’s sales decline in 2020, and remain a risk.
●Competition from Alternatives: Mobility scooters and exoskeletons, though less prevalent, compete in specific applications, requiring wheelchairs to differentiate through innovation and affordability.
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Wheelchair Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Wheelchair by Region
8.2 Import of Wheelchair by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Wheelchair Market in North America (2020-2030)
9.1 Wheelchair Market Size
9.2 Wheelchair Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 United States
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Wheelchair Market in South America (2020-2030)
10.1 Wheelchair Market Size
10.2 Wheelchair Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Wheelchair Market in Asia & Pacific (2020-2030)
11.1 Wheelchair Market Size
11.2 Wheelchair Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 Southest Asia
11.5.6 Australia
Chapter 12 Historical and Forecast Wheelchair Market in Europe (2020-2030)
12.1 Wheelchair Market Size
12.2 Wheelchair Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 United Kingdom
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Wheelchair Market in MEA (2020-2030)
13.1 Wheelchair Market Size
13.2 Wheelchair Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 Gulf Cooperation Council Countries
13.5.5 Turkey
Chapter 14 Summary For Global Wheelchair Market (2020-2025)
14.1 Wheelchair Market Size
14.2 Wheelchair Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Wheelchair Market Forecast (2025-2030)
15.1 Wheelchair Market Size Forecast
15.2 Wheelchair Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
15.1 Invacare Corporation
15.1.1 Company Profile
15.1.2 Main Business and Wheelchair Information
15.1.3 SWOT Analysis of Invacare Corporation
15.1.4 Invacare Corporation Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Sunrise Medical
15.2.1 Company Profile
15.2.2 Main Business and Wheelchair Information
15.2.3 SWOT Analysis of Sunrise Medical
15.2.4 Sunrise Medical Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 Meyra
15.3.1 Company Profile
15.3.2 Main Business and Wheelchair Information
15.3.3 SWOT Analysis of Meyra
15.3.4 Meyra Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 Drive Medical Limited
15.4.1 Company Profile
15.4.2 Main Business and Wheelchair Information
15.4.3 SWOT Analysis of Drive Medical Limited
15.4.4 Drive Medical Limited Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 Ottobock
15.5.1 Company Profile
15.5.2 Main Business and Wheelchair Information
15.5.3 SWOT Analysis of Ottobock
15.5.4 Ottobock Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 Permobil
15.6.1 Company Profile
15.6.2 Main Business and Wheelchair Information
15.6.3 SWOT Analysis of Permobil
15.6.4 Permobil Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.7 GF Health Products
15.7.1 Company Profile
15.7.2 Main Business and Wheelchair Information
15.7.3 SWOT Analysis of GF Health Products
15.7.4 GF Health Products Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.8 Medline Industries Inc
15.8.1 Company Profile
15.8.2 Main Business and Wheelchair Information
15.8.3 SWOT Analysis of Medline Industries Inc
15.8.4 Medline Industries Inc Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.9 Sizewise Rentals LLC
15.9.1 Company Profile
15.9.2 Main Business and Wheelchair Information
15.9.3 SWOT Analysis of Sizewise Rentals LLC
15.9.4 Sizewise Rentals LLC Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
15.10 Pride Mobility Products Corp
15.10.1 Company Profile
15.10.2 Main Business and Wheelchair Information
15.10.3 SWOT Analysis of Pride Mobility Products Corp
15.10.4 Pride Mobility Products Corp Wheelchair Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Research Scope Of Wheelchair Report
Table Data Sources Of Wheelchair Report
Table Major Assumptions Of Wheelchair Report
Table Wheelchair Classification
Table Wheelchair Applications List
Table Drivers Of Wheelchair Market
Table Restraints Of Wheelchair Market
Table Opportunities Of Wheelchair Market
Table Threats Of Wheelchair Market
Table Raw Materials Suppliers List
Table Different Production Methods Of Wheelchair
Table Cost Structure Analysis Of Wheelchair
Table Key End Users List
Table Latest News Of Wheelchair Market
Table Merger And Acquisition List
Table Planned/Future Project Of Wheelchair Market
Table Policy Of Wheelchair Market
Table 2020-2030 Regional Export Of Wheelchair
Table 2020-2030 Regional Import Of Wheelchair
Table 2020-2030 Regional Trade Balance
Table 2020-2030 North America Wheelchair Market Size And Market Volume List
Table 2020-2030 North America Wheelchair Demand List By Application
Table 2020-2025 North America Wheelchair Key Players Sales List
Table 2020-2025 North America Wheelchair Key Players Market Share List
Table 2020-2030 North America Wheelchair Demand List By Type
Table 2020-2025 North America Wheelchair Price List By Type
Table 2020-2030 United States Wheelchair Market Size And Market Volume List
Table 2020-2030 United States Wheelchair Import & Export List
Table 2020-2030 Canada Wheelchair Market Size And Market Volume List
Table 2020-2030 Canada Wheelchair Import & Export List
Table 2020-2030 Mexico Wheelchair Market Size And Market Volume List
Table 2020-2030 Mexico Wheelchair Import & Export List
Table 2020-2030 South America Wheelchair Market Size And Market Volume List
Table 2020-2030 South America Wheelchair Demand List By Application
Table 2020-2025 South America Wheelchair Key Players Sales List
Table 2020-2025 South America Wheelchair Key Players Market Share List
Table 2020-2030 South America Wheelchair Demand List By Type
Table 2020-2025 South America Wheelchair Price List By Type
Table 2020-2030 Brazil Wheelchair Market Size And Market Volume List
Table 2020-2030 Brazil Wheelchair Import & Export List
Table 2020-2030 Argentina Wheelchair Market Size And Market Volume List
Table 2020-2030 Argentina Wheelchair Import & Export List
Table 2020-2030 Chile Wheelchair Market Size And Market Volume List
Table 2020-2030 Chile Wheelchair Import & Export List
Table 2020-2030 Peru Wheelchair Market Size And Market Volume List
Table 2020-2030 Peru Wheelchair Import & Export List
Table 2020-2030 Asia & Pacific Wheelchair Market Size And Market Volume List
Table 2020-2030 Asia & Pacific Wheelchair Demand List By Application
Table 2020-2025 Asia & Pacific Wheelchair Key Players Sales List
Table 2020-2025 Asia & Pacific Wheelchair Key Players Market Share List
Table 2020-2030 Asia & Pacific Wheelchair Demand List By Type
Table 2020-2025 Asia & Pacific Wheelchair Price List By Type
Table 2020-2030 China Wheelchair Market Size And Market Volume List
Table 2020-2030 China Wheelchair Import & Export List
Table 2020-2030 India Wheelchair Market Size And Market Volume List
Table 2020-2030 India Wheelchair Import & Export List
Table 2020-2030 Japan Wheelchair Market Size And Market Volume List
Table 2020-2030 Japan Wheelchair Import & Export List
Table 2020-2030 South Korea Wheelchair Market Size And Market Volume List
Table 2020-2030 South Korea Wheelchair Import & Export List
Table 2020-2030 Southeast Asia Wheelchair Market Size List
Table 2020-2030 Southeast Asia Wheelchair Market Volume List
Table 2020-2030 Southeast Asia Wheelchair Import List
Table 2020-2030 Southeast Asia Wheelchair Export List
Table 2020-2030 Australia Wheelchair Market Size And Market Volume List
Table 2020-2030 Australia Wheelchair Import & Export List
Table 2020-2030 Europe Wheelchair Market Size And Market Volume List
Table 2020-2030 Europe Wheelchair Demand List By Application
Table 2020-2025 Europe Wheelchair Key Players Sales List
Table 2020-2025 Europe Wheelchair Key Players Market Share List
Table 2020-2030 Europe Wheelchair Demand List By Type
Table 2020-2025 Europe Wheelchair Price List By Type
Table 2020-2030 Germany Wheelchair Market Size And Market Volume List
Table 2020-2030 Germany Wheelchair Import & Export List
Table 2020-2030 France Wheelchair Market Size And Market Volume List
Table 2020-2030 France Wheelchair Import & Export List
Table 2020-2030 United Kingdom Wheelchair Market Size And Market Volume List
Table 2020-2030 United Kingdom Wheelchair Import & Export List
Table 2020-2030 Italy Wheelchair Market Size And Market Volume List
Table 2020-2030 Italy Wheelchair Import & Export List
Table 2020-2030 Spain Wheelchair Market Size And Market Volume List
Table 2020-2030 Spain Wheelchair Import & Export List
Table 2020-2030 Belgium Wheelchair Market Size And Market Volume List
Table 2020-2030 Belgium Wheelchair Import & Export List
Table 2020-2030 Netherlands Wheelchair Market Size And Market Volume List
Table 2020-2030 Netherlands Wheelchair Import & Export List
Table 2020-2030 Austria Wheelchair Market Size And Market Volume List
Table 2020-2030 Austria Wheelchair Import & Export List
Table 2020-2030 Poland Wheelchair Market Size And Market Volume List
Table 2020-2030 Poland Wheelchair Import & Export List
Table 2020-2030 Russia Wheelchair Market Size And Market Volume List
Table 2020-2030 Russia Wheelchair Import & Export List
Table 2020-2030 Mea Wheelchair Market Size And Market Volume List
Table 2020-2030 Mea Wheelchair Demand List By Application
Table 2020-2025 Mea Wheelchair Key Players Sales List
Table 2020-2025 Mea Wheelchair Key Players Market Share List
Table 2020-2030 Mea Wheelchair Demand List By Type
Table 2020-2025 Mea Wheelchair Price List By Type
Table 2020-2030 Egypt Wheelchair Market Size And Market Volume List
Table 2020-2030 Egypt Wheelchair Import & Export List
Table 2020-2030 Israel Wheelchair Market Size And Market Volume List
Table 2020-2030 Israel Wheelchair Import & Export List
Table 2020-2030 South Africa Wheelchair Market Size And Market Volume List
Table 2020-2030 South Africa Wheelchair Import & Export List
Table 2020-2030 Gulf Cooperation Council Countries Wheelchair Market Size And Market Volume List
Table 2020-2030 Gulf Cooperation Council Countries Wheelchair Import & Export List
Table 2020-2030 Turkey Wheelchair Market Size And Market Volume List
Table 2020-2030 Turkey Wheelchair Import & Export List
Table 2020-2025 Global Wheelchair Market Size List By Region
Table 2020-2025 Global Wheelchair Market Size Share List By Region
Table 2020-2025 Global Wheelchair Market Volume List By Region
Table 2020-2025 Global Wheelchair Market Volume Share List By Region
Table 2020-2025 Global Wheelchair Demand List By Application
Table 2020-2025 Global Wheelchair Demand Market Share List By Application
Table 2020-2025 Global Wheelchair Key Vendors Sales List
Table 2020-2025 Global Wheelchair Key Vendors Sales Share List
Table 2020-2025 Global Wheelchair Key Vendors Revenue List
Table 2020-2025 Global Wheelchair Key Vendors Revenue Share List
Table 2020-2025 Global Wheelchair Demand List By Type
Table 2020-2025 Global Wheelchair Demand Market Share List By Type
Table 2020-2025 Regional Wheelchair Price List
Table 2025-2030 Global Wheelchair Market Size List By Region
Table 2025-2030 Global Wheelchair Market Size Share List By Region
Table 2025-2030 Global Wheelchair Market Volume List By Region
Table 2025-2030 Global Wheelchair Market Volume Share List By Region
Table 2025-2030 Global Wheelchair Demand List By Application
Table 2025-2030 Global Wheelchair Demand Market Share List By Application
Table 2025-2030 Global Wheelchair Key Vendors Sales List
Table 2025-2030 Global Wheelchair Key Vendors Sales Share List
Table 2025-2030 Global Wheelchair Key Vendors Revenue List
Table 2025-2030 Global Wheelchair Key Vendors Revenue Share List
Table 2025-2030 Global Wheelchair Demand List By Type
Table 2025-2030 Global Wheelchair Demand Market Share List By Type
Table 2025-2030 Wheelchair Regional Price List
Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Wheelchair Picture
Figure 2020-2030 Regional Trade Balance
Figure 2020-2030 North America Wheelchair Market Size And Cagr
Figure 2020-2030 North America Wheelchair Market Volume And Cagr
Figure 2020-2030 South America Wheelchair Market Size And Cagr
Figure 2020-2030 South America Wheelchair Market Volume And Cagr
Figure 2020-2030 Asia & Pacific Wheelchair Market Size And Cagr
Figure 2020-2030 Asia & Pacific Wheelchair Market Volume And Cagr
Figure 2020-2030 Europe Wheelchair Market Size And Cagr
Figure 2020-2030 Europe Wheelchair Market Volume And Cagr
Figure 2020-2030 Mea Wheelchair Market Size And Cagr
Figure 2020-2030 Mea Wheelchair Market Volume And Cagr
Figure 2020-2025 Global Wheelchair Market Volume And Growth Rate
Figure 2020-2025 Global Wheelchair Market Size And Growth Rate
Figure 2025-2030 Global Wheelchair Market Volume And Growth Rate
Figure 2025-2030 Global Wheelchair Market Size And Growth Rate
Research Methodology
- Market Estimated Methodology:
Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.
1)Top-down & Bottom-up Approach
Top-down approach uses a general market size figure and determines the percentage that the objective market represents.
Bottom-up approach size the objective market by collecting the sub-segment information.
2)Supply & Demand Approach
Supply approach is based on assessments of the size of each competitor supplying the objective market.
Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.
- Forecasting Methodology
- Numerous factors impacting the market trend are considered for forecast model:
- New technology and application in the future;
- New project planned/under contraction;
- Global and regional underlying economic growth;
- Threatens of substitute products;
- Industry expert opinion;
- Policy and Society implication.
- Analysis Tools
1)PEST Analysis
PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.
- Benefits of a PEST analysis:
- It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
- It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
- It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
- It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.
2)Porter’s Five Force Model Analysis
The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.
- Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
- Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
- Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
- Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
- Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
3)Value Chain Analysis
Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.
4)SWOT Analysis
SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.
- Strengths describe what the player excels at and separates it from the competition
- Weaknesses stop the player from performing at its optimum level.
- Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
- Threats refer to factors that have the potential to harm the player.
- Data Sources
Primary Sources | Secondary Sources |
---|---|
Face to face/Phone Interviews with market participants, such as: Manufactures; Distributors; End-users; Experts. Online Survey |
Government/International Organization Data: Annual Report/Presentation/Fact Book Internet Source Information Industry Association Data Free/Purchased Database Market Research Report Book/Journal/News |