Wheelchair Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: October 2024
NAICS OD4098Revenue
$805.2m
Past 5-Year Growth
Profit
$XX.Xm
Employees
1,404
Businesses
29
Wages
$XXX.Xm
Wheelchair Manufacturing in the US industry analysis
Wheelchair manufacturers have enjoyed solid growth over the past five years, though revenue dipped in 2020 as the COVID-19 pandemic stifled foot traffic from the industry's largest base of consumers. Strong federal funding for healthcare has helped hospitals and consumers afford wheelchairs. The average age of the US population continues to rise as healthcare improves, expanding demand for wheelchairs. Exports have yet to rebound from COVID-era drops, but strong, reliable demand has kept the industry on an upward trajectory. Industry-wide revenue has been growing at a CAGR of 1.9% over the past five years and is expected to total $734.3 million in 2023, when revenue will jump an estimated 3.3%.Steady underlying demand gives wheelchair manufacturers the ability to better control pricing, a boon the industry has used to push profit upward. Despite significant expansions to workforces, manufacturers have been able to push down wage costs through automation. While many industries are contending with rising wages amid labor concerns, wheelchair manufacturers have actually cut the average employee's salary by nearly $10,000 in just five years. By prioritizing spending wages on workers who can innovate and develop new, in-demand products, manufacturing companies can lift their market share.Wheelchair manufacturers will enjoy amplified growth over the five years to 2028, propelled predominantly by rising demand from local and overseas markets. The population will continue to age, promoting wheelchair sales by expanding the primary user base. The depreciation of the US dollar will make domestic products comparatively cheaper and allow manufacturers to reclaim foreign demand through rebounding exports. This will also cut competition for US wheelchair companies by discouraging imports, though manufacturers will still need to remain at the forefront of innovation to continue driving demand. In all, industry revenue is forecast to grow at a CAGR of 4.1% over the five years through 2028 to total $897.9 million.
Trends and Insights
- Underlying demand is steady and expanding. More than 90.0% of wheelchair users are over 45, so aging of the population serves to grow the industry's main user base.
- Wheelchair parts are the top product. Because of the high price tag replacing an entire wheelchair carries, nearly half the industry’s revenue comes from sales of specialized parts that can keep older models operating smoothly.
- California has the most wheelchair manufacturers. The West provides access to key ports and a skilled workforce, making the region popular for the industry.
- Users have specialized needs. By providing unique functionalities in their products, wheelchair manufacturers can get an edge over their competitors.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $805.2m in 2024.
Trends and Insights
Revenue dipped through COVID-19
- Wheelchair manufacturers faced dampened sales in 2020 as wheelchair users put off replacing their current model for another year or two.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Underlying demand will remain strong
- Baby boomers will continue aging into the key demographic for the industry over the next five years, and the number of US residents aged 65 and older is the fastest-growing population segment.
Biggest companies in the Wheelchair Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Invacare Corporation | 71.2 | -2.7 | -3.8 | |
Sunrise Medical Limited | 24.2 | 1.0 | 4.0 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Manual wheelchairs, Powered wheelchairs and scooters and Parts and accessories. Manual wheelchairs is the largest segment of the Wheelchair Manufacturing in the US.
Trends and Insights
Manual wheelchairs provide flexibility
- These wheelchairs have a cross-brace frame for easy folding; built-in or removable armrests, swing-away footrests, a mid- to high-level back, two large wheels (usually 20 to 26 inches) with push rims, two small wheels in the front and push handles to enable nonoccupants to propel the chair.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Medical Device Manufacturing in the US
- Medical Instrument & Supply Manufacturing in the US
- Small Specialty Retail Stores in the US
- Physical Therapists in the US
International industries
- Medical Device Manufacturing in Canada
- Medical and Surgical Equipment Manufacturing in Australia
- Medical, Surgical and Scientific Equipment Manufacturing in New Zealand
- Electromedical & Imaging Equipment Manufacturing in the UK
- Medical Device Manufacturing in China
Table of Contents
About this industry
Industry definition
Operators in this industry manufacture manual and powered wheelchairs and powered scooters.
What's included in this industry?
Fabricating wheelchairs and wheelchair accessoriesResearch and developmentMarketing and distributionCompanies
Invacare CorporationSunrise Medical LimitedPurchase this report to view all 2 major companies in this industry.
Related Terms
END-USERTRADE SURPLUS510(K)Industry Code
NAICS 33911 - Wheelchair Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Underlying demand is steady and expanding. More than 90.0% of wheelchair users are over 45, so aging of the population serves to grow the industry's main user base.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Wheelchair parts are the top product. Because of the high price tag replacing an entire wheelchair carries, nearly half the industry’s revenue comes from sales of specialized...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
California has the most wheelchair manufacturers. The West provides access to key ports and a skilled workforce, making the region popular for the industry.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Users have specialized needs. By providing unique functionalities in their products, wheelchair manufacturers can get an edge over their competitors.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are no major companies. Tense competition through innovation keeps one company from dominating and keeps the industry fragmented.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Invacare Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Sunrise Medical Limited's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Invacare Corporation, and factors influencing its performance in the industry
- Description and key data for Sunrise Medical Limited, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Wheelchairs are heavily regulated. To protect end users, wheelchair manufacturers are legally required to offer warranties and replace defective products in a timely manner.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit is on the rise. By reducing wage expenditures through automation and pay cuts, wheelchair manufacturers have been able to expand their profit.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Wheelchair Manufacturing in the US industry in United States in 2024?
The market size of the Wheelchair Manufacturing in the US industry in United States is $805.2m in 2024.
How many businesses are there in the Wheelchair Manufacturing in the US industry in 2024?
There are 29 businesses in the Wheelchair Manufacturing in the US industry in United States, which has grown at a CAGR of 0.7 % between 2019 and 2024.
Has the Wheelchair Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Wheelchair Manufacturing in the US industry in United States has been growing at a CAGR of 0.8 % between 2019 and 2024.
What is the forecast growth of the Wheelchair Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Wheelchair Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Wheelchair Manufacturing in the US market in United States?
The biggest companies operating in the Wheelchair Manufacturing market in United States are Invacare Corporation and Sunrise Medical Limited
What does the Wheelchair Manufacturing in the US in United States include?
Fabricating wheelchairs and wheelchair accessories and Research and development are part of the Wheelchair Manufacturing in the US industry.
Which companies have the highest market share in the Wheelchair Manufacturing in the US in United States?
The company holding the most market share in United States is Invacare Corporation.
How competitive is the Wheelchair Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Wheelchair Manufacturing in the US industry in United States.
