What is Handcycles?
A handcycle is a type of human-powered land vehicle which is operated by arms rather than the legs, as on a bicycle. The handcycle market has high growth prospects due to thousands of people, able-bodied and those with disabilities used to improves their cardiovascular diseases, increase upper-body strength and compete. According to the World Health Organization, 15% of the world’s population suffering from various types of disabilities. So, the future for handcycle looks promising. The major companies are adding more innovative techniques in Asia-Pacific countries as these countries are focused on the fastest-growing verticals for the para-disabled games and others.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Sunrise Medical (CA) LLC (United States), Stricker-Handbikes (United States), EPC Wheelchairs (United Kingdom), RGK Wheelchairs (United Kingdom), MMS Medical (United States), BATEC MOBILITY S.L. (Spain) and ICE (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Manual, Electric and Hybrid) , by application (Wheelchair Hand Bikes, Sports Hand Bikes and Others) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Handcycles market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Handcycles market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Sunrise Medical (CA) LLC (United States), Stricker-Handbikes (United States), EPC Wheelchairs (United Kingdom), RGK Wheelchairs (United Kingdom), MMS Medical (United States), BATEC MOBILITY S.L. (Spain) and ICE (United States).
In Handcycles market, it has been observed that most of the manufacturing companies are providing innovative arm-crank propulsion systems and actual synchronic hand-cycling devices. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Handcycles Market Dynamics:
Attributes | Details |
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Growth Drivers | - Growing Prevalence of Disabilities Patients
- Increasing Number of Para-Disabled Games
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Major Trends | - Increasing demand from Asia-pacific Region
- Value -Oriented Customers
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Restraints | - High Cost Associated with Handcycles
- Lack of Awareness among Customer
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Road Blocks / Challenges | - Fluctuation of Raw Material Prices
- Lack of Research and Development Activities for Handcycles
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Gaps & Opportunities | - Government Initiative and Programs for Disabled People
- Upsurge Demand for Technological Equipped Handcycles Such as Wheelchair Propulsion Technique.
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Key highlights of the Global Handcycles market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Handcycles market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Handcycles market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Handcycles Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Handcycles market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Handcycles market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Handcycles Manufacturers, Handcycles Suppliers, End-User of Different Segments of Handcycles, R&D Institutions and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.