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Published Date: 2016-10-07Number of Pages: 231

Industrial Personnel and Burden Carriers (Electric) Market (Product Type - Burden Carriers, Personnel Carriers, and Tow Tractors; Industrial Burden Carrier Load Capacity - Less than 1000 lbs., 1000 to 5000 lbs., 5000 to 10,000 lbs., and 10,000 lbs. and above; Industrial Personnel Carrier Load Capacity - 500 lbs. to 2000 lbs., 2000 lbs. to 5000 lbs., and 5000 lbs. and above; Application - Manufacturing, Mining, Oil & Gas, Pharmaceuticals, Iron & Steel, Chemicals, and Food Processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Industrial Personnel and Burden Carriers (Electric) Market: Snapshot

The industrial personnel and burden carriers (electric) market is likely to grow at a significant pace during the forecast period. In today’s highly competitive business environment, operational efficiency has become a high priority for most companies so as to provide the best of products and services to their customers. The growing importance of, and therefore need for, operational efficiency in industries is set to motivate the growth of this market in the coming years. Rapid industrialization in several Asia Pacific countries and the rising demand for electric vehicles have also propelled the industrial personnel and burden carrier (electric) market.

In terms of revenue, the global industrial personnel and burden carriers (electric) market is slated to rise from a value of US$395.80 mn in 2015 to US$757.40 mn by 2024, augmenting at a 7.5% CAGR therein. By volume, the market is poised to register a 3.9% CAGR from 2016 to 2024.

Massive Demand for Electric Industrial Personnel and Burden Carriers in Manufacturing Sector

The global industrial personnel and burden carrier (electric) market can be divided into personnel carrier and burden carrier on the basis of type. The burden carrier segment dominated the market in 2015. The increasing application and use of burden carriers in industries due to the benefits associated with them is likely to result in the growth of the segment during the forecast period.

Electric industrial personnel and burden carriers find application in sectors such as manufacturing, mining, oil and gas, pharmaceuticals, iron and steel, chemicals, and food processing. The manufacturing sector is the leading revenue contributor to the global industrial personnel and burden carriers (electric) market. There is a massive demand for these carriers in the manufacturing sector to ease up production processes by efficiently handling various raw materials and personnel in factories. This has led to the rise in demand for electric industrial personnel and burden carriers.

industrial personnel burden carriers market

North America Leads Global Industrial Personnel and Burden Carriers Market by Revenue and Volume

North America is presently the most significant market for industrial personnel and burden carriers, primarily driven by an increase in the number of industries and warehouses. Moreover, the rising demand for electric vehicles, rapid development of industrial infrastructure, and an increase in operational efficiency contribute toward the growth of this market. Strong growth in North America is also attributed to heavy investments in industrial personnel and burden carrier manufacturing technology, considering that the region is the largest hub for automation and semiconductor manufacturing. As a result, the growing need for the transfer of heavy equipment and materials in and out of industries has been boosting the demand in North America.

Asia Pacific is one of the major contributors to the global industrial personnel and burden carrier (electric) market. The market in Asia Pacific has witnessed substantial growth due to the increasing demand for heavy load carrier electric vehicles for raw materials, equipment, and personnel transport within factories. In terms of industrialization and growth in major sectors, countries in Asia Pacific such as China, India, and Japan are expected to witness significant growth in the coming years. This in turn is expected to influence the demand for electric personnel and burden carriers utilized in industries for better efficiency and utilization of resources. Increasing investments by foreign manufacturers in the region, coupled with the growing interest of local players will also propel the market.

Some of the leading players in the global industrial personnel and burden carriers (electric) market are Columbia Par Car Corporation, Bradshaw Electric Vehicles, E-Z-GO, Pack Mule, and Motrec International, Inc.

Industrial Personnel and Burden Carriers (Electric) Market: Trends and Opportunities

Industrial personnel and burden carriers (electric) are primarily used in factories, manufacturing hubs, and warehouses to transport heavy equipment and materials. These carriers offer numerous advantages. Thus, usage of industrial personnel and burden carriers (electric) has increased in different industries such as cement, real estate, and retail. The industrial personnel and burden carrier (electric) market is primarily driven by the rapid industrialization in developing countries and the emerging markets of Asia Pacific. Additionally, higher need for improvement in operational efficiency in factories is positively impacting market growth. The sit down type of burden carrier (electric) segment is expected to expand significantly during the forecast period.

Factors such as industrial personnel and burden carrier help to save time for a given work provide safety and security along with cost-effectiveness, reduces product damage, and helps in optimum utilization of resources in industries. All of the above combined ensures operational efficiency in factories. In today’s business environment where the market has become extremely competitive, most companies are focusing on operational efficiency in their business in order to provide best of products and services to customers. Thus, the rising need for operational efficiency in industries and increasing usage of industrial personnel and burden carriers are set to motivate the growth of this market in the coming years. Moreover, during the last few years, the market for electric industrial personnel and burden carriers has witnessed an enhanced rise in application due to the increasing requirement of such vehicles in order to save time and improve the efficiency of work in industries. Countries in Asia Pacific such as Japan, China, Singapore, Indonesia, and Australia are also contributing to the growth of the global industrial personnel and burden carrier (electric) market. The major applications of these vehicles are in factories, warehouses, cement industry, real estate sector, retail sector, and others. Primarily, two types of electric industrial personnel and burden carriers are available: battery based electric vehicles (BEVs), and plug-in based electric vehicles (PEVs). Considering all these factors, the industrial personnel and burden carriers market is likely to grow at a significant during the forecast period.

Growth in industries such as automotive, coal, oil, textile, information technology, cement, and real estate is driving the industrial personnel and burden carrier (electric) market. These carriers are used to transport personnel, equipment, and materials in various industries. The Asia Pacific region is the fastest growing market for industrial personnel and burden carriers. Economic reforms and rapid industrialization in major Asia Pacific countries such as China, India, and Japan are influencing the growth of the market. The large population, abundance of resources, cheap labor costs, and affordability of raw materials in Asia Pacific are some of the crucial factors encouraging foreign investments in the industrial sector of the region.

With increasing industrialization and need for operational efficiency in industries across the globe, there is immense scope and opportunities for the industrial personnel and burden carriers (electric) market. There has been significant rise in application of industrial personnel and burden carriers in industries based in Asia Pacific. In the coming years, Asia Pacific is expected to be a crucial market for industrial personnel and burden carriers. India, China, and Japan have seen huge industrialization in recent times because of the availability of good natural and human resources. Cheap source of labor, availability of raw materials, good transportation network, and investor-friendly industrial policies are some of the vital factors encouraging global companies to set up industries in these countries of the Asia Pacific region. This in turn is expected to encourage the rise in application of industrial personnel and burden carriers in the emerging markets of Asia Pacific.

Industrial Personnel and Burden Carriers (Electric) Market: Scope of the Study

This market research study analyzes the global industrial personnel and burden carriers (electric) market and provides estimates in terms of revenue (USD Million) and volume in terms of (thousand Units) from 2015 to 2024. It emphasizes on the drivers and restraints responsible for the growth of the industry and examines their impact during the forecast period from 2016 to 2024. Moreover, it recognizes the important opportunities for the market expansion in the upcoming years.

The report offers company market share analysis of key industry participants. Major players have been profiled on the basis of company overview, financial overview, business strategies and key developments. Leading market players profiled in this report are Columbia Par Car Corporation (U.S.), Bradshaw Electric Vehicles (U.K.), E-Z-GO (U.S.), Pack Mule (U.S.), and Motrec International, Inc. (Canada) among others.

Industrial Burden Carrier Load Capacity

  • Less Than 1000 lbs.
  • 1000 to 5000 lbs.
  • 5000 to 10,000 lbs.
  • 10,000 lbs. and above

Industrial Personnel Carrier Load Capacity

  • 500 lbs. to 2000 lbs.
  • 2000 lbs. to 5000 lbs.
  • 5000 lbs. and above
  • Manufacturing.
  • Mining
  • Oil & Gas
  • Pharmaceuticals
  • Iron & Steel
  • Chemicals
  • Food Processing
  • Others


 
 
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