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Industrial Personnel and Burden Carriers (Electric) Market to Surpass Valuation of US$ 5 Bn by 2031: Transparency Market Research

Industrial Personnel and Burden Carriers (Electric) Market: Introduction

According to the report, the global industrial personnel and burden carriers (electric) market is projected to surpass US$ 5 Bn by 2031, expanding at a CAGR of ~4% during the forecast period. Rise in adoption of automated technologies and increase in spending on the development of automated machinery for production and manufacturing industries are boosting industrial automation across several industries, including automotive, manufacturing, logistics & transportation, oil & gas, and pharmaceutical. Automated machinery increases the safety of workers working in these industries. Additionally, the decline in human errors and accidents is likely to boost production rates. Autonomous industrial burden carriers can be loaded automatically and transport the cargo to a designated location without the need for human intervention. For instance, in October 2018, Navya and Charlatte Manutention created Charlatte Autonom to develop autonomous tow tractor solutions for industrial sites and airports.

Expansion of Industrial Personnel and Burden Carriers (Electric) Market

Transportation is a leading cause for rise in levels of pollution worldwide. Tailpipe emissions, such as carbon dioxide, nitrogen oxides, hydrocarbons, carbon monoxide, and sulfur dioxide, cause respiratory illnesses, heart conditions, and mental illness, which results in increased healthcare burden. Consequently, people and automobile manufacturers are adopting fuel-efficient and environment-friendly solutions. Automakers are adopting the vehicle electrification strategy to reduce their carbon footprint and comply with government norms, as it is a viable solution as compared to redesigning the entire I.C. engine vehicles, which is an expensive, complicated, and time-consuming process. Thus, rise in awareness about the environment and increase in oil prices are driving the global electric industrial personnel and burden carriers market.

In terms of product type, the burden carriers segment accounted for a notable share of the global industrial personnel and burden carriers (electric) market. However, the burden carriers segment is expected to gain market share by the end of the forecast period, owing to an increase in the demand for electric burden carrier vehicles. Electric burden carrier vehicles are suitable for every kind of industrial facility. These vehicles are equipped with a cargo bed that makes it possible to easily position equipment or other materials and to unload them rapidly and easily, making these vehicles perfectly suited to manufacturing and logistic activities, especially picking. This, in turn, is estimated to propel the burden carriers segment during the forecast period.

In terms of seating type, the seat down burden carrier vehicles segment dominated the global industrial personnel and burden carriers (electric) market, in terms of value, in 2020. However, the sit down burden carrier vehicles segment is anticipated to expand at a notable CAGR during the forecast period, owing to rise in preference toward comfortable seating arrangement.

Electrically powered vehicles (burden carrier or tow truck or personnel carrier) utilize a battery as their power source; consequently, once the battery is drastically low, it requires recharging. The current battery technologies used in electrically powered vehicles have a limited charge storage capacity, which hinders the use of electrically powered vehicles to shorter distances or certain assistive tasks. Charging of electric burden carrier batteries is a slow process, which accounts for long waiting times. Rapid charging technologies are available in the market; however, these technologies increase the temperature of battery packs, thus creating safety issues and requirement for costly heat management solutions and subsequently, restraining the industrial personnel and burden carriers (electric) market across the globe.

Regional Analysis of Industrial Personnel and Burden Carriers (Electric) Market

Based on region, the global industrial personnel and burden carriers (electric) market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounted for a major share of the global industrial personnel and burden carriers (electric) market. Europe has a major presence of developed countries that are home to advanced research and development facilities for industrial personnel and burden carrier electric vehicles, which, in turn, is likely to enhance the use of industrial personnel and burden carrier electric vehicles across the region. Germany dominated the industrial personnel and burden carriers (electric) market in Europe, owing to the presence of numerous OEMs and aftermarket players that are engaged in the production and supply of related components.

Moreover, the usage of electric industrial personnel and burden carriers has been increasing for the past few years, due to rise in need for such vehicles in order to save time and improve the efficiency of work in industries. This, in turn, is likely to propel the demand for industrial personnel and burden carriers (electric) market in Europe.

Prominent players operating in the global industrial personnel and burden carriers (electric) market include Alke, Bradshaw Electric Vehicles, Brennan, Club Car, Hyster-Yale Group, Inc., Linde Material Handling, Motrec International, Inc., Pack Mule, Polaris Industries, ProLift Toyota Material Handling, Taylor-Dunn Manufacturing Company, The Raymond Corporation, Toyota Material Handling Northern California, and Wolter Group LLC.

Global Industrial Personnel and Burden Carriers (Electric) Market: Segmentation

  • Industrial Personnel and Burden Carriers (Electric) Market, by Product Type
    • Burden Carriers
    • Personnel Carriers
    • Tow Tractors
  • Industrial Personnel and Burden Carriers (Electric) Market, by Seating Type
    • Personnel Carrier
      • 2 to 5 Seater
      • 5 to 10 Seater
      • 10 Seater & Above
    • Burden Carrier
      • Stand Up
      • Sit Down
  • Industrial Personnel and Burden Carriers (Electric) Market, by Load Capacity
    • Personnel Carrier
      • 500 lbs to 2,000 lbs
      • 2,000 lbs to 5,000 lbs
      • 5,000 lbs & Above
    • Burden Carrier
      • Less than 1,000 lbs
      • 1,000 lbs to 5,000 lbs
      • 5,000 lbs to 10,000 lbs
      • 10,000 lbs & Above
  • Industrial Personnel and Burden Carriers (Electric) Market, by End-use Industry
    • Manufacturing
    • Mining
    • Oil & Gas
    • Others
  • Industrial Personnel and Burden Carriers (Electric) Market, by Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Latin America

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