The market is primarily driven by increasing industrialization in developing countries of Asia Pacific. 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.
Albany, NY -- (SBWIRE) -- 10/20/2016 -- The global industrial personnel and burden carrier (electric) market was valued at USD 98.9 million in 2014, growing at a CAGR of 8.2% from 2015 to 2021. The global industrial personnel carrier (electric) market is segmented by types into 2 to 5 seater, 5 to 10 seater, 10 and above seater. In addition, the global burden carrier market (electric) is further segmented into stand up and sit-down. Reduction of man power, transport of raw materials and equipment within the factory, increasing need for operational efficiency within the manufacturing plants are the major drivers for the growth of this market globally.
By geography, the global industrial personnel and burden carriers (electric) market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). The demand for industrial personnel and burden carrier (electric) is growing globally owing to the Increasing need for improved operational efficiency within factories. In addition, rapid industrialization in developing countries of Asia Pacific is also boosting the market for industrial personnel and burden carrier. Further, increasing demand for electric vehicles worldwide are positively influencing the growth of the industrial personnel and burden carrier (electric) market.
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In 2014, North America was estimated to be the leading market for global industrial personnel and burden carrier (electric). The region is expected to dominate the market throughout the forecast period. The increasing applications of industrial personnel and burden carrier for the reduction of operating expenditure and saving time is also acting as a key driver for the growth of this market in the region. North America has been estimated to account for more than 70% of the global industrial personnel and burden carrier (electric) market. RoW is analyzed to be the fastest growing region owing to the increasing number of new manufacturers and also the growing industrial sector in the region.
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The global industrial personnel carrier (electric) market is categorized on the basis of load carrying capacity range which includes '500 lbs to 2000 lbs', '2000 lbs to 5000 lbs', and '5000 lbs and above'. The global industrial burden carrier (electric) market can be segmented on the basis of load carrying capacity range including 'less than 1000 lbs', '1000 lbs to 5000 lbs', '5000 lbs to 10,000 lbs' and '10,000 lbs and above'. The key players operating in this market include Columbia ParCar Corporation, Cushman Inc., Bradshaw Electric Vehicles, Club Car, E-Z-GO, Pack Mule, Taylor-Dunn Manufacturing Company, Motrec Inc., Clark Material Handling Company Inc., and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd among others.
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