Industrial Personnel and Burden Carrier Market Driven by Industrialization in Asia Pacific, to Expand at 8.2% CAGR till 2021

The global industrial personnel and burden carrier (electric) market constitutes devices that provide benefits such as time saving, reduction of manpower, reduction of operational cost, reduction of wastage of available raw materials, and others. The global industrial personnel and burden carrier market is segmented on the basis of region, type, and load capacity. The global industrial personnel and burden carrier market stood at US$98.8 mn in 2014 and is predicted to reach US$174.6 mn by 2021. The global industrial personnel and burden carrier market is expected to expand at an 8.2% CAGR from 2015 to 2021 due to rapid industrialization in the Asia Pacific region. 

Worth US$66.4 mn, Sit Down Burden Carriers Account for 90% Market Share

By type, the global industrial personnel and burden carrier market is divided into personnel carriers and burden carriers. The personnel carrier type segment is divided into 2 to 5 seater, 5 to 10 seater, and 10 seater and above, whereas the burden carrier type is divided into the stand up and sit down segments. In 2014, the global industrial personnel and burden carrier market was dominated by the sit down burden carrier type, which held a 90% market share. The sit down burden carrier segment was valued at US$66.4 mn in 2014 and is predicted to maintain its dominant position during the forecast period. Increase in the need for reduction of wastage, reduction of manpower, and material handling will drive the sit down burden carrier market. The 2 to 5 seater personnel carrier type segment held the highest market share among personnel carriers in 2014, with a market value of US$22.7 mn. 

By load capacity, the less than 1,000 lbs sub-segment of the burden carrier segment dominated the market, accounting for the largest revenue share of US$52.9 mn in 2014. The 500 lbs to 2000 lbs sub-segment of the personnel carrier segment was valued at US$27.4 mn in 2014. The 500 lbs to 2000 lbs sub-segment of the personnel carrier segment accounted for 80% of the market in 2014 and is predicted to maintain its dominant position in the global market during the forecast period. 

North America to Drive Global Market, Valued at US$74.2 mn 

By geography, the global industrial personnel and burden carrier market is divided into regions such as North America, Europe, Asia Pacific, and Rest of the World. The North America market for industrial personnel and burden carriers was valued at US$74.2 mn in 2014 and is predicted to lead the global market throughout the aforementioned forecast period. High amount of disposable income and increasing industrialization will drive the North America industrial personnel and burden carrier market. The presence of leading companies such as Cushman Inc., Motrec Inc., and Columbia ParCar Corporation will also support the development of the industrial personnel and burden carrier market in the North America region. 

Some of the other leading companies in the global industrial personnel and burden carrier market are Bradshaw Electric Vehicles, Pack Mule, Club Car, Clark Material Handling Company Inc., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., and Taylor-Dunn Manufacturing Company. 

Browse Full Global Industrial Personnel and Burden Carrier Market Report With Complete TOC @ http://www.transparencymarketresearch.com/industrial-personnel-burden-carrier-electric-market.html

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