Industrialization in Asia Pacific to Drive Industrial Personnel and Burden Carrier (Electric) Market to Us$174.6 Mn Globally by 2021

As per the new market report published by Transparency Market Research “Industrial Personnel and Burden Carrier (Electric) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” global industrial personnel and burden carrier (electric) market was valued at US$98.9 mn in 2014, growing at a CAGR of 8.2% from 2015 to 2021 to account for US$174.6 mn by 2021.

The global industrial personnel and burden carrier (electric) market is witnessing significant growth primarily due to the rapid industrialization in developing countries of Asia Pacific. This in turn is attracting various manufacturers of industrial personnel and burden carrier (electric) to invest in this market. In addition, increasing need for improved operational efficiency within factories and growing demand for electric vehicles worldwide are boosting the demand of industrial personnel and burden carrier (electric) market globally. Moreover, the industrial personnel and burden carrier (electric) provide other benefits such as reduction of man power, time savings, reduced operating cost and others, reduced wastage of raw materials and others. The industrial personnel and burden carrier (electric) market is categorized into three segments: by type, by load capacity and by region.
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By burden carrier product type, the sit down segment held the largest market share accounting for more than 90% of the overall market valued at USD 66.4 million in 2014. The sit down burden carrier segment is expected to dominate the market throughout the forecast period. The dominance of this segment is mainly due to the rising need for reduction of man power, reduction of wastage, materials handling and materials transport among others. By personnel carrier product type, 2 to 5seater segment held the largest market share. This segment accounted for USD 22.7 million in 2014.

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