Industrial Personnel and Burden Carriers (Electric) Market to Surpass US$ 5 Bn by 2031; TMR Study

- Focus of businesses in manufacturing sector on workplace safety to spur adoption of electric personnel and burden carrier vehicles; demand for burden carriers to offer sizable revenue streams

- End-use industries leaning on operational efficiency in factories; substantive demand in Asia Pacific countries to underpin lucrative market opportunities 

ALBANY, N.Y., Jan. 19, 2022 /PRNewswire/ -- Electric industrial personnel and burden carriers are growing as prominent utility vehicles in industrial sector meant for enhancing the operational effectiveness. Growing adoption of these in various industries such as automotive, oil & gas, pharmaceuticals, retail, cement, semiconductor, and real estate has propelled workplace safety and optimal utilization of resources in factories. The valuation of the industrial personnel and burden carriers (electric) market to exceed US$ 5 Bn by 2031, finds an in-depth TMR study.

Advancements in electrically powered vehicles have led to expanding array of compact, powerful, and low-maintenance personnel and burden carriers. Automotive companies look to garner steady revenue gains from the launch of electric industrial personnel and burden carriers with increased towing capacity and smart features.

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Focus of businesses in the manufacturing sector on workplace safety on one hand and operational efficiency on other hand has propelled the demand for burden carriers for transporting heavy equipment and materials. The product type held the leading share of the industrial personnel and burden carriers (electric) market, notes the TMR study.

Key Findings of Industrial Personnel and Burden Carriers (Electric) Market Study

• Widespread Use in Transporting Personnel, Equipment, and Material Propel Sales: The growing trend of factory automation has spurred the demand for burden carriers in boosting the operational effectiveness of businesses. The adoption of electric carriers in transporting heavy loads and personnel has also been instrumental in increasing the workplace safety, and thus has boosted the industrial personnel and burden carriers (electric) market. These reduce final and work-in-process inventory damage and ensure routing flexibility in various manufacturing facilities.
• Trend of Vehicle Electrification to Open Profitable Opportunities: The past few years have witnessed the industrial sector for using electric vehicles. The electrification in the automotive industry has further added momentum to the trend, thereby extending avenue in the industrial personnel and burden carriers (electric) market. 
• Advanced Vehicle Features to Benefit Users: Automotive manufacturers in the industrial personnel and burden carriers (electric) market are leaning on constant products advancements. Thus, end-use industries are benefitting from carriers with new features that increase the manoeuvrability in constrained spaces and with high load capacities. 

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Industrial Personnel and Burden Carriers (Electric) Market: Key Drivers

• The electrification of transportation, supported by government initiatives to reduce the carbon footprint, is a key driver for the industrial personnel and burden carriers (electric) market. Stringent implementation of regulations on emission control in the industrial sector have extended the horizon for uptake of products, assert analysts in an in-depth market study.
• The optimal utilization of resources in factories is another factor underpinning the evolution of the industrial personnel and burden carriers (electric) market.

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Industrial Personnel and Burden Carriers (Electric) Market: Regional Dynamics

• Europe held a major share of the global industrial personnel and burden carriers (electric) market in 2020. Recent R&D on the automotive for electric industrial personnel and burden carriers have boosted the market outlook.
• The rapidly increasing trend of vehicle electrification in the industrial sector in European economies has expanded lucrative avenues.
• Especially in Germany, OEMs and aftermarket players have been gaining sales revenues.

Industrial Personnel and Burden Carriers (Electric) Market: Key Players

Some of the prominent companies in the industrial personnel and burden carriers (electric) market are Hyster-Yale Group, Inc., Toyota Material Handling, Taylor-Dunn Manufacturing, ProLift Toyota Material Handling, Polaris Industries, Pack Mule, Motrec International, Inc., Linde Material Handling, Brennan, and Bradshaw Electric Vehicles.

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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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