openPR Logo
Press release

Forklift Battery Market Rising Trends, Growing Demand and Business Opportunities by 2026

04-12-2022 01:44 PM CET | Energy & Environment

Press release from: Allied Analytics LLP

Expansion of warehouses across the globe and resulting demand for forklift batteries in material movement applications is the key global forklift battery market trend observed in the recent years. Global Forklift Battery Market size was valued at $4.3 billion in 2018, and is projected to reach $7.4 billion by 2026, growing at a CAGR of 7.04% from 2019 to 2026.

Lead-acid batteries are the preferred source of energy to forklift trucks until lithium-ion batteries are introduced in the market. The first lithium-ion battery for forklift was introduced in 2015, and the market is started to transform thereafter. They offer several benefits that make them preferable choices among consumers such as low charging time, maintenance-free, and recyclability associated with them. Content in the lithium-ion battery is not toxic, unlike regular batteries, which means they are easy and safe to recycle. As a result, the adoption of lithium-ion batteries has substantially grown in the market thereby contributing to the global market growth.

Download Sample PDF@ https://www.alliedmarketresearch.com/request-sample/6329

Forklift batteries are categorized under industrial batteries that not only power forklift trucks but are also aimed to enhance their load-bearing capacity. Lithium-ion and lead-acid batteries are the two major types of forklift batteries. There are other variants available in each battery type, which include flat plate batteries, tubular plate batteries, high amp-hour batteries, waterless batteries, and maintenance-free batteries.

As per the Exide (major forklift battery manufacturers), steel ballasts is likely to be used in the lighter lithium-ion batteries to compensate weight factor, so as to offer better counterbalance. Therefore, the market is set to witness replacement of lead-acid batteries by lithium-ion batteries, however, this shift may take another 10-13 years as current forklift trucks are compatible with existing batteries. Therefore, lead-acid battery is still a dominant choice in the market for another 10 to 13 years, which anticipated to offer lucrative forklift battery market growth opportunities.

By type, the lead-acid battery segment accounted for the largest forklift battery market share in 2018 and is expected to remain dominant by the end of the forecast period. Lead-acid batteries are high in weight which offers to counterbalance the load thereby enhancing the load bearing capacity of forklift trucks. Since high load bearing capacity trucks are useful in material handling application, lead-acid batteries are highly favorable in material handling section as they help enhance the load lifting capacity of the trucks. However, lithium-ion batteries are expected to offer significant growth during the forecast period in response to the necessary modification being made by considering the nature of applications.

For Purchase Enquiry@ https://www.alliedmarketresearch.com/forklift-battery-market/purchase-options

By application, manufacturing emerged as the global leader among other segments in 2018 with around 30% market share. The industrial manufacturing sector is driven by the trend of process automation to attain mass production. So the need for material handling in manufacturing plants is growing significantly that boosts the adoption of forklift battery in this sector.

The major key players operating in the global forklift battery market include EXIDE INDUSTRIES LTD., EnerSys, East Penn Manufacturing Company, Hoppecke, Crown Equipment Corporation, SBS Storage Battery Systems, LLC, Navitas Systems, Saft, Microtex Energy Private Limited, and Southwest Battery Company.

Key Market Segments:
By Type
• Lithium-ion Battery
• Lead-Acid Battery
• Others

By Application
• Warehouses
• Manufacturing
• Construction
• Retail & Wholesale Stores
• Others

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research

About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Forklift Battery Market Rising Trends, Growing Demand and Business Opportunities by 2026 here

News-ID: 2601138 • Views:

More Releases from Allied Analytics LLP

Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
According to a new report published by Allied Market Research, the heat meters market size was valued at $1.6 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032. A heat meter is a device used to measure and quantify the amount of thermal energy (heat) transferred from a heat source to a system or consumer. It accurately measures
Heat Pump Market Set for Strong Growth Through 2032
Heat Pump Market Set for Strong Growth Through 2032
According to a new report published by Allied Market Research, the heat pump market size was valued at $71.2 billion in 2022, and is estimated to reach $201.5 billion by 2032, growing at a CAGR of 11.1% from 2023 to 2032. A heat pump is a versatile and efficient device that transfers heat from one location to another using a refrigeration cycle. It operates by absorbing heat from a low-temperature source
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
According to a new report published by Allied Market Research, the global energy efficient lighting market was valued at $46.2 billion in 2021 and is projected to reach $93.3 billion by 2030, growing at a robust CAGR of 8.1% from 2022 to 2030. This surge reflects a powerful global movement toward greener, smarter, and more cost-effective lighting technologies. Energy efficient lighting refers to lighting systems and products that use less electricity
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
According to a new report published by Allied Market Research, titled, "Fuel Cell Market," The fuel cell market size was valued at $3.6 billion in 2020, and is estimated to reach $32.0 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030. The fuel cell market has emerged as a transformative force in the global energy landscape, offering a clean, efficient, and sustainable alternative to conventional energy sources.

All 5 Releases


More Releases for Battery

Thin Film Micro Battery Market, By Rechargeability (Primary Battery, Secondary B …
The thin film micro battery market is expected to witness market growth at a rate of 30.9% in the forecast period of 2022 to 2029. Data Bridge Market Research report on thin film micro battery market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the demand for the Internet of Things (IoT)
Deep Cycle Gel Battery Market 2022 Analysis by Top Leading Players | Trojan Batt …
The Deep Cycle Gel Battery Market report offers qualitative and quantitative insights as well as a thorough examination of the market size and expansion rate of all potential market segments. The report has been put together using primary and secondary research methodologies, which offer an exact and detailed understanding of the Deep Cycle Gel Battery market. The Deep Cycle Gel Battery Market is projected to succeed at a CAGR of
Global Power Energy Storage Battery Market 2019 - Lithium Ion Battery,All-vanadi …
Power Energy Storage Battery Market The Global Power Energy Storage Battery Market 2019 Research Report incorporates a total and careful investigation of Power Energy Storage Battery industry covering diverse perspectives like market volume, piece of the overall industry, advertise techniques, Power Energy Storage Battery development patterns, assortment of uses, use volume, request and supply examination, creation limit and Power Energy Storage Battery industry cost structures amid Forecast period from
Space Battery Market analysis report- with Leading players, Types Nickel-based B …
Space Battery Market The Space Battery Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The report also analyzes the development proposals and the feasibility of new investments. The Space Battery Market report has been collated in order to provide guidance and direction to the companies and individuals interested in buying this
Global EV Battery Recycling Market : Nickel–Cadmium Battery, Nickel–Metal Hy …
The EV Battery Recycling Market Research Report consists of all the essential information in regards to the global market. This report presents an in-depth analysis of various industry factors, such as the market trends, dynamics, production, estimates, industry development drivers, size, share, investigation, supply, forecast trends, sales, industry demand, as well as several other factors. The Global EV Battery Recycling Market report has been generated leveraging a target amalgamation
Global Lead Acid UPS Battery Market 2017 : Sebang Global Battery, CSB Battery, H …
Global Lead Acid UPS Battery Market 2016-2017 A market study based on the " Lead Acid UPS Battery Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Lead Acid UPS Battery Market 2017’. The research report analyses the historical as well as present performance of the worldwide Lead Acid UPS Battery industry, and makes predictions on the future status of Lead Acid UPS Battery