Forklift Battery Market 2022 Precise Outlook- EnerSys, Hitachi Chemical, GS Yuasa, Hoppecke, East Penn Manufacturing, Exide Technologies

Global Forklift Battery Market Size, Status and Forecast 2022-2028

The report discusses many vital industry facets that influence global Forklift Battery industry acutely which includes extensive study of competitive edge, latest technological advancements, region-wise industry environment, contemporary market and trends, top market contenders, and recent consumption tendency of the end user. The report also manages market size, market share, growth rate, revenue, and CAGR reported before along with its forecast estimation.

Forklift Battery Market size was valued at $4.76 Billion in 2020 and is expected to reach $8.66 Billion by 2028 growing at the CAGR of 7.67% from 2021 to 2028.

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The prominent players in the global Forklift Battery Market are: EnerSys, Hitachi Chemical, GS Yuasa, Hoppecke, East Penn Manufacturing, Exide Technologies, MIDAC, SYSTEMS SUNLIGHT S.A., ECOBAT Battery Technologies, Triathlon Batterien GmbH, Crown Battery, Amara Raja, Storage Battery Systems, LLC, BAE Batterien, Banner Batteries, Saft, Electrovaya, Flux Power Holdings, Inc, FAAM (Seri Industrial), Tianneng Battery Group, LEOCH, Zibo Torch Energy, Shandong Sacred Sun Power Sources Co., Camel Group, Western Electrical Co, Jiangsu Frey New Energy Co, Yingde Aokly Power Co, Yantai Goldentide Unikodi Battery Co, BSLBATT

Market Overview

The global forklift battery market is operating in the growth stage in its industry life cycle and considering its growth trajectory, it is expected to continue to grow in a similar phase during the forecast period. Increasing industrial output across the glove is the key factor that driving the global forklift battery market growth.

Lead-acid and lithium-ion batteries are the two major types of forklift batteries, but each type has its own benefits over others. Lead-acid battery offers an efficient combination of power and essential counterbalance that makes it highly preferable. On the other hand, lithium-ion batteries are new in material handling applications and offer several benefits over conventional lead-acid batteries. Some of them have low charging time, offer greater convenience during use, and are recyclable. Therefore, there is an increase in the demand for both the types of batteries. However, the high price range of lithium batteries restrains the growth of the overall market. 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.  

Asia-Pacific is the largest regional market in the global forklift battery market wherein countries such as China, Japan, India, South Korea, and Australia have emerged as one of the major contributors. High manufacturing base of food & beverages, pulp & paper, chemical, textile, refining & petroleum, and furniture industries along with rapid industrialization rate makes this region the largest consumer of forklift batteries. Europe, on the other hand, is the largest producer of forklift batteries and is expected to remain dominant during the forecast period. 

Regional Analysis 

Geographically, the global Forklift Battery market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and others), Asia-Pacific (China, India, Japan, and others), and LAMEA (Latin America, Middle East, and Africa).

Market Segments by Types
Lead-Acid Battery

Li-Ion Battery

Global Forklift Battery market: Applications
Warehouses

Factories

Distribution Centers

Others

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Research Methodology:

We follow a robust research methodology that includes data triangulation based on top-down, bottom-up approaches, and authentication of the estimated market numbers through primary research. The information used to estimate the Forklift Battery market size and forecast for various segments at the global, regional, and country level is derived from the most reliable published sources and through interviews with the correct stakeholders.

Key Takeaways from Forklift Battery Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Forklift Battery market - key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance - Forklift Battery market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to advance top-line revenues

─Appreciate the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a rapid outlook on the market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Forklift Battery

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