Forklift Battery Market Growth Drivers, Developments, Technology And Future Trends 2031

𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏

The global forklift battery market was valued at US$ 22.3 Bn in 2021

It is estimated to grow at a CAGR of 6.8% from 2022 to 2031

The global forklift battery market is expected to reach US$ 43.1 Bn by the end of 2031

𝐆𝐞𝐭 𝐀 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 -https://www.transparencymarketresearch.com/forklift-battery-market.html

𝐀𝐧𝐚𝐥𝐲𝐬𝐭𝐬' 𝐕𝐢𝐞𝐰𝐩𝐨𝐢𝐧𝐭 𝐨𝐧 𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

Increase in preference for renewable and sustainable energy sources is driving the global forklift battery market. Industries are shifting toward electric forklifts instead of diesel-powered counterparts. Electric forklifts are widely used in manufacturing, warehousing, retail, e-commerce, and food and beverages sectors. Many companies aim to achieve Net Zero Carbon by 2050. This is further propelling the usage of electric forklifts. Electrification of forklift offers numerous benefits, including reduced fuel costs, fewer CO2 emissions, and less maintenance, regardless of the battery type. These benefits are expected to augment the global forklift battery market during the forecast period. Market players are investing in R&D of sodium-sulfur battery to develop long-duration grid-scale energy storage systems.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=44174

𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

Electric forklifts run on a battery that serves as a power source and a counterweight to stabilize the equipment. These batteries are rechargeable and help lower CO2 emissions. Forklift battery types include lithium-ion battery, lead-acid battery, and nickel-cadmium battery. Forklift battery capacity varies from 140 Ah to 1550 Ah. Majority of warehousing operations rely on two main battery types to power their forklifts: lithium-ion batteries and lead-acid batteries. Forklift battery voltage varies from 36 volts to 48 volts. The choice of electric forklift battery depends on operation need, budget, and future planning. Lead-acid battery is cheaper to buy upfront, but may well end up costing more over five years due its maintenance. On the other hand, forklift lithium battery is costlier, but potentially more economical in the long run.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=44174

𝐇𝐢𝐠𝐡 𝐃𝐮𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐑𝐞𝐥𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐋𝐞𝐚𝐝-𝐚𝐜𝐢𝐝 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭

Based on type, the global forklift battery market has been classified into lithium-ion battery, lead-acid battery, nickel-cadmium battery, and others. The lead-acid battery segment held major share of 62.3% of the global market in 2021. It is estimated to dominate the market during the forecast period, as lead-acid batteries are mature, durable, reliable, and well-understood source of energy. The self-discharge of lead-acid batteries is among the lowest of rechargeable battery systems.

The lithium-ion battery segment is also expected to grow significantly during the forecast period. Lithium-ion forklift battery offers integrated advantages including long lifespan, high productivity, and low maintenance. It is cost effective and energy efficient. It also has a fast-charging time, requiring just two to three hours to fully charge with no cool down period. Recharge efficiency of lithium-ion forklift batteries is greater than 98%. This results in higher energy savings and mitigates the negative impact of overheating.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=44174

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.