Press release
Lithium-ion Forklift Battery Market : Revenue Share, Insights & Future Outlook
What Is Driving the Growth of the Global Lithium-ion Forklift Battery Market?The global market for Lithium-ion Forklift Battery was valued at US$ 446 million in 2024 and is projected to reach US$ 608 million by 2031, growing at a CAGR of 4.6% during the forecast period. Growth is driven by strong downstream demand from new energy vehicles and industrial applications. China's lithium-ion battery policies and standards, along with rapid adoption of electric forklifts in warehouses, factories, and distribution centers, are further accelerating market expansion.
How Is Regional Adoption Shaping the Lithium-ion Forklift Battery Industry?
In 2022, global sales of new energy vehicles reached 10.8 million units, a year-on-year increase of 61.6%. China accounted for 6.8 million units, capturing 63.6% of the global share, with a Q4 penetration rate of 27% compared to 15% globally, 19% in Europe, and 6% in North America. China's lithium-ion battery production reached 750 GWh in 2022, with energy storage batteries exceeding 100 GWh. This regional adoption strongly supports lithium-ion forklift battery demand, particularly in Asia-Pacific.
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Who Are the Key Players in the Lithium-ion Forklift Battery Market?
Major global manufacturers include Toyota Material Handling, JB BATTERY, EnerSys, Hitachi Chemical, GS Yuasa, Hoppecke, East Penn Manufacturing, Exide Technologies, MIDAC, SYSTEMS SUNLIGHT, ECOBAT Battery Technologies, Triathlon Batterien GmbH, Crown Battery, Amara Raja, Storage Battery Systems, LLC, BAE Batterien, and Banner Batteries.
• Toyota Material Handling specializes in advanced forklift battery systems for industrial applications.
• JB BATTERY focuses on high-performance lithium-ion batteries for warehouse and distribution applications.
• EnerSys delivers industrial batteries for energy storage and material handling.
• Hitachi Chemical provides innovative lithium-ion battery solutions for logistics and industrial vehicles.
• GS Yuasa manufactures long-life lithium-ion batteries for forklifts and EV applications.
• Hoppecke offers high-quality energy storage batteries for industrial and commercial use.
• East Penn Manufacturing specializes in lead and lithium-ion batteries for industrial applications.
• Exide Technologies develops advanced lithium-ion solutions for material handling fleets.
• MIDAC provides industrial batteries with a focus on efficiency and durability.
• SYSTEMS SUNLIGHT delivers customized lithium-ion batteries for warehouse automation.
• ECOBAT Battery Technologies focuses on sustainable industrial battery solutions.
• Triathlon Batterien GmbH produces high-performance lithium-ion forklift batteries.
• Crown Battery offers reliable and efficient battery systems for warehouses and factories.
• Amara Raja specializes in industrial energy storage and lithium-ion batteries.
• Storage Battery Systems, LLC provides custom lithium-ion battery solutions for logistics.
• BAE Batterien delivers advanced energy solutions for industrial vehicles.
• Banner Batteries manufactures industrial lithium-ion batteries for high-performance applications.
By Type:
• 24V
• 48V
• Others
By Application:
• Warehouses
• Factories
• Distribution Centers
• Others
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