Forklift Battery Market to Reach USD 4.60 billion by 2030 - Mordor Intelligence

Introduction: The Forklift Battery Market size is estimated at USD 3.5 billion in 2025, and is expected to reach USD 4.60 billion by 2030, at a CAGR of 5.57% during the forecast period (2025-2030)., reflecting robust growth. This steady rise is underpinned by accelerated warehouse automation, increasing adoption of electric forklifts, and a shift away from traditional lead-acid systems toward more efficient battery technologies.

Over the forecast period, demand for cleaner, faster-charging, and longer-life battery solutions will drive broader adoption. The forklift battery market size is being reshaped by operational efficiency demands, cost pressures, and environmental regulations. This press release offers a clear breakdown of the forklift battery market analysis, highlights key trends, outlines segmentation, and profiles major players.

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Key Market Trends

Shift from Lead-Acid to Lithium-Ion: One of the strongest shifts in the forklift battery market is ongoing replacement of classic lead-acid batteries by lithium-ion systems. Lithium-ion batteries offer faster charging times, longer cycle life, reduced maintenance, and no acid spills. Many operators see real operational payback by reducing downtime and backup battery systems.

Demand Driven by Warehouse Automation: As more fulfillment centers and distribution hubs adopt robotics, automated guided vehicles (AGVs), and multi-shift operations, demand for high-performance batteries grows. The forklift battery market trends show that integration with battery management systems (BMS) and smart charging infrastructure is becoming a requirement rather than an optional add-on.

Battery as a Service and Leasing Models: To ease up-front capital demands, more battery suppliers and system integrators are offering as-a-service or leasing models. Under these schemes, end-users pay subscription or usage fees instead of purchasing outright this lowers adoption barriers and spreads the cost over time.

Regional Growth and Technology Adoption: Asia-Pacific is expected to account for a major share in the forklift battery market, owing to robust industrial and logistics growth in countries like China, India, and Southeast Asia. Adoption rates of advanced battery technologies there tend to outpace other regions. In developed markets, retrofit and replacement demand in existing fleets will contribute significant volume.

Focus on Safety, Recycling, and Lifecycle Costs: As battery chemistries evolve, emphasis on safety certifications, thermal management, and end-of-life recycling is rising. Buyers increasingly evaluate total cost of ownership, including energy efficiency, replacement frequency, and recycling or disposal costs.

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Market Segmentation

By Battery Type
-Lead-Acid
-Lithium-Ion
-Other Battery Types

By Application Type
-Warehouse
-Manufacturing
-Construction
-Retail & Wholesale Stores
-Other Applications

By Region / Geography
-Asia-Pacific
-North America
-Europe
-Rest of world

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Key Players in the Forklift Battery Market

Crown Equipment Corporation

East Penn Manufacturing Company

Enersys

Amara Raja Batteries Ltd.

Exide Industries Limited

Explore more insights on forklift battery market competitive landscape: https://www.mordorintelligence.com/industry-reports/forklift-battery-market/companies?utm_source=openpr

Conclusion

The forklift battery market is entering a phase of steady growth, underpinned by shifts in battery technology, increased automation in warehouses, and more flexible commercial models like battery leasing. The forklift battery market growth is being shaped not by one dominant factor but by multiple interacting forces cost, performance, regulation, and operational needs.

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Get More insights: https://www.mordorintelligence.com/industry-reports/forklift-trucks-market?utm_source=openpr

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Get More insights: https://www.mordorintelligence.com/industry-reports/autonomous-forklift-market?utm_source=openpr

Forklift Rental Market: The Forklift Rental Market Report is segmented by Load Capacity (Less than 3.5 Tons, 3.6 to 10 Tons, and Above 10 Tons), Rental Duration (Short-Term and Long-Term/Contract), Power Source (Electric, Internal Combustion, and Others), Truck Class (Class I - Electric Rider, Class II - Narrow-Aisle, and Others), End-use Industry (Warehousing and Logistics, and Other Industries), and Geography. The market forecasts are presented in terms of value (USD).

Get More insights: https://www.mordorintelligence.com/industry-reports/forklift-rental-market?utm_source=openpr

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