Press release
Forklift Battery Market Business Growth, Size and Comprehensive Research Study Forecast to 2028
The global Forklift Battery Market is expected to grow from US$ 4,816.54 million in 2021 and is projected to reach US$ 7,759.94 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.Technological innovations in forklift trucks such as quick battery charging may reduce the downtime of forklift trucks and can improve the overall operational efficiency at material handling and warehouses. Fast charging technology enables material handling centers to charge the battery at its desired level in short time so that forklift trucks can be reused immediately. Whereas the conventional battery charging requires 8 hours of run-time and additional 8 hours to cool before reuse. To avoid downtime, additional batteries must be purchased for each shift. Therefore, fast charging technology can help warehouses and material handling centers to save the spending on additional batteries and increase work efficiency by reducing downtime. Thus, the fast-charging feature is expected to propel the growth of the forklift battery market in the coming years.
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Analysis of the Top Market Players:
1. Accumulatorenwerke Hoppecke Carl Zoellner And Sohn Gmbh
2. Crown Equipment Corporation
3. ForeverPure Corporation
4. Exide Industries Limited
5. EnerSys
6. OneCharge
7. Saft Groupe SA
8. Storage Battery Systems, LLC
9. East Penn Manufacturing Company
10. Microtex Energy Private Limited
In this report, the market has been segmented on the basis of:
Type (Lithium ion, Lead-Acid, Others)
Application (Warehouses, Construction, Manufacturing, Retail and Wholesale Stores, Others), and Geography
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The forklift battery market is segmented on the bases of type, application, and geography. Based on type, the market is bifurcated into lithium ion, lead-acid, and others. The lead-acid segment represented a larger share of the overall market in 2020. In terms of application, the forklift battery market is segmented into warehouses, construction, manufacturing, retail and wholesale stores and other applications. In 2020, the manufacturing segment accounted for the substantial share of the market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific accounted for the significant share in the global market.
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