Global Forklift Battery Market Overview:
In the forklift battery industry, there are two choices either an old-school lead-acid battery or industry newbie Lithium-Ion (Li-Ion). Both have their own kinds of systems, charging requirements, setups, and price tags. Lead acid forklift batteries have two main purposes. They deliver a power source and act as a counterweight to a lift truck. A usual lead acid battery is made up of a battery case, battery cells, and battery cables which come together to house a liquid electrolyte mixture of sulfuric acid and water. Li-Ion batteries are consist of an anode, cathode, separator, electrolyte, and positive and negative terminals.
As per latest study released by AMA Research, the Global Forklift Battery market is expected to see growth rate of 6.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Governmental Support for Battery Recycling
Market Growth Drivers:
Rising Demand for Electric Forklift Applications and Increasing Demand for VRLA Batteries
Challenges:
Concerns Regarding Replacement of Electric Forklifts with Fuel Cell Forklifts
Restraints:
High Cost Related to Forklift Battery
Opportunities:
Increasing Adoption of Automated Guided Vehicles
Competitive Landscape:
Leading key players of forklift battery market are focusing on strategic partnerships to improve their products and services along with focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Some of the key players profiled in the report are East Penn Manufacturing (United States), EnerSys (United States), Exide Technologies (United States), HOPPECKE Batteries (Germany), Saft (France), Triathlon Batteries Solutions, Inc. (United States), C&D Technologies Pvt. Ltd. (United States), GS Yuasa Corporation (Japan), Navitas Systems, LLC (United States) and BAE Batteries GmbH (Germany). Additionally, following companies can also be profiled that are part of our coverage like Crown Battery (United States) and Trojan Battery (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Forklift Battery market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Forklift Battery market.
Latest Market Insights:
In September 2021, BYD, a Chinese electric vehicle and battery manufacturer, unveiled a new generation of lithium-ion forklift batteries that offered longer range and faster charging times than previous models.
What Can be Explored with the Forklift Battery Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Forklift Battery Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Forklift Battery
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Forklift Battery market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Forklift Battery market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Forklift Battery, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Forklift Battery, Construction Industry, Governmental Bodies and Research Firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.