Market Overview:
The global forklift battery market is expected to reach USD 1933.05 million by 2025 from USD 1335.97 million in 2018, at a CAGR of 5.1%. The growth of the market can be attributed to the increasing demand for electric forklifts and rising concerns over environmental pollution. Lead-acid batteries are expected to dominate the global forklift battery market in terms of revenue share during the forecast period. This segment is projected to grow at a CAGR of 4% from 2018 to 2025.
Product Definition:
A forklift battery is a type of lead-acid battery that is used in a forklift to provide power. Forklift batteries are typically large and heavy, and they require regular maintenance in order to keep them functioning properly.
Lead-Acid Battery:
Lead-acid battery is the most common type of battery used in forklifts. Lead-acid batteries are economical and have a high power to weight ratio. Lead-acid batteries are widely used as they do not require expensive maintenance or cooling systems like other types of batteries such as gel cell, lithium ion or nickel metal hydride which makes them suitable for usage in forklifts.
Li-Ion Battery:
A lithium-ion battery, commonly referred to as Li-Ion (Lithium Iron Oxide), is an electrochemical device used in portable devices and electric vehicles. It consists of three main components namely positive and negative electrode separated by an electrolyte. The most common usage of this technology is in a portable device such as digital cameras, MP3 players, laptops, etc.
Application Insights:
The warehouses segment is poised to witness significant growth over the forecast period. This growth can be attributed to the expansion of storage facilities and rising demand for efficient warehouse solutions. In addition, growing e-commerce activities coupled with increasing government initiatives to promote electronic transactions are likely to augment market growth over the forecast period.
Factories application segment accounted for a share of 19% in 2018 owing to rapidly expanding manufacturing base in developing countries such as China, India, Brazil and South Korea. Growing awareness regarding improved safety standards at work places along with increased focus on industrialization is expected fuel product demand from factories across developing countries such as China, India and Brazil over the next few years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region, with a CAGR of XX% from 2018 to 2025. The growth in this region is attributed to increasing manufacturing activities and rising investments in industrial infrastructure development by governments as well as private players. Furthermore, the growing e-commerce sector has led manufacturers/suppliers of industrial equipment & machinery etc., to establish their business operations in Asia Pacific countries such as China and India, thereby driving the demand for forklift batteries over the forecast period.
Growth Factors:
- Increasing demand for forklift batteries from the automotive sector on account of growing adoption of electric and hybrid vehicles.
- Proliferation of lithium-ion battery technology that offers high performance, durability, and reliability.
- Stringent emission norms by regulatory authorities across the globe that are promoting the use of electric and hybrid vehicles, thereby augmenting demand for forklift batteries.
- Growing investments in research and development activities by leading players to develop advanced forklift battery technologies.
Scope Of The Report
Report Attributes
Report Details
Report Title
Forklift Battery Market Research Report
By Type
Lead-Acid Battery, Li-Ion Battery, In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
By Application
Warehouses, Factories, Distribution Centers, Others, By application, warehouses is the largest segment, with market share of 38% in 2018.
By Companies
EnerSys, GS Yuasa, Hitachi Chemical, 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, Banner Batteries, Saft, Electrovaya, Flux Power Holdings, Inc, FAAM, Tianneng Battery Group, LEOCH, Zibo Torch Energy, Shandong Sacred Sun Power Sources Co, Camel Group, Western Electrical Co, BSLBATT
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Forklift Battery Market Report Segments:
The global Forklift Battery market is segmented on the basis of:
Types
Lead-Acid Battery, Li-Ion Battery, In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Warehouses, Factories, Distribution Centers, Others, By application, warehouses is the largest segment, with market share of 38% in 2018.
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- EnerSys
- GS Yuasa
- Hitachi Chemical
- 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
- Banner Batteries
- Saft
- Electrovaya
- Flux Power Holdings, Inc
- FAAM
- Tianneng Battery Group
- LEOCH
- Zibo Torch Energy
- Shandong Sacred Sun Power Sources Co
- Camel Group
- Western Electrical Co
- BSLBATT
Highlights of The Forklift Battery Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lead-Acid Battery
- Li-Ion Battery
- In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
- By Application:
- Warehouses
- Factories
- Distribution Centers
- Others
- By application, warehouses is the largest segment, with market share of 38% in 2018.
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Forklift Battery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A forklift battery is a type of electric battery that is used in forklifts. Forklift batteries are typically smaller and lighter than automotive batteries, which makes them easier to transport and store.
Some of the major companies in the forklift battery market are EnerSys, GS Yuasa, Hitachi Chemical, 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, Banner Batteries, Saft, Electrovaya, Flux Power Holdings, Inc, FAAM, Tianneng Battery Group, LEOCH, Zibo Torch Energy, Shandong Sacred Sun Power Sources Co, Camel Group, Western Electrical Co, BSLBATT.
The forklift battery market is expected to register a CAGR of 5.1%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Forklift Battery Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Forklift Battery Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Forklift Battery Market - Supply Chain
4.5. Global Forklift Battery Market Forecast
4.5.1. Forklift Battery Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Forklift Battery Market Size (000 Units) and Y-o-Y Growth
4.5.3. Forklift Battery Market Absolute $ Opportunity
5. Global Forklift Battery Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Forklift Battery Market Size and Volume Forecast by Type
5.3.1. Lead-Acid Battery
5.3.2. Li-Ion Battery
5.3.3. In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Forklift Battery Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Forklift Battery Market Size and Volume Forecast by Application
6.3.1. Warehouses
6.3.2. Factories
6.3.3. Distribution Centers
6.3.4. Others
6.3.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Forklift Battery Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Forklift Battery Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Forklift Battery Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Forklift Battery Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Forklift Battery Demand Share Forecast, 2019-2026
9. North America Forklift Battery Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Forklift Battery Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Forklift Battery Market Size and Volume Forecast by Application
9.4.1. Warehouses
9.4.2. Factories
9.4.3. Distribution Centers
9.4.4. Others
9.4.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Forklift Battery Market Size and Volume Forecast by Type
9.7.1. Lead-Acid Battery
9.7.2. Li-Ion Battery
9.7.3. In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Forklift Battery Demand Share Forecast, 2019-2026
10. Latin America Forklift Battery Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Forklift Battery Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Forklift Battery Market Size and Volume Forecast by Application
10.4.1. Warehouses
10.4.2. Factories
10.4.3. Distribution Centers
10.4.4. Others
10.4.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Forklift Battery Market Size and Volume Forecast by Type
10.7.1. Lead-Acid Battery
10.7.2. Li-Ion Battery
10.7.3. In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Forklift Battery Demand Share Forecast, 2019-2026
11. Europe Forklift Battery Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Forklift Battery Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Forklift Battery Market Size and Volume Forecast by Application
11.4.1. Warehouses
11.4.2. Factories
11.4.3. Distribution Centers
11.4.4. Others
11.4.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Forklift Battery Market Size and Volume Forecast by Type
11.7.1. Lead-Acid Battery
11.7.2. Li-Ion Battery
11.7.3. In 2018, lead-acid battery accounte for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Forklift Battery Demand Share, 2019-2026
12. Asia Pacific Forklift Battery Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Forklift Battery Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Forklift Battery Market Size and Volume Forecast by Application
12.4.1. Warehouses
12.4.2. Factories
12.4.3. Distribution Centers
12.4.4. Others
12.4.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Forklift Battery Market Size and Volume Forecast by Type
12.7.1. Lead-Acid Battery
12.7.2. Li-Ion Battery
12.7.3. In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Forklift Battery Demand Share, 2019-2026
13. Middle East & Africa Forklift Battery Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Forklift Battery Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Forklift Battery Market Size and Volume Forecast by Application
13.4.1. Warehouses
13.4.2. Factories
13.4.3. Distribution Centers
13.4.4. Others
13.4.5. By application, warehouses is the largest segment, with market share of 38% in 2018.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Forklift Battery Market Size and Volume Forecast by Type
13.7.1. Lead-Acid Battery
13.7.2. Li-Ion Battery
13.7.3. In 2018, lead-acid battery accounted for a major share of 88.68% the global forklift battery market, this product segment is poised to reach 1933.05 million US$ by 2025 from 1335.97 million US$ in 2018.
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Forklift Battery Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Forklift Battery Market: Market Share Analysis
14.2. Forklift Battery Distributors and Customers
14.3. Forklift Battery Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. EnerSys
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. GS Yuasa
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hitachi Chemical
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hoppecke
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. East Penn Manufacturing
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Exide Technologies
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. MIDAC
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. SYSTEMS SUNLIGHT
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ECOBAT Battery Technologies
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Triathlon Batterien GmbH
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Crown Battery
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Amara Raja
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Storage Battery Systems, LLC
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. BAE Batterien
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Banner Batteries
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Saft
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Electrovaya
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Flux Power Holdings, Inc
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. FAAM
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Tianneng Battery Group
14.4.20.1. Over
