Batteries that provide power supply to forklift trucks or are used in forklift trucks are known as forklift batteries. The emerging e-commerce sector in various countries across the globe is escalating the need for distribution centers, warehouses, and manufacturing facilities owing to the increasing capacity to store more materials and move these materials faster than ever before rising the demand for forklift fleets; which in turn propelling the forklift battery market.

In addition, factors such as the soaring disposable income of the consumer coupled with increasing high-speed internet penetration are accentuating the e-commerce sector growth which in turn has increased the global logistics industry as well. This has further elated the development of retail channels requiring efficient inventory management and warehouse solution to deliver products on time. Moreover, key players in the forklift fleets market are manufacturing new forklifts fleet by collaborating with technologically advanced players which are expected to accentuate the growth of the forklift battery market. For instance: In March 2022, Exide Industries Ltd. entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. Ltd (SVOLT) for the technology and manufacture of lithium-ion cells in India.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=34847

According to UnivDatos Market Insights (UMI)’ research report “Global Forklift Battery Market”, the market is expected to witness robust growth during the forecast period (2022-2028).

Based on the type, the forklift battery market is segmented into lithium-ion batteries, lead-acid batteries, and nickel-cadmium batteries. The lithium-ion batteries acquired dominating share in the global forklift battery market. The long shelf life of lithium-ion batteries, high productivity, and low-cost battery maintenance coupled with high recharge efficiency of 98% saves energy as well as decreases the effects of heating batteries. Further, various key players are launching lithium-ion forklift batteries with technologically advanced features and are also scaling their market growth. For instance: Mitsubishi Caterpillar Forklift America Inc. (MCFA), a leading manufacturer of forklifts under the Jungheinrich® brand, launched its Jungheinrich Lithium-ion battery technology in January 2020.

Based on the application, the forklift battery market is classified into warehouses, wholesale stores, construction sites, and the manufacturing industry. The manufacturing industry segment caters to a significant market share. It is mainly owing to the evolving manufacturing industry that contributes to the economic shifts with innovation, productivity, and trade more than growth and employment. Further, the surge in industrial activity and rising investments in the development of the manufacturing sector across the globe are expected to propel the demand for forklift batteries. For instance: In April 2022, Kion Group AG, a German logistics equipment provider, announced the expansion of its lithium-ion battery manufacturing facility located in Karlstein am Main, Germany, which was opened in 2022 following its collaboration with BMZ Holding GmbH.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=34847

Europe witnessed extensive growth

For a better understanding of the market adoption of the Forklift Battery industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the high focus on sustainability and reducing carbon emissions in the region is the prime factor driving the adoption of sustainable solutions in the region. Further, the increasing use of electric forklifts and other electric equipment in manufacturing facilities, attractive government subsidies on the use of electric equipment, and growing manufacturing activity across the region is expected to drive the shipments of forklift batteries.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in OneCharge, Electrovaya, Flux Power Holdings Inc., Exide Industries Ltd., Amara Raja Batteries Ltd., ENERSYS, Narada Power Source Co. Ltd, Trojan Battery Company LLC, Iberdrola, andGS Yuasa International Ltd.

“Global Forklift Battery Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing ensuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1.     By Type (Lithium-ion Batteries, Lead-acid Batteries, Nickel-cadmium Batteries)

2.     By Voltage (24 Volts, 36 Volts, 48 Volts, 72 Volts)

3.     By Application (Warehouses, Wholesale Stores, Construction Sites, Manufacturing Industry)

4.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.     By Company (OneCharge, Electrovaya, Flux Power Holdings Inc., Exide Industries Ltd., Amara Raja Batteries Ltd., ENERSYS, Narada Power Source Co. Ltd, Trojan Battery Company LLC, Iberdrola, andGS Yuasa International Ltd)

Key questions answered in the study:

1.     What are the current and future trends of the global Forklift Battery industry?

2.     How the industry has been evolving in terms of type, voltage, and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global Forklift Battery industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global outage management system’ suppliers across various region and countries?

Table of Content:-

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 IMPACT OF COVID-19 ON THE FORKLIFT BATTERY MARKET

6 FORKLIFT BATTERY MARKET REVENUE, 2020-2028F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY VOLTAGE

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY REGION

11 FORKLIFT BATTERY MARKET DYNAMICS

12 FORKLIFT BATTERY MARKET OPPORTUNITIES

13 FORKLIFT BATTERY MARKET TRENDS

14 DEMAND AND SUPPLY-SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 PRICING ANALYSIS

17 STRATEGIC INSIGHTS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER