IMARC Group, a leading market research company, has recently releases report titled “Forklift Battery Market Report by Type (Lithium-ion Battery, Lead–Acid Battery, and Others), Sales Channel (OEM, Aftermarket), Application (Warehouses, Manufacturing, Construction, Retail and Wholesale Stores, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the market.

How Big is the Forklift Battery Market?

The global forklift battery market size reached US$ 4.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.

Industry Overview of Forklift Battery

Forklift battery referred to as power source and is available in lead-acid and lithium-ion types. Lead-acid batteries are large and contain liquid, with a removable top that produces electricity through a chemical reaction involving electrolyte, water, and sulfuric acid. In contrast, lithium-ion batteries are smaller, more energy-dense, and require no water maintenance as they are sealed shut. Forklift batteries include a battery case, self-contained cells, circuit bars, and gauge wire cables. Despite having fewer cells, they deliver higher power due to their low energy-to-weight and energy-to-volume ratios. Consequently, they are extensively utilized in warehouses, manufacturing units, construction sites, and retail outlets.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/forklift-battery-market/requestsample

What are the growth prospects and trends in the forklift battery industry?

The market is experiencing a positive outlook primarily due to significant growth observed in the manufacturing and construction sectors. This growth has led to an escalated demand for material movement, transportation, and lifting applications, fueled by the rise of e-commerce platforms. Furthermore, the market is benefiting from the widespread adoption of electric forklifts across various industries.

The introduction of innovative products, such as quick battery charging systems that minimize downtime and extend the operational life of forklifts, is also contributing to market expansion. Additionally, the utilization of forklift batteries for domestic purposes is playing a role in driving market growth. These batteries, particularly lead-acid ones, are highly recyclable and can power off-grid energy and solar power systems.

Moreover, the market is being positively influenced by the adoption of green logistics practices and the implementation of favorable government policies that promote sustainable infrastructural development. These factors collectively indicate a promising trajectory for market growth.

Leading Companies Operating in the Global Forklift Battery Industry:

• Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH

• Amara Raja Batteries Ltd.

• Camel Group Co. Ltd.

• Crown Equipment Corporation

• East Penn Manufacturing Company

• Enersys

• Exide Industries Limited

• Flux Power

• Microtex Energy Private Limited

• Northland Industrial Truck Co. Inc. (Alta Enterprises LLC)

• Storage Battery Systems LLC

• Systems Sunlight S.A.

Forklift Battery Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Lithium-ion Battery

• Lead–Acid Battery

• Others

Breakup by Sales Channel:

• OEM

• Aftermarket

Breakup by Application:

• Warehouses

• Manufacturing

• Construction

• Retail and Wholesale Stores

• Others

Breakup by Region:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163