North America Forklift Battery Charger Market: Forklift Type, Battery Type, Forklift Class, Output Charging Current Rating, Power Rating, Industry, Sales Channel, Country-Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2025-2033

North America forklift battery charger market is witnessing robust expansion, largely propelled by the widespread adoption of electric forklifts across a variety of industries. In 2024, the market was valued at approximately US$ 627.42 million and is expected to grow to an estimated US$ 1,292.26 million by 2033, reflecting a compound annual growth rate (CAGR) of 8.83% over the forecast period from 2025 to 2033. Several key factors contribute to this growth trajectory, including increasing regulatory pressures aimed at reducing emissions, the rapid expansion of logistics and warehousing sectors, and continuous advancements in charging technologies that enhance efficiency and operational flexibility.

Within this expanding market, consumption is heavily concentrated in five states that serve as hubs of electric forklift activity in North America. California leads the pack with an estimated fleet of 38,000 electric Class I to Class III forklifts. These vehicles are supported by roughly 52,000 installed chargers, many of which are strategically clustered in the Inland Empire logistics hub, a major center for distribution and fulfillment operations. This concentration highlights California's aggressive push toward electrification and sustainability in its industrial sector.

Noteworthy Market Developments

Rising competitive intensity within the North American forklift battery charger market is prompting established vendors to pursue strategic alliances as a means to strengthen their positions and accelerate innovation. In March 2024, for example, East Penn Manufacturing teamed up with Switzerland's BRUSA Elektronik to invest $18 million in a state-of-the-art laboratory based in North Carolina. This facility is focused specifically on the development of 96-volt open-platform chargers, a technology that promises greater flexibility and compatibility across a range of forklift models and battery chemistries.

In parallel, Raymond Corporation has taken a different but complementary approach by integrating advanced software capabilities into its charging solutions. The company incorporated predictive-maintenance firmware developed by Verico AI into its iBAT charger units, enabling real-time monitoring of battery health through impedance alerts. This system triggers warnings when impedance readings surpass 0.18 milliohms, allowing fleet operators to proactively address potential battery issues before they result in downtime or costly repairs.

Core Growth Drivers

The rapid expansion of same-day fulfillment hubs is fueling a key driver of growth in the North American forklift battery charger market: the need for rapid-charge capabilities within e-commerce warehouses. As consumer expectations for fast delivery continue to rise, logistics operators are investing heavily in large, high-bay facilities designed to handle high volumes of orders with quick turnaround times. In 2023 alone, the United States added an impressive 82 million square feet of new logistics space, pushing the total footprint of high-bay warehouses to approximately 1.1 billion square feet.

Amazon, as a dominant player in the e-commerce sector, exemplifies this trend with its aggressive commissioning of ninety-four multilevel fulfillment centers. These facilities are equipped with a combined fleet of 27,600 electric Class I trucks, highlighting the scale of electrification in modern logistics operations. Each of these electric forklifts consumes an average of 16 kilowatt-hours per shift, underscoring the substantial energy.

Emerging Opportunity Trends

The North American forklift battery charger market is experiencing a notable technological shift toward modular silicon-carbide (SiC) architectures, which are revolutionizing charger performance through enhanced efficiency and thermal management. These advanced SiC designs offer significant improvements, including switching frequencies around five kilohertz, which contribute to greatly reduced thermal losses compared to traditional technologies.

In a benchmark test conducted by Underwriters Laboratories in January 2024, the benefits of SiC technology were demonstrated. When delivering a power output of 30 kilowatts, these SiC modules generated only 18 watts of heat, a remarkable reduction compared to the 110 watts of heat produced by legacy insulated-gate bipolar transistor (IGBT) designs operating under similar conditions.

Barriers to Optimization

Despite a surge in equipment orders reflecting strong demand in the North American forklift battery charger market, one of the most pressing challenges comes from grid-side limitations, particularly the lengthy utility interconnection queues for electrical loads exceeding 500 kilovolt-amperes (kVA). These queues have become a significant bottleneck, delaying the deployment of high-capacity charging infrastructure that many warehouses require to support expanding electric forklift fleets. For example, Southern California Edison's most recent queue report highlights that 176 warehouse projects are currently pending feeder upgrades, collectively representing an estimated 142 megawatts of charger capacity stuck in limbo even before design phases are finalized.

Detailed Market Segmentation

By Charger Type, standard chargers hold a dominant position, capturing approximately 57.91% of the total market share. The widespread adoption of these chargers is largely due to their compatibility with the existing electrical infrastructure commonly found in older or legacy warehouse facilities. Many warehouses across the United States and Canada were constructed with electrical systems designed to support industrial operations but without the capacity for extensive upgrades.

By Class, class 3 pallet trucks and walkie riders represent a significant portion of the end-user base within the North American forklift battery charger market, accounting for approximately 50.23% of the total market share. These vehicles are widely favored in various industries due to their versatility, compact design, and efficiency in handling palletized goods in tight spaces such as warehouses, retail environments, and distribution centers.

By Output Charging Current Rating, between 50 and 150 amperes holds a commanding position, accounting for nearly one-third of the market share. This particular current range is well-suited to the battery capacities commonly used in forklifts across the region, including 210 ampere-hour (Ah) walkie riders and larger 750 Ah reach trucks. The 50 A to 150 A band strikes an important balance by providing sufficient charging power to replenish these batteries efficiently without placing undue strain on the electrical feeders at the facility, thereby avoiding costly infrastructure upgrades or power disruptions.

By Power Rating, chargers with power ratings between 5 and 10 kilowatts have established a dominant presence, capturing approximately 29.28% of the market share. This specific power range aligns well with the requirements of mainstream forklift battery packs, which commonly operate at voltages of 36 V and 48 V. The popularity of chargers in this bracket can be attributed to their ability to efficiently meet the energy demands of these batteries while avoiding the higher costs associated with electrical installations that exceed certain power thresholds.

Segment Breakdown

By Forklift Fuel Type

• Electric Forklift
• Hybrid Forklift
• Diesel Forklift
• Others

By Battery Type

• Sealed Lead Acid (SLA) Battery
• Lithium Ion Battery
• Nickel-Cadmium Battery Chargers
• Others

By Charger Type

• Standard Chargers
• Fast Chargers
• On-board Chargers
• Smart Chargers

By Voltage Type

• 24V Chargers
• 36V Chargers
• 48V Chargers
• 72V & 80V Chargers

By Forklift Class

• Class 1
• Class 2
• Class 3

By Output Charging Current Rating

• 50A-150A
• 151A-250A
• Above 251A
• Below 50A

By Power Rating

• UP TO 5KW
• 5-10 KW
• 11-15 KW
• >15KW

By Industry

• Warehouses
• Manufacturing
• Construction
• Retail and Wholesale Stores
• Others

By Sales Channel

• OEMs
• Aftermarket

By Country

• The U.S.
• Canada
• Mexico

Leading Market Participants

• PosiCharge
• EnerSys
• Alpine Power Systems
• Viking Power
• Crown Equipment Corporation
• Toyota Material Handling
• OneCharge
• Fronius International GmbH
• Flux Power Holdings, Inc.
• Green Cubes Technology
• Stryten Energy
• East Penn Manufacturing Company
• Advanced Charging Technologies
• Ecotec LTD LLC.
• Power Designers Sibex
• Stanbury Electrical Engineering LLC
• Other Prominent Players