PUBLISHER: IMARC | PRODUCT CODE: 1291374
PUBLISHER: IMARC | PRODUCT CODE: 1291374
Forklift Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global forklift battery market size reached US$ 4.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
A forklift battery is the power source used in industrial forklift trucks to function adequately and lift heavy materials. The batteries are commonly available in lead-acid and lithium-ion variants. The lead-acid batteries are bulky, liquid-filled units with a removable top that generate electricity through a chemical reaction between electrolyte, water and sulfuric acid. On the other hand, lithium-ion batteries are more compact, energy-dense and are sealed shut with no water maintenance requirements. Forklift batteries consist of a battery case, self-contained cells, circuit bars and gauge wire cables. They have a low energy-to-weight and energy-to-volume ratio and can provide relatively higher power despite having a lower volume of cells. As a result, they are widely used in warehouses, manufacturing units, construction sites and retail outlets.
Forklift Battery Market Trends:
Significant growth in the manufacturing and construction industries is among the key factors creating a positive outlook for the market. With the proliferation of e-commerce platforms, there is an increasing requirement for material movement, transporting and lifting applications, which is providing a thrust to the market growth. Moreover, the widespread adoption of electric forklifts across industries is also favoring the growth of the market. Additionally, various product innovations, such as the development of quick battery charging systems for minimal downtime and longer operational life of the forklifts`, are acting as other growth-inducing factors. In line with this, the utilization of forklift batteries for domestic applications is also contributing to the market growth. Lead-acid batteries are highly recyclable and can be used for powering off-grid energy and solar power systems. Other factors, including the widespread adoption of green logistics, along with the implementation of favorable government policies promoting sustainable infrastructural development, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global forklift battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, sales channel and application.
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Systems Sunlight S.A.
Key Questions Answered in This Report
1. What was the size of the global forklift battery market in 2022?
2. What is the expected growth rate of the global forklift battery market during 2023-2028?
3. What are the key factors driving the global forklift battery market?
4. What has been the impact of COVID-19 on the global forklift battery market?
5. What is the breakup of the global forklift battery market based on the type?
6. What is the breakup of the global forklift battery market based on the application?
7. What are the key regions in the global forklift battery market?
8. Who are the key players/companies in the global forklift battery market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Forklift Battery Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Lithium-ion Battery
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Lead-Acid Battery
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Others
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Sales Channel
- 7.1 OEM
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Aftermarket
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Application
- 8.1 Warehouses
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Manufacturing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Construction
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Retail and Wholesale Stores
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Amara Raja Batteries Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 Camel Group Co. Ltd.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.4 Crown Equipment Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 East Penn Manufacturing Company
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Enersys
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Exide Industries Limited
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.8 Flux Power
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Microtex Energy Private Limited
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Northland Industrial Truck Co. Inc. (Alta Enterprises LLC)
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Storage Battery Systems LLC
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Systems Sunlight S.A.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
List of Figures
- Figure 1: Global: Forklift Battery Market: Major Drivers and Challenges
- Figure 2: Global: Forklift Battery Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Forklift Battery Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Forklift Battery Market: Breakup by Type (in %), 2022
- Figure 5: Global: Forklift Battery Market: Breakup by Sales Channel (in %), 2022
- Figure 6: Global: Forklift Battery Market: Breakup by Application (in %), 2022
- Figure 7: Global: Forklift Battery Market: Breakup by Region (in %), 2022
- Figure 8: Global: Forklift Battery (Lithium-ion Battery) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Forklift Battery (Lithium-ion Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Forklift Battery (Lead-Acid Battery) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Forklift Battery (Lead-Acid Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Forklift Battery (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Forklift Battery (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Forklift Battery (OEM) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Forklift Battery (OEM) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Forklift Battery (Aftermarket) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Forklift Battery (Aftermarket) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Forklift Battery (Warehouses) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Forklift Battery (Warehouses) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Forklift Battery (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Forklift Battery (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Forklift Battery (Construction) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Forklift Battery (Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Forklift Battery (Retail and Wholesale Stores) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Forklift Battery (Retail and Wholesale Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Forklift Battery (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Forklift Battery (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: North America: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: North America: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: United States: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: United States: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Canada: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Canada: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Asia-Pacific: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Asia-Pacific: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: China: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: China: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Japan: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Japan: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: India: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: India: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: South Korea: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: South Korea: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Australia: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Australia: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Indonesia: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Indonesia: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Others: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Others: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Europe: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Europe: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Germany: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Germany: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: France: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: France: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: United Kingdom: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: United Kingdom: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Italy: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Italy: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Spain: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Spain: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Russia: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Russia: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Others: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Others: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Latin America: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Latin America: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Brazil: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Brazil: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Mexico: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Mexico: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Others: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Others: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Middle East and Africa: Forklift Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Middle East and Africa: Forklift Battery Market: Breakup by Country (in %), 2022
- Figure 76: Middle East and Africa: Forklift Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Global: Forklift Battery Industry: SWOT Analysis
- Figure 78: Global: Forklift Battery Industry: Value Chain Analysis
- Figure 79: Global: Forklift Battery Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Forklift Battery Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Forklift Battery Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Forklift Battery Market Forecast: Breakup by Sales Channel (in Million US$), 2023-2028
- Table 4: Global: Forklift Battery Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Forklift Battery Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Forklift Battery Market: Competitive Structure
- Table 7: Global: Forklift Battery Market: Key Players
