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Power and Charger Market for Material Handling Equipment
Frost & Sullivan, July 2009, Pages: 54
Extended runtime and reliability is a key concern for today’s material handling industry. With increasing pressure to maintain optimized supply chains and minimize inventories, research and development has increased for several aspects of the equipment industry. The power source/battery and charger arena has certainly advanced and is progressively becoming a prime focus. This research service covers the World motive lead acid battery market with detailed analysis on revenue and forecast for the same. This research service analyzes the market and discusses current issues facing the market, revenue and geographic region forecasts, market and technology trends, and technologies utilized.
Research Overview
This Frost & Sullivan research service titled Power and Charger Market for Material Handling Equipment provides revenue and unit market forecasts, distribution channel analysis, competitive analysis, and market drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the following market sectors: forklifts, utility vehicles, tow tractors, burden carriers, passenger carriers, floor scrubbers, airport ground equipment, and other material-handling equipment.
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Market Overview
Environmental Pressure Stimulates Transition from Material Handling Conventional Internal Combustion Engines to Electric-drive Equipment
Environmental considerations have dictated trends in the North American power and charger market for material handling equipment to a large extent. For instance, oil refineries are prioritizing environment compliance initiatives to meet global standards and making it a part of their corporate social responsibility (CSR) program. Material handling equipment is heavily relied on 24 hours a day, 7 days a week in manufacturing, construction, and service industries across the globe, requiring a strong and able energy source and associated charger. "Batteries utilized in the material handling industry are characterized as large and rugged due to the high power requirements of the applications they fuel," notes the analyst of this research service. "To comply with the high demands of modern day batteries, chargers must be able to maintain the battery consistently to provide reliable power to the motive application throughout a typical work-shift operation."
However, fierce competition characterizes the North American power and charger market for material handling. In addition, the industry is faced with continual price pressures in the form of volatile raw material (lead, plastic, and other key component materials) costs, lengthy contracts, and supplier transactions. Other issues that plague the market include cyclicality of customer purchases triggered by climatic patterns, economic conditions, and a distinct lack of product differentiation.
Nevertheless, market participants concur that the future of the market remains strong and optimistic. This optimism stems from next-generation charger technologies such as rapid chargers for material handling equipment. The current economic conditions give supply chain optimization key importance. Mounting pressure to maintain optimized supply chains and minimize inventories has necessitated intensive research and development for several aspects of the equipment industry. The power source/battery arena has taken huge strides and is steadily emerging as the prime focus. Conventional lead acid batteries are regarded as reliable solutions, but charging, maintenance costs, and multi-shift operations continue to plague users.
"The introduction of fast/rapid opportunity charging technology has relieved a certain amount of these challenges, but continues to be cost prohibitive for many user sets throughout the industry," observes the analyst. "Customers demand reliable operation that minimizes downtime and reduces total ownership costs." As the rivalry in the battery and charger market for the material handling market intensifies, great emphasis must be placed on product quality. Manufacturers must roll out products that are made with superior components and materials. Alternative energy solutions including fuel cells or ultracapacitors or advanced battery solutions such as nickel metal hydride and lithium-ion chemistries also strive to improve performance for material handling applications and are expected to make an impact on the overall industry. Coupled with the focus on reducing the carbon footprint and identifying solutions that lower operation and maintenance fees, the material handling market is slated to witness growth over the next three to five years.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Forklifts
- Utility vehicles
- Tow tractors
- Burden carriers
- Passenger carriers
- Floor scrubbers
- Other airport ground equipment
- Other material-handling equipment
- Technologies
The following technologies are covered in this research:
- Flooded and sealed lead acid battery
- Associated chargers
1 EXECUTIVE SUMMARY
- Market Overviews and Definitions
- - Introduction
- - Technologies
- - Strategic Conclusions
2 NORTH AMERICAN POWER AND CHARGER MARKET FOR MATERIAL HANDLING EQUIPMENT
- Market Overview
- - Market Overview and Definitions
- - Market Engineering Measurements
- - Industry Challenges
- - Market Drivers
- - Market Restraints
- Revenue Forecasts and Trends
- - Revenue Forecasts
- - Demand Analysis
- - Market and Technology Trends
- - Alternative Energy Storage Trends in the Material Handling Market
- - Pricing Trends
- Geographic Region Analysis
- - Introduction
- - United States Market
- - Canadian Market
- Competitive Analysis
- - Competitive Structure
3 APPENDIX
- Terms and Definitions
- - List of Abbreviations
- - Glossary of Terms
- - Compound Annual Growth Rate (CAGR)
4 DECISION SUPPORT DATABASE (DSD)
- Supporting Data - DSDs
- - Exchange Rates
- - Number of Manufacturing Enterprises
- - Number of Industrial Enterprises
- - Number of Airports
- - Number of Service Enterprises
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