The U.S. forklift battery market size was valued at $810.5 million in 2020, and is projected to reach $1,785.3 million by 2030, growing at a CAGR of 8.5% from 2021 to 2030.
Electric forklift is the material handling equipment used to load, unload, and move the products or materials sizing from low to heavy capacity. It is widely used in the industries such as warehousing, manufacturing, construction, transportation, and others. It needs energy storage systems/batteries to lift up the load and its movement. Forklift battery is the key component used in the electric forklifts for the above-mentioned purposes. Electric forklift offers benefits such as less cost than other conventional forklifts, environmentally friendly, and others.
Emergence of fuel cell forklifts as an alternative to the electric forklift along with increase in investment toward public and private sectors to maintain the lead in hydrogen economy is expected to drive the growth of the market in the upcoming years. Moreover, growth in the manufacturing and retail & wholesale sectors in the U.S. needs to expand space in warehouses for their product storages. Thus, for the loading, unloading, and material handling there is need of electric forklift, which in turn drives the forklift battery market growth in the U.S. Moreover, growth in awareness toward minimizing environmental pollution and rapid growth in the green logistics is expected to create opportunity in the U.S. forklift battery market during the forecast period.
The U.S. forklift battery market is segmented into type, capacity, and application. Depending on type, the market is categorized into lithium-ion battery, lead acid battery, fuel cell battery, and others. The fuel cell segment is further segmented into Proton Exchange Membrane Fuel Cell (PEMFC) and Direct-Methanol Fuel Cell (DMFC). On the basis of capacity, it is bifurcated into 0-600 Ahr, 600-1200 Ahr, and above 1200 Ahr. The applications covered in the study include warehouses, manufacturing, construction, retail & wholesale stores, and others.
Emergence of fuel cell forklifts as an alternative to the electric forklift along with increase in investment toward public and private sectors to maintain the lead in hydrogen economy is expected to drive the growth of the market in the upcoming years. Moreover, growth in the manufacturing and retail & wholesale sectors in the U.S. needs to expand space in warehouses for their product storages. Thus, for the loading, unloading, and material handling there is need of electric forklift, which in turn drives the forklift battery market growth in the U.S. Moreover, growth in awareness toward minimizing environmental pollution and rapid growth in the green logistics is expected to create opportunity in the U.S. forklift battery market during the forecast period.
The U.S. forklift battery market is segmented into type, capacity, and application. Depending on type, the market is categorized into lithium-ion battery, lead acid battery, fuel cell battery, and others. The fuel cell segment is further segmented into Proton Exchange Membrane Fuel Cell (PEMFC) and Direct-Methanol Fuel Cell (DMFC). On the basis of capacity, it is bifurcated into 0-600 Ahr, 600-1200 Ahr, and above 1200 Ahr. The applications covered in the study include warehouses, manufacturing, construction, retail & wholesale stores, and others.
Key benefits for stakeholders
- The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
- A comprehensive analysis of the factors that drive and restrict the growth of the U.S. forklift battery market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the U.S. forklift battery market growth, in terms of value.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current U.S. forklift battery market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
KEY MARKET SEGMENTS
By Type
- Lithium-Ion Battery
- Lead Acid Battery
- Fuel Cell Battery
- Others
By Capacity
- 0-600 Ahr
- 600-1200 Ahr
- Above 1200 Ahr
By Application
- Warehouses
- Manufacturing
- Construction
- Retail & Wholesale Stores
- Others
KEY MARKET PLAYERS
- Bulldog Battery Corporation
- Crown Equipment Corporation
- East Penn Manufacturing Company
- Electrovaya
- Enersys
- Exide Technologies
- Flux Power Holdings Inc.
- Foreverpure Corporation
- Green Cubes Technology
- Onecharge
- Storage Battery Systems Llc
- Total SE
Frequently Asked Questions about the U.S. Forklift Battery Market
What is the estimated value of the U.S. Forklift Battery Market?
What is the growth rate of the U.S. Forklift Battery Market?
What is the forecasted size of the U.S. Forklift Battery Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | September 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 810.5 million |
| Forecasted Market Value ( USD | $ 1785.3 million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | United States |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: U. S. FORKLIFT BATTERY MARKET, BY TYPE
CHAPTER 5: U. S. FORKLIFT BATTERY MARKET, BY CAPACITY
CHAPTER 6: U. S. FORKLIFT BATTERY MARKET, BY APPLICATION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
