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U.S. Forklift Battery Market by Type, Capacity and Application: Country Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5480844
  • Report
  • September 2021
  • Region: United States
  • 138 Pages
  • Allied Analytics LLP
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.

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
Other players operating in the value chain of the U.S. forklift battery market are NITCO, American Battery Company, Power Battery Company, Inc., Dyno Battery, Inc., Union Battery Corporation, and others.
Frequently Asked Questions about the U.S. Forklift Battery Market

What is the estimated value of the U.S. Forklift Battery Market?

The U.S. Forklift Battery Market was estimated to be valued at $810.5 million in 2020.

What is the growth rate of the U.S. Forklift Battery Market?

The growth rate of the U.S. Forklift Battery Market is 8.2%, with an estimated value of $1785.3 million by 2030.

What is the forecasted size of the U.S. Forklift Battery Market?

The U.S. Forklift Battery Market is estimated to be worth $1785.3 million by 2030.

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the market
3.3. Value chain analysis
3.4. Top investment pockets
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Emergence of fuel cell forklifts as an alternative to the electric forklift
3.5.1.2. Expanding warehouse spaces and the manufacturing industry
3.5.2. Restraints
3.5.2.1. High cost associated with lithium-ion battery
3.5.3. Opportunity
3.5.3.1. Growth in penetration of green logistics
3.6. Patent analysis
3.6.1. By region, 2013-2020
3.7. Impact of government rules and regulations
3.7.1. Occupational Health and Safety Act (OSHA) clauses pertinent to condition of powered forklift trucks
3.8. Impact of COVID-19 outbreak on the market
3.9. Barrier to lithium-ion battery penetration in the market
3.10. Competitive Factors of Forklift Batteries
3.11. Pricing analysis forklift batteries
3.12. Market share analysis
3.13. Distributor analysis
CHAPTER 4: U. S. FORKLIFT BATTERY MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Lithium-ion battery
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, 2020-2030 ($Million)
4.3. Lead acid battery
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, 2020-2030 ($Million)
4.4. Fuel cell battery
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, 2020-2030 ($Million)
4.4.3. Proton Exchange Membrane Fuel Cell (PEMFC)
4.4.4. Direct Methanol Fuel Cell (DMFC)
4.5. Others
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 5: U. S. FORKLIFT BATTERY MARKET, BY CAPACITY
5.1. Overview
5.1.1. Market size and forecast
5.2.0-600 Ahr
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, 2020-2030 ($Million)
5.3.600-1200 Ahr
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, 2020-2030 ($Million)
5.4. Above 1,200 Ahr
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 6: U. S. FORKLIFT BATTERY MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Warehouses
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, 2020-2030 ($Million)
6.3. Manufacturing
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, 2020-2030 ($Million)
6.4. Construction
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, 2020-2030 ($Million)
6.5. Retail & wholesale stores
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, 2020-2030 ($Million)
6.6. Others
6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast, 2020-2030 ($Million)
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.1.1. Market player positioning, 2020
7.2. Top winning strategies
7.2.1. Top winning strategies, by year
7.2.2. Top winning strategies, by development
7.2.3. Top winning strategies, by company
7.3. Product Mapping of Players
7.4. Competitive heatmap
7.5. Key developments
7.5.1. New product launches
7.5.2. Agreement
7.5.3. Acquisitions
7.5.4. Product Development
7.5.5. Partnerships
CHAPTER 8: COMPANY PROFILES
8.1. BULLDOG BATTERY CORPORATION
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Product portfolio
8.2. CROWN EQUIPMENT CORPORATION
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Product portfolio
8.2.4. Key strategic moves and developments
8.3. EAST PENN MANUFACTURING COMPANY
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Product portfolio
8.3.4. Key strategic moves and developments
8.4. ELECTROVAYA INC.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Product portfolio
8.4.4. Business performance
8.4.5. Key strategic moves and developments
8.5. ENERSYS
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.5.6. Key strategic moves and developments
8.6. EXIDE TECHNOLOGIES
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Product portfolio
8.6.4. Key strategic moves and developments
8.7. FLUX POWER HOLDINGS INC.
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Product portfolio
8.7.4. Business performance
8.7.5. Key strategic moves and developments
8.8. FOREVERPURE CORPORATION
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Product portfolio
8.9. GREEN CUBES TECHNOLOGY
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Product portfolio
8.9.4. Key strategic moves and developments
8.10. ONECHARGE
8.10.1. Company overview
8.10.2. Company Snapshot
8.10.3. Product portfolio
8.10.4. Key strategic moves and developments
8.11. STORAGE BATTERY SYSTEMS LLC
8.11.1. Company overview
8.11.2. Company Snapshot
8.11.3. Product portfolio
8.12. TOTAL SE
8.12.1. Company overview
8.12.2. Company snapshot
8.12.3. Operating business segments
8.12.4. Product portfolio
8.12.5. Business performance
List of Tables
TABLE 01. U.S. FORKLIFT BATTERY MARKET, BY TYPE, 2020-2030 ($MILLION)
TABLE 02. U.S. FORKLIFT BATTERY MARKET, BY FUEL CELL TYPE, 2020-2030 ($MILLION)
TABLE 03. U.S. FORKLIFT BATTERY MARKET, BY CAPACITY, 2020-2030 ($MILLION)
TABLE 04. U.S. FORKLIFT BATTERY MARKET, BY APPLICATION, 2020-2030 ($MILLION)
TABLE 05. KEY NEW PRODUCT LAUNCHES (2018-2021)
TABLE 06. KEY AGREEMENT (2018-2021)
TABLE 07. KEY ACQUISITIONS (2018-2021)
TABLE 08. KEY PRODUCT DEVELOPMENT (2018-2021)
TABLE 09. KEY PARTNERSHIPS (2018-2021)
TABLE 10. BULLDOG BATTERY CORPORATION: COMPANY SNAPSHOT
TABLE 11. BULLDOG BATTERY CORPORATION: PRODUCT PORTFOLIO
TABLE 12. CROWN: COMPANY SNAPSHOT
TABLE 13. CROWN: PRODUCT PORTFOLIO
TABLE 14. CROWN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 15. EAST PENN: COMPANY SNAPSHOT
TABLE 16. EAST PENN: PRODUCT PORTFOLIO
TABLE 17. EAST PENN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 18. ELECTROVAYA: COMPANY SNAPSHOT
TABLE 19. ELECTROVAYA: PRODUCT PORTFOLIO
TABLE 20. ELECTROVAYA: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 21. ELECTROVAYA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 22. ENERSYS: COMPANY SNAPSHOT
TABLE 23. ENERSYS: OPERATING SEGMENTS
TABLE 24. ENERSYS: PRODUCT PORTFOLIO
TABLE 25. ENERSYS: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 26. ENERSYS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 27. EXIDE TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 28. EXIDE TECHNOLOGIES: PRODUCT PORTFOLIO
TABLE 29. EXIDE TECHNOLOGIES: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 30. FLUX POWER: COMPANY SNAPSHOT
TABLE 31. FLUX POWER: PRODUCT PORTFOLIO
TABLE 32. FLUX POWER: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 33. FLUX POWER: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 34. FOREVERPURE CORPORATION: COMPANY SNAPSHOT
TABLE 35. FOREVERPURE CORPORATION: PRODUCT PORTFOLIO
TABLE 36. GREEN CUBES: COMPANY SNAPSHOT
TABLE 37. GREEN CUBES: PRODUCT PORTFOLIO
TABLE 38. GREEN CUBES: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 39. ONECHARGE: COMPANY SNAPSHOT
TABLE 40. ONECHARGE: PRODUCT PORTFOLIO
TABLE 41. ONECHARGE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 42. SBS: COMPANY SNAPSHOT
TABLE 43. SBS: PRODUCT PORTFOLIO
TABLE 44. TOTAL: COMPANY SNAPSHOT
TABLE 45. TOTAL: OPERATING SEGMENTS
TABLE 46. TOTAL: PRODUCT PORTFOLIO
TABLE 47. TOTAL: OVERALL FINANCIAL STATUS ($MILLION)
List of Figures
FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 03. MODERATE THREAT OF NEW ENTRANTS
FIGURE 04. MODERATE THREAT OF SUBSTITUTES
FIGURE 05. HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 06. MODERATE BARGAINING POWER OF BUYERS
FIGURE 07. VALUE CHAIN ANALYSIS
FIGURE 08. TOP INVESTMENT POCKETS
FIGURE 09. U.S. FORKLIFT BATTERY MARKET DYNAMICS
FIGURE 10. PATENT ANALYSIS, BY REGION
FIGURE 11. U.S. FORKLIFT BATTERY MARKET, BY TYPE, 2020-2030
FIGURE 12. U.S. FORKLIFT BATTERY MARKET FOR LITHIUM-ION BATTERY, 2020-2030 ($MILLION)
FIGURE 13. U.S. FORKLIFT BATTERY MARKET FOR LEAD-ACID BATTERY, 2020-2030 ($MILLION)
FIGURE 14. U.S. FORKLIFT BATTERY MARKET FOR FUEL CELL BATTERY, 2020-2030 ($MILLION)
FIGURE 15. U.S. FORKLIFT BATTERY MARKET FOR OTHERS, 2020-2030 ($MILLION)
FIGURE 16. U.S. FORKLIFT BATTERY MARKET, BY CAPACITY, 2020-2030
FIGURE 17. U.S. FORKLIFT BATTERY MARKET FOR 0-600 AHR BATTERY CAPACITY, 2020-2030 ($MILLION)
FIGURE 18. U.S. FORKLIFT BATTERY MARKET FOR 600-1200 AHR BATTERY CAPACITY, 2020-2030 ($MILLION)
FIGURE 19. U.S. FORKLIFT BATTERY MARKET FOR ABOVE 1200 AHR BATTERY CAPACITY, 2020-2030 ($MILLION)
FIGURE 20. U.S. FORKLIFT BATTERY MARKET, BY APPLICATION, 2020 VS 2030
FIGURE 21. U.S. FORKLIFT BATTERY MARKET FOR WAREHOUSES, 2020-2030 ($MILLION)
FIGURE 22. GLOBAL MANUFACTURING OUTPUT OF TOP 10 ECONOMIES (2019) (% SHARE)
FIGURE 23. U.S. FORKLIFT BATTERY MARKET FOR MANUFACTURING, 2020-2030 ($MILLION)
FIGURE 24. U.S. FORKLIFT BATTERY MARKET FOR CONSTRUCTION, 2020-2030 ($MILLION)
FIGURE 25. U.S. RETAIL SALES GROWTH, 2012-2020 ($TRILLION)
FIGURE 26. U.S. FORKLIFT BATTERY MARKET FOR RETAIL & WHOLESALE STORES, 2020-2030 ($MILLION)
FIGURE 27. U.S. FORKLIFT BATTERY MARKET FOR OTHERS, 2020-2030 ($MILLION)
FIGURE 28. MARKET PLAYER POSITIONING, 2020
FIGURE 29. TOP WINNING STRATEGIES, BY YEAR, 2018-2021
FIGURE 30. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2021 (%)
FIGURE 31. TOP WINNING STRATEGIES, BY COMPANY, 2018-2021
FIGURE 32. PRODUCT MAPPING OF PLAYERS
FIGURE 33. COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 34. ELECTROVAYA: REVENUE, 2018-2020 ($MILLION)
FIGURE 35. ELECTROVAYA: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 36. ELECTROVAYA: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 37. ENERSYS: REVENUE, 2018-2020 ($MILLION)
FIGURE 38. ENERSYS: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 39. ENERSYS: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 40. FLUX POWER: REVENUE, 2017-2019 ($MILLION)
FIGURE 41. TOTAL: REVENUE, 2018-2020 ($MILLION)
FIGURE 42. TOTAL: REVENUE SHARE BY SEGMENT, 2020 (%)

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.

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