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Forklift Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 143 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820829
Description Jump to:
The global forklift battery market size reached US$ 4.7 Billion in 2022. Looking forward, the publisher 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:

The publisher 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
9.2 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
9.3 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
9.4 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
9.5 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
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

Companies Mentioned

  • 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

Methodology

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Table Information

Report AttributeDetails
No. of Pages143
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 4.7 Billion
Forecasted Market Value ( USD ) by 2028 $ 6.5 Billion
Compound Annual Growth Rate5.6%
Regions CoveredGlobal
No. of Companies Mentioned11

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