Forklift Battery Charger Market Report 2025

This Forklift Battery Charger Market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The forklift battery charger market size has grown strongly in recent years. It will grow from $1.88 billion in 2024 to $2.06 billion in 2025 at a compound annual growth rate (CAGR) of 9.5%. The growth during the historic period can be attributed to a rising focus on operational efficiency, supportive government initiatives, increased use of lithium-ion batteries, growing investments in research and development, and advancements in cost-saving technologies.

The forklift battery charger market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth projected during the forecast period can be attributed to the widespread adoption of electric forklifts, growing concern for environmental sustainability, the shift from fuel-powered to electric forklifts, increased demand for efficient and reliable forklift battery chargers, and the rising need for energy-efficient solutions. Key trends expected to drive this growth include advancements in battery management systems, improvements in warehouse management systems, the integration of IoT and smart monitoring technologies, energy-efficient charging systems, and the adoption of renewable energy sources.

The increasing adoption of automation is expected to drive significant growth in the forklift battery charger market. Automation in material handling involves the use of automated systems and robots to optimize the movement, storage, and management of goods in warehouses and industrial settings. The growing preference for automation is driven by the need to improve efficiency, reduce labor costs, enhance safety, and increase accuracy in these operations. Forklift battery chargers play an important role in automation by enabling efficient, unattended charging, which helps optimize fleet uptime and reduces the need for manual intervention in warehouse and industrial tasks. For example, in October 2024, the International Federation of Robotics reported that the number of industrial robots operating worldwide reached over 4.2 million units in 2023, marking a 10% increase compared to the previous year. The installation of new industrial robots also reached a record high of 541,302 units in 2023, highlighting the continued demand for automation. As a result, the growing adoption of automation is fueling the demand for forklift battery chargers.

Companies in the forklift battery charger market are focusing on developing innovative solutions such as high-frequency smart charging technology to improve efficiency, save energy, and introduce smart features such as remote monitoring and adaptive charging. High-frequency smart charging technology utilizes high-frequency power and intelligent algorithms to enable fast, efficient, and adaptive battery charging. For instance, in March 2023, Mitsubishi Logisnext Americas Inc., a US-based machinery manufacturer, introduced its Triathlon lithium-ion battery and charger solutions for the Unicarriers product line. These solutions enhance forklift performance, efficiency, and sustainability by offering benefits such as rapid charging, longer operational durations, and minimal maintenance needs, addressing the growing demand for eco-friendly and energy-efficient material handling equipment. This innovation is in line with market trends focused on sustainability and improving productivity in warehouse and industrial operations.

In April 2023, EnerSys, a US-based battery manufacturing company, acquired Industrial Battery and Charger Services Limited (IBCS) for an undisclosed amount. This acquisition strengthens EnerSys’ motive power services and expands its presence in the UK industrial battery and charger sector, supporting its growth and improving customer service. IBCS, a UK-based company, specializes in providing industrial battery and charger solutions.

Major players in the forklift battery charger market are Shanghai Sange Electric S&T Co.Ltd, Jungheinrich AG, Crown Equipment Corporation, Exide Technologies, Fronius International GmbH, Hawker Powersource, Micropower, Power Designers Sibex, Delta-Q Technologies, Eagle Eye Power Solutions, ElCon Chargers, PosiCharge, Advanced Charging Technologies (ACT), PBM SRL, Applied Energy Solutions (AES), ATIB Elettronica S.r.l., Microtex, EFFIC, Rhyl Co. Ltd, and Guangzhou Evaisun Industrial Co. Ltd.

North America was the largest region in the forklift battery charger market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in forklift battery charger report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the forklift battery charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Forklift battery chargers are specialized industrial devices designed to efficiently recharge electric forklift batteries, ensuring optimal performance and safety. These chargers regulate the charging process to prevent overheating and overcharging, thereby enhancing battery longevity and reliability.

The main battery types supported by forklift battery chargers include sealed lead-acid (SLA) batteries, nickel-cadmium batteries, lithium-ion batteries, and others. SLA batteries are maintenance-free, eliminating the need for frequent water or electrolyte replenishment. Forklift battery chargers are designed for various forklift types, such as counterbalance forklifts, rough terrain forklifts, reach trucks, and more. The output charging current ratings vary, ranging from below 50A, 50A-150A, 151A-250A, to above 251A, and are compatible with lead-acid batteries, lithium polymer batteries, and other types. These chargers are used across numerous industries, including manufacturing, warehousing, logistics, retail, and more.

The forklift battery charger market research report is one of a series of new reports that provides forklift battery charger market statistics, including the forklift battery charger industry's global market size, regional shares, competitors with a forklift battery charger market share, detailed forklift battery charger market segments, market trends and opportunities, and any further data you may need to thrive in the forklift battery charger industry. This forklift battery charger market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The forklift battery charger market includes sales of single-phase and three-phase chargers, portable chargers, high-frequency chargers, and battery management systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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