Insights on the Forklift Battery Global Market to 2027 - by Type, Sales Channel, Application and Region


Dublin, May 02, 2022 (GLOBE NEWSWIRE) -- The "Forklift Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to's offering.

The global forklift battery market reached a value of US$ 4.39 billion in 2021. Looking forward, the market is projected to reach a value of US$ 6.21 billion by 2027, exhibiting a CAGR of 5.65% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.

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

This report provides an analysis of the key trends in each sub-segment of the global forklift battery market, along with forecasts at the global, regional and country level from 2022-2027. The 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

  • How has the global forklift battery market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global forklift battery market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the sales channel?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global forklift battery market and who are the key players?
  • What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and 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

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

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 Company Overview Product Portfolio
14.3.2 Amara Raja Batteries Ltd. Company Overview Product Portfolio Financials
14.3.3 Camel Group Co. Ltd. Company Overview Product Portfolio Financials
14.3.4 Crown Equipment Corporation Company Overview Product Portfolio
14.3.5 East Penn Manufacturing Company Company Overview Product Portfolio
14.3.6 Enersys Company Overview Product Portfolio Financials SWOT Analysis
14.3.7 Exide Industries Limited Company Overview Product Portfolio Financials
14.3.8 Flux Power Company Overview Product Portfolio
14.3.9 Microtex Energy Private Limited Company Overview Product Portfolio
14.3.10 Northland Industrial Truck Co. Inc. (Alta Enterprises LLC) Company Overview Product Portfolio
14.3.11 Storage Battery Systems LLC Company Overview Product Portfolio
14.3.12 Systems Sunlight S.A. Company Overview Product Portfolio

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