North America Forklift Battery Market Size and Competitive Analysis by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

North America Forklift Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Lithium-Ion, Lead–Acid, and Others) and Application (Warehouses, Construction, Manufacturing, Retail and Wholesale Stores, and Others)

Report Date : Mar 2022
Report Code : TIPRE00027778

Category : Electronics and Semiconductor
Status : Published

Available Report Formats :
No. of Pages : 93

Page Updated: Mar 2022

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The forklift battery market in North America is expected to grow from US$ 1,094.73 million in 2021 to US$ 1,719.26 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

Technological innovation in forklift trucks such as quick battery charging may reduce the downtime of forklift trucks and can improve the overall operational efficiency at material handling and warehouses. The fast charging technology can enable the material handling centers to charge battery at its desired level so that forklift trucks can operate and all it may happen during the break and can be reused immediately. Whereas, the conventional battery charging gives the forklift operator 8 hours of run-time, it then requires 8 hours of charging time and another 8 hours to cool before it can be used again. Hence, to not experience downtime, additional batteries must be purchased for each shift. So, fast charging technology can help warehouses and material handling centers to save the spending on additional batteries. Also, the technology can reduce the downtime and increase work efficiency. Thus, the fast charging feature is expected to propel the North America forklift battery market in the upcoming years.Owing to favorable government initiatives to boost innovations and reinforce infrastructure capabilities, North America has the highest acceptance for emerging technologies. Any impact on industries in the region hampers the region's economic development. The US is the world's worst-affected country due to the COVID-19 pandemic. The country is home to a large number of industrial and forklift battery players, and the outbreak has severely affected the production performance of each of them due to disturbances in the supply chain of battery components. In addition, the region witnessed a slowdown in manufacturing industries during the first two quarters of 2020, and this factor has reduced the operations in factor and warehouses. The underperformance of forklift battery market players in North America is also attributed to limited human movement and shuttering of manufacturing units during the first half on 2020.

North America Forklift Battery Market Revenue and Forecast to 2028 (US$ Million)

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

North America Forklift Battery Market Segmentation

North America Forklift Battery Market – By Type

Lithium ion
Lead–Acid
Others

North America Forklift Battery Market – By Application

Warehouses
Construction
Manufacturing
Retail and Wholesale Stores
Others

North America Forklift Battery Market– By Country

US
Canada
Mexico

North America Forklift Battery Market-Companies Mentioned

Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
Crown Equipment Corporation
East Penn Manufacturing Company
EnerSys
Exide Industries Limited
ForeverPure Corporation
Microtex Energy Private Limited
OneCharge
Saft Groupe SA
Storage Battery Systems, LLC

North America Forklift Battery Report Scope

Report Attribute	Details
Market size in 2021	US$ 1,094.73 Million
Market Size by 2028	US$ 1,719.26 Million
Global CAGR (2021 - 2028)	6.7%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Lithium-Ion Lead-Acid By Application Warehouses Construction Manufacturing Retail and Wholesale Stores
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH Crown Equipment Corporation East Penn Manufacturing Company EnerSys Exide Industries Limited ForeverPure Corporation Microtex Energy Private Limited OneCharge Saft Groupe SA

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the North America Forklift Battery Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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