Forklift Battery Market to Grow at a CAGR of 7.1% to reach US$ 7,759.94 million from 2021 to 2028

Forklift Battery Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Lithium ion, Lead-Acid, Others), Application (Warehouses, Construction, Manufacturing, Retail and Wholesale Stores, Others), and Geography

  • Report Code : TIPRE00009135
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 143
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Forklift Battery Market to Grow at a CAGR of 7.1% to reach US$ 7,759.94 million from 2021 to 2028

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The forklift battery market is expected to grow from US$ 4,816.54 million in 2021 and is projected to reach US$ 7,759.94 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.

With the emergence of e-commerce and rising digital literacy among the consumers, the global logistics industry has been growing rapidly in the recent years and this trend has increased the demand for forklift trucks. In addition, factors such as rising disposable income, dual-income households, and constant urbanization have encouraged consumers from developed and emerging economies to adopt the trend of online shopping. This has further resulted in the rapid development of retail channels requiring efficient inventory management and warehousing solutions to ensure on time product delivery to customer. Hence the emergence of consumer retail sector is positively impacting the growth of the forklift battery market. Recently, the pharmaceutical companies have witnessed a sudden spike in demand for medicine and healthcare equipment due to the ongoing COVID-19 pandemic. Hence, to ensure on time delivery of medicines and equipment, the swift logistics operations and services have been introduced by the various companies. For Instance, in Feb 2021, Mahindra Logistics engaged in logistics and transportation services for COVID-19 vaccines. Hence, the ongoing development is expected to increase the demand for forklift trucks to maintain smooth material handling operations at warehouses and the following development is positively impacting to the forklift battery market

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Forklift Battery Market: Strategic Insights

forklift-battery-market
Market Size Value inUS$ 4,816.54 Million in 2021
Market Size Value byUS$ 7,759.94 Million by 2028
Growth rateCAGR of 7.1% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on Forklift Battery Market

The COVID-19 pandemic has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients compelled governments to put a bar on transportation of humans and goods. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which hindered the growth of retail, e-commerce, manufacturing, and logistics sectors. Additionally, the social or physical distancing measures imposed by governments have put limitations on the operations of logistics and other service providers. This disruption has resulted in the decline in material handling work.

The pandemic has had a negative impact on the forklift batter market. Due to closure of major manufacturing industries supply chains, hence, goods handling work at plant and warehouses got impacted adversely and subsequently it also affected the market. On the contrary, due to the operational activities of essential goods such as food & beverage, pharmaceuticals and healthcare equipment, the demand for material stacking and inter-logistics handling work have spurred which has helped in the adoption of forklift trucks. This has led the forklift battery market players to witness the constant flow of demand for their products. Despite the disruption caused by the COVID-19 pandemic, the business of mentioned sectors is likely to surge in the future as business are getting resumed after a long lockdown measure.

Forklift Battery Market Insights

Rapid Industrialization in Developing Regions Fuels the Growth of Forklift Battery Market

The forklift battery market is growing significantly in developing regions due to the rising industrialization and urbanization. The fast-paced industrialization in developing regions is attributed to the government support for the manufacturing industries and low operating cost in region owing to cheap labor wages, which attract businesses from larger manufacturing bases worldwide. For instance, the government of India has launched Make in India campaign to encourage companies to manufacture in India and boost its domestic manufacturing industry. Also, to implement the campaign successfully, the government is providing subsidies to investors. Similarly, the Chinese government has launched “Made in China 2025” plan to increase investment in China’s manufacturing industry and make China a top country in global high-tech manufacturing. Besides, growing middle-class population and their disposable income are proliferating the demand for consumer goods and is attracting manufacturing companies to setup its business in developing region. Thus, the growing industrialization in developing regions is expected to boost the growth of the infrastructure and manufacturing industries and they are opting forklift trucks to smoothen day-to-day operations. Therefore, the following development is expected to create ample demand for forklift trucks, which, in turn will positively impact the growth of the forklift battery market.

Type - Based Market Insights

Based on type, the forklift battery market is bifurcated into lithium ion, lead–acid, and others. In 2020, the lead–acid segment accounted for the largest share in the market.

Application-Based Market Insights

Based on application, the forklift battery market is segmented into warehouses, construction, manufacturing, retail and wholesale stores, and other applications. In 2020, the manufacturing segment accounted for the largest market share.

The players operating in the forklift battery market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In March 2019, The HOPPECKE Batterien GmbH & Co. KG and Erikoğlu Emaye Bakır Tel San. A. Ş. announced an exclusive partnership at CeMAT Eurasia. HOPPECKE and Erikoğlu Holding are going to work together in Turkey and offer customers the HOPPECKE product portfolio of the Motive division.
  • In January 2021, Enersys, the global leader in energy solutions expanded its Manufacturer Representative Agreement with Industrial Battery & Charger, Inc. IBCI has taken the responsibility for sales and services of all EnerSys motive power products in the state of Alabama. Motive power batteries are used in electric forklift trucks and other industrial electric powered vehicles.

Forklift Battery Market Report Scope

The global forklift battery market has been segmented as mentioned below:


By Type

  • Lithium ion
  • Lead–Acid
  • Others

By Application

  • Warehouses
  • Construction
  • Manufacturing
  • Retail and Wholesale Stores
  • Other Applications

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Accumulatorenwerke Hoppecke Carl Zoellner And Sohn Gmbh
  • Crown Equipment Corporation
  • ForeverPure Corporation
  • Exide Industries Limited
  • EnerSys
  • OneCharge
  • Saft Groupe SA
  • Storage Battery Systems, LLC
  • East Penn Manufacturing Company
  • Microtex Energy Private Limited
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Application , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which product is expected to dominate the market in the forecast period?

A lithium-ion battery is a rechargeable battery types in which lithium ions move from the negative electrode to the positive electrode during discharge and back when charging. It is one of the most popular types of rechargeable battery for portable electronics and forklift trucks. The lithium-ion battery is one of the fastest growing battery segment due to its various factors such as one of the best energy-to-weight ratios, high open circuit voltage, low self-discharge rate, and a slow loss of charge when not in use.

What are market opportunities for forklift battery market?

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.

What are reasons behind forklift battery market growth?

The growth of the forklift battery market is primarily attributed to the emergence of e-commerce and rising digital literacy among the consumers, the global logistics industry has been growing rapidly in the recent years and this trend has increased the demand of forklift trucks. In addition, Factors such as rising disposable incomes, dual-income households, and constant urbanization have encouraged consumers across both developed and emerging economies to adopt trend of doing online shopping. This has further resulted in the rapid development of retail channels requiring efficient inventory management and warehousing solutions to ensure timely delivery of applications to customer. Hence the emergence of consumer retail sector is positively impacting to the forklift battery market as the retail business development is bolstering the demand for forklift trucks.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Forklift Battery Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 APAC

4.2.4 MEA

4.2.5 SAM

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Forklift Battery Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Logistics and Warehouses

5.1.2 Rapid Industrialization in Developing Regions

5.2 Market Restraints

5.2.1 Electric Pallet Stacker as an Alternate of Forklift Trucks

5.3 Opportunities

5.3.1 Technological Innovations and Features such as Quick Charging

5.4 Future Trends

5.4.1 Solar Based Forklift Batteries with Smart Energy Storage Systems

5.5 Impact Analysis of Drivers And Restraints

6. Forklift Battery – Global Market Analysis

6.1 Global Forklift Battery Market Overview

6.2 Global Forklift battery Market Revenue Forecast and Analysis

6.3 Market Positioning – Five Key Players

7. Global Forklift Battery Market – By Type

7.1 Overview

7.1.1 Global Forklift Battery Market, by Type

7.2 Lithium-Ion

7.2.1 Global Lithium-Ion Market Revenue and Forecasts to 2028 (US$ Million)

7.3 Lead–Acid

7.3.1 Global Lead–Acid Market Revenue and Forecasts to 2028 (US$ Million)

7.4 Others

7.4.1 Global Others Market Revenue and Forecasts to 2028 (US$ Million)

8. Global Forklift Battery Market – By Application

8.1 Overview

8.1.1 Rest of Europe: Forklift Battery Market, by Application

8.2 Warehouses

8.2.1 Global Warehouses Market Revenue and Forecasts to 2028 (US$ Million)

8.3 Construction

8.3.1 Global Construction Market Revenue and Forecasts to 2028 (US$ Million)

8.4 Manufacturing

8.4.1 Global Manufacturing Market Revenue and Forecasts to 2028 (US$ Million)

8.5 Retail and Wholesale Stores

8.5.1 Global Retail and Wholesale Stores Market Revenue and Forecasts to 2028 (US$ Million)

8.6 Others

8.6.1 Global Others Market Revenue and Forecasts to 2028 (US$ Million)

9. Forklift battery Market – Geographic Analysis

9.1 Overview

9.2 North America: Forklift Battery Market

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

9.2.2 North America: Forklift Battery Market, by Type

9.2.3 North America: Forklift Battery Market, by Application

9.2.4 North America: Forklift Battery Market, by Key Country

9.2.4.1 US: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.1.1 US: Forklift Battery Market, by Type

9.2.4.1.2 US: Forklift Battery Market, by Application

9.2.4.2 Canada: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.2.1 Canada: Forklift Battery Market, by Type

9.2.4.2.2 Canada: Forklift Battery Market, by Application

9.2.4.3 Mexico: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.3.1 Mexico: Forklift Battery Market, by Type

9.2.4.3.2 Mexico: Forklift Battery Market, by Application

9.3 Europe: Forklift Battery Market

9.3.1 Europe: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.2 Europe: Forklift Battery Market, by Type

9.3.3 Europe: Forklift Battery Market, by Application

9.3.4 Europe: Forklift Battery Market, by Key Country

9.3.4.1 France: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.1.1 France: Forklift Battery Market, by Type

9.3.4.1.2 France: Forklift Battery Market, by Application

9.3.4.2 Germany: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.2.1 Germany: Forklift Battery Market, by Type

9.3.4.2.2 Germany: Forklift Battery Market, by Application

9.3.4.3 Italy: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.3.1 Italy: Forklift Battery Market, by Type

9.3.4.3.2 Italy: Forklift Battery Market, by Application

9.3.4.4 UK: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.4.1 UK: Forklift Battery Market, by Type

9.3.4.4.2 UK: Forklift Battery Market, by Application

9.3.4.5 Russia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.5.1 Russia: Forklift Battery Market, by Type

9.3.4.5.2 Russia: Forklift Battery Market, by Application

9.3.4.6 Rest of Europe: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.6.1 Rest of Europe: Forklift Battery Market, by Type

9.3.4.6.2 Rest of Europe: Forklift Battery Market, by Application

9.4 APAC: Forklift Battery Market

9.4.1 APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.2 APAC: Forklift Battery Market, by Type

9.4.3 APAC: Forklift Battery Market, by Application

9.4.4 APAC: Forklift Battery Market, by Key Country

9.4.4.1 China: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.1.1 China: Forklift Battery Market, by Type

9.4.4.1.2 China: Forklift Battery Market, by Application

9.4.4.2 Japan: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.2.1 Japan: Forklift Battery Market, by Type

9.4.4.2.2 Japan: Forklift Battery Market, by Application

9.4.4.3 India: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.3.1 India: Forklift Battery Market, by Type

9.4.4.3.2 India: Forklift Battery Market, by Application

9.4.4.4 South Korea: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.4.1 South Korea: Forklift Battery Market, by Type

9.4.4.4.2 South Korea: Forklift Battery Market, by Application

9.4.4.5 Australia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.5.1 Australia: Forklift Battery Market, by Type

9.4.4.5.2 Australia: Forklift Battery Market, by Application

9.4.4.6 Rest of APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.6.1 Rest of APAC: Forklift Battery Market, by Type

9.4.4.6.2 Rest of APAC: Forklift Battery Market, by Application

9.5 MEA: Forklift Battery Market

9.5.1 MEA: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.5.2 MEA: Forklift Battery Market, by Type

9.5.3 MEA: Forklift Battery Market, by Application

9.5.4 MEA: Forklift Battery Market, by Key Country

9.5.4.1 South Africa: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.1.1 South Africa: Forklift Battery Market, by Type

9.5.4.1.2 South Africa: Forklift Battery Market, by Application

9.5.4.2 UAE: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.2.1 UAE: Forklift Battery Market, by Type

9.5.4.2.2 UAE: Forklift Battery Market, by Application

9.5.4.3 Saudi Arabia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.3.1 Saudi Arabia: Forklift Battery Market, by Type

9.5.4.3.2 Saudi Arabia: Forklift Battery Market, by Application

9.5.4.4 Rest of MEA: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.4.1 Rest of MEA: Forklift Battery Market, by Type

9.5.4.4.2 Rest of MEA: Forklift Battery Market, by Application

9.6 SAM: Forklift Battery Market

9.6.1 SAM: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.6.2 SAM: Forklift Battery Market, by Type

9.6.3 SAM: Forklift Battery Market, by Application

9.6.4 SAM: Forklift Battery Market, by Key Country

9.6.4.1 Brazil: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.1.1 Brazil: Forklift Battery Market, by Type

9.6.4.1.2 Brazil: Forklift Battery Market, by Application

9.6.4.2 Argentina: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.2.1 Argentina: Forklift Battery Market, by Type

9.6.4.2.2 Argentina: Forklift Battery Market, by Application

9.6.4.3 Rest of SAM: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.3.1 Rest of SAM: Forklift Battery Market, by Type

9.6.4.3.2 Rest of SAM: Forklift Battery Market, by Application

10. Forklift battery Market - COVID-19 Impact Analysis

10.1 Overview

10.2 North America: Impact Assessment of COVID-19 Pandemic

10.3 Europe: Impact Assessment of COVID-19 Pandemic

10.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic

10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic

10.6 South America Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Market Initiative

11.2 Merger and Acquisition

11.3 New Development

12. Company Profiles

12.1 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Crown Equipment Corporation

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 ForeverPure Corporation

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Exide Industries Limited

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 EnerSys

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 OneCharge

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Saft Groupe SA

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Storage Battery Systems, LLC

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 East Penn Manufacturing Company

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Microtex Energy Private Limited

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Global Forklift battery Market Revenue and Forecast to 2028 (US$ Million)

Table 2. Global Forklift Battery Market, by Type – Revenue and Forecast to 2028 (Units in Thousands)

Table 3. Global: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (Units in Thousands)

Table 4. North America: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 5. North America: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 6. North America: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 7. US: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 8. US: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9. Canada: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10. Canada: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 11. Mexico: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 12. Mexico: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 13. Europe: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 14. Europe: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 15. Europe: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 16. France: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 17. France: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 18. Germany: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 19. Germany: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 20. Italy: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 21. Italy: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 22. UK: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 23. UK: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 24. Russia: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 25. Russia: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 26. Rest of Europe: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 27. Rest of Europe: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 28. APAC: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 29. APAC: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 30. APAC: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 31. China: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 32. China: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 33. Japan: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 34. Japan: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 35. India: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 36. India: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 37. South Korea: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 38. South Korea: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 39. Australia: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 40. Australia: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 41. Rest of APAC: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 42. Rest of APAC: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 43. MEA: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 44. MEA: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 45. MEA: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 46. South Africa: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 47. South Africa: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 48. UAE: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 49. UAE: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 50. Saudi Arabia: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 51. Saudi Arabia: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 52. Rest of MEA: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 53. Rest of MEA: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 54. SAM: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 55. SAM: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 56. SAM: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 57. Brazil: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 58. Brazil: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 59. Argentina: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 60. Argentina: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 61. Rest of SAM: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 62. Rest of SAM: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 63. List of Abbreviation

LIST OF FIGURES

Figure 1. Forklift Battery Market Segmentation

Figure 2. Forklift Battery Market Segmentation – By Geography

Figure 3. Global Forklift Battery Market Overview

Figure 4. Forklift Battery Market, By Type

Figure 5. Forklift Battery Market, By Application

Figure 6. Forklift Battery Market, By Geography

Figure 7. North America PEST Analysis

Figure 8. Europe PEST Analysis

Figure 9. APAC – PEST Analysis

Figure 10. MEA PEST Analysis

Figure 11. SAM PEST Analysis

Figure 12. Forklift Battery Market- Ecosystem Analysis

Figure 13. Forklift battery Market Impact Analysis of Drivers and Restraints

Figure 14. Geographic Overview of Forklift Battery Market

Figure 15. Global Forklift battery Market Revenue Forecast and Analysis (US$ Million)

Figure 16. Global Forklift battery Market Breakdown by Type, 2020 & 2028 (%)

Figure 17. Global Lithium-Ion Market Revenue and Forecasts to 2028 (US$ Million)

Figure 18. Global Lead–Acid Market Revenue and Forecasts to 2028 (US$ Million)

Figure 19. Global others Market Revenue and Forecasts to 2028 (US$ Million)

Figure 20. Global Forklift battery Market Breakdown by Application, 2020 & 2028 (%)

Figure 21. Global warehouses Market Revenue and Forecasts to 2028 (US$ Million)

Figure 22. Global Construction Market Revenue and Forecasts to 2028 (US$ Million)

Figure 23. Global Manufacturing Market Revenue and Forecasts to 2028 (US$ Million)

Figure 24. Global Retail and Wholesale Stores Market Revenue and Forecasts to 2028 (US$ Million)

Figure 25. Global Cooling Towers Market Revenue and Forecasts to 2028 (US$ Million)

Figure 26. Global Forklift battery Market Revenue Share, By Region (2020 and 2028)

Figure 27. North America: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. North America: Forklift Battery Market Revenue Share, by Type (2020 and 2028)

Figure 29. North America: Forklift Battery Market Revenue Share, by Application (2020 and 2028)

Figure 30. North America: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 31. US: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32. Canada: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33. Mexico: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34. Europe: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35. Europe: Forklift Battery Market Revenue Share, by Type (2020 and 2028)

Figure 36. Europe: Forklift Battery Market Revenue Share, by Application (2020 and 2028)

Figure 37. Europe: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 38. France: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 39. Germany: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 40. Italy: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 41. UK: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 42. Russia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 43. Rest of Europe: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 44. APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 45. APAC: Forklift Battery Market Revenue Share, by Type (2020 and 2028)

Figure 46. APAC: Forklift Battery Market Revenue Share, by Application (2020 and 2028)

Figure 47. APAC: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 48. China: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 49. Japan: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 50. India: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 51. South Korea: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 52. Australia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 53. Rest of APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 54. MEA: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 55. MEA: Forklift Battery Market Revenue Share, by Type (2020 and 2028)

Figure 56. MEA: Forklift Battery Market Revenue Share, by Application (2020 and 2028)

Figure 57. MEA: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 58. South Africa: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 59. UAE: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 60. Saudi Arabia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 61. Rest of MEA: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 62. SAM: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 63. SAM: Forklift Battery Market Revenue Share, by Type (2020 and 2028)

Figure 64. SAM: Forklift Battery Market Revenue Share, by Application (2020 and 2028)

Figure 65. SAM: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 66. Brazil: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 67. Argentina: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 68. Rest of SAM: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 69. Impact of COVID-19 Pandemic in North American Country Markets

Figure 70. Impact of COVID-19 Pandemic in Europe Country Markets

Figure 71. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Figure 72. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets

Figure 73. Impact of COVID-19 Pandemic in South America Country Markets

The List of Companies - Forklift Battery Market

  1. Accumulatorenwerke Hoppecke Carl Zoellner And Sohn Gmbh
  2. Crown Equipment Corporation
  3. ForeverPure Corporation
  4. Exide Industries Limited
  5. EnerSys
  6. OneCharge
  7. Saft Groupe SA
  8. Storage Battery Systems, LLC
  9. East Penn Manufacturing Company
  10. Microtex Energy Private Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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