South America Forklift Battery Market Analysis and Opportunities by 2028

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

South 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 : TIPRE00027784

Category : Electronics and Semiconductor
Status : Published

Available Report Formats :
No. of Pages : 87

Page Updated: Mar 2022

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

The forklift battery market in South America is expected to grow from US$ 177.25 million in 2021 to US$ 255.27 million by 2028; it is estimated to grow at a CAGR of 5.3% 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 South America forklift battery market in the upcoming years.In South America, Brazil has reported the highest number of COVID-19 cases, followed by Ecuador, Peru, Chile, and Argentina. The continuous growth in the number of patients compelled governments to put a bar on the transportation of humans and goods in 2020. 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 put limitations on the operations of logistics and other service providers. This disruption resulted in a decline in material handling jobs. Due to the disruption of the supply chains of major manufacturing industries, the need for goods handling at plants and warehouses also decreased. On the contrary, due to the continued operations of essential goods such as food & beverages, pharmaceuticals, and healthcare equipment, the demand for material stacking and inter-logistics handling work continued to spur, which contributed to the persistent adoption of forklift trucks, thereby contributing to the forklift battery market growth in South America. Moreover, irrespective of disruptions caused by the COVID-19 pandemic, many businesses resumed their operations in late 2020, which is further likely to boost the demand for forklift trucks and forklift batteries in this region in the coming years.

South 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.

South America Forklift Battery Market Segmentation

South America Forklift Battery Market – By Type

Lithium ion
Lead–Acid
Others

South America Forklift Battery Market – By Application

Warehouses
Construction
Manufacturing
Retail and Wholesale Stores
Others

South America Forklift Battery Market– By Country

Brazil
Argentina
Rest of South America

South 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
Saft Groupe SA

South America Forklift Battery Report Scope

Report Attribute	Details
Market size in 2021	US$ 177.25 Million
Market Size by 2028	US$ 255.27 Million
Global CAGR (2021 - 2028)	5.3%
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	South and Central America Brazil Argentina Rest of South and Central America
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 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 South 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

South America Forklift Battery Market Report Snapshots

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