The Europe forklift battery market size is expected to reach US$ 2,364.8 million by 2031 from US$ 1,575.8 million in 2024. The market is estimated to register a CAGR of 6.1% during 2025–2031. The incorporation of battery-as-a-service in forklifts is expected to emerge as a significant trend in the market in the coming years.
Europe Forklift Battery Market Analysis
With the rise in automation and digital transformation across European industries, the need for smart battery solutions will continue to grow in the coming years. The e-commerce industry is flourishing in Europe owing to increased internet and smartphone penetration, evolving consumer preferences, and technological advancements. Moreover, cross-border e-commerce is on the rise as consumers seek unique products with competitive pricing internationally. According to Eurostat, in the EU, the share of companies that adopted e-sales strategy increased from 17.21% in 2013 to 23.83% in 2023. Many e-commerce companies are opening warehouses in Europe.
Europe Forklift Battery Market Overview
A forklift battery can serve as a power source in the operation of forklifts and other industrial trucks, providing the energy needed for material handling operations. Forklifts typically use lead-acid or lithium-ion (Li-ion) batteries, with the latter being more popular due to its faster charging capabilities, longer lifespan, and reduced environmental impact, among other benefits. The demand for forklift batteries has grown significantly with the increased popularity of electric-powered forklifts, which are favored for their sustainability, lower maintenance needs, and cost-effectiveness compared to traditional internal combustion engine (ICE) forklifts. European industries are known for their emphasis on greener solutions to reduce their carbon footprints, which adds to the demand for electric forklifts. Forklift batteries play a pivotal role in material handling and transportation operations in the logistics, warehousing, and manufacturing sectors. In addition to the burgeoning adoption of electric forklifts, the rise of automation in warehouses in various industrial sectors bolsters the market in the region.
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Europe Forklift Battery Market: Strategic Insights
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Europe Forklift Battery Market Drivers and Opportunities
Expansion of Warehousing and E-Commerce
The rapid growth of e-commerce has led to an increased demand for efficient and clean material handling solutions in warehouses. Companies such as Amazon and DHL are responding by deploying fleets of battery-powered forklifts to enhance operational efficiency and reduce environmental impact. For example, in March 2022, DHL Supply Chain introduced its newest range of autonomous forklifts in Mainland Europe; these pallet movers were the latest addition to its multiuser warehouse in Bornem, Belgium. This installation of autonomous indoor robotic transporters for indoor pallet movement was a part of the company’s Accelerated Digitalization strategy. Thus, a surge in online shopping is reshaping the logistics landscape, prompting companies to invest in automated warehouses and battery-powered forklifts. This shift has a direct impact on the demand for efficient and durable forklift batteries, especially lithium-ion and lead-acid types, to support around-the-clock operations.
Developments in Fast and Opportunity Charging Features
As electric forklifts become more widely used across Europe, there is a growing focus on advanced charging solutions, such as fast charging and opportunity charging. These methods prove valuable for businesses with multi-shift operations owing to their ability to reduce downtime and improve efficiency. Traditionally, forklift batteries follow a conventional charging cycle, which includes 8 hours of operation, 8 hours of charging, and another 8 hours of cooling. This cycle limits battery availability and often requires companies to purchase additional batteries to keep operations running over multiple shifts, increasing both cost and storage needs. Fast and opportunity charging methods address this challenge by allowing forklift operators to plug in during short breaks, meal times, or overnight hours. This helps maintain the battery charge in the range of 40–80%, keeping forklifts available for use throughout the day. To maintain battery health and ensure peak performance, it is still important to perform a weekly equalization charge, which brings the battery to a full 100% charge and helps prevent sulfate buildup. As more companies look to improve uptime and reduce operational costs, demand for batteries and charging systems compatible with these methods is expected to grow. Thus, a shift toward fast and opportunity charging presents a significant growth opportunity for the Europe forklift battery market
Europe Forklift Battery Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Europe forklift battery market analysis are type, capacity, and application.
- In terms of type, the market is categorized into lithium-ion, lead acid, and others. The lead-acid segment dominated the market in 2024.
- By capacity, the market is categorized into 0–600 Ahr, 600–1,200 Ahr, and more than 1,200 Ahr. The 0–600 Ahr segment held the largest share of the Europe forklift battery market in 2024.
- Based on application, the market is divided into warehouses and logistics, construction, manufacturing, retail and wholesale stores, automotive, and others. The manufacturing segment dominated the market in 2024.
Europe Forklift Battery Market Share Analysis by Geography
The Europe forklift battery market is segmented into six major countries: Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany accounted for the largest Europe forklift battery market share in 2024, followed by the Rest of Europe and the UK.
Economically strong countries such as Germany, France, Italy, and the UK have been significantly implementing advanced solutions. Western European countries are more advanced than the Nordic and Eastern European countries, which is a key factor contributing to the high adoption of technological solutions across all industries in the western part of Europe. Automotive, pharmaceutical, e-commerce, and food and beverages processing industries are the largest end-use industries for forklift batteries in Europe. In March 2024, the European Commission welcomed the political agreement by the European Parliament and the Council of the EU on the on-road approval and market surveillance of non-road mobile machinery. The new rules will facilitate the use of mobile machinery, including cranes, harvesters, forklifts, or snow cleaners, on public roads. These new rules will not only enhance the flexibility and efficiency of mobile machinery but also encourage the use of more sustainable equipment, including electric forklifts. By allowing these machines to operate on public roads, the EU is facilitating better integration of electric machinery into logistics and transportation networks, which will likely increase demand for electric forklifts and their corresponding battery systems.
International market players having presence in Europe are launching attractive battery solutions. For example, in March 2025, at LogiMAT 2025, Bobcat announced the launch of its new Li-ION battery range, available in various capacity options. The new range features high-quality battery technology with greater reliability, and it shows installation compatibility with each series. With a 2–3 times longer lifespan than lead-acid batteries as well as fast, efficient charging capability, Li-ion power can maintain an uninterrupted workflow with flexibility. In January 2024, Baoli, the forklift truck manufacturer that is part of the KION Group, introduced the KBE 18-20 Li electric forklift series, offering the most progressive and advanced lithium-ion battery technology. This newest addition to the product range provides a significant improvement in terms of efficiency and productivity for the company's customers in the material handling industry.
Europe Forklift Battery Market Report Scope
Europe Forklift Battery Market News and Recent Developments
The Europe forklift battery market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the market are listed below:
- Amara Raja Energy & Mobility (ARE&M), India’s leading battery manufacturer, has made an investment of EUR 20 million, which includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With this investment, Amara Raja Energy & Mobility Limited's total holding will reach around 9.32% of its equity stake in InoBat AS, including its previous investment of EUR 10 million. [Source: Amara Raja Energy & Mobility (ARE&M), Press Release, June 2024]
- East Penn Manufacturing Co. is launching the NEW Deka Ready Power product family at the ProMat 2025 show in Chicago, Illinois. The Deka Ready Power family of batteries supports the ever-growing need for maintenance-free products for Motive Power applications by offering both lithium and gel technologies, providing best-in-class value and the lowest total cost of ownership. (Source: East Penn Manufacturing Co, Press Release, March 2025)
Europe Forklift Battery Market Report Coverage and Deliverables
The "Europe Forklift Battery Market Size and Forecast (2025–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Europe forklift battery market growth and forecast at regional and country levels for all the key market segments covered under the scope
- Europe forklift battery market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Europe forklift battery market analysis covering key market trends, regional and country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Europe forklift battery market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Incorporation of Battery-as-a-Service in Forklifts
The Europe forklift battery market was valued at US$ 1575.80 million in 2024; it is expected to register a CAGR of 6.1% during 2025–2031.
The Europe forklift battery market is expected to reach US$ 2364.80 million by 2031.
The key players operating in the Europe forklift battery market include Contemporary Amperex Technology Co Ltd; EnerSys; Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH; TotalEnergies SE; Exide Industries Ltd; Amara Raja Energy & Mobility Ltd; GS Yuasa Corp; leoch International Technology Limited Inc; TAB d.d.; East Penn Manufacturing Company; and BSL NEW ENERGY THCHENOLOGY CO., LTD.
1. Expansion of Warehousing and E-Commerce
2. Growth of Industrialization
3. Shift Toward Electric Forklift
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Analyst Market Outlook
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Europe Forklift Battery Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
4.3.1 List of Vendors in Value Chain
4.4 ESG Analysis
4.4.1 Environmental Impact:
4.4.2 Social Considerations:
4.4.3 Governance and Regulatory Landscape:
4.4.4 Conclusion:
4.5 Traction Battery Cells Volume Analysis for Electric Vehicles
4.6 Price Analysis
4.7 Import and Export Analysis
4.7.1 Lead Acid Import and Export Analysis
4.7.2 Lithium Ion Import and Export Analysis
5. Europe Forklift Battery Market – Key Market Dynamics
5.1 Europe Forklift Battery Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Expansion of Warehousing and E-Commerce
5.2.2 Growth of Industrialization
5.2.3 Shift Toward Electric Forklift
5.3 Market Restraints
5.3.1 Safety and Operational Challenges
5.4 Market Opportunities
5.4.1 Developments in Fast and Opportunity Charging Features
5.4.2 Developments in Fast and Opportunity Charging Features
5.5 Future Trends
5.5.1 Incorporation of Battery-as-a-Service in Forklifts
5.6 Impact of Drivers and Restraints:
6. Europe Forklift Battery Market Analysis
6.1 Europe Forklift Battery Market Revenue (US$ Million), 2021–2031
6.2 Europe Forklift Battery Market Forecast and Analysis
7. Europe Forklift Battery Market Analysis – by Type
7.1 Lithium Ion
7.1.1 Overview
7.1.2 Lithium Ion: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Lead Acid
7.2.1 Overview
7.2.2 Lead Acid: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Others
7.3.1 Overview
7.3.2 Others: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
8. Europe Forklift Battery Market Analysis – by Capacity
8.1 0-600Ahr
8.1.1 Overview
8.1.2 0-600Ahr: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
8.2-1200 Ahr
8.2.1 Overview
8.2.2-1200 Ahr: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Above 1200 Ahr
8.3.1 Overview
8.3.2 Above 1200 Ahr: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9. Europe Forklift Battery Market Analysis – by Application
9.1 Manufacturing
9.1.1 Overview
9.1.2 Manufacturing: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Construction
9.2.1 Overview
9.2.2 Construction: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Warehouse and Logistics
9.3.1 Overview
9.3.2 Warehouse and Logistics: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Retail and Wholesale Stores
9.5.1 Overview
9.5.2 Retail and Wholesale Stores: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10. Europe Forklift Battery Market – Country Analysis
10.1 Europe
10.1.1 Europe Forklift Battery Market Breakdown by Countries
10.1.2 Europe Forklift Battery Market Revenue and Forecast and Analysis – by Country
10.1.2.1 Europe Forklift Battery Market Revenue and Forecast and Analysis – by Country
10.1.2.2 Germany: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.2.1 Germany: Europe Forklift Battery Market Breakdown by Type
10.1.2.2.2 Germany: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.2.3 Germany: Europe Forklift Battery Market Breakdown by Application
10.1.2.3 France: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.3.1 France: Europe Forklift Battery Market Breakdown by Type
10.1.2.3.2 France: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.3.3 France: Europe Forklift Battery Market Breakdown by Application
10.1.2.4 United Kingdom: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.4.1 United Kingdom: Europe Forklift Battery Market Breakdown by Type
10.1.2.4.2 United Kingdom: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.4.3 United Kingdom: Europe Forklift Battery Market Breakdown by Application
10.1.2.5 Italy: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.5.1 Italy: Europe Forklift Battery Market Breakdown by Type
10.1.2.5.2 Italy: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.5.3 Italy: Europe Forklift Battery Market Breakdown by Application
10.1.2.6 Spain: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.6.1 Spain: Europe Forklift Battery Market Breakdown by Type
10.1.2.6.2 Spain: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.6.3 Spain: Europe Forklift Battery Market Breakdown by Application
10.1.2.7 Rest of Europe: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.7.1 Rest of Europe: Europe Forklift Battery Market Breakdown by Type
10.1.2.7.2 Rest of Europe: Europe Forklift Battery Market Breakdown by Capacity
10.1.2.7.3 Rest of Europe: Europe Forklift Battery Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 Product Development
13. Company Profiles
13.1 EnerSys
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 TotalEnergies SE
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Exide Industries Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Amara Raja Energy & Mobility Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Contemporary Amperex Technology Co Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 GS Yuasa Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 leoch International Technology Limited Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TAB d.d.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 East Penn Manufacturing Company
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 BSL NEW ENERGY THCHENOLOGY CO., LTD
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. Europe Forklift Battery Market Segmentation
Table 2. List of Vendors
Table 3. Traction Battery Cells Volume Analysis for Electric Vehicles, 2019-2023 (in billion Units)
Table 4. Europe Forklift Battery Market – Revenue, 2021 -2024 (US$ Million)
Table 5. Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million)
Table 6. Europe Forklift Battery Market – Revenue, 2021 - 2024 (US$ Million) – By Type
Table 7. Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – By Type
Table 8. Europe Forklift Battery Market – Revenue, 2021 - 2024 (US$ Million) – By Capacity
Table 9. Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – By Capacity
Table 10. Europe Forklift Battery Market – Revenue, 2021 - 2024 (US$ Million) – By Application
Table 11. Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – By Application
Table 12. Europe Forklift Battery Market – Revenue, 2021 - 2024 (US$ Million) – by Country
Table 13. Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Country
Table 14. Germany: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 15. Germany: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 16. Germany: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 17. Germany: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 18. Germany: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 19. Germany: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 20. France: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 21. France: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 22. France: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 23. France: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 24. France: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 25. France: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 26. United Kingdom: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 27. United Kingdom: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 28. United Kingdom: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 29. United Kingdom: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 30. United Kingdom: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 31. United Kingdom: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 32. Italy: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 33. Italy: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 34. Italy: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 35. Italy: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 36. Italy: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 37. Italy: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 38. Spain: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 39. Spain: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 40. Spain: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 41. Spain: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 42. Spain: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 43. Spain: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 44. Rest of Europe: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Type
Table 45. Rest of Europe: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Type
Table 46. Rest of Europe: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Capacity
Table 47. Rest of Europe: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Capacity
Table 48. Rest of Europe: Europe Forklift Battery Market – Revenue, 2021 -2031 (US$ Million) – by Application
Table 49. Rest of Europe: Europe Forklift Battery Market – Revenue, 2025 - 2031 (US$ Million) – by Application
Table 50. Heat Map Analysis by Key Players
List of Figures
Figure 1. Europe Forklift Battery Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Price Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Forklift Battery Market Revenue (US$ Million), 2021–2031
Figure 6. Europe Forklift Battery Market Share (%) – by Type, 2024 and 2031
Figure 7. Lithium Ion: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Lead Acid: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Others: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 10. Europe Forklift Battery Market Share (%) – by Capacity, 2024 and 2031
Figure 11. 0-600Ahr: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 12.-1200 Ahr: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. Above 1200 Ahr: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. Europe Forklift Battery Market Share (%) – by Application, 2024 and 2031
Figure 15. Manufacturing: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 16. Construction: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 17. Warehouse and Logistics: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 18. Automotive: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 19. Retail and Wholesale Stores: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Others: Europe Forklift Battery Market– Revenue and Forecast to 2031 (US$ Million)
Figure 21. Europe Forklift Battery Market Breakdown by Key Countries, 2024 and 2031 (%)
Figure 22. Germany: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. France: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. United Kingdom: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Italy: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Spain: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Rest of Europe: Europe Forklift Battery Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Company Positioning and Concentration
The List of Companies - Europe Forklift Battery Market
- Contemporary Amperex Technology Co Ltd
- EnerSys
- Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
- TotalEnergies SE
- Exide Industries Ltd
- Amara Raja Energy & Mobility Ltd
- GS Yuasa Corp
- leoch International Technology Limited Inc
- TAB d.d.
- East Penn Manufacturing Company
- BSL NEW ENERGY THCHENOLOGY CO., LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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