Forklift Batteries Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players EnerSys, Triathlon Batterien GmbH, GS Yuasa

The Global Forklift Batteries Market size was valued at $6.3 billion in 2021 and is projected to reach $8.4 billion by, growing at a CAGR of 9.04% from 2022 to 2027.

Forklift Batteries Market Overview

Batteries that provide power supply to forklift trucks or are used in forklift trucks are usually known as forklift batteries. They need high power and energy thickness. Generally, lead-acid and lithium-ion batteries are used in the forklift trucks as per suitability during the use in material handling processes. Lead-acid batteries come with a mixture of electrolyte, water, and sulfuric acid; on the other hand, lithium-ion batteries are waterless, which makes them maintenance-free.

The global forklift battery market is operating in the growth stage in its industry life cycle and considering its growth trajectory, it is expected to continue to grow in a similar phase during the forecast period. Increasing industrial output across the glove is the key factor driving the global forklift battery market growth.

Recent Development

ENERSYS ANNOUNCES $150 MILLION STOCK REPURCHASE AUTHORIZATION

March 09, 2022

the global leader in stored energy solutions for industrial applications, announced today that its Board of Directors has established a new $150 million stock repurchase authorization with no expiration date. This new authorization brings the Company’s total outstanding repurchase authorization to an aggregate of $181 million, including $31 million available under the Board’s previous repurchase authorization approved on November 4, 2021. In fiscal year 2022 to date, the Company has repurchased $159 million in shares.

The Company estimates an additional $30 million to become available on April 1, 2022, as part of its evergreen stock buyback authorization designed to offset dilution related to its equity-based award program. The Company estimates its total outstanding share repurchase authorization to be an aggregate $210 million, on a pro forma basis.

Who are the Major Players in the Forklift Battery Market?

The Forklift Batteries Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes: EnerSys, Triathlon Batterien GmbH, GS Yuasa, Hoppecke, East Penn Manufacturing, Hitachi Chemical, SYSTEMS SUNLIGHT, Exide Technologies, ECOBAT Battery Technologies, MIDAC, Saft, Flux Power Holdings, Inc, Electrovaya, Crown Battery, BAE Batterien, Storage Battery Systems, LLC, Tianneng Battery Group, Banner Batteries, Amara Raja, FAAM, BSLBATT, Western Electrical Co, Zibo Torch Energy, Shandong Sacred Sun Power Sources Co, LEOCH, Camel Group and Others.

What are the major Applications, Types and Regions for Forklift Batteries Market?

By Type, it is segmented into

• Lead-Acid Battery


• Li-Ion Battery


• Others

By Applications, it is segmented into

• Warehouses


• Factories


• Distribution Centers


• Others

Forklift Batteries Market Regional Analysis

By region, Asia-Pacific acquired the largest market share owing to the increase in industrial output, and the rise in urbanization. Factors that have an indirect impact on the growth of forklift batteries in Asia-Pacific are drastic population rise, rapid urbanization, and expansion in nature of major industries such as construction, food processing, electronics, furniture, and most importantly consumer goods. Due to the rise in population, there is a growth in need for construction projects, food, consumer products, furniture, and a range of other products that depend on material transporting forklifts trucks for transportation. Therefore, the demand for batteries used in forklifts is also high in this region.          

•  North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Forklift Batteries Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Forklift Batteries Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Forklift Batteries Market Report Scope?

Scope of the Report covers Forklift Batteries Market with detailed analysis of the overall scenario for the market. It also highlights the business participants environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Forklift Batteries Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how worldwide market is working through efficient information graphics.

Key Takeaways from this Forklift Batteries Report

• Evaluate Forklift Batteries market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Forklift Batteries market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.