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Global Forklift Battery Industry Report 2023: Market Trends, Share, Size, Growth, Opportunity And Forecasts, 2022 And 2023-2028 -

By Business Wire

Business Wire
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DUBLIN--(BUSINESS WIRE)--The "Forklift Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to's offering.

The global forklift battery market size reached US$ 4.7 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 6.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Significant growth in the manufacturing and construction industries is among the key factors creating a positive outlook for the market. With the proliferation of e-commerce platforms, there is an increasing requirement for material movement, transporting and lifting applications, which is providing a thrust to the market growth.

Moreover, the widespread adoption of electric forklifts across industries is also favoring the growth of the market. Additionally, various product innovations, such as the development of quick battery charging systems for minimal downtime and longer operational life of the forklifts', are acting as other growth-inducing factors. In line with this, the utilization of forklift batteries for domestic applications is also contributing to the market growth.

Lead-acid batteries are highly recyclable and can be used for powering off-grid energy and solar power systems. Other factors, including the widespread adoption of green logistics, along with the implementation of favorable government policies promoting sustainable infrastructural development, are anticipated to drive the market toward growth.

Key Questions Answered in This Report

  • What was the size of the global forklift battery market in 2022?
  • What is the expected growth rate of the global forklift battery market during 2023-2028?
  • What are the key factors driving the global forklift battery market?
  • What has been the impact of COVID-19 on the global forklift battery market?
  • What is the breakup of the global forklift battery market based on the type?
  • What is the breakup of the global forklift battery market based on the application?
  • What are the key regions in the global forklift battery market?
  • Who are the key players/companies in the global forklift battery market?

Key Attributes:

Report Attribute Details
No. of Pages 143
Forecast Period 2022 - 2028
Estimated Market Value (USD) in 2022 $4.7 Billion
Forecasted Market Value (USD) by 2028 $6.5 Billion
Compound Annual Growth Rate 5.6%
Regions Covered Global

Competitive Landscape:

  • Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
  • Amara Raja Batteries Ltd.
  • Camel Group Co. Ltd.
  • Crown Equipment Corporation
  • East Penn Manufacturing Company
  • Enersys
  • Exide Industries Limited
  • Flux Power
  • Microtex Energy Private Limited
  • Northland Industrial Truck Co. Inc. (Alta Enterprises LLC)
  • Storage Battery Systems LLC and Systems Sunlight S.A

Key Market Segmentation:

Breakup by Type:

  • Lithium-ion Battery
  • Lead-Acid Battery
  • Others

Breakup by Sales Channel:

  • OEM
  • Aftermarket

Breakup by Application:

  • Warehouses
  • Manufacturing
  • Construction
  • Retail and Wholesale Stores
  • Others

Breakup by Region:

North America

  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others


  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa

For more information about this report visit

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First published on Tue, Jan 2, 2024

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