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U.S. Forklift Battery Market Was Valued at $822.2 Million in 2019 | Projected To Reach $1,306.6 Million by 2027 | Growing At a CAGR of 7.1% from 2020 to 2027

U.S. Forklift Battery Market Was Valued at $822.2 Million in 2019 | Projected To Reach $1,306.6 Million by 2027 | Growing At a CAGR of 7.1% from 2020 to 2027

 

Published Via “Big Market Research” An informative study on the Global U.S. Forklift Battery Market Report from 2021-2027 has released recently from our database that helps by making business conclusions and shape the future of the organizations. The key attributes of interest of the U.S. Forklift Battery Market report includes gross margin study, price, trends, production, revenue analysis, Top key Players, Type, Application, Marketing Channel, and Regions wise analysis. The opportunities, growth, and market risks are analyzed in-depth in U.S. Forklift Battery Market report. It also tracks the latest market dynamics, such as driving factors, restraining factors, and industry news like mergers, acquisitions, and investments.

The U.S. Forklift Battery Market was valued at $822.2 million in 2019, and is projected to reach $1,306.6 million by 2027, growing at a CAGR of 7.1% from 2020 to 2027.

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Electric forklift is the material handling equipment used to load, unload, and move the products or materials sizing from low to heavy capacity. It is widely used in the industries such as warehousing, manufacturing, construction, transportation, and others. It needs energy storage systems/batteries to lift up the load and its movement. Forklift battery is the key component used in the electric forklifts for the above-mentioned purposes. Electric forklift offers benefits such as less cost than other conventional forklifts, environmentally friendly, and others.

Emergence of fuel cell forklifts as an alternative to the electric forklift along with increase in investment toward public and private sectors to maintain the lead in hydrogen economy is expected to drive the growth of the market in the upcoming years. Moreover, growth in the manufacturing and retail & wholesale sectors in the U.S. needs to expand space in warehouses for their product storages. Thus, for the loading, unloading, and material handling there is need of electric forklift, which in turn drives the forklift battery market growth in the U.S. Moreover, growth in awareness toward minimizing environmental pollution and rapid growth in the green logistics is expected to create opportunity in the U.S. forklift battery market during the forecast period.

The U.S. forklift battery market is segmented into type, capacity, and application. Depending on type, the market is categorized into lithium-ion battery, lead acid battery, fuel cell battery, and others. On the basis of capacity, it is bifurcated into 0-600 Ahr, 600-1200 Ahr, and above 1200 Ahr. The applications covered in the study include warehouses, manufacturing, construction, retail & wholesale stores, and others.

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KEY BENEFITS FOR STAKEHOLDERS

The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.

A comprehensive analysis of the factors that drive and restrict the growth of the U.S. forklift battery market is provided.

Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.

Estimations and forecast are based on factors impacting the U.S. forklift battery market growth, in terms of value.

The key market players are profiled to gain an understanding of the strategies adopted by them.

This report provides a detailed analysis of the current trends and future estimations from 2020 to 2027, which help to identify the prevailing market opportunities.

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KEY MARKET SEGMENTS

By Type

  • Lithium-Ion Battery
  • Lead Acid Battery
  • Fuel Cell Battery
  • Others

By Capacity

  • 0-600 Ahr
  • 600-1200 Ahr
  • Above 1200 Ahr

By Application

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

KEY MARKET PLAYERS

  • Crown Equipment Corporation
  • East Penn Manufacturing Company
  • Enersys
  • Storage Battery Systems, LLC
  • Exide Technologies
  • Flux Power Holdings, Inc.
  • Total SE
  • Bulldog Battery Corporation
  • OneCharge
  • ForeverPure Corporation

Other players operating in the value chain of the U.S. forklift battery market are NITCO, American Battery Company, Power Battery Company, Inc., Dyno Battery, Inc., Union Battery Corporation, and others.

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