U.S. Forklift Battery Market 2023 Analytical Assessment, Key Drivers, Growth, and Opportunities to 2030

U.S. Forklift Battery Market to Witness Huge Growth by 2030 – Bulldog Battery Corp, Crown Equipment Corp, etc.

WILMINGTON, DELAWARE, UNITED STATES, May 2, 2024 /EINPresswire.com/ -- The emergence of fuel cell forklifts as an alternative to the electric forklift along with an increase in investment toward public and private sectors to maintain the lead in the hydrogen economy are expected to be the key trends in the U.S. forklift battery market. The U.S. forklift battery market size was valued at $810.5 million in 2020 and is projected to reach $1,785.3 million by 2030, growing at a CAGR of 8.5% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/7888

A forklift battery is used to power electric forklifts for proper material handling in various applications, including warehouses, manufacturing, construction, and others. Forklift batteries are classified based on type, including lithium-ion, lead-acid, fuel cell, absorbed glass mat, and others. In the above-mentioned industries, there is a need of material handling equipment for loading and unloading of materials & products, which is fulfilled with the help of electric forklifts.

The emergence of fuel cell forklifts as an alternative to the electric forklift is the key factor driving the growth of the U.S. forklift battery market in the upcoming years. In addition, expanding warehouse spaces & the manufacturing industry is projected to fuel the growth of the forklift battery market in the U.S. However, the high initial cost associated with lithium-ion batteries is expected to hamper the growth of the U.S. forklift battery market in the upcoming years. Conversely, growth in penetration of green logistics is the key factor expected to create opportunity in the U.S. forklift battery market from 2021 to 2030.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The U.S. Forklift Battery industry's key market players adopt various strategies such as product launch, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐔.𝐒. 𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

ENERSYS, GREEN CUBES TECHNOLOGY
TOTAL SE
ELECTROVAYA INC
FOREVERPURE CORPORATION
ONECHARGE
CROWN EQUIPMENT CORPORATION
EAST PENN MANUFACTURING COMPANY
EXIDE TECHNOLOGIES
FLUX POWER HOLDINGS INC.
STORAGE BATTERY SYSTEMS LLC
BULLDOG BATTERY CORPORATION

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/7888

Depending on the type, the lead acid battery segment held the highest market share of around 77.7% in 2020 and is expected to maintain its dominance during the forecast period. This is owing to a rise in demand for material handling equipment from manufacturing processes, warehouses, construction, retail & wholesale, and others. Moreover, lead acid batteries possess high load-bearing capacity and high discharge rate, which in turn act as the driving factors in the growth of the lead acid forklift battery market in the U.S.

Based on battery capacity, the 0-600 Ahr segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to an increase in demand for lightweight forklifts from various applications such as retail, wholesale, and other light load applications is expected to drive the growth of the U.S. forklift battery market during the forecast period. In addition, there is a rise in the use of electric motor rider trucks, narrow aisle trucks, hand trucks, and other light-capacity forklifts, which in turn increases the demand for forklift batteries with capacities ranging from 0 to 600 Ahr.

Based on application, the warehouses segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 9.1%. This is owing to an increase in demand for material handling equipment from warehouses for loading, unloading, and handling of materials or products in various industries. Technological advancements and their incorporation in warehouse material management is another factor that fuels the growth of this segment.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/7888

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬:

- In 2020, the lead acid battery segment accounted for the majority of the share of the U.S. forklift battery market and is expected to maintain its lead throughout the forecast period.
- In 2020, the lead acid battery segment accounted for around 77.71% of the share in the U.S. forklift battery market and is expected to maintain its dominance till the end of the forecast period.
- In 2020, the 0-600 Ahr battery capacity segment accounted for 62.96% market share 2020 and is anticipated to grow at a rate of 64.02% in terms of revenue, increasing its share in the U.S. forklift battery market.
- Warehouses is the fastest-growing segment in the U.S. forklift battery market, expected to grow at a CAGR of 9.1% during 2021–2030.
- In 2020, warehouses dominated the U.S. forklift battery market with more than 29.36% of the share, in terms of revenue

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐒𝐨𝐥𝐢𝐝 𝐒𝐭𝐚𝐭𝐞 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/solid-state-battery-market-to-reach-3-4-bn-globally-by-2030-at-18-0-cagr-allied-market-research-301537017.html

𝟐. 𝐋𝐢𝐭𝐡𝐢𝐮𝐦-𝐈𝐨𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐅𝐨𝐫 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2023/09/21/2747592/0/en/Lithium-Ion-Battery-For-Consumer-Electronics-Market-to-Reach-18-8-Billion-Globally-by-2032-at-14-5-CAGR-Allied-Market-Research.html

𝟑. 𝐆𝐫𝐢𝐝 𝐒𝐜𝐚𝐥𝐞 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/grid-scale-battery-market-to-reach-31-0-billion-globally-by-2032-at-18-2-cagr-allied-market-research-301934998.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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