Because of a massive number of COVID-19 cases in China and India, Asia-Pacific experienced massive impact of the COVID-19 pandemic. According to the Organization for Economic Co-operation and Development (OECD), the pandemic also affected other major economies outside China, such as South Korea, Australia, and Japan. China is one of the leading manufacturing countries in the region, and initially, it was the most affected country in Asia-Pacific. Owing to this, manufacturing facilities witnessed severe conditions and reported low production volumes in 2020. The limited workforce allowed in each of the production facilities resulted in the deceleration of operational activities, which limited the use of forklift trucks in plants and warehouses. Nevertheless, since May 2020, the Chinese manufacturing facilities started operating with a larger workforce, Japan and India are the other two critical countries in the forklift battery market. As China, Japan, Taiwan, and South Korea are known for a strong base of manufacturing units, the adoption of forklift batteries decreased due to the temporary discontinuation of manufacturing plants. However, with businesses resuming their operations, the demand for forklift trucks, and hence, forklift batteries is surging gradually.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,969.78 Million |
| Market Size by 2028 | US$ 3,390.66 Million |
| CAGR (2021 - 2028) | 8.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Forklift Battery Market is valued at US$ 1,969.78 Million in 2021, it is projected to reach US$ 3,390.66 Million by 2028.
As per our report Asia Pacific Forklift Battery Market, the market size is valued at US$ 1,969.78 Million in 2021, projecting it to reach US$ 3,390.66 Million by 2028. This translates to a CAGR of approximately 8.1% during the forecast period.
The Asia Pacific Forklift Battery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Forklift Battery Market report:
The Asia Pacific Forklift Battery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Forklift Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Forklift Battery Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia Pacific Forklift Battery Market
