Asia Pacific Forklift Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Lithium-Ion, Lead Acid, and Others) and Application (Warehouses, Construction, Manufacturing, Retail and Wholesale Stores, and Others)

The forklift battery market in Asia-Pacific is expected to grow from US$ 1,969.78 million in 2021 to US$ 3,390.66 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028.

Technological innovation in forklift trucks such as quick battery charging may reduce the downtime of forklift trucks and can improve the overall operational efficiency at material handling and warehouses. The fast charging technology can enable the material handling centers to charge battery at its desired level so that forklift trucks can operate and all it may happen during the break and can be reused immediately. Whereas, the conventional battery charging gives the forklift operator 8 hours of run-time, it then requires 8 hours of charging time and another 8 hours to cool before it can be used again. Hence, to not experience downtime, additional batteries must be purchased for each shift. So, fast charging technology can help warehouses and material handling centers to save the spending on additional batteries. Also, the technology can reduce the downtime and increase work efficiency. Thus, the fast charging feature is expected to propel the Asia-Pacific forklift battery market in the upcoming years.

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.

Asia-Pacific Forklift Battery Market Revenue and Forecast to 2028 (US$ Million)

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Asia-Pacific Forklift Battery Market Segmentation

Asia-Pacific Forklift Battery Market – By Type

Lithium ion
Lead–Acid
Others

Asia-Pacific Forklift Battery Market – By Application

Warehouses
Construction
Manufacturing
Retail and Wholesale Stores
Others

Asia-Pacific Forklift Battery Market– By Country

Asia-Pacific Forklift Battery Market-Companies Mentioned

Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
Crown Equipment Corporation
East Penn Manufacturing Company
EnerSys
Exide Industries Limited
ForeverPure Corporation
Microtex Energy Private Limited
Saft Groupe SA

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. APAC Forklift Battery Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 APAC

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. APAC Forklift Battery Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Logistics and Warehouses

5.1.2 Rapid Industrialization in Several Countries

5.2 Market Restraints

5.2.1 Electric Pallet Stacker as an Alternate of Forklift Trucks

5.3 Opportunities

5.3.1 Technological Innovations and Features such as Quick Charging

5.4 Future Trends

5.4.1 Solar Based Forklift Batteries with Smart Energy Storage Systems

5.5 Impact Analysis of Drivers And Restraints

6. Forklift Battery – APAC Market Analysis

6.1 APAC Forklift Battery Market Overview

6.2 APAC Forklift battery Market Revenue Forecast and Analysis

7. APAC Forklift Battery Market – By Type

7.1 Overview

7.2 Lithium Ion

7.2.1 Lithium Ion: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

7.3 Lead–Acid

7.3.1 Lead–Acid: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

7.4 Others

7.4.1 Others: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

8. APAC Forklift Battery Market – By Application

8.1 Overview

8.2 Warehouses

8.2.1 Warehouses: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

8.3 Construction

8.3.1 Construction: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

8.4 Manufacturing

8.4.1 Manufacturing: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

8.5 Retail and Wholesale Stores

8.5.1 Retail and Wholesale Stores: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

8.6 Others

8.6.1 Others: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

9. APAC Forklift Battery Market – Country Analysis

9.1 Overview

9.1.1 APAC: Forklift Battery Market, by Key Country

9.1.1.1 China: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 China: Forklift Battery Market, by Type

9.1.1.1.2 China: Forklift Battery Market, by Application

9.1.1.2 Japan: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 Japan: Forklift Battery Market, by Type

9.1.1.2.2 Japan: Forklift Battery Market, by Application

9.1.1.3 India: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 India: Forklift Battery Market, by Type

9.1.1.3.2 India: Forklift Battery Market, by Application

9.1.1.4 South Korea: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 South Korea: Forklift Battery Market, by Type

9.1.1.4.2 South Korea: Forklift Battery Market, by Application

9.1.1.5 Australia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1 Australia: Forklift Battery Market, by Type

9.1.1.5.2 Australia: Forklift Battery Market, by Application

9.1.1.6 Rest of APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1 Rest of APAC: Forklift Battery Market, by Type

9.1.1.6.2 Rest of APAC: Forklift Battery Market, by Application

10. APAC Forklift battery Market - COVID-19 Impact Analysis

10.1 APAC: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Market Initiative

11.2 Merger and Acquisition

11.3 New Development

12. Company Profiles

12.1 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Crown Equipment Corporation

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 ForeverPure Corporation

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Exide Industries Limited

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 EnerSys

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Saft Groupe SA

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.8 East Penn Manufacturing Company

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Microtex Energy Private Limited

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. APAC Forklift battery Market Revenue and Forecast to 2028 (US$ Million)

Table 2. APAC: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3. China: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 4. China: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 5. Japan: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 6. Japan: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 7. India: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 8. India: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9. South Korea: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10. South Korea: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 11. Australia: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 12. Australia: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 13. Rest of APAC: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 14. Rest of APAC: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 15. List of Abbreviation

LIST OF FIGURES

Figure 1. APAC Forklift Battery Market Segmentation

Figure 2. APAC Forklift Battery Market Segmentation – By Country

Figure 3. APAC Forklift Battery Market Overview

Figure 4. APAC Forklift Battery Market, By Type

Figure 5. APAC Forklift Battery Market, By Application

Figure 6. APAC Forklift Battery Market, By Country

Figure 7. APAC – PEST Analysis

Figure 8. APAC Forklift Battery Market- Ecosystem Analysis

Figure 9. APAC Forklift battery Market Impact Analysis of Drivers and Restraints

Figure 10. APAC Forklift battery Market Revenue Forecast and Analysis (US$ Million)

Figure 11. APAC Forklift battery Market Breakdown by Type, 2020 & 2028 (%)

Figure 12. Lithium Ion: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

Figure 13. Lead–Acid: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

Figure 14. Others: APAC Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)

Figure 15. APAC Forklift battery Market Breakdown by Application, 2020 & 2028 (%)

Figure 16. Warehouses: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

Figure 17. Construction: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

Figure 18. Manufacturing: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

Figure 19. Retail and Wholesale Stores: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

Figure 20. Others: APAC Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)

Figure 21. APAC: Forklift Battery Market by key Country– Revenue (2020) (US$ Million)

Figure 22. APAC: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)

Figure 23. China: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. Japan: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. India: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26. South Korea: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. Australia: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. Rest of APAC: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
Crown Equipment Corporation
East Penn Manufacturing Company
EnerSys
Exide Industries Limited
ForeverPure Corporation
Microtex Energy Private Limited
Saft Groupe SA

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia-Pacific Forklift Battery Market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Forklift Battery Market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the Forklift Battery Market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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