North America 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 North America is expected to grow from US$ 1,094.73 million in 2021 to US$ 1,719.26 million by 2028; it is estimated to grow at a CAGR of 6.7% 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 North America forklift battery market in the upcoming years.Owing to favorable government initiatives to boost innovations and reinforce infrastructure capabilities, North America has the highest acceptance for emerging technologies. Any impact on industries in the region hampers the region's economic development. The US is the world's worst-affected country due to the COVID-19 pandemic. The country is home to a large number of industrial and forklift battery players, and the outbreak has severely affected the production performance of each of them due to disturbances in the supply chain of battery components. In addition, the region witnessed a slowdown in manufacturing industries during the first two quarters of 2020, and this factor has reduced the operations in factor and warehouses. The underperformance of forklift battery market players in North America is also attributed to limited human movement and shuttering of manufacturing units during the first half on 2020.
North America Forklift Battery Market Revenue and Forecast to 2028 (US$ Million)
North America Forklift Battery Market Segmentation
North America Forklift Battery Market – By Type
- Lithium ion
- Lead–Acid
- Others
North America Forklift Battery Market – By Application
- Warehouses
- Construction
- Manufacturing
- Retail and Wholesale Stores
- Others
North America Forklift Battery Market– By Country
- US
- Canada
- Mexico
North America 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
- OneCharge
- Saft Groupe SA
- Storage Battery Systems, LLC
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. North America Forklift Battery Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America 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 – North America Market Analysis
6.1 North America Forklift Battery Market Overview
6.2 North America Forklift battery Market Revenue Forecast and Analysis
7. North America Forklift Battery Market – By Type
7.1 Overview
7.2 Lithium Ion
7.2.1 Lithium Ion: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
7.3 Lead–Acid
7.3.1 Lead–Acid: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
7.4 Others
7.4.1 Others: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
8. North America Forklift Battery Market – By Application
8.1 Overview
8.2 Warehouses
8.2.1 Warehouses: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
8.3 Construction
8.3.1 Construction: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
8.4 Manufacturing
8.4.1 Manufacturing: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
8.5 Retail and Wholesale Stores
8.5.1 Retail and Wholesale Stores: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
8.6 Others
8.6.1 Others: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
9. North America Forklift Battery Market – Country Analysis
9.1 Overview
9.1.1 North America: Forklift Battery Market, by Key Country
9.1.1.1 US: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Forklift Battery Market, by Type
9.1.1.1.2 US: Forklift Battery Market, by Application
9.1.1.2 Canada: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Forklift Battery Market, by Type
9.1.1.2.2 Canada: Forklift Battery Market, by Application
9.1.1.3 Mexico: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Forklift Battery Market, by Type
9.1.1.3.2 Mexico: Forklift Battery Market, by Application
10. North America Forklift Battery Market - COVID-19 Impact Analysis
10.1 North America: 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 OneCharge
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
12.7 Saft Groupe SA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Storage Battery Systems, LLC
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 East Penn Manufacturing Company
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
12.10 Microtex Energy Private Limited
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Forklift battery Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Forklift Battery Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Forklift Battery Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Forklift Battery Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Forklift Battery Market Segmentation
Figure 2. North America Forklift Battery Market Segmentation – By Country
Figure 3. North America Forklift Battery Market Overview
Figure 4. North America Forklift Battery Market, By Type
Figure 5. North America Forklift Battery Market, By Application
Figure 6. North America Forklift Battery Market, By Country
Figure 7. North America PEST Analysis
Figure 8. North America Forklift Battery Market- Ecosystem Analysis
Figure 9. North America Forklift battery Market Impact Analysis of Drivers and Restraints
Figure 10. North America Forklift battery Market Revenue Forecast and Analysis (US$ Million)
Figure 11. North America Forklift battery Market Breakdown by Type, 2020 & 2028 (%)
Figure 12. Lithium Ion: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
Figure 13. Lead–Acid: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
Figure 14. Others: North America Forklift Battery Market - Revenue and Forecasts to 2028 (US$ Million)
Figure 15. North America Forklift battery Market Breakdown by Application, 2020 & 2028 (%)
Figure 16. Warehouses: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 17. Construction: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. Manufacturing: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. Retail and Wholesale Stores: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 20. Others: North America Forklift Battery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. North America: Forklift Battery Market, by key Country – Revenue (2020) (US$ Million)
Figure 22. North America: Forklift Battery Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: Forklift Battery Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North American 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
- OneCharge
- Saft Groupe SA
- Storage Battery Systems, LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America 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 North America 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 North America 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