Battery utilized in the forklift truck is
ideally well-known as a forklift battery. It is known for two major
functions-providing battery source to a forklift truck and delivering the mass
to forklift as a counterweight that further aids in its lifting potential. Such
batteries are self-possessed of a battery case, battery cells, battery bar, and
battery cables; and are of two forms involving the Lead-Acid battery and a
lithium-ion battery. Both forms of batteries have their system, setup, charging
demands, and price range.
Although, the worldwide forklift battery
market was worth at USD 4.3 billion in 2018, and is projected to reach USD 7.4
billion by 2026, increasing at a CAGR of 7.04% from 2019 to 2026. Whereas, the
worldwide forklift battery market growth is propelled by the emergence of fuel
cell forklifts as a substitute to the electric forklift. Environmental
distresses, as well as the convenience of natural resources, led forklift
producers to look for a more proficient and sustainable alternative over
electric forklift. A fuel cell is a practicable alternative in such a scenario
and its usage in batteries is increasing extensively. Therefore, the augment in
the popularity of fuel cell-based forklift significantly influence the growth
of the market. Not only has this, one of the foremost benefits of utilizing the
forklift batteries is that they deliver mass to forklift as a counterweight
that further supports in lifting capacity of the forklift truck. This augments
the productivity of forklift trucks, which boosts the requirement for
batteries. There is an augment in the requirement for proficient power sources
to forklift machines to improve the load-bearing capacity. Therefore,
manufacturers are functioning to advance the more efficient batteries for
forklift, which is projected to offer fresh growth opportunities throughout the
forecast duration.
Whereas, the Asia-Pacific acquired the
greatest market share due to the augment in industrial output, and the growth
in urbanization. Aspects that have an indirect impact on the growth of forklift
batteries across Asia-Pacific are drastic populace rise, speedy urbanization,
and enlargement in nature of foremost industries such as construction, food
processing, electronics, furniture, and most proficiently consumer goods. Owing
to the increase in population, there is a growth in requirement for
construction projects, food, consumer products, furniture, and a variety of
other products that depend on material transporting forklifts trucks for
transportation. Therefore, the requirement for the batteries used in the
forklifts is also great in this region. Hence, in the near years, it is
anticipated that the market of forklift battery will increase around the globe
more effectively.
For More Information, Click on the Link Below:-
Global
Forklift Battery Market
Contact Us:-
Ken
Research
Ankur Gupta, Head Marketing &
Communications
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