U.S. Forklift Battery Market in Demand & Competitive Analysis by Leading Players to 2030

According to the report published by Allied Market Research, the U.S. forklift battery market was estimated at $810.5 million in 2020 and is expected to hit $1.78 billion by 2030, registering a CAGR of 8.5% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.

Emergence of fuel cell forklifts as an alternative to the electric forklift and expanding warehouse spaces and the manufacturing industry drive the growth of the U.S. forklift battery market. On the other hand, high cost associated with lithium-ion battery restrains the growth to some extent. However, penetration of green logistics is expected to create lucrative opportunities in the industry.

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The U.S. forklift battery market is analyzed across type, capacity, and application.

Based on capacity, the 0-600 Ahr segment accounted for more than three-fifths of the total market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also register the fastest CAGR of 8.7% during the forecast period.

Based on type, the lead acid battery segment contributed to more than three-fourths of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The Lithium Ion segment, however, would exhibit the fastest CAGR of 8.4% throughout the forecast period.

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Based on application, the warehouses segment accounted for more than one-fourth of the total market revenue in 2019, and is anticipated to rule the roost by the end of 2027. The same segment would manifest the fastest CAGR of 9.1% during the forecast period.

The key market players analyzed in the U.S. forklift battery market report include Crown Equipment Corporation, East Penn Manufacturing Company, Enersys, Exide Technologies, Total SE, Flux Power Holdings Inc., Bulldog Battery Corporation,  Foreverpure Corporation, Green Cubes Technology, OneCharge, Electrovaya, Storage Battery Systems LLC. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.

Get detailed COVID-19 impact analysis on the U.S. Forklift Battery Market Request Here

COVID-19 Scenario-

  • The ongoing projects from various industries such as construction, oil & gas, manufacturing, and others were either on hold or cancelled, especially during the initial phase of the pandemic, which affected the sales of material handling equipment, thereby impacting the U.S. forklift battery market negatively.
  • However, as situation in the United States is getting better, the market is anticipated to revive soon.

Key Findings of The Study

  • In 2019, the lead acid battery segment accounted for majority of the share of the U.S. forklift battery market, and is expected to maintain its lead throughout the forecast period. 
  • In 2019, the lead acid battery segment accounted for around 77.7% 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 2019, the 0-600 Ahr battery capacity segment is accounted for 62.8% market share in 2019, and is anticipated to grow at a rate of 7.2% 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 7.6% during 2020–2027.
  • In 2019, warehouses dominated the U.S. forklift battery market with more than 29.2% of the share, in terms of revenue

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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