Lithium-lon Forklift Batteries Market

Lithium-lon Forklift Batteries Market Analysis

The lithium-ion batteries market will undergo a high expansion rate over the coming years. This will be due to several factors. One key factor is the consistent improvement in battery technology. In addition, advanced lithium metal batteries have been developed that could add to the benefits of these rechargeable batteries.

Lithium metal batteries have several advantages over conventional lithium-ion batteries. They can, for instance, store more charge and charge up much more quickly. However, batteries’ low energy storage capacity and long charging times are vital drawbacks. Lithium metal batteries look set to mitigate these drawbacks. Research and development have been going on for decades to make these solid-state batteries viable. The critical drawback has been the poor stability of these batteries.

The global Lithium-lon Forklift Batteries market is expected to witness a CAGR of 7% during the forecast period. The global Lithium-lon Forklift Batteries market in 2021 was over USD 1,971.53 million and is expected to generate revenue worth USD 3,254.61 million in 2028. The incremental growth opportunity offered by the global Lithium-lon Forklift Batteries is estimated to be USD 18.75 billion between 2022 and 2028.

Interesting Facts about Lithium-lon Forklift Batteries Industry

• Lithium-ion batteries usually have an average of a thousand charge cycles
• The weight of Lithium-ion batteries is one-third the weight of lead-acid batteries
• Lithium-ion batteries maintain their voltage throughout the entire discharge cycle
• Lithium-ion batteries are a much cleaner technology and are safer for the environment
• Despite of high up-front cost, the actual ownership cost is meager

Solid-state batteries aim to research and development efforts in battery chemistry. That is because these batteries have superior energy density and charge storage capacity. However, these batteries have the problem of poor stability, due to which they are not commercially viable.

A Harvard research team has developed a kind of lithium metal battery that does not have this drawback. According to the team, this battery can undergo 10,000 charging/recharging cycles before it degrades substantially. This is far greater than previous results. Also, since this new battery can charge at a high current, it can charge more quickly. Based on voltage, 12V, 24V, 36V, 48V, 80V, and Others are significant types of Lithium-lon Forklift Batteries. 24V and 36V segments dominated the demand for Lithium-lon Forklift Batteries with over 40% share in 2021.

The development of this and other battery technologies may one day make electric forklifts more feasible. With a battery of this kind of lifespan, an average electric forklift can last ten to fifteen years. The battery can last a decade or more before it degrades substantially and needs replacement. Due to the high amount of current that these new batteries can draw, they can recharge in as little as 20 minutes.

This research shows that solid-state batteries have superior performance compared to liquid electrolyte batteries. It now appears that stability problems in solid-state lithium batteries will soon be overcome. Once that happens, electric forklifts will become a more pragmatic option. This technology works with the help of two different electrolytes.

The lithium-ion batteries that the new technology will replace had won their inventors a Nobel Prize in the 70s. They were remarkable at that time for their exceptional energy capacity. In addition, they were a significant development for people with pacemakers since they could last around ten years instead of the two years that previous batteries could last. In the 90s, lithium-ion batteries progressed further to be used commercially for portable electronics.

Wearhouse to Dominate Lithium-lon Forklift Batteries

Warehouses, Factories, Distribution Centres, Construction, Retail & wholesale stores, and Others are major application markets for Lithium-lon Forklift Batteries. Warehouses held the largest share of over 20% share in 2021. Rechargeability is a crucial consideration for new solid-state lithium metal batteries. Lithium batteries can undergo around one thousand recharging cycles before they degrade substantially. Hence, when these batteries are charged 4 to 5 times a week, they can last around five years. However, the lithium metal battery developed by the Harvard team has around ten times better performance. These developments will be a boon for the lithium-ion forklift battery market.

Key players operating in the global Lithium-lon Forklift Batteries market include BSLBATT, Crown Battery, East Penn Manufacturing, Electrovaya, EnerSys, Exide Technologies, Flux Power Holdings, Inc, GS Yuasa, Hitachi Chemical, Hoppecke, MIDAC, Saft, SYSTEMS SUNLIGHT and Triathlon Batterien GmbH.

1.Preface
1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation
2.Executive Summary
2.1.Market Snapshot: Global Lithium-lon Forklift Batteries Market
3.Market Dynamics & Factors Analysis
3.1.Introduction
3.1.1. Global Lithium-lon Forklift Batteries Market Value, 2016-2028, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2021
3.3.1.Type
3.3.2.Application
3.3.3.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis
4.Market Positioning of Key Players, 2021
4.1.Company market share of key players, 2021
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players
5.COVID 19 Impact Analysis
5.1.Global Lithium-lon Forklift Batteries Market Pre Vs Post COVID 19, 2019 – 2028
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply
6.North America
6.1.North America Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
6.2.1.Overview
6.2.2.12V
6.2.3.24V
6.2.4.36V
6.2.5.48V
6.2.6.80V
6.2.7.Others
6.3.North America Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
6.3.1.Overview
6.3.2.Warehouses
6.3.3.Factories
6.3.4.Distribution Centres
6.3.5.Construction
6.3.6.Retail & wholesale stores
6.3.7.Others
7.Europe
7.1.Europe Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
7.2.1.Overview
7.2.2.12V
7.2.3.24V
7.2.4.36V
7.2.5.48V
7.2.6.80V
7.2.7.Others
7.3.Europe Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
7.3.1.Overview
7.3.2.Warehouses
7.3.3.Factories
7.3.4.Distribution Centres
7.3.5.Construction
7.3.6.Retail & wholesale stores
7.3.7.Others
8.Asia Pacific
8.1.Asia Pacific Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
8.2.1.Overview
8.2.2.12V
8.2.3.24V
8.2.4.36V
8.2.5.48V
8.2.6.80V
8.2.7.Others
8.3.Asia Pacific Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
8.3.1.Overview
8.3.2.Warehouses
8.3.3.Factories
8.3.4.Distribution Centres
8.3.5.Construction
8.3.6.Retail & wholesale stores
8.3.7.Others
9.Latin America
9.1.Latin America Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
9.2.1.Overview
9.2.2.12V
9.2.3.24V
9.2.4.36V
9.2.5.48V
9.2.6.80V
9.2.7.Others
9.3.Latin America Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
9.3.1.Overview
9.3.2.Warehouses
9.3.3.Factories
9.3.4.Distribution Centres
9.3.5.Construction
9.3.6.Retail & wholesale stores
9.3.7.Others
10.Middle East
10.1.Middle East Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
10.2.1.Overview
10.2.2.12V
10.2.3.24V
10.2.4.36V
10.2.5.48V
10.2.6.80V
10.2.7.Others
10.3.Middle East Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
10.3.1.Overview
10.3.2.Warehouses
10.3.3.Factories
10.3.4.Distribution Centres
10.3.5.Construction
10.3.6.Retail & wholesale stores
10.3.7.Others
11.Africa
11.1.Africa Lithium-lon Forklift Batteries Market, by Country, 2016-2028(US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Lithium-lon Forklift Batteries Market, by End-user, 2016-2028(US$ Bn)
11.2.1.Overview
11.2.2.12V
11.2.3.24V
11.2.4.36V
11.2.5.48V
11.2.6.80V
11.2.7.Others
11.3.Africa Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
11.3.1.Overview
11.3.2.Warehouses
11.3.3.Factories
11.3.4.Distribution Centres
11.3.5.Construction
11.3.6.Retail & wholesale stores
11.3.7.Others
12.Global
12.1.Global Lithium-lon Forklift Batteries Market, by Type, 2016-2028(US$ Bn)
12.1.1.Overview
12.1.2.12V
12.1.3.24V
12.1.4.36V
12.1.5.48V
12.1.6.80V
12.1.7.Others
12.2.Global Lithium-lon Forklift Batteries Market, by Application, 2016-2028(US$ Bn)
12.2.1.Overview
12.2.2.Warehouses
12.2.3.Factories
12.2.4.Distribution Centres
12.2.5.Construction
12.2.6.Retail & wholesale stores
12.2.7.Others
13.Company Profiles
13.1.BSLBATT
13.2.Crown Battery
13.3.East Penn Manufacturing
13.4.Electrovaya
13.5.EnerSys
13.6.Exide Technologies
13.7.Flux Power Holdings, Inc
13.8.GS Yuasa
13.9.Hitachi Chemical
13.10.Hoppecke
13.11.MIDAC
13.12.Saft
13.13.SYSTEMS SUNLIGHT
13.14.Triathlon Batterien GmbH
13.15.Others

List of Figures

FIG. 1Global Lithium-lon Forklift Batteries Market: Research Methodology
FIG. 2Market Size Estimation – Top Down & Bottom up Approach
FIG. 3Global Lithium-lon Forklift Batteries Market Segmentation
FIG. 4Global Lithium-lon Forklift Batteries Market, by Type, 2019 (US$ Bn)
FIG. 5Global Lithium-lon Forklift Batteries Market, by Application, 2021 (US$ Bn)
FIG. 6Global Lithium-lon Forklift Batteries Market, by Geography, 2021 (US$ Bn)
FIG. 7Attractive Investment Proposition, by Geography, 2021
FIG. 8Global Market Positioning of Key Lithium-lon Forklift Batteries Market Manufacturers, 2019
FIG. 9Global Lithium-lon Forklift Batteries Market Value Contribution, By Type, 2021 & 2028 (Value %)
FIG. 10Global Lithium-lon Forklift Batteries Market, by 12V, Value, 2016-2028 (US$ Bn)
FIG. 11Global Lithium-lon Forklift Batteries Market, by 24V, Value, 2016-2028 (US$ Bn)
FIG. 12Global Lithium-lon Forklift Batteries Market, by 36V, Value, 2016-2028 (US$ Bn)
FIG. 13Global Lithium-lon Forklift Batteries Market, by 48V, Value, 2016-2028 (US$ Bn)
FIG. 14Global Lithium-lon Forklift Batteries Market, by 80V, Value, 2016-2028 (US$ Bn)
FIG. 15Global Lithium-lon Forklift Batteries Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 16Global Lithium-lon Forklift Batteries Market, by Warehouses, Value, 2016-2028 (US$ Bn)
FIG. 17Global Lithium-lon Forklift Batteries Market, by Factories, Value, 2016-2028 (US$ Bn)
FIG. 18Global Lithium-lon Forklift Batteries Market, by Distribution Centres, Value, 2016-2028 (US$ Bn)
FIG. 19Global Lithium-lon Forklift Batteries Market, by Construction, Value, 2016-2028 (US$ Bn)
FIG. 20Global Lithium-lon Forklift Batteries Market, by Retail & wholesale stores, Value, 2016-2028 (US$ Bn)
FIG. 21U.S. Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 22Rest of North America Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 23U.K. Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 24Germany Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 25France Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 26Italy Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 27Spain Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 28Russia Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 29BENELUX Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 30Poland Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 31Austria Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 32Rest of Europe Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 33Japan Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 34China Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 35India Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 36South Korea Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 37Australia Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 38Southeast Asia Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 39Rest of Asia Pacific Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 40Middle East & Africa Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 41South Africa Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 42Nigeria Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 43Egypt Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 44GCC Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 45Israel Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 46Latin America Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 47Mechanicalzil Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 48Argentina Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 49Colombia Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 50Peru Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)
FIG. 51Chile Lithium-lon Forklift Batteries Market, 2016-2028 (US$ Bn)

List of Tables

TABLE 1Market Snapshot: Global Beauty Devices (Lithium-lon Forklift Batteries) Market
TABLE 2Global Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 3Global Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 4Global Lithium-lon Forklift Batteries Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5North America Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 6North America Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 7North America Lithium-lon Forklift Batteries Market, by Country, 2016-2028 (US$ Bn)
TABLE 8Europe Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 9Europe Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 10Europe Lithium-lon Forklift Batteries Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 11Asia Pacific Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 12Asia Pacific Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 13Asia Pacific Lithium-lon Forklift Batteries Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 14Latin America Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 15Latin America Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 16Latin America Lithium-lon Forklift Batteries Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17Middle East Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 18Middle East Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 19Middle East Lithium-lon Forklift Batteries Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 20Africa Lithium-lon Forklift Batteries Market, by Type, 2016-2028 (US$ Bn)
TABLE 21Africa Lithium-lon Forklift Batteries Market, by Application, 2016-2028 (US$ Bn)
TABLE 22Africa Lithium-lon Forklift Batteries Market, by Country/Region, 2016-2028 (US$ Bn)