Forklift is a major industrial vehicle with 2 front power-operated spikes which can be moved under heavy loads & then elevated in warehouses, shipping yards among others for moving & loading materials. Forklifts are mainly powered by electricity, diesel or CNG. Many forklifts permit operators to sit while the machine is driving & operating, while others need the operator to stand. It is extensively used for the shipping of materials & products throughout many industries. A forklift battery is also used to deliver a mass counterbalance, which supports in forklift’s lifting capacity. Forklift battery includes of battery case, battery cell, battery bars & battery cables. The most common forklift battery is lead acid & lithium ion.
The forklift battery market is expected to raise on account of extraordinary demand for forklifts by some end user industries which in turn rises the necessity for battery to run the forklift. Growing revolutions in batteries, like high storage capacity & long battery life which improves battery effectiveness is further endorsing the demand for forklift batteries among the end use applications. Due to the development of retail industry & the rising need for forklifts in warehouse & distribution hubs, the market for forklift battery is expected to raise steadily during the forecast period.
The China forklift market is expected to record a CAGR of about 5.87% during the forecast period. The market is classified by type into lead acid, lithium ion & others, out of which, the lead acid sector is expected to hold the major market share in the forklift battery market on account of its wide usage in most end-use businesses. The lead-acid battery delivers an efficient & highly better combination of power & counterbalance.
Increasing Demand for Forklifts Supported By Growing Industrial Output:
According to the MMR study report, the exported value of forklift trucks has doubled during the last decade growing from USD 16,410,267 thousand in the year 2014 to USD 20,341,315 thousand in the year 2019. Since the usage of smartphone is on the rise during the past few years, online shopping is playing a major role in the e-commerce market. On account of the global development of e-commerce & retail industry, a maximum number of warehouses is being recognized which desires forklift in order to adjust their goods. The increasing demand for forklifts in the end use applications is expected to lift the forklift battery market.
The report published by Maximize encompasses the market dynamics, which could affect the market growth of Substation Maintenance in the region, the Value – Chain analysis, and the PORTER’s analysis for the Substation Maintenance market at a China level.
The study is consolidated on the basis of segments and further into sub-segments, by Type, Application.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key Players- EnerSys. Hoppecke, East Penn Manufacturing, Exide Technologies, Hitachi Chemical, GS Yuasa, Systems Sunlight, Saft, Electrovaya, FAAM, LEOCH, Tianneng Battery Group, Zibo Torch Energy, Shandong Sacred Sun Power Sources, Camel Group, Yingde Aokly Power Co,BSLBATT, Yantai Goldentide Unikodi Battery Co, Jiangsu Frey New Energy Co..
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “China Forklift Battery Market.”
https://www.maximizemarketresearch.com/market-report/china-forklift-battery-market/119905/
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