In the forklift battery industry, there are two choices either an old-school lead-acid battery or industry newbie Lithium-Ion (Li-Ion). Both have their own kinds of systems, charging requirements, setups, and price tags. Lead acid forklift batteries have two main purposes. They deliver a power source and act as a counterweight to a lift truck. A usual lead acid battery is made up of a battery case, battery cells, and battery cables which come together to house a liquid electrolyte mixture of sulfuric acid and water. Li-Ion batteries are consist of an anode, cathode, separator, electrolyte, and positive and negative terminals.This growth is primarily driven by Rising Demand for Electric Forklift Applications and Increasing Demand for VRLA Batteries.
Globally, a noticeable market trend is evident Governmental Support for Battery Recycling. Major Manufacturers, such as East Penn Manufacturing (United States), EnerSys (United States), Exide Technologies (United States), HOPPECKE Batteries (Germany), Saft (France), Triathlon Batteries Solutions, Inc. (United States), C&D Technologies Pvt. Ltd. (United States), GS Yuasa Corporation (Japan), Navitas Systems, LLC (United States) and BAE Batteries GmbH (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Rising Demand for Electric Forklift Applications
- Increasing Demand for VRLA Batteries
- Governmental Support for Battery Recycling
- High Cost Related to Forklift Battery
Increasing Adoption of Automated Guided Vehicles
Concerns Regarding Replacement of Electric Forklifts with Fuel Cell Forklifts
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