Global Forklift Battery Market Growth 2025-2031

Global Forklift Battery Market Growth 2025-2031

The global Forklift Battery market size is predicted to grow from US$ 2662 million in 2025 to US$ 4077 million in 2031; it is expected to grow at a CAGR of 7.4% from 2025 to 2031.

The forklift battery is a battery for powering electric forklifts. It is mainly divided into lead-acid batteries and lithium-ion batteries. At present, lead-acid batteries occupy a large market share, but with the maturity of lithium-ion battery technology, the future development of lithium-ion batteries better. A forklift battery actually has two functions: The first function is to provide a power source to the forklift. The second, and lesser known function, is to provide mass as a counterweight, which aids the forklift’s lifting capacity.

Global Forklift Battery key players include EnerSys, Hitachi Chemical, GS Yuasa, Hoppecke, Tianneng Battery Group, LEOCH, etc. Global top six manufacturers hold a share about 50%. China is the largest market, with a share about 42%, followed by Japan, both have a share about 14 percent. In terms of product, Lead-Acid Battery is the largest segment, with a share over 83%. And in terms of application, the largest application is Warehouses, followed by Factories, Distribution Centers, etc.

LP Information, Inc. (LPI) ' newest research report, the “Forklift Battery Industry Forecast” looks at past sales and reviews total world Forklift Battery sales in 2024, providing a comprehensive analysis by region and market sector of projected Forklift Battery sales for 2025 through 2031. With Forklift Battery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Forklift Battery industry.

This Insight Report provides a comprehensive analysis of the global Forklift Battery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Forklift Battery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Forklift Battery market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Forklift Battery and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Forklift Battery.

This report presents a comprehensive overview, market shares, and growth opportunities of Forklift Battery market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Lead Acid Battery
Lithium-ion Battery

Segmentation by Application:
Warehouse
Factory
Distribution Center
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
EnerSys
Hitachi Chemical (Showa Denko)
GS Yuasa
Hoppecke
East Penn Manufacturing
Exide Industries
Amara Raja
MIDAC
Sunlight
TAB
Crown Battery
BAE Batterien
Banner Batteries
Saft
Electrovaya
Flux Power
FAAM (Seri Industrial)
Tianneng Battery Group
LEOCH
Camel Group
Shandong Sacred Sun Power Sources
Aokly Group
Zibo Torch Energy
BSLBATT
Yantai Goldentide Unikodi Battery
Jiangsu Frey New Energy

Key Questions Addressed in this Report

What is the 10-year outlook for the global Forklift Battery market?

What factors are driving Forklift Battery market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Forklift Battery market opportunities vary by end market size?

How does Forklift Battery break out by Type, by Application?