Canada Forklift Battery Market, By Type (Lithium ion, Lead Acid, and Others), By Application (Warehouses, Construction, Manufacturing, Retail & Wholesale Stores, and Others), By Region, Competition Forecast & Opportunities, 2027

Canada Forklift Battery Market, By Type (Lithium ion, Lead Acid, and Others), By Application (Warehouses, Construction, Manufacturing, Retail & Wholesale Stores, and Others), By Region, Competition Forecast & Opportunities, 2027

Canada forklift battery market is anticipated to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the increasing demand for the forklift truck for various industrial purposes. Besides, continuous advancements in battery technology and growing retail industry are expected to drive the Canada forklift battery market. Additionally, growing popularity of e-commerce channels among consumers and high demand for warehouses are anticipated to boost the market growth.

High internet penetration and smartphone adoption are also playing a significant role in increasing customer demand for the e-commerce business. Consumers' rising spending power and the increased number of online market players are enabling e-commerce industry players to establish a efficient supply chain and distribution network. Market participants are opening warehouses to meet the demands of the expanding e-commerce and retail industries. These warehouse operators require a forklift to transport and organize their items. High demand for forklifts in end-user sectors as well as the introduction of advanced forklift versions into the market by forklift manufacturers are projected to drive demand in the Canada forklift market during the forecast period.

To reduce greenhouse gases and encourage zero-emission cars, forklift manufacturers are introducing an electric forklift variant. The Canada government is taking aggressive steps to transition automobiles to cleaner fuels and has issued stringent rules to attain zero-emission targets by 2035. Leading authorities have committed significant resources to increase consumer adoption of electric vehicles. Electric motors power electric forklifts instead of internal combustion engines, using either grid electricity or rechargeable forklift batteries; thus, the forklift truck must be started. They produce no hazardous toxins into the environment.

Market participants are investing heavily in research efforts. They are incorporating sophisticated technologies such as the internet of things, connected devices, and fleet management into existing forklift models, which is projected to drive forklift sales in various industries.

Canada has one of the best infrastructures in the world, which meet high-tech corporate and international commerce criteria. The Canadian government is making efforts and investments to increase infrastructure development in the country in order to improve people's quality of life. As part of their infrastructure development plan, the Canada government has lined up various infrastructure development projects such as GO Expansion - On Corridor, Bruce Power Refurbishment, Darlington Nuclear Refurbishment, Site C Clean Energy Project, and many more. Forklift trucks are used to move big items, increasing efficiency, and decreasing operational costs.

The Canada forklift battery market is segmented on the basis of type, application, company, and regional distribution. Based on type, the market is divided into lithium ion, lead acid, and others. The lithium-ion battery is expected to dominate the Canada forklift battery market during the forecast period, owing to the advantages offered by their counterparts, such as low charging time, recyclability, less need for maintenance, etc.

Major players operating in the Canada forklift battery market are Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, Crown Equipment Corporation, East Penn Manufacturing Company, Enersys, Exide Industries Limited, Microtex Energy Private Limited, NITCO, Storage Battery Systems, LLC, Systems Sunlight S.A., and TOTAL SA, among others.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023–2027

Objective of the Study:

• To analyze the historical growth in the market size of the Canada forklift battery from 2017 to 2021.
• To estimate and forecast the market size of Canada forklift battery market from 2023 to 2027 and growth rate until 2027.
• To classify and forecast the Canada forklift battery market based on type, application, region, and company.
• To identify the dominant region or segment in the Canada forklift battery market.
• To identify drivers and challenges for the Canada forklift battery market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Canada forklift battery market.
• To identify and analyze the profiles of leading players operating in the Canada forklift battery market.
• To identify key sustainable strategies adopted by market players in Canada forklift battery market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of the Canada forklift battery market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Canada forklift battery market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Canada Forklift Battery Market, By Type:
• Lithium ion
• Lead Acid
• Others
• Canada Forklift Battery Market, By Application:
• Warehouses
• Construction
• Manufacturing
• Retail & Wholesale Stores
• Others
• Canada Forklift Battery Market, By Region:
• Ontario
• Quebec
• The West
• British Columbia
• Atlantic Canada
• The North

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Canada forklift battery market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights