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Global Forklift Battery Charger Market, 2018–2023

Global Forklift Battery Charger Market, 2018–2023

Global Electric Forklift Battery Chargers to Reach 900,000 Units in 2023 with Strong Demand from Europe and Asia-Pacific

RELEASE DATE
16-Oct-2019
REGION
North America
Research Code: K3A2-01-00-00-00
SKU: AU01896-GL-MR_23583
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Description

Global forklift truck sales are expected to grow 4.7% from 2018 to 2023 due to sustained growth in the top truck markets of North America, Europe, and Asia Pacific. The creation of new infrastructure along with increasing penetration of e-commerce bolsters growth of forklifts in freight and logistics sector.

Stricter emission regulations and increasing focus on energy efficiency have resulted in forklift manufacturers developing battery-powered electric forklifts. The adoption of Euro Stage V emission norms from 2019 across the European Union will require diesel forklifts fitted with advanced DPF after-treatment systems. Electric forklifts in North America, Europe, and Asia Pacific are estimated to grow at a 5.1% CAGR during 2018-2023. Lead Acid is expected to be the predominant battery chemistry with more than 90% penetration across the forecast period due to affordable pricing, long lifecycle, safe chemistry, and low operational cost. Lithium ion batteries are an emerging market for material handling equipment with a few product lines launched by each of the major material-handling companies. Improvement in operational efficiencies and reduction of energy consumption are driving innovation in battery chemistry.

Forklifts based on class are segmented into class 1, class 2, class 3, and class 4 /5 trucks. Class 3 is likely to witness a high growth rate of 4.9% CAGR due to high demand in warehouse and material handling departments. Distributors are expected to propel demand for forklifts in wholesale and retail distribution segments for transportation activities across different regions and for surplus goods stocking. There is a trend toward large end users looking to purchase directly as they consolidate margin dollars, while OEMs in the lift truck markets are looking to expand their verticals in areas such as chargers, lithium batteries, and battery services.

Operational savings and increasing productivity and safety have increased penetration of fast charging globally. The higher charging rate and frequent charging eliminates the need for additional batteries and improves driver productivity as they do not spend time on changing batteries on two/ three shifts. However, major challenges exist in the form of lower battery life and higher operating temperature. Fast charging has seen stronger penetration in the NA region while Asia Pacific is more inclined towards opportunity charging. Globally, fast charging is expected to constitute 27% of the total charging market in 2023.

Major participants are establishing their dominance by enhancing their product portfolios in order to cater to varying end-user applications. Some of the companies featured in this study are Enersys, GNB Exide, Fronius, Hoppecke, Rege Associates, Sirius Controls, Midac, Youngenergy, Ametek Prestolite, and Advanced Charging Technologies (ACT).

Author: Saideep Sudhakar

Table of Contents

Key Takeaways

Key Trends in Global Forklift Market

Global Emission Regulations for Forklift

Forklift Powertrain Breakdown—Region wise

Global Forklift Battery Charger Market Growth—Regional Snapshot

Executive Summary—Key Findings and Future Outlook

Research Scope

Research Aims and Objectives

Key Questions this Study will Answer

Research Background

Research Methodology

Types of Forklifts

Forklift Market Growth—2018 and 2023

Global Forklift Class-wise Split

Global Forklift Battery Chemistry Split

Forklift Battery Charging Methodology—Region wise

Battery Charger Method Comparison

Conventional vs Fast Charging Cost Comparison

Battery Charger Topology—By Region

Battery Charger Technology Comparison

Forklift Battery Charger Volumes—Region wise

Regional Battery Charger Pricing Analysis—2018

Forklift Battery Charger Market Size in Dollars—Region wise

TCO of LPG/Diesel Forklift Truck vs DC Electric Forklift Truck

NA Forklift—Unit Shipment Forecast

NA Forklift—Percent Unit Shipment Forecast by Class

NA Forklift—Unit Shipment Forecast by Class and Powertrain

NA Forklift—Percent Unit Shipment by Battery Chemistry

NA Forklift—Percent Unit Shipment by Charging Methodology

NA Forklift Battery Charger—Percent Unit Shipment by Topology

NA Forklift Battery Charger Market Unit Shipment Forecast

NA Forklift Battery Charger Market Share 2018

Europe Forklift—Unit Shipment Forecast

Europe Forklift—Percent Unit Shipment Forecast by Class

Europe Forklift—Unit Shipment Forecast by Class and Powertrain

Europe Forklift—Percent Unit Shipment by Battery Chemistry

Europe Battery Charger—Percent Unit Shipment by Charging Methodology

Europe Forklift Battery Charger—Percent Unit Shipment by Topology

EU Forklift Battery Charger Market Unit Shipment Forecast

EU Forklift Battery Charger Market Share 2018

APAC Forklift—Unit Shipment Forecast

APAC Forklift—Percent Unit Shipment Forecast by Class

APAC Forklift—Unit Shipment Forecast by Class and Powertrain

APAC Forklift—Percent Unit Shipment by Battery Chemistry

APAC Forklift Battery Charger—Percent Unit Shipment by Charging Methodology

APAC Forklift Battery Charger—Percent Unit Shipment by Topology

APAC Forklift Battery Charger Market—Unit Shipment Forecast

APAC Forklift Battery Charger Market Share 2018

Advanced Charging Technologies—Company Profile

Ametek Prestolite—Company Profile

Bassi s.r.l (SEVCON Group)—Company Profile

GNB Exide—Company Profile

Hoppecke—Company Profile

Enersys—Company Profile

Fronius—Company Profile

Midac S.P.A—Company Profile

Rege Associates—Company Profile

Sirius Controls—Company Profile

Youngenergy—Company Profile

Growth Opportunity—Global Forklift Market

Strategic Imperatives for Success and Growth

Key Conclusions

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Partial List of Abbreviations/Expansions Used

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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Global forklift truck sales are expected to grow 4.7% from 2018 to 2023 due to sustained growth in the top truck markets of North America, Europe, and Asia Pacific. The creation of new infrastructure along with increasing penetration of e-commerce bolsters growth of forklifts in freight and logistics sector. Stricter emission regulations and increasing focus on energy efficiency have resulted in forklift manufacturers developing battery-powered electric forklifts. The adoption of Euro Stage V emission norms from 2019 across the European Union will require diesel forklifts fitted with advanced DPF after-treatment systems. Electric forklifts in North America, Europe, and Asia Pacific are estimated to grow at a 5.1% CAGR during 2018-2023. Lead Acid is expected to be the predominant battery chemistry with more than 90% penetration across the forecast period due to affordable pricing, long lifecycle, safe chemistry, and low operational cost. Lithium ion batteries are an emerging market for material handling equipment with a few product lines launched by each of the major material-handling companies. Improvement in operational efficiencies and reduction of energy consumption are driving innovation in battery chemistry. Forklifts based on class are segmented into class 1, class 2, class 3, and class 4 /5 trucks. Class 3 is likely to witness a high growth rate of 4.9% CAGR due to high demand in warehouse and material handling departments. Distributors are expected to propel demand for forklifts in wholesale and retail distribution segments for transportation activities across different regions and for surplus goods stocking. There is a trend toward large end users looking to purchase directly as they consolidate margin dollars, while OEMs in the lift truck markets are looking to expand their verticals in areas such as chargers, lithium batteries, and battery services. Operational savings and increasing productivity and safety have increased penetration of fast charging globally. The higher charging rate and frequent charging eliminates the need for additional batteries and improves driver productivity as they do not spend time on changing batteries on two/ three shifts. However, major challenges exist in the form of lower battery life and higher operating temperature. Fast charging has seen stronger penetration in the NA region while Asia Pacific is more inclined towards opportunity charging. Globally, fast charging is expected to constitute 27% of the total charging market in 2023. Major participants are establishing their dominance by enhancing their product portfolios in order to cater to varying end-user applications. Some of the companies featured in this study are Enersys, GNB Exide, Fronius, Hoppecke, Rege Associates, Sirius Controls, Midac, Youngenergy, Ametek Prestolite, and Advanced Charging Technologies (ACT). Author: Saideep Sudhakar
More Information
No Index No
Podcast No
Author Saideep Sudhakar
Industries Automotive
WIP Number K3A2-01-00-00-00
Is Prebook No
GPS Codes 9673-A6,9800-A6,9807-A6,9813-A6,9B01-A6,9963-A6,9674-A6,9694,9968-A6,9882-A6,9AF6-A6