Global Forklift Battery Charger Market to 2023: New Infrastructure Along with Increasing Penetration of e-Commerce Bolsters the Growth of Forklifts
DUBLIN, Nov. 5, 2019 /PRNewswire/ -- The "Global Forklift Battery Charger Market, 2018 - 2023" report has been added to ResearchAndMarkets.com's offering.
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 the Asia Pacific.
The creation of new infrastructure along with increasing penetration of e-commerce bolsters the growth of forklifts in the 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 the 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 the warehouse and material handling departments. Distributors are expected to propel the 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 the 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).
Key Topics Covered:
1. Executive Summary
- 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
2. Research Scope, Objectives, Background, and Methodology
- Research Scope
- Research Aims and Objectives
- Key Questions this Study will Answer
- Research Background
- Research Methodology
3. Definitions and Segmentation
- Types of Forklifts
4. Market Overview
- 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
5. North American Forklift Market
- Unit Shipment Forecast
- Percent Unit Shipment Forecast by Class
- Unit Shipment Forecast by Class and Powertrain
- Percent Unit Shipment by Battery Chemistry
- Percent Unit Shipment by Charging Methodology
- Battery Charger - Percent Unit Shipment by Topology
- Battery Charger Market Unit Shipment Forecast
- Battery Charger Market Share 2018
6. European Forklift Market
7. Asia-Pacific Forklift Market
8. Global Forklift Battery Charging Company Profiles
- 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
9. Growth Opportunities and Companies to Action
- Growth Opportunity - Global Forklift Market
- Strategic Imperatives for Success and Growth
10. Conclusions and Future Outlook
- Key Conclusions
- The Last Word - 3 Big Predictions
For more information about this report visit https://www.researchandmarkets.com/r/w5p8h5
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