LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global forklift battery market is expected to accelerate at a CAGR of almost 9% during the forecast period. The increasing demand for electric forklift applications is one of the key factors triggering the growth of the market.
This research report titled ‘Global Forklift Battery Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global forklift battery market into the following geographies:
In 2017, the APAC region accounted for close to 41% of the global market and is projected to reach nearly 43% by 2022, exhibiting almost 2% increase in market share.
Global forklift battery market: Top emerging trend
Legislative support for battery recycling is an emerging trend in the forklift battery market. In countries such as the US, various major battery manufacturers have collaborated to establish the corporation for battery recycling to support battery recycling for future use. The European Union has imposed stringent legislation for battery recycling. However, the current rate of lead-acid battery collection is low in the EU when compared with the US. All battery manufacturers must adhere to the regulated recycling levels. The end-products of recycling are lead scrap, which can be used in the battery industry as a secondary metal.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Forklift Battery Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (East Penn Manufacturing, EnerSys, Exide Technologies, HOPPECKE Batterien, and Saft)
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