Forklift Battery Market to Grow at 8.1% CAGR Driven by the America to 2020
ReportsnReports.com adds Global Forklift Battery Market 2016-2020 latest research report, the analysts forecast global forklift battery market to grow at a CAGR of 8.1% during the period 2016-2020.
July 27, 2016 /MarketersMedia/ —
The global forklift battery market analyst says the use of fast chargers could overcome the barrier of long duration recharge. Conventional chargers provide nearly 5 kW and charge from 20% state of charge (SOC) to 100% SOC in eight hours. In contrast, fast chargers range from 15-30 kW and charge the battery to 100% SOC in one or two hours. The cost of a fast charge battery is higher than a lead-acid battery, but this technology helps in reducing the recharge duration, which in turn increases the number of shifts per day.
Complete report on forklift battery market spread across 60 pages, analyzing 5 major companies and providing 38 data exhibits is now available at http://www.reportsnreports.com/reports/604336-global-forklift-battery-market-2016-2020.html
According to the 2016 forklift battery market report, the improved internet penetration, increasing disposable income, evolving customer needs, and innovative payment methods are driving customers to make purchases online. The convenience and wide range of product offerings results in significant growth in the e-commerce industry, shifting the focus toward the logistic sector. To meet the growing demand by end-users, companies are focusing on expanding their warehouse spaces to increase the range of products.
Increasing number of forklifts in different industries and the environmental benefits that these batteries offer have led to the vast growth of this market over the past five years. Fast chargers and lithium ion batteries, which help overcome the challenges of conventional batteries, are driving the demand for forklift batteries. The Americas account for 37% of the total market share, owing to the recent increase in manufacturing activities in the region. Order a copy of Global Forklift Battery Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=604336
This market research report presents a comprehensive analysis of the key drivers, challenges, and upcoming trends that influence market growth. It also segments the global forklift battery market by end user (warehouse, manufacturing, construction, and others) and by geography (the Americas, APAC, and EMEA).
The warehouse segment will be the largest end-user market segment during the forecast period and will account for an impressive market share of nearly 47% by 2020. The mechanization involved in material handling and improving productivity in warehouses is a major driver for the growth of this segment. With increasing warehouse space, the demand for forklifts is bound to increase to ensure increased productivity. This, in turn, increases the demand for forklift batteries.
The following companies as the key players in the Global Forklift Battery Market: East Penn Manufacturing Co., Inc., Exide Industries Ltd., Midac Batteries S.P.A., Navitas System, LLC Corporate., and Storage Battery Systems, LLC. Other prominent vendors in the market are: Chloride Batteries, Crown Battery, Hoppecke, Johnson Controls, and Trojan Battery.
Global Forklift Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
This report covers the present scenario and the growth prospects of the global forklift battery market for 2016-2020. Further, the report states that one of the major challenges faced by the global forklift battery market is replacements of electric forklifts by fuel cell forklifts.
About Us:
ReportsnReports.com is single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, helps in purchase decision by mapping the information needs with the huge collection of reports.
For more information, please visit http://www.reportsnreports.com/reports/604336-global-forklift-battery-market-2016-2020.html
Contact Info:
Name: Ritesh Tiwari
Email: sales@reportsandreports.com
Organization: ReportsnReports
Phone: + 1 888 391 5441
Release ID: 125296
Copyright © 1999-2013 SproutNews.com
