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Yahoo
03-06-2025
- Business
- Yahoo
Forklift Battery Market Size Expected to reach US$ 9.23 Billion by 2031, Experiences Growth Owing to Expansion of Warehousing and E-Commerce
The global forklift battery market is experiencing steady growth, driven by increasing demand for electric forklifts across industries such as manufacturing, warehousing, logistics, and e-commerce. Valued at approximately USD 5.94 billion in 2024, the market is expected to grow at a CAGR of 6.6% through 2031. Key players in the market include EnerSys, Exide Technologies, East Penn Manufacturing, Crown Equipment Corporation, Trojan Battery Company, BYD, LG Chem, CATL, Samsung SDI, and A123 Systems. US & Canada, June 03, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global forklift battery market is observing significant growth owing to the shift toward electric forklift and rise in industrialization across the globe. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the forklift battery market comprises a vast array of type, capacity, and application which are expected to register strength during the coming explore the valuable insights in the Forklift Battery Market report, you can easily download a sample PDF of the report – Overview of Report Findings Market Growth: The size was valued at US$ 5.94 billion in 2024 and is expected to reach US$ 9.23 billion by 2031; it is estimated to record a CAGR of 6.6% from 2025 to 2031. A forklift battery functions as a vital power source for forklifts and other industrial trucks, supplying the energy required for material handling tasks. These batteries are typically either lead-acid or lithium-ion (Li-ion), with Li-ion gaining preference due to advantages such as faster charging, longer service life, and lower environmental impact. The growing adoption of electric-powered forklifts—valued for their sustainability, lower maintenance, and cost-efficiency over internal combustion engine (ICE) models—has significantly increased the demand for forklift batteries. Expansion of Warehousing and E-Commerce: The e-commerce sector is experiencing robust growth, fueled by increasing internet and smartphone penetration, evolving consumer behavior, and technological innovation. Cross-border online shopping is also gaining traction as consumers look for unique products and competitive prices internationally. According to Eurostat, the share of companies in the EU adopting e-sales strategies rose from 17.21% in 2013 to 23.83% in 2023. To support this growth, many e-commerce companies are expanding their warehousing footprint across Europe. For instance, Amazon launched its first fulfillment center in the Netherlands in August 2023 to enable faster, localized order fulfillment. The boom in e-commerce has created a pressing need for clean, efficient material handling solutions, leading companies like Amazon and DHL to invest in fleets of battery-powered forklifts. Notably, in March 2022, DHL Supply Chain introduced autonomous forklifts at its multiuser warehouse in Bornem, Belgium, as part of its Accelerated Digitalization strategy. These robotic pallet movers enhance warehouse efficiency while reducing carbon emissions. As a result, the growing demand for automated and eco-friendly warehouse operations is significantly increasing the need for high-performance forklift batteries—particularly lithium-ion and lead-acid variants—to support continuous, round-the-clock logistics operations. Regional Overview: North America's forklift battery market is segmented into US, Canada, and Mexico. The North American forklift battery market, encompassing the US, Canada, and Mexico, is witnessing growth driven by increasing construction activity and rising commercial vehicle production. In the US, major automotive manufacturers such as Fiat Chrysler Automobiles, Ford, and General Motors are making substantial investments in commercial vehicle manufacturing. According to the American Automotive Policy Council (AAPC), the U.S. automotive sector contributed $2.64 trillion in value in 2021, accounting for 4.9% of the country's GDP and representing 6% of total manufacturing output. The demand for forklifts—and consequently forklift batteries—is further supported by significant investments in infrastructure. For example, in August 2021, the U.S. Ministry of Transportation and Infrastructure allocated $837 million for a highway expansion project between Alberta and British Columbia. Such projects, involving bridge construction and road expansion, require the use of construction vehicles like forklifts for efficient material handling. As a result, the ongoing development in infrastructure and commercial vehicle manufacturing is fueling the demand for high-performance forklift batteries across the region.. Geographical Insights: Asia Pacific dominated the forklift battery market in 2024. Europe is the second-largest contributor to the global forklift battery market, followed by North America. For Detailed Forklift Battery Market Insights, Visit: Market Segmentation Based on type, the market is segmented into lithium ion, lead acid, and others. The lead acid segment dominated the market in 2024. In terms of capacity, the market is segmented into 0-600 Ahr, 600-1200 Ahr, and above 1200 Ahr. The 0-600 Ahr segment held a larger share of the market in 2024. In terms of application, the forklift battery market is segmented into manufacturing, construction, warehouse & logistics, automotive, retail & wholesale stores, and others. The manufacturing segment dominated the market in 2024. Stay Updated on The Latest Forklift Battery Market Trends: Competitive Strategy and Development Key Players: Major companies operating in the forklift battery market include Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, Crown Equipment Corp, Exide Industries Ltd, EnerSys, East Penn Manufacturing Company, Contemporary Amperex Technology Co Ltd, TotalEnergies SE, Amara Raja Energy & Mobility Ltd, GS Yuasa Corp, leoch International Technology Limited Inc, TAB d.d., and BSL NEW ENERGY THCHENOLOGY CO., LTD. Trending Topics: Forklifts, lithium ion battery, pallet truck, and electric forklift trucks, among others Global Headlines "Exide Industries Ltd has invested an amount of INR 149.99 crore in Exide Energy Solutions through a rights issue. This capital infusion will support the establishment of Exide Energy Solutions' new lithium battery manufacturing facility in Bengaluru, addressing its diverse funding needs.' 'Amara Raja Advanced Cell Technologies Pvt. Ltd (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility Ltd (ARE&M), one of India's leading battery manufacturers, has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd. As part of the agreement, GIB EnergyX will license Gotion's world-class LFP technology for lithium-ion cells to ARACT." Purchase Premium Copy of Global Forklift Battery Market Size and Growth Report (2021-2031) at: Conclusion The rapid expansion of warehousing, driven by the growth of e-commerce and consumer goods sectors across multiple countries, is significantly boosting the demand for forklifts used in material handling operations. Electric forklifts, in particular, are well-suited for indoor environments such as warehouses and factories due to their clean, quiet, and efficient performance. The rise of e-commerce is fueled by greater access to high-speed internet, increased smartphone penetration, and the convenience of diverse payment options through various digital platforms. As a result, the global forklift battery market is experiencing growth, supported by the increasing pace of industrialization and a widespread shift toward electric-powered forklifts. However, market expansion is somewhat restrained by safety and operational challenges. Despite these hurdles, innovations in fast-charging technology and smart battery management systems are opening new avenues for manufacturers. Additionally, the growing adoption of Battery-as-a-Service (BaaS) models is emerging as a key trend, offering scalable and cost-effective solutions for end-users, and is expected to play a crucial role in shaping the market's future. The report from The Insight Partners, therefore, provides several stakeholders—including raw material/component providers, forklift battery manufacturers, forklift manufacturers, after-sales/service providers, and end users —with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. Talk to Us Directly: Trending Related Reports: About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit Mathur E-mail: Phone: +1-646-491-9876 Press Release -
Washington Post
15-02-2025
- Politics
- Washington Post
As Trump administration reforms the EPA, cleanups of America's most toxic sites are uncertain
LOS ANGELES — Just over a mile from where Patricia Flores has lived for almost 20 years, a battery smelter plant spewed toxic elements into the environment for nearly a century. Exide Technologies in southeast Los Angeles polluted thousands of properties with lead and contributed to groundwater contamination with trichloroethylene, or TCE, a cancer-causing chemical. Since Exide declared bankruptcy in 2020, California has invested more than $770 million to clean the various properties. But much more cleanup is needed, and with Donald Trump's return to the White House, those efforts are uncertain. 'The groundwater that was found to have TCE is spreading,' said Flores in Spanish. 'It's not just going to affect us – other people will also be impacted by the contamination. And it is worrying that we won't be added to the priority list for the cleanup to be done.' Residents, environmental advocates and state and federal lawmakers have urged the Environmental Protection Agency to list Exide as a Superfund site, which would unlock federal resources for long-term, permanent cleanup. Last year, the EPA determined the plant qualifies due to TCE in the groundwater, which advocates worry is tainting drinking water. But toxic cleanup experts say the Trump administration could make it harder for hazardous sites to get designated, create a backlog, reduce program funding, and loosen contamination standards. The goal of the Superfund program, begun more than four decades ago, is to clean the nation's most contaminated sites to protect the environment and people – often in low-income and communities of color . After a site is added to the National Priorities List, crews evaluate the contamination, create a cleanup plan and execute it. Once that happens, the EPA deletes the site from the list, which could then be redeveloped. There are currently 1,341 Superfund sites, according to EPA figures from December. While the program has historically received bipartisan support, changes in administration impact how it operates, its funding and oversight. In a statement to The Associated Press, EPA spokeswoman Molly Vaseliou said the agency 'is putting together a leadership team composed of some of the brightest experts and legal minds of their fields, all of whom will uphold EPA's mission to protect human health and the environment. President Trump advanced conservation and environmental stewardship in his first term and the EPA will continue this legacy in his second term.' It's too soon to know how Trump's second presidency will impact the program, but some experts point to his previous term for clues. A backlog of toxic Superfund cleanups grew, even as Trump declared the program a priority while seeking to defund it and the EPA . Vaseliou said Trump's EPA 'cleaned up more toxic sites than its predecessor by fully or partially deleting 82 sites from the Superfund National Priorities List.' The AP previously reported that Trump and a former EPA administrator took undue credit for cleanups when they made similar statements in 2019. It can take decades to clean up a Superfund site, meaning that by the time it's removed from the list a new administration is in power. If Trump seeks to defund the EPA again, it could have big impacts on site cleanups in states with less money. Some states don't have the staff or economic wherewithal to address these sites themselves, 'and so they need the federal government as a partner to do it,' said Michael Blumenthal, co-chair of McGlinchey Stafford's environmental law group, who has represented Superfund cases. 'Polluters pay' taxes, which imposed fees on polluting companies for Superfund cleanups, expired in 1995. They were reinstated with the Biden-Harris administration's Bipartisan Infrastructure Law and Inflation Reduction Act. Many hoped the renewed funding would reverse the decades-long trend of slow clean ups, but some now worry they could be repealed, reducing program funding. Trump has already moved to oust career staff at EPA and other agencies, removed scientific advisers and closed an office that helps minority communities disproportionately struggling with pollution. Granta Nakayama, a lawyer and partner at King & Spalding, said a reduced number of EPA staff will have a 'dramatic effect' because 'you just don't have the bodies to really run the program at the level they've historically operated at.' If the federal government doesn't put in the same effort, state cleanup programs will have to decide if they'll step in to pick up the slack, added Nakayama, who served as EPA assistant administrator for the Office of Enforcement and Compliance Assurance. 'Some states have more political will than others.' In his first term, Trump also rolled back environmental oversight and protections, including for air and the nation's waterways . Trump signaled he could do the same this time when he signed an executive order to repeal 10 regulations for every one that takes effect. Experts say environmental deregulation could weaken the framework that supports Superfund cleanups. Blumenthal said there could be efforts to revise the hazardous ranking system, making it harder for sites to be listed. He also said states like California, awaiting a decision, won't get one straight away. 'It could be months,' he said, adding that sites like Exide could be listed as low priority. Some people working on cleanups are already seeing impacts. Connie Westfall, lawyer and founder of the Westfall Law Firm, has been working on the U.S. Oil Recovery Superfund site in Texas. Her team is waiting on the EPA to sign off on site reports so they can move to the next stage. 'I've never seen anything like it,' she said. 'The delays are costing us money.' Aleja Cretcher, legal fellow for the environmental group Communities for a Better Environment, said they have worked closely with the EPA for years, including on Exide. Losing that support would be a 'backslide.' 'It's been decades of poisoning with no accountability,' she said, 'and everyone deserves clean soil in their yards and clean air, clean water.' ___ The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of AP's environmental coverage, visit .
The Independent
15-02-2025
- Politics
- The Independent
As Trump administration reforms the EPA, cleanups of America's most toxic sites are uncertain
Just over a mile from where Patricia Flores has lived for almost 20 years, a battery smelter plant spewed toxic elements into the environment for nearly a century. Exide Technologies in southeast Los Angeles polluted thousands of properties with lead and contributed to groundwater contamination with trichloroethylene, or TCE, a cancer-causing chemical. Since Exide declared bankruptcy in 2020, California has invested more than $770 million to clean the various properties. But much more cleanup is needed, and with Donald Trump 's return to the White House, those efforts are uncertain. 'The groundwater that was found to have TCE is spreading,' said Flores in Spanish. 'It's not just going to affect us – other people will also be impacted by the contamination. And it is worrying that we won't be added to the priority list for the cleanup to be done.' Residents, environmental advocates and state and federal lawmakers have urged the Environmental Protection Agency to list Exide as a Superfund site, which would unlock federal resources for long-term, permanent cleanup. Last year, the EPA determined the plant qualifies due to TCE in the groundwater, which advocates worry is tainting drinking water. But toxic cleanup experts say the Trump administration could make it harder for hazardous sites to get designated, create a backlog, reduce program funding, and loosen contamination standards. The goal of the Superfund program, begun more than four decades ago, is to clean the nation's most contaminated sites to protect the environment and people – often in low-income and communities of color. After a site is added to the National Priorities List, crews evaluate the contamination, create a cleanup plan and execute it. Once that happens, the EPA deletes the site from the list, which could then be redeveloped. There are currently 1,341 Superfund sites, according to EPA figures from December. While the program has historically received bipartisan support, changes in administration impact how it operates, its funding and oversight. In a statement to The Associated Press, EPA spokeswoman Molly Vaseliou said the agency "is putting together a leadership team composed of some of the brightest experts and legal minds of their fields, all of whom will uphold EPA's mission to protect human health and the environment. President Trump advanced conservation and environmental stewardship in his first term and the EPA will continue this legacy in his second term.' It's too soon to know how Trump's second presidency will impact the program, but some experts point to his previous term for clues. A backlog of toxic Superfund cleanups grew, even as Trump declared the program a priority while seeking to defund it and the EPA. Vaseliou said Trump's EPA 'cleaned up more toxic sites than its predecessor by fully or partially deleting 82 sites from the Superfund National Priorities List." The AP previously reported that Trump and a former EPA administrator took undue credit for cleanups when they made similar statements in 2019. It can take decades to clean up a Superfund site, meaning that by the time it's removed from the list a new administration is in power. If Trump seeks to defund the EPA again, it could have big impacts on site cleanups in states with less money. Some states don't have the staff or economic wherewithal to address these sites themselves, 'and so they need the federal government as a partner to do it,' said Michael Blumenthal, co-chair of McGlinchey Stafford's environmental law group, who has represented Superfund cases. 'Polluters pay' taxes, which imposed fees on polluting companies for Superfund cleanups, expired in 1995. They were reinstated with the Biden-Harris administration's Bipartisan Infrastructure Law and Inflation Reduction Act. Many hoped the renewed funding would reverse the decades-long trend of slow clean ups, but some now worry they could be repealed, reducing program funding. Trump has already moved to oust career staff at EPA and other agencies, removed scientific advisers and closed an office that helps minority communities disproportionately struggling with pollution. Granta Nakayama, a lawyer and partner at King & Spalding, said a reduced number of EPA staff will have a 'dramatic effect' because 'you just don't have the bodies to really run the program at the level they've historically operated at.' If the federal government doesn't put in the same effort, state cleanup programs will have to decide if they'll step in to pick up the slack, added Nakayama, who served as EPA assistant administrator for the Office of Enforcement and Compliance Assurance. 'Some states have more political will than others." In his first term, Trump also rolled back environmental oversight and protections, including for air and the nation's waterways. Trump signaled he could do the same this time when he signed an executive order to repeal 10 regulations for every one that takes effect. Experts say environmental deregulation could weaken the framework that supports Superfund cleanups. Blumenthal said there could be efforts to revise the hazardous ranking system, making it harder for sites to be listed. He also said states like California, awaiting a decision, won't get one straight away. 'It could be months,' he said, adding that sites like Exide could be listed as low priority. Some people working on cleanups are already seeing impacts. Connie Westfall, lawyer and founder of the Westfall Law Firm, has been working on the U.S. Oil Recovery Superfund site in Texas. Her team is waiting on the EPA to sign off on site reports so they can move to the next stage. 'I've never seen anything like it,' she said. 'The delays are costing us money.' Aleja Cretcher, legal fellow for the environmental group Communities for a Better Environment, said they have worked closely with the EPA for years, including on Exide. Losing that support would be a 'backslide." 'It's been decades of poisoning with no accountability,' she said, "and everyone deserves clean soil in their yards and clean air, clean water.' ___ The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of AP's environmental coverage, visit
