Global Forklift Battery Market To Reach $ 7,191. 9 Million By 2026

The global forklift battery market is estimated to generate $ 7,191.9 million by 2026, according to a new research report published by Research Dive. In this case, the market will exhibit a CAGR (Compound Annual Growth Rate ) of 6.6 percent from 2019 to 2026.

Huge growth in demand especially with the pandemic and cloud-based battery innovation are the major factors expected to boost the growth of global forklift battery market during the forecast period.

The lithium ion (Li-ion) segment is expected to generate revenue of $ 1.348.5 million by the end of 2026, with very rapid growth. This is due to integrated features of Li-ion forklift batteries, such as maximum lifespan, low maintenance cost, and high productivity.

The fastest-moving segment is Warehouse; it is expected to generate revenue of $ 1,711.7 million by the end of 2026 and growing at a CAGR of 7.0%. This is due demand for newly invented forklifts increasing logistics efficiency. The retail sector, which is growing day by day, is expected to grow at a tremendous rate due to the growing storage activities on a global scale.

Due to increased construction projects in Europe, the forklift battery market is projected to grow to create lucrative opportunities for investors and generate $ 1,970.6 million. Finally, the presence of integrated inventory and production facilities in the region is projected to increase regional market growth by 2026.

Ceylan Group, with new investments in 2020 and fully focused on production of  Turkey's first electric forklifts. For more information visit our site ceylift.com