Research and Markets - Global Forklift Battery Market CAGR Growth of 8.1% by 2020 - Trends, Technologies & Opportunities Report 2016-2020 - Key Vendors: East Penn Manufacturing, Exide Industries, Trojan Battery
The report forecasts the global forklift battery market to grow at a CAGR of 8.1% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: 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.
According to the 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.
What will the market size be in 2020 and what will the growth rate be?
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