Global Electric Forklift Lithium Battery Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Electric Forklift Lithium Battery market size was valued at US$ 26960 million in 2024 and is forecast to a readjusted size of USD 38730 million by 2031 with a CAGR of 5.4% during review period.

Electric forklift lithium battery is an energy storage device used in electric forklifts. Compared with traditional lead-acid batteries, it has many significant advantages.

First, the life cycle of electric forklift lithium battery is usually more than 3000 charge and discharge cycles, far exceeding the 500 to 1000 cycle life of lead-acid batteries. Some high-quality lithium batteries, such as lithium iron phosphate batteries, can last for 5 to 10 years, greatly reducing the frequency of battery replacement and operating costs.

Second, the energy conversion efficiency of lithium batteries is as high as more than 95%, which can convert more stored energy into usable energy and reduce energy waste. In contrast, the efficiency of lead-acid batteries is about 80% to 85%.

In addition, lithium batteries support opportunity charging and can be quickly charged in a short time, such as during lunch breaks, greatly reducing downtime and improving work efficiency. Lead-acid batteries require 8 to 12 hours to charge.

Finally, lithium batteries are lighter and smaller in size, which contributes to more user-friendly and efficient equipment design. Lithium batteries are usually only 1/4 the weight of lead-acid batteries of the same capacity, and only about 1/3 the volume of lead-acid batteries.

Lithium batteries are suitable for high-intensity, multi-shift operation scenarios, such as airports, large-scale storage and logistics centers, etc. In these scenarios, the fast charging and high efficiency characteristics of lithium batteries can give full play to their advantages and keep the vehicle working at full load and uninterruptedly.

As the demand for cleaner and more sustainable operations continues to grow, the demand for electric forklifts is also increasing. Electric forklifts require reliable and efficient battery systems to power their operation, which directly promotes the application and development of lithium batteries in the field of electric forklifts.

Many countries and regions have introduced a series of environmental protection regulations and policies to restrict or prohibit the use of highly polluting batteries such as lead-acid batteries in industrial vehicles such as electric forklifts. This has prompted companies to turn to more environmentally friendly and efficient lithium batteries.

Continuous breakthroughs and innovations in lithium battery technology, such as increased energy density, faster charging speed, and enhanced safety, have made the application of lithium batteries in electric forklifts more extensive and reliable.

Although the initial investment cost of lithium batteries is high, their long life, low maintenance cost and high efficiency make them more cost-effective in long-term use. As the scale of lithium battery production expands and the technology matures, its cost is gradually decreasing.

Electric forklifts are increasingly widely used in different industries and fields, such as warehousing and logistics, manufacturing, etc. These industries have different performance requirements for electric forklifts, which has promoted the continuous innovation and diversified development of lithium battery technology.

Although lithium battery technology has made significant progress, it still needs to be further improved in some aspects. For example, there is still room for improvement in battery cycle life, safety, charging efficiency, etc.

Although lithium batteries have many advantages in the field of electric forklifts, some users still have a wait-and-see attitude towards the performance and safety of lithium batteries. This affects the promotion and application of lithium batteries in the electric forklift market.

This report is a detailed and comprehensive analysis for global Electric Forklift Lithium Battery market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Electric Forklift Lithium Battery market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Electric Forklift Lithium Battery market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Electric Forklift Lithium Battery market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Electric Forklift Lithium Battery market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Electric Forklift Lithium Battery

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Electric Forklift Lithium Battery market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include EnerSys, Hitachi Chemical (Showa Denko), GS Yuasa, East Penn Manufacturing, Exide Industries, Amara Raja, MIDAC, Sunlight, TAB, Crown Battery, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Electric Forklift Lithium Battery market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type

LiCoO2 Battery

NMC/NCA Battery

LiFePO4 Battery

Others

Market segment by Application

Warehouses

Factories

Distribution Centers

Others

Major players covered

EnerSys

Hitachi Chemical (Showa Denko)

GS Yuasa

East Penn Manufacturing

Exide Industries

Amara Raja

MIDAC

Sunlight

TAB

Crown Battery

Saft

Electrovaya

Flux Power

FAAM (Seri Industrial)

Tianneng Battery Group

LEOCH

Shandong Sacred Sun Power Sources

Aokly Group

Zibo Torch Energy

BSLBATT

Yantai Goldentide Unikodi Battery

Jiangsu Frey New Energy

Toyota

OneCharge

JB Battery

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Electric Forklift Lithium Battery product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Electric Forklift Lithium Battery, with price, sales quantity, revenue, and global market share of Electric Forklift Lithium Battery from 2020 to 2025.

Chapter 3, the Electric Forklift Lithium Battery competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Electric Forklift Lithium Battery breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Electric Forklift Lithium Battery market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Electric Forklift Lithium Battery.

Chapter 14 and 15, to describe Electric Forklift Lithium Battery sales channel, distributors, customers, research findings and conclusion.