Canada forklift battery
market is expected to grow at a rate of steady CAGR for the forecast period,
2023-2027. Increased demand for the forklift truck for various industrial
purposes is accelerating the demand for forklift batteries, and ongoing advancements
in battery technology are the primary factors driving the growth of the Canada
forklift battery market. Also, the growing retail industry and the opening of
new warehouses, and high demand for warehouse owing to the high popularity of
e-commerce channels among consumers is expected to create lucrative growth
opportunities for the Canada forklift battery market in the forecast period.
High Demand for Forklift
Drives the Market Growth
The availability of
high-speed internet connection and the proliferation of smart devices is
playing a major role in boosting the demand of the e-commerce industry among
consumers. The increased expenditure capacity of consumers and rise in the
number of online market players are making the e-commerce market players
develop an efficient supply chain and distribution network. Market players are
opening warehouses to fulfill the needs of the growing e-commerce and retail
industry. These warehouse owners require a forklift to move and organize their
goods in proper places. High demand for forklifts in end-user industries and
the introduction of advanced versions of the forklift into the market by the
forklift manufacturers are expected to accelerate the demand of the Canada
forklift market in the forecast period.
Launch of Electric Forklift is
Expected to Fuel Market Demand
Forklift
manufacturers are introducing an electric forklift version to reduce greenhouse
emissions released in the environment and promote zero-emission vehicles. The
government of Canada is taking strict steps to shift vehicles towards cleaner
fuels and has released strict mandates to achieve zero-emission targets by
2035. Leading authorities have allocated considerable funds to bolster the
adoption of electric vehicles among consumers. Electric motor power electric
forklifts in place of an internal combustion engine using either grid power or
rechargeable forklift batteries; therefore, it is required to start the
forklift truck. They do not emit any harmful pollutants into the environment.
Market players
are making high-end investments for research activities. They are adopting
advanced technologies such as the internet of things, connected devices, and
fleet management in the existing forklift versions, which is expected to push
the sales of forklifts in industries for different work purposes.
Ongoing Infrastructure
Development Projects Supports the Market Growth
Canada boasts of one of the
best infrastructures in the world as it is as par as the standards set up by
high-tech business and international trade. The government of Canada is making
efforts and investments to boost infrastructural development in the country to
improve the quality of life. The Canadian government has lined up several
infrastructure developments projects like GO Expansion – On Corridor, Bruce
Power Refurbishment, Darlington Nuclear Refurbishment, Site C Clean Energy
Project, and many more as a part of their infrastructure development plan.
Forklift trucks are used to transfer bulky materials, which enhances efficiency
and lowers operational costs. A large number of several infrastructure
development projects, and the surging need to optimize operational costs during
construction activities are expected to accelerate the Canada forklift battery
market growth in the forecast period.
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Market Segmentation
The
Canada forklift battery market is segmented into type, application, company,
and regional distribution. Based
on type, the market is divided into lithium ion, lead acid, and others. Based
on application, the market is divided into warehouses, construction, manufacturing,
retail & wholesale stores, and others. The market is also studied by
dividing Canada into regions namely Ontario, Quebec, The West, British
Columbia, Atlantic Canada, and The North.
Market Players
Accumulatorenwerke HOPPECKE
Carl Zoellner & Sohn GmbH, Crown Equipment Corporation, East Penn
Manufacturing Company, Enersys, Exide Industries Limited, Microtex Energy
Private Limited, NITCO, Storage Battery Systems, LLC, Systems Sunlight S.A.,
and TOTAL SA are the major market players operating in the Canada forklift
battery market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Type
·
Application
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Region scope
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Ontario, Quebec, The West, British Columbia, Atlantic Canada, The
North
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Key companies profiled
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Accumulatorenwerke
HOPPECKE Carl Zoellner & Sohn GmbH, Crown Equipment Corporation, East
Penn Manufacturing Company, Enersys, Exide Industries Limited, Microtex
Energy Private Limited, NITCO, Storage Battery Systems, LLC, Systems Sunlight
S.A., and TOTAL SA
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
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Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Canada forklift
battery market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Canada Forklift Battery Market, By Type:
- Lithium ion
- Lead Acid
- Others
- Canada Forklift Battery Market, By Application:
- Warehouses
- Construction
- Manufacturing
- Retail & Wholesale Stores
- Others
- Canada Forklift
Battery Market, By Region:
- Ontario
- Quebec
- The West
- British Columbia
- Atlantic Canada
- The North
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Canada forklift battery market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Canada forklift battery market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]