![]() ![]() Key Segments in Forklift Battery Industry Researchįorklift battery manufacturers are focusing on expanding their business scope by increasing their production capacity and launching new products that are incorporated with advanced technologies. The market in Asia Pacific accounts for 30% share of the global forklift battery industry.The Europe forklift battery market currently accounts for a significant market share of 45%.High cost of lithium-ion batteries is projected to have a restraining effect on overall demand for forklift batteries.Growing focus on sustainability, subsidies for the use of electric industrial equipment, advancements in battery technology, and rapid industrialization are expected to primarily drive market growth over the coming years. ![]() By 2032, the market is estimated to reach a valuation of US$ 44.7 billion. ![]()
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