Forklift Battery Market - Global Forklift Battery Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031 - (By Battery Type, By Voltage Coverage, By End User Coverage, By Geographic Coverage and By Company)

Description

The Global Forklift Battery Market is forecasted to experience notable growth in the coming years, with a market value surpassing USD 5.6 billion in 2023 and expected to reach USD 10.9 billion by 2031. This expansion is projected to occur at a compound annual growth rate (CAGR) of 6.4% between 2024 and 2031.

Overview of the Forklift Battery Market

The forklift battery market has steadily expanded due to key factors such as the growth of warehousing facilities, increased automation, and the rise of e-commerce. While the COVID-19 pandemic caused a temporary slowdown, the market has since rebounded, driven by global economic recovery.

Environmental Regulations and Battery Technology Advancements

A growing focus on sustainability is fueling the demand for lithium-ion (Li-ion) batteries in the forklift sector. These batteries are more environmentally friendly, offering quicker charging times, extended lifespans, and higher energy density compared to traditional lead-acid batteries. This shift towards Li-ion technology aligns with environmental regulations promoting cleaner energy solutions.

Despite the advantages, there are challenges. Li-ion batteries come with higher upfront costs, and the infrastructure required for charging them remains a significant barrier. However, as industries continue to automate warehouse operations, the need for efficient and reliable Li-ion batteries will grow. Ongoing technological innovations aim to improve performance, lower costs, and increase energy density.

Market Dynamics: Pre-Pandemic vs. Post-Pandemic

Forklift batteries are crucial for the material handling equipment industry. Before the pandemic, market growth was driven by warehouse expansion, increased automation in manufacturing, and the boom in e-commerce. This spurred demand for forklifts and, in turn, forklift batteries.

However, the COVID-19 pandemic in 2020 caused significant disruptions, including a drop in industrial activity due to lockdowns. In North America, for example, Class 4-8 industrial truck production fell by 30% due to economic challenges. Despite these setbacks, the market has shown resilience and is recovering as economic activities resume and e-commerce continues to expand.

Key Growth Drivers

1. Focus on Efficiency and Sustainability

Forklift batteries are vital for enhancing efficiency in warehouses and manufacturing plants. Li-ion batteries, in particular, offer significant benefits over lead-acid batteries, such as faster charging times, longer service lives, and higher energy density, which results in less downtime and increased productivity.

Additionally, environmental awareness is influencing businesses' decision-making processes. Many companies are seeking eco-friendly solutions to minimize their carbon footprints, and Li-ion batteries align well with these sustainability goals. Regulatory frameworks promoting greener practices further support the transition to Li-ion technology.

2. Electrification of Forklifts

The shift towards electrification in forklifts is primarily driven by the need to reduce carbon emissions and address environmental concerns. The adoption of electric forklifts is increasing across various sectors, including warehousing, retail, e-commerce, and food and beverage industries.

Battery-powered forklifts offer advantages such as lower operating costs, zero emissions, and smoother performance. Improvements in battery technology have led to longer operating times, quicker charging, and reduced maintenance requirements, further boosting the demand for electric forklifts. Although diesel-powered forklifts were once dominant, electric models are gaining popularity for both indoor and outdoor use.

Challenges in the Forklift Battery Market

1. Higher Initial Costs of Li-ion Batteries

While Li-ion batteries provide long-term cost savings through reduced maintenance and extended lifespans, their higher initial cost can deter some businesses, particularly those in cost-sensitive industries.

2. Infrastructure Requirements for Li-ion Battery Charging

The widespread adoption of Li-ion technology requires significant investment in charging infrastructure, such as charging stations, heat management, and handling systems. These infrastructure costs pose a challenge for companies considering the transition to Li-ion batteries.

Emerging Trends and Opportunities

1. Warehouse Automation

The growing trend of automation in warehouses is creating new opportunities for the forklift battery market, particularly for Li-ion batteries. Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) rely heavily on efficient power sources to operate effectively.

Lead-acid batteries struggle to meet the demands of automated systems due to their longer charging times and shorter lifespans. In contrast, Li-ion batteries provide faster charging, greater energy density, and longer lifespans, making them ideal for supporting continuous operations in automated environments.

2. Advancements in Battery Technology

Ongoing advancements in battery technology are driving the forklift battery market's future. Innovations focus on faster charging times, greater energy density, and reduced costs, which could significantly enhance the performance of Li-ion batteries.

Researchers are exploring new electrode materials that could reduce charging times to a matter of minutes, revolutionizing warehouse operations. Additionally, improved energy density would enable forklifts to run longer on a single charge, boosting operational efficiency.

Regulatory Impact on the Forklift Battery Market

Environmental regulations significantly influence the forklift battery market. Governments are encouraging the use of cleaner energy technologies, which promotes the adoption of Li-ion batteries. These regulations aim to curb carbon emissions, making the eco-friendly profile of Li-ion batteries increasingly appealing.

However, regulatory challenges exist, such as the lack of standardization in Li-ion battery formats, which can result in compatibility issues and slow down market adoption. Furthermore, regulations regarding battery disposal and recycling infrastructure are still evolving, creating additional hurdles to widespread Li-ion adoption.

Key Market Segments

1. Li-ion Batteries Leading the Market

Li-ion batteries are expected to maintain their leadership position in the market, despite the continued presence of lead-acid batteries due to their lower initial costs. Li-ion batteries are becoming more popular due to their superior performance, longer lifespan, and faster charging capabilities.

While lead-acid batteries are known for their reliability, cost-effectiveness, and minimal maintenance, the trend is shifting towards Li-ion batteries, particularly in industries requiring high-efficiency power sources.

2. Demand from Warehousing and Manufacturing

Warehousing and manufacturing sectors are the largest consumers of forklift batteries. The rapid growth of e-commerce and the increasing automation in these sectors are driving demand for advanced batteries, especially Li-ion technology.

Electric forklifts are gaining popularity in these sectors due to their low noise, minimal heat output, lower costs, and pollution-free operation. Additionally, the plastic components of used forklift batteries can be recycled to produce new battery casings, contributing to environmental sustainability.

Regional Outlook: Asia Pacific in the Lead

Asia Pacific is expected to dominate the forklift battery market, largely due to the expanding manufacturing sector in countries like China and India. The e-commerce boom in the region further accelerates demand for forklifts and batteries. Governments are promoting industrial automation and green technologies, creating favorable conditions for Li-ion battery adoption.

Competitive Analysis

The forklift battery market is highly competitive, with established companies adapting to the Li-ion trend and new players introducing innovative solutions. Key market participants include Exide Technologies, GS Yuasa, BYD Company, and LG Chem, among others.

Market Segmentation of the Forklift Battery Market

By Battery Type:

Li-ion
Lead-acid
Nickel-cadmium

By Voltage:

24 Volts
36 Volts
48 Volts
72 Volts

By End User:

Manufacturing Industry
Warehouses
Construction Sites
Retail and Wholesale Stores

By Region:

North America
Latin America
Europe
South Asia & Oceania
East Asia
Middle East & Africa

1. Executive Summary

1.1. Global Forklift Battery Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2018 - 2023

3.1. Global Forklift Battery Market Production Output, by Region, Value (US$ Mn) and Volume (Tons), 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2018 - 2023

4.1. Global Average Price Analysis, by Battery Type, US$ Per Tons, 2018 - 2023
4.2. Prominent Factor Affecting Forklift Battery Prices
4.3. Global Average Price Analysis, by Region, US$ Per Ton

5. Global Forklift Battery Market Outlook, 2018 - 2031

5.1. Global Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Lithium-Ion
  - 5.1.1.2. Lead Acid
  - 5.1.1.3. Hydrogen Fuel-Cell
5.2. Global Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Chemical
  - 5.2.1.2. Food & Beverage
  - 5.2.1.3. Industrial
  - 5.2.1.4. Logistics
  - 5.2.1.5. Retail & E-Commerce
  - 5.2.1.6. Others
5.3. Global Forklift Battery Market Outlook, by Region, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa

6. North America Forklift Battery Market Outlook, 2018 - 2031

6.1. North America Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Lithium-Ion
  - 6.1.1.2. Lead Acid
  - 6.1.1.3. Hydrogen Fuel-Cell
6.2. North America Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Chemical
  - 6.2.1.2. Food & Beverage
  - 6.2.1.3. Industrial
  - 6.2.1.4. Logistics
  - 6.2.1.5. Retail & E-Commerce
  - 6.2.1.6. Others
6.3. North America Forklift Battery Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S. Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. U.S. Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Canada Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Canada Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Forklift Battery Market Outlook, 2018 - 2031

7.1. Europe Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Lithium-Ion
  - 7.1.1.2. Lead Acid
  - 7.1.1.3. Hydrogen Fuel-Cell
7.2. Europe Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Chemical
  - 7.2.1.2. Food & Beverage
  - 7.2.1.3. Industrial
  - 7.2.1.4. Logistics
  - 7.2.1.5. Retail & E-Commerce
  - 7.2.1.6. Others
7.3. Europe Forklift Battery Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Germany Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. U.K. Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. U.K. Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. France Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. France Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Italy Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Italy Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.9. Turkey Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.10. Turkey Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.11. Russia Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.12. Russia Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.13. Rest of Europe Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 7.3.1.14. Rest of Europe Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Forklift Battery Market Outlook, 2018 - 2031

8.1. Asia Pacific Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Lithium-Ion
  - 8.1.1.2. Lead Acid
  - 8.1.1.3. Hydrogen Fuel-Cell
8.2. Asia Pacific Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Chemical
  - 8.2.1.2. Food & Beverage
  - 8.2.1.3. Industrial
  - 8.2.1.4. Logistics
  - 8.2.1.5. Retail & E-Commerce
  - 8.2.1.6. Others
8.3. Asia Pacific Forklift Battery Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. China Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. China Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. Japan Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. Japan Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. South Korea Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. South Korea Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. India Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. India Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Southeast Asia Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Southeast Asia Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.11. Rest of Asia Pacific Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 8.3.1.12. Rest of Asia Pacific Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Forklift Battery Market Outlook, 2018 - 2031

9.1. Latin America Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Lithium-Ion
  - 9.1.1.2. Lead Acid
  - 9.1.1.3. Hydrogen Fuel-Cell
9.2. Latin America Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Chemical
  - 9.2.1.2. Food & Beverage
  - 9.2.1.3. Industrial
  - 9.2.1.4. Logistics
  - 9.2.1.5. Retail & E-Commerce
  - 9.2.1.6. Others
9.3. Latin America Forklift Battery Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.2. Brazil Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.3. Mexico Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.4. Mexico Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.5. Argentina Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.6. Argentina Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.7. Rest of Latin America Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 9.3.1.8. Rest of Latin America Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Forklift Battery Market Outlook, 2018 - 2031

10.1. Middle East & Africa Forklift Battery Market Outlook, by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Lithium-Ion
  - 10.1.1.2. Lead Acid
  - 10.1.1.3. Hydrogen Fuel-Cell
10.2. Middle East & Africa Forklift Battery Market Outlook, by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. Chemical
  - 10.2.1.2. Food & Beverage
  - 10.2.1.3. Industrial
  - 10.2.1.4. Logistics
  - 10.2.1.5. Retail & E-Commerce
  - 10.2.1.6. Others
10.3. Middle East & Africa Forklift Battery Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.2. GCC Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.3. South Africa Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.4. South Africa Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.5. Egypt Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.6. Egypt Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.7. Nigeria Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.8. Nigeria Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.9. Rest of Middle East & Africa Forklift Battery Market by Battery Type, Value (US$ Mn) and Volume (Tons), 2018 - 2031
  - 10.3.1.10. Rest of Middle East & Africa Forklift Battery Market by End Use, Value (US$ Mn) and Volume (Tons), 2018 - 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2022
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Crown Equipment Corporation
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. East Penn Manufacturing Company
  - 11.3.2.1. Company Overview
  - 11.3.2.2. Product Portfolio
  - 11.3.2.3. Financial Overview
  - 11.3.2.4. Business Strategies and Development
- 11.3.3. Enersys
  - 11.3.3.1. Company Overview
  - 11.3.3.2. Product Portfolio
  - 11.3.3.3. Financial Overview
  - 11.3.3.4. Business Strategies and Development
- 11.3.4. Amara Raja Batteries Ltd.
  - 11.3.4.1. Company Overview
  - 11.3.4.2. Product Portfolio
  - 11.3.4.3. Financial Overview
  - 11.3.4.4. Business Strategies and Development
- 11.3.5. Exide Industries Limited
  - 11.3.5.1. Company Overview
  - 11.3.5.2. Product Portfolio
  - 11.3.5.3. Financial Overview
  - 11.3.5.4. Business Strategies and Development
- 11.3.6. Hyundai Construction Equipment
  - 11.3.6.1. Company Overview
  - 11.3.6.2. Product Portfolio
  - 11.3.6.3. Financial Overview
  - 11.3.6.4. Business Strategies and Development
- 11.3.7. Flux Power
  - 11.3.7.1. Company Overview
  - 11.3.7.2. Product Portfolio
  - 11.3.7.3. Financial Overview
  - 11.3.7.4. Business Strategies and Development
- 11.3.8. Storage Battery Systems, LLC
  - 11.3.8.1. Company Overview
  - 11.3.8.2. Product Portfolio
  - 11.3.8.3. Financial Overview
  - 11.3.8.4. Business Strategies and Development
- 11.3.9. Navitas System, LLC
  - 11.3.9.1. Company Overview
  - 11.3.9.2. Product Portfolio
  - 11.3.9.3. Financial Overview
  - 11.3.9.4. Business Strategies and Development
- 11.3.10. Saft
  - 11.3.10.1. Company Overview
  - 11.3.10.2. Product Portfolio
  - 11.3.10.3. Financial Overview
  - 11.3.10.4. Business Strategies and Development
- 11.3.11. Microtex Energy Private Limited
  - 11.3.11.1. Company Overview
  - 11.3.11.2. Product Portfolio
  - 11.3.11.3. Financial Overview
  - 11.3.11.4. Business Strategies and Development
- 11.3.12. Southwest Battery Company
  - 11.3.12.1. Company Overview
  - 11.3.12.2. Product Portfolio
  - 11.3.12.3. Financial Overview
  - 11.3.12.4. Business Strategies and Development
- 11.3.13. Shenzhen Herculesi Technology Co., Ltd.
  - 11.3.13.1. Company Overview
  - 11.3.13.2. Product Portfolio
  - 11.3.13.3. Financial Overview
  - 11.3.13.4. Business Strategies and Development
- 11.3.14. Electrovaya
  - 11.3.14.1. Company Overview
  - 11.3.14.2. Product Portfolio
  - 11.3.14.3. Financial Overview
  - 11.3.14.4. Business Strategies and Development
- 11.3.15. EnerSys
  - 11.3.15.1. Company Overview
  - 11.3.15.2. Product Portfolio
  - 11.3.15.3. Financial Overview
  - 11.3.15.4. Business Strategies and Development
- 11.3.16. Optima Batteries
  - 11.3.16.1. Company Overview
  - 11.3.16.2. Product Portfolio
  - 11.3.16.3. Financial Overview
  - 11.3.16.4. Business Strategies and Development
- 11.3.17. Eternity Technologies FZ-LLC
  - 11.3.17.1. Company Overview
  - 11.3.17.2. Product Portfolio
  - 11.3.17.3. Financial Overview
  - 11.3.17.4. Business Strategies and Development
- 11.3.18. Systems Sunlight S.A.
  - 11.3.18.1. Company Overview
  - 11.3.18.2. Product Portfolio
  - 11.3.18.3. Financial Overview
  - 11.3.18.4. Business Strategies and Development
- 11.3.19. NITCO
  - 11.3.19.1. Company Overview
  - 11.3.19.2. Product Portfolio
  - 11.3.19.3. Financial Overview
  - 11.3.19.4. Business Strategies and Development
- 11.3.20. Midac Batteries SpA
  - 11.3.20.1. Company Overview
  - 11.3.20.2. Product Portfolio
  - 11.3.20.3. Financial Overview
  - 11.3.20.4. Business Strategies and Development
- 11.3.21. Crown Battery
  - 11.3.21.1. Company Overview
  - 11.3.21.2. Product Portfolio
  - 11.3.21.3. Financial Overview
  - 11.3.21.4. Business Strategies and Development

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations