North America Forklift Battery Market Size, Share, and Forecast (2021 - 2031) | E-Commerce and Lithium-Ion Adoption Fuel 6.7% CAGR and a US$2.17 Billion Opportunity

Dublin, Oct. 21, 2026 -- "North America Forklift Battery Market Size and Forecast (2021 - 2031)" has been added to ResearchAndMarkets.com's offering.

The North America forklift battery market is projected to reach US$ 2,171.7 million by 2031, rising from US$ 1,389.9 million in 2024. According to the report, the market is expected to record a compound annual growth rate (CAGR) of 6.7% from 2025 to 2031, supported by expanding construction activity, commercial vehicle production, e-commerce growth, warehouse development, and infrastructure investment.

North America Forklift Battery Market Growth Drivers

Investment in automotive manufacturing and commercial vehicle production continues to strengthen demand for forklifts and battery systems across North America. The American Automotive Policy Council (AAPC) reports that Fiat Chrysler Automobiles, Ford, and General Motors have made substantial investments in US commercial vehicle production. The US automotive manufacturing sector generated approximately US$ 2.64 trillion in value in 2021 and contributes more than US$ 1 trillion annually to the national economy.

Construction and infrastructure projects are also increasing the need for material handling equipment. Forklifts are widely used to transport stone, aggregate, equipment, and other materials across construction sites. Infrastructure funding for roads, bridges, airports, railways, and highway expansion is expected to support continued demand for electric forklifts and high-performance forklift batteries.

The market also benefits from the established presence of major battery and material handling companies. Key participants include East Penn Manufacturing Company, EnerSys, GS Yuasa Corp, Exide Industries Ltd, Contemporary Amperex Technology Co Ltd, Crown Equipment Corp, Exide Technologies, and Flux Power Holdings, Inc. These companies are pursuing product innovation, capacity expansion, strategic acquisitions, and other growth initiatives to strengthen their positions in the North America forklift battery market.

Market Segmentation Highlights

• Type: The market is segmented into Lithium Ion, Lead Acid, and Others. Lead Acid batteries accounted for the largest market share in 2024.
• Capacity: Capacity categories include 0 to 600 Ahr, 600 to 1200 Ahr, and above 1200 Ahr. The 0 to 600 Ahr segment led the market in 2024.
• Application: Major applications include Manufacturing, Construction, Warehouse and Logistics, Automotive, Retail and Wholesale Stores, and others. Manufacturing held the dominant share in 2024.

E-commerce and Warehouse Expansion Create New Opportunities

Rapid e-commerce expansion is increasing investment in distribution centers, fulfillment facilities, and automated warehouses. Global online shopping revenue reached US$ 6.01 trillion in 2024 and is projected to exceed US$ 8.9 trillion by 2030. Approximately 22% of global retail sales were expected to occur online by 2025, reinforcing long-term demand for efficient logistics and material handling operations.

Amazon, Walmart, Shopify, and other major retail and e-commerce companies continue to expand their logistics networks to support higher order volumes and same-day delivery services. In 2020, approximately 190 million square feet of warehouse space was under construction in North America, with 45% already leased. In April 2025, Amazon announced a US$ 15 billion plan to expand its warehouse and logistics network by adding around 80 facilities across the US.

This development is accelerating demand for electric forklifts and advanced battery technologies. Lithium-ion batteries are gaining attention across high-utilization warehouse environments because of their longer operating life, faster charging capabilities, and reduced maintenance requirements. However, Lead Acid batteries retained the largest market share in 2024 due to their established use across industrial applications.

United States Leads the Regional Market

The North America forklift battery market covers the United States, Canada, and Mexico, with the United States accounting for the largest share in 2024. Growth in US e-commerce, manufacturing, construction, and logistics operations has supported widespread forklift adoption.

Federal infrastructure spending is expected to create additional market opportunities. Funding approved under the Infrastructure Investment and Jobs Act (IIJA) includes US$ 550 billion for physical infrastructure improvements involving roads, bridges, airports, and railways. The US Federal Aviation Administration also announced US$ 1 billion for infrastructure improvements at 99 airports. Together, these investments are expected to increase material handling requirements and support demand for electric forklifts and reliable battery systems through 2031.

Key Topics Covered:

1. Introduction
1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macroeconomic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country-level data:

4. Forklift Battery Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 List of Vendors in the Value Chain

5. North America Forklift Battery Market - Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact of Drivers and Restraints:

6. Forklift Battery Market - North America Market Analysis
6.1 North America Forklift Battery Market Revenue (US$ Million), 2024 - 2031
6.2 North America Forklift Battery Market Forecast and Analysis

7. North America Forklift Battery Market Revenue Analysis - by Type
7.1 Lithium Ion
7.1.1 Overview
7.1.2 Lithium Ion: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
7.2 Lead Acid
7.2.1 Overview
7.2.2 Lead Acid: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
7.3 Others
7.3.1 Overview
7.3.2 Others: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

8. North America Forklift Battery Market Revenue Analysis - by Capacity
8.1 0 to 600 Ahr
8.1.1 Overview
8.1.2 0 to 600 Ahr: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
8.2 600 to 1200 Ahr
8.2.1 Overview
8.2.2 600 to 1200 Ahr: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
8.3 Above 1200 Ahr
8.3.1 Overview
8.3.2 Above 1200 Ahr: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

9. North America Forklift Battery Market Revenue Analysis - by Application
9.1 Manufacturing
9.1.1 Overview
9.1.2 Manufacturing: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.2 Construction
9.2.1 Overview
9.2.2 Construction: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.3 Warehouse and Logistics
9.3.1 Overview
9.3.2 Warehouse and Logistics: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.5 Retail and Wholesale Stores
9.5.1 Overview
9.5.2 Retail and Wholesale Stores: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)

10. North America Forklift Battery Market - Country Analysis
10.1 North America
10.1.1 North America Forklift Battery Market Revenue and Forecast and Analysis - by Country
10.1.2 United States: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
10.1.2.1 United States: North America Forklift Battery Market Share - by Type
10.1.2.2 United States: North America Forklift Battery Market Share - by Capacity
10.1.2.3 United States: North America Forklift Battery Market Share - by Application
10.1.3 Canada: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
10.1.3.1 Canada: North America Forklift Battery Market Share - by Type
10.1.3.2 Canada: North America Forklift Battery Market Share - by Capacity
10.1.3.3 Canada: North America Forklift Battery Market Share - by Application
10.1.4 Mexico: North America Forklift Battery Market - Revenue and Forecast, 2021 - 2031 (US$ Million)
10.1.4.1 Mexico: North America Forklift Battery Market Share - by Type
10.1.4.2 Mexico: North America Forklift Battery Market Share - by Capacity
10.1.4.3 Mexico: North America Forklift Battery Market Share - by Application

11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape
12.1 Overview
12.2 New Product Development
12.3 Merger and Acquisition
12.4 Other Strategic Developments

Companies Profiled

East Penn Manufacturing Company
EnerSys
GS Yuasa Corp
Exide Industries Ltd
Contemporary Amperex Technology Co Ltd
Leoch International Technology Limited Inc
TotalEnergies SE
Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
Crown Equipment Corp
Amara Raja Energy & Mobility Ltd
TAB d.d.
BSL NEW ENERGY TECHNOLOGY CO., LTD

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