The global forklift market size was valued at USD 58.9 billion in 2022 and is expected to reach 84.5 billion by 2027, at a CAGR of 7.5% during the forecast period 2022-2027, according to Markets and Markets. The electric forklift market, by battery type, is projected to grow at a CAGR of 8.4% during the forecast period. Battery technology is developing rapidly, and advancements in all aspects have been observed in recent years.
This article was first published in the September 15th 2024 issue of Warehouse & Logistics News, subscribe to the magazine by clicking here.
Midac UK has been short-listed as ‘Supplier of the Year’ at the industry’s 2024 Archies Awards by the UK Material Handling Association and attended the prestigious awards in September. The nomination recognises the company’s recent product innovation and specifically Midac’s high efficiency range, which is a lead acid battery with advanced cell chemistry. When paired with a battery management unit (BMU) and a high efficiency intelligent charger, the battery provides a wide range of benefits including charging flexibility, energy efficiencies and longer life.
According to Toyota Material Handling (UK) as fossil fuels are phased out and the electrification of road transport and materials handling fleets gathers pace, energy storage will become one of the biggest challenges facing companies in the supply chain sector. Battery technology is advancing rapidly with the potential of silicone, graphene and sodium batteries all being considered. And Toyota’s ‘Trends in Logistics 2024’ report says there is growing optimism that developments in solid state batteries, could have a positive long-term impact.
Strengthening its position as the world leader in battery recycling and lead production, Ecobat has released its second annual Sustainability Report, which tracks its commitment to integrate sustainability throughout the company, its processes and the products it produces. The report arrives as the energy storage industry works to embrace greater responsibility and reduce the environmental impacts from lead, polypropylene, and lithium-ion batteries, the global demand for which is estimated to increase by approximately 30% annually through 2030. The report, covering the period of January through December 2023, demonstrates Ecobat’s efforts to achieve progress by improving accountability and transparency, as well as codifying processes and baseline data necessary to ensure the highest accuracy.
As part of its work towards carbon neutrality, the European Union’s Green Deal regulates the environmental impacts of industrial activities and calls for energy efficiency and a circular economy. This includes replacing the Battery Directive of 2006 with the new Battery Regulation. “I support the new Battery Regulation, as it represents the first holistic approach to a circular economy for electrochemical energy storage systems,” said Dr Bernhard Riegel, Global Head of Research and Development at Hoppecke.
As battery technology advances, the power sources market is set for continued growth.
George Simpson
Features Editor
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