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Global Fuel Cell Forklift Market

·5-min read

Report Scope: This report analyses different technologies, applications, and regional market development in the fuel cell forklifts market. This report also covers market analysis for countries such as the U.

New York, Aug. 16, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Global Fuel Cell Forklift Market" -
S., China, Japan, and others, where the opportunities for fuel cell forklifts are lucrative. However, deployment data for fuel cell forklifts is not available for all the countries.

The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios.The report also covers leading companies with information on product types, business footprint, revenue, employee strength, etc.

We have also covered a list of other companies in the global and regional market with their product-related information. Aside from this, the analyst has also covered the patent analysis for the fuel cell forklift market.

We have included inflation in the product pricing which is reflected in the market value of the historic year, while the forecasted values are nominal values.

The report also examines the impact of COVID-19 on the global and regional level. 2021 is considered a historic/base year, 2022 is an estimated year, and the market values are forecasted for five years until 2027. All market values are in the dollar ($) million and volume is measured in units.

Report Includes:
- 33 data tables and 16 additional tables
- A brief general overview of the global markets for fuel cell forklifts within the industry
- Analyses of the global market trends, with market revenue for 2021, estimates for 2022, 2024, and 2026, along with the projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size for fuel cell forklift technology, market forecast in value and volumetric terms, and corresponding market share analysis based on technology type, application, power capacity, and region
- Updated information on market opportunities and drivers, key shifts and regulations, industry specific challenges, and other region-specific macroeconomic factors that will shape this market demand in the coming years (2022-2027)
- Coverage of the technological, economic, and business considerations of the fuel cell forklift market and its vendor landscape
- Discussion of the industry value chain analysis providing a systematic study of key intermediaries involved, with emphasis on recent developments and regulations and standards for fuel cell forklifts
- Review of registered patents filed on various technologies for fuel cell forklifts during 2020-2022, and their corresponding patent share analysis
- Insight into the company competitive landscape featuring top players in the eco-structure of fuel cell forklift industry, their recent market developments and key strategies adopted
- Descriptive company profiles of the leading global players, including Air Liquide S.A., Hyster-Yale Materials Handling Inc., Kion Group AG, and Plug Power Inc.

Fuel cells are the future technology which can alter the conventional energy sources such as gasoline, diesel, LPG, and others, in the coming decades.Fuel cells are being used in the material handling industry as these cells are more efficient than the conventional technologies.

Fuel cell forklifts require only 2-3 minutes to refuel.While traditional battery-powered forklifts require around 3-5 hours to recharge the battery.

The battery swapping is also a time consuming task requiring labor and hoisting systems. Currently, the spendings for battery-powered forklifts are high compared to fuel cell forklifts. But, in ten-yearoperational time periods, fuel cell forkliftswill be the less costly option to consumers, as
opposed to battery-powered forklifts. Therefore, retail industry companies such as Amazon and Walmart are using these forklifts to gain long termbenefits as they are experiencing an increase in their productivity.

According to BCC Research estimations, the global value of fuel cell forklifts is expected to reach REDACTED, with a CAGR of REDACTED, by the end of forecast period. The U.S. is projected to dominate in the global market, in terms of value, during the forecast period, as hydrogen fuel has been a viable option in this country

Reasons for Doing This Study:
Fuel cell is a clean energy technology and can be used as green fuel in many industries, from automotive to medical to electronics.Pollution levels are increasing at an alarming rate and greenhouse gases have started to damage the environmental structure.

Most countries are working towards the development and commercialization of clean fuels such as hydrogen, which does not emit any kind of harmful gases after burning.Historically, the material handling industry has been an important sector in GDP development for all countries.

By using nonrenewable fuels, such as LPG, diesel, and gasoline, significant levels of harmful gases are generated which can affect the health of those working in warehouses and factories.Therefore, forklift users are also shifting to the use of battery power forklifts; however, these forklifts require a dedicated space in the warehouse for battery storing, recharging, and swapping.

For warehouses, retailing centers, plants, factories, and others, productivity is the key criteria for generating revenue. Therefore, forklift users are showing interest in using fuel cell forklifts as they take less time to refuel and the overall expenditure for these forklifts is comparatively less over a 10-year period.

Due to these changes and the rising adoption of hydrogen-powered forklifts, BCC has decided to analyze the market and measure the impact of these advanced forklifts on the conventional forklift market.
Read the full report:

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