Lead-Acid Batteries or Lithium Battery for Electric Forklift?

Forklift Sales & Rental Market Trends: 2024 Global Overview

In 2024, the global forklift market has seen remarkable growth, with electric forklifts leading the charge. Here’s a breakdown of the market shares:

• Electric Forklifts: Represent approximately 66% of the global forklift market, valued at USD 39.89 billion.
• ICE (Internal Combustion Engine) Forklifts: Account for 34% of the market, valued at USD 5.76 billion.

Forklift Rental Market Trends in 2024

Electric forklifts dominate the rental market, with a 69.1% market share, reflecting the growing demand for cost-efficient, eco-friendly forklift rentals.

Everything You Need to Know About Diesel & Electric Forklifts

Forklifts are essential in various industries however, choosing the right forklift—diesel, or electric with lead-acid or lithium—can be challenging. Whether you're considering forklift sales or looking for the best forklift rental options, each type offers unique benefits depending on your operational needs, budget, and environment. Let’s explore the forklift comparison to help you decide which model best fits your needs in terms of sales and rental options.

Lead-Acid Battery vs Lithium-Ion Battery for Electric Forklifts

Making the right choice for your rental or purchase to boost efficiency and lower costs.

Electric forklift batteries play a crucial role in performance, cost-efficiency, and uptime. Whether you're renting or buying, understanding the difference between lead-acid and lithium-ion batteries helps you choose the best forklift foryour rental or purchase to boost efficiency and lower costs. Each battery type offers unique benefits that impact charging time, maintenance, and long-term value.

1. Cost

• Lead-Acid: Lower upfront cost, making them more affordable initially.
• Lithium-Ion: Higher upfront cost, but lower total cost of ownership over time.

2. Maintenance

• Lead-Acid: Requires regular maintenance, such as watering and cleaning. More moving parts means higher maintenance costs.
• Lithium-Ion: Maintenance-free—no need for watering or regular upkeep.

3. Charging Time

• Lead-Acid: Charging time can take 8+ hours, often requiring long breaks to fully charge.
• Lithium-Ion: Fast charging—typically 1-2 hours, and opportunity charging is possible without damaging the battery.

4. Battery Lifespan

• Lead-Acid: Typically lasts 1,000–1,500 cycles, with performance degradation over time.
• Lithium-Ion: Offers a longer lifespan—2,500–5,000+ cycles, with sustained performance.

5. Weight

• Lead-Acid: Heavy and bulky, which can affect forklift maneuverability and add to the overall weight.
• Lithium-Ion: Lightweight and compact, improving forklift handling and reducing energy consumption.

6. Energy Efficiency

• Lead-Acid: Less energy efficient, with slower charging times and a lower overall energy return.
• Lithium-Ion: Highly energy-efficient, offering quicker charge times and better power-to-weight ratios.

7. Emissions

• Lead-Acid: No direct emissions during use but recycling the batteries can have an environmental impact.
• Lithium-Ion: Zero emissions during use and more eco-friendly over time due to longer lifespan and recyclable components.

Key Trends Driving Battery Innovation in Forklifts

1. Over 35% of new electric forklifts sold globally in 2024 were powered by lithium-ion batteries.
   1. Expected to surpass 50% adoption rate by 2027.
2. Sustainability Demands:
   1. Companies are pursuing net-zero targets, making lithium-powered forklifts attractive due to zero emissions and energy efficiency.
3. Cost of Ownership (TCO):
   1. Despite higher upfront cost, lithium-ion batteries outperform lead-acid in long-term ROI thanks to longer lifespan and lower operating costs.
4. Rental Market Influence:
   1. Rental companies increasingly prefer lithium-ion models due to ease of maintenance, longer usage hours, and higher customer demand.

Lead-Acid’s Decline

• Lead-acid still holds a large share of the installed base but is gradually being phased out.
• Many large fleets are no longer considering lead-acid in new forklift purchases due to downtime and labor-intensive maintenance.

Conclusion:

• Lead-Acid is suitable for low-cost initial investment and simple operations.
• Lithium-Ion is ideal for businesses looking for higher efficiency, faster charging, and low maintenance in the long run, especially for multi-shift operations or rental businesses.

Streamline Your Projects with the Perfect Rental Equipment at Antbuildz.com  
 
Antbuildz.com, the First and Largest B2B Equipment Rental Marketplace in the region that offers thousands of unique equipment across hundreds of categories. Why choose when you can rent different types of forklifts with us? You can easily get instant prices and quotations with three steps - Search, Compare, and Rent! May it be for a single day or a few months, every equipment rental made through Antbuildz.com is covered by the Antbuildz Protection Plan, which provides up to S$30,000 or RM60,000 in first-loss coverage and it is FREE!   

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