Lithium-Ion Adoption Gains Momentum
Clearly, 2020 is a momentous year. In the midst of the many challenges posed by an ongoing global pandemic, companies are now, more than ever before, looking to make competent operational decisions on a day-to-day and long-term basis. The new technological advances in the lithium-ion battery technology market are something you may have been keeping an eye on. Compared to just a few years ago, there is a compelling move to increase our use of reliable and efficient lithium-ion batteries in more and more products.
A Growing Market For Lithium-Ion Technology and Forklifts
According to research agency Report Linker, the global forklift market is a force to be reckoned with. “It was valued at $4.3 billion in 2018, and is projected to reach $7.4 billion by 2026, growing at a CAGR of 7.04% from 2019 to 2026. Lithium ion technology is named as one of the leading factors driving this market shift, alongside more centralised warehousing systems and online sales growth.
The report explains: “A fuel cell is a viable alternative in such a scenario and its use in batteries is growing extensively. Therefore, the increase in popularity of fuel cell-based forklift significantly drives the growth of the market.”
We don't know about you, but certainly these impressive growth figures make for interesting reading. If you can, we advise that you spend time reading the complete report. Analysis includes a sector-by-sector breakdown which can be read here.
Ever Evolving Products and Lithium Ion Technology
It seems that the nature of the modern world in which we live focuses on ever-evolving products and technology. And with the climate crisis increasingly at the forefront of our minds, it's opportune to hear experts predicting that mass market expansion for this energy-efficient technology is just around the corner.
According to Forktruck Solutions Surveys, 82% of customers will definitely consider lithium-ion powered trucks in their next renewal. Will you be one of them?
What Has Been Driving The Move To Lithium-ion Technology?
This transformation has been driven by an increasingly urgent climate crisis. Continued shifts to using cleaner energy sources at all levels and consideration for the future of energy storage solutions put lithium-ion battery technology at the forefront as it provides sustainable changes to how we store and consume energy. Lithium-ion batteries have already been widely used in the production of electric vehicles and this increasingly lucrative market is going from strength to strength. In the material handling market, the lithium-ion technology improved and the batteries became popular primarily with entry-level pallet trucks, some of which were introduced by EP Equipment in 2016.
You may have been aware that some of the larger products were very expensive to purchase with lithium ion battery power at their core. But all of this is set to change now, with the development of new trucks built on years of technological advances, produced on a larger scale and benefiting from economies of scale.
Recent Legislation To Keep In Mind
Euro Stage V legislation rules lower emission limits for Particular Matter (PM) and Particulate Number (PN) are required in engines between 19 kW and 560 kW, according to the International Council on Clean Transportation.
The newer restrictions demand that manufacturers reduce PM emissions to just 0.015g/kWh – a 40% reduction from Stage IV.
In response to this change in legislation, designs have become more complex and include engines which aren’t reliant on diesel particulate filters (DPF). Though these trucks may deliver power and are EU-compliant, they can be expensive to purchase. As a result, this could mean that moving to lithium-ion models could be more cost effective.
What Are The Main Advantages Of Using Lithium-Ion Batteries?
- Lithium batteries are a cleaner technology and are therefore more environmentally friendly
- In general, li-ion batteries have a longer lifespan than lead acid.
- Opportunity charging: li-ion gives your warehouse or workplace real flexibility
- Lighter weight – li-ion batteries are around a third of the weight of lead acid
- Higher efficiency: li-ion is 95% efficient, which means that most of the energy stored can actually be used
- Faster charging – li-ion only takes 2-3 hours to charge, which reduces downtime
- Zero maintenance – li-ion batteries don’t require active maintenance
What Equipment Does EP Offer That Are Lithium-Ion Powered?
EP has a range of easy-to-use and comparatively spacious lithium-ion powered forklifts at a fraction of the cost of other trucks. There are many benefits to this technology that EP Equipment benefits from, as we noted throughout this article. Lithium ion trucks are available in sizes that can load up to 5 tons while offering zero on-site emissions. We felt it might be helpful to feature a small selection of EP products that might fit your business.
The EFL181 is designed to replace diesel forklifts in businesses across the world. It is the next-generation entry-level forklift from EP, with an integrated charger that can be used at every standard power outlet. This forklift is great for small companies and those which simply need occasional use of a forklift. It has an on-board charger so it really can be charged anywhere.
EP has spent the last 10 years developing a next generation model after the EPT 20-15ET. The new pallet truck comes with a newly-developed lithium-ion technology battery and a integrated charger. It’s a compact truck which means it’s suitable for many business settings including warehouses and logistics.
The JX0 from EP Equipment is the new generation stock picker of 2017. The main advantage compared to its competitors is its extremely stable mast and the intuitive user interface. Its strength is smaller volume order picking as well as retail environment work.
For more information about any of these EP products, you can see our products page.