The growing demand compact cranes in various industries such as steel industry, oil & gas, automotive sector, construction, and others is anticipated to drive the mini crane market. Application in glass glazing activities will create growth opportunities. According to a study by Future Market Insights, the global mini crane market is expected to expand at a CAGR of 6.0% during the forecast period from 2021 to 2031.
Among various types of mini cranes sold, spider cranes will remain highly sought-after. Their application is forecast to increase in various industries due to their compact size and impressive maneuverability. Construction sector is anticipated to remain one of the key end users. Nearly 65% of mini cranes sold in 2021, will concentrate in this sector.
Mini cranes are considered ideal solutions for carrying materials during residential construction. It is their specialty to easily access edge of cliffs while navigating through courtyards, which bigger cranes cannot do. Within plants and factories, mini cranes are used for material lifting in places where bigger cranes cannot enter.
While demand from various industries will continue rising, maximum users are likely to prefer rented mini cranes than directly owned ones. This is seen as an ideal solution for cost-saving while getting the job done. With expansion of industries forecast to continue, despite hitting a roadblock amid pandemic outbreak, sales of mini cranes are expected to surge in the near future.
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Key Takeaways of Global Mini Crane Market Study
- Mini cranes sales will continue rising, enabling the market to reach a valuation of US$ 408.1 Mn in 2021
- Government stimulus towards construction activities is presenting growth opportunities in the U.S., which will account for over 68% of sales in North America
- Recovering industrial activities is favoring sales in the U.K., which will account for over one-fourth sales in Europe
- Germany and France will emerge as other key markets for sale within Europe
- Presence of some of the leading companies will seal Japan’s dominance in East Asia
“Companies operating in the market are introducing advanced technologies to keep pace with evolving industries. Implementation of connected technologies is one such example that facilitated remote access and monitor. These developments are anticipated to create lucrative opportunities for growth in the future.” says an FMI Analyst.
Demand from various end-use sectors is projected to boost the mini crane sales. Japan, the U.K., and the U.S. are anticipated to remain some of the most lucrative markets around the world. In the coming years, demand is poised to surge as application in disaster management and electrical material handling increases.
However, owing to the pandemic impact in the year 2020, mini crane market witnessed a significant drop in sales due to disruption in the supply chain and decrease in demand. Nonetheless, with industrial activities recovering, albeit gradually, mini cranes sales will surge in response.
Who is Winning?
The global mini crane market has been identified as a consolidated market, with top players occupying majority of the overall share. Some of the key market participants which are included in the report are Manitex Valla S.r.l., Hoeflon International B.V, Skyjack( Linamar), Microcranes, Inc., R&B Engineering, Promax Access, Jekko s.r.l, MAEDA SEISHAKUSHO CO., LTD, BG Lift, Furukawa UNIC Corporation.
Want to Know More?
Future Market Insights has published a market research report on the global mini crane market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in depth analysis of the global mini crane market through different segments, namely by type, by size, application and region. The global mini crane market report also provides supply and demand trends, along with an overview of the parent market.
Scope of the Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for value and Units for Volume|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa|
|Key Countries Covered||US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN, Austalia, GCC Countries, Turkey, North Africa, South Africa|
|Key Segments Covered||By Material, By Type, By Application, By Formulation|
|Key Companies Profiled||Furukawa UNIC Corporation Jekko s.r.l Manitex Valla S.r.l. MAEDA SEISHAKUSHO CO., LTD BG Lift R&B Engineering Promax Access Skyjack( Linamar) Microcranes, Inc. Hoeflon International B.V|
|Report Coverage||Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
Key Questions Answered in the Report
- Which is the most lucrative market for mini cranes? Europe leads the global mini crane market. Increasing production in Italy and other countries will drive growth in the region.
- Which is top-selling mini crane type? Spider cranes are likely to remain most sold types of mini crane. Thanks to their advance technologies and ability to work in small spaces, the demand for spider cranes will continue rising through the coming years.
- Who is the leading end user of mini cranes? Construction sector is expected to remain the key end user of mini cranes. Increasing application in residential and commercial construction projects will drive mini cranes sales.
- Which is the preferred lifting capacity for mini cranes? 2.5 to 4.9 ton capacity is preferred mini cranes for applications in construction, glass glazing, automotive and transportation, and other industries.
- Which country is likely to remain the top producer of mini cranes? Japan is a leading manufacturer of mini cranes and will continue to dominate the market between 2021 and 2031.