According to ESOMAR-certified consulting firm Future Market Insights, the worldwide Mini cranes market is expected to grow at a CAGR of around 6.0 percent between 2021 and 2031. (FMI). The market is expected to rise significantly as a result of increased investment in commercial and residential infrastructure development, as well as the high usability of Mini cranes in railway depots.
The growing popularity of environmentally responsible, entertainment-friendly energy sources has prompted manufacturers to invest in the development of battery-powered small cranes. The need for rental services in the micro crane market is being fueled by high initial purchase costs and short-span requirements from users.
Spider cranes are also capable of conducting highly skilled lifting operations and are equipped with modern safety features such as outrigger interlocks, which assure chassis stabilization prior to any lifting operations. Mini crane sales are boosted by these enhanced characteristics. Mini cranes help increase production by minimizing scheduling time and limiting manpower and labor difficulties. The global small cranes market is predicted to rise by 2.2 times between 2021 and 2031, owing to an increase in demand for compact and innovative mini cranes.
“Increasing demand for eco-friendly and compact mini cranes for performing heavy lifting operations in confined spaces will fuel the market growth in the forthcoming years,” says the FMI analyst
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Key Takeaways
- The U.S. is expected to offer a favorable growth environment for the mini cranes market owing to rising government investment towards expanding the construction sector and consolidating the infrastructure.
- The presence of leading market players in the country along with flourishing heavy engineering, construction, and automotive industries is fueling the demand for mini cranes in the U.K.
- The growing inclination of manufacturers in Australia towards incorporating mini cranes in agriculture, forestry, and waste management for their high versatility and flexibility will boost the mini crane’s market growth.
- The booming construction industry coupled with the strong presence of the oil and gas industry will fuel the demand for mini cranes in UAE.
- Japan houses some of the leading mini crane manufacturers in the world. The presence of market leaders in the country will propel Japan towards becoming the biggest exporter of mini cranes in the world.
- Battery-operated mini cranes are expected to experience tremendous growth due to rising awareness about GHG emissions and government regulations promoting eco-friendly options.
Competitive Landscape
FMI has profiled some of the prominent market players providing mini cranes that include Hoeflon International B.V, Microcranes, Inc., Promax Access, MAEDA SEISHAKUSHO CO., LTD, Furukawa UNIC Corporation, Manitex Valla S.r.l., Skyjack( Linamar), R&B Engineering, Jekko s.r.l, BG Lift. Industry giants are striving towards developing innovative products and technologies to expand their global foothold. They are forming a strategic alliance with local dealers to improve the supply chain and strengthen their market position. Product launches are quickly becoming an integral part of their market expansion strategy assisting them in gaining a competitive advantage.
For instance, a new range of first-generation mini crawler cranes with the RPG2900 was launched by Palazzani Industrie in September 2020. Similarly, a versatile, medium-sized mini crane – SPX650 was launched by Italian mini crane manufacturer Jekko in August 2020.
More Insights on the Global Mini cranes Market
Future Market Insights, in its new offering, provides an unbiased analysis of the mini cranes market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the mini cranes market with a detailed segmentation on the basis of lifting capacity (up to 1 ton, 1 to 1.8 ton, 2 to 2.4 ton, 2.5 to 4.9 ton, 5 to 10 ton, 11 to 22 ton), type (spider crane, crawler crane, pick and carry cranes), operation (fuel operated, battery operated), end use sector (industrial, railway depots, construction, facility management, marine, timber & lumber, material handling & logistics) and ownership (direct owned, rented) across major regions (North America, Latin America, Europe, East Asia, South Asia and Pacific , and Middle East & Africa)
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Mini Cranes Market by category
By Lifting Capacity
- Up to 1 ton
- 1 to 1.8 ton
- 2 to 2.4 ton
- 2.5 to 4.9 ton
- 5 to 10 ton
- 11 to 22 ton
By Type
- Spider Crane
- Crawler Crane
- Articulated
- Telescopic
- Pick and Carry Cranes
By Operation
- Fuel Operated
- Battery Operated
By End-Use Sector
- Industrial
- Foundries
- Power Plants
- Others
- Railway Depots
- Construction
- Residential & Commercial
- Industrial
- Civic Infrastructure
- Facility Management
- Commercial
- Industrial
- Marine
- Timber & Lumber
- Material Handling & Logistics
By Ownership
- Direct Owned
- Rented
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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