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 manoeuvrability. The 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.
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Mini cranes are considered ideal solutions for carrying materials during residential construction. It is their speciality to easily access the 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 to directly owned ones. This is seen as an ideal solution for cost-saving while getting the job done. With the expansion of industries forecast to continue, despite hitting a roadblock amid the pandemic outbreak, sales of mini cranes are expected to surge shortly.
Key Takeaways from 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 favouring sales in the U.K., which will account for over one-fourth of sales in Europe
- Germany and France will emerge as other key markets for sale within Europe
- The 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. The implementation of connected technologies is one such example that facilitated remote access and monitoring. 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 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 an application in disaster management and electrical material handling increases.
However, owing to the pandemic impact in the year 2020, the mini crane market witnessed a significant drop in sales due to disruption in the supply chain and a decrease in demand. Nonetheless, with industrial activities recovering, albeit gradually, mini crane sales will surge in response.
Who is Winning?
The global mini crane market has been identified as a consolidated market, with top players occupying the 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
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Want to Know More?
Future Market Insights has published a market research report on the global mini crane market that contains a global industry analysis for 2016–2020 and an opportunity assessment for 2021–2031. The report provides an depth analysis of the global mini crane market through different segments, namely by type, size, application and region. The global mini crane market report also provides supply and demand trends, along with an overview of the parent market.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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