Mini cranes are used to lift materials in plants and factories where larger cranes are not permitted. Mini cranes are thought to be ideal for transporting materials during the construction of a home. It is their specialty to navigate courtyards and easily access cliff edges, which larger cranes cannot do.
According to a study conducted by future Market Insights, the global mini crane market is expected to grow at a CAGR of 6.0 percent from 2021 to 2031. The mini crane market will be strained by rising demand for small cranes in industries such as metals, oil and gas, automobiles, and construction. Glass-glazing sports will have more opportunities.
Spider cranes will be among the most commonly purchased mini cranes. Because of its short length and excellent manoeuvrability, their software is expected to thrive in a variety of industries. The creation quarter is expected to continue to be a major quit user. This quarter will provide nearly 65 percent of mini cranes in 2021.
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Mini crane applications have considerably increased in the past few years, and so has their production across the globe. Although mini cranes are niche products, a substantial increase in demand is expected as a result of their ability to perform well in confined spaces and compact areas.
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 outbreaks, 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 favoring 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.
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Mini-crane sales are expected to increase due to increased demand from various end-use sectors. Japan, the United Kingdom, and the United States are expected to remain among the most profitable markets in the world. Demand is expected to increase in the coming years as applications in disaster management and electrical material handling expand.
However, due to the pandemic impact in the year 2020, the mini crane market saw a significant drop in sales due to supply chain disruption and a decrease in demand. Nonetheless, as industrial activity gradually recovers, mini crane sales will rise 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.
Mini Cranes Market Outlook 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 Crane
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 & Logistic
By Ownership:
- Direct Owned
- Rented
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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About Future Market Insights (FMI)
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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