DUBAI, UAE, May 20, 2021 / PRNewswire / – The global mini cranes market is expected to grow at a CAGR of over 6.0% over the forecast period between 2021 and 2031, according to ESOMAR-certified consulting firm Future Market Insights (FMI). The market is expected to grow significantly due to increased investment in commercial and residential infrastructure development and the high utility of mini cranes in railroad depots. The increasing acceptance of sustainable and entertainment-friendly energy sources has forced manufacturers to develop battery-powered mini cranes. High acquisition costs and a short demand on the part of the user drive the demand for rental services in the mini crane market.
In addition, spider cranes are capable of performing highly skilled lifting operations and have advanced safety features such as boom locks that ensure that the chassis is stabilized before each lifting operation. These advanced features are driving mini crane sales. Mini cranes are useful for increasing productivity by reducing planning time and limiting manpower and work problems. Due to the increasing demand for compact and advanced mini cranes, the global mini cranes market is expected to grow 2.2-fold in the forecast period between 2021 and 2031.
“The increasing demand for environmentally friendly and compact mini cranes for heavy lifting operations in tight spaces will fuel market growth in the coming years,” says the FMI analyst
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The central theses
- The US is expected to provide a favorable growth environment for the mini crane market due to increased government investment in building sector expansion and infrastructure consolidation.
- The presence of leading market players in the country and the booming heavy industry, construction and automotive industries are fueling demand for mini cranes in the UK
- Growing inclination of manufacturers in Australia The integration of mini cranes into agriculture, forestry and waste management due to their high level of versatility and flexibility will fuel the growth of the mini crane market.
- The booming construction industry combined with the strong presence of the oil and gas industry will fuel the demand for mini cranes in the UAE.
- Japan is home to some of the world’s leading mini crane manufacturers. The presence of market leaders in the country will advance Japan on the way to becoming the largest exporter of mini cranes in the world.
- Battery powered mini cranes are expected to experience tremendous growth due to increased awareness of greenhouse gas emissions and government regulations promoting green options.
FMI introduced some of the leading market players offering mini cranes including Hoeflon International BV, Microcranes, Inc., Promax Access, MAEDA SEISHAKUSHO CO., LTD., Furukawa UNIC Corporation, Manitex Valla Srl, Skyjack (Linamar), R&B Engineering , Jekko srl, BG Lift. Industry giants are striving to develop innovative products and technologies to expand their global position. They form the 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 for competitive advantage.
For example, Palazzani Industrie has launched a new range of first-generation mini crawler cranes with the RPG2900 September 2020. A versatile medium-sized mini crane – SPX650 – was also launched by Italian mini crane manufacturer Jekko August 2020.
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Further insights into the global mini crane market
Future Market Insights offers in its new offering an unbiased analysis of the Mini Cranes market with historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. The study gives compelling insights into the Mini Cranes market with a detailed segmentation based on the load capacity (up to 1 ton, 1 to 1.8 ton, 2 to 2.4 tons, 2.5 to 4.9 tons, 5 to 10 tons, 11 to 22 tons)), type (spider crane, crawler crane, pick -and-carry cranes), operation (fuel-operated, battery-operated), end-use sectors (industry, railway depots, construction, facility management, shipping, timber and sawn timber, material handling and logistics) and ownership (direct ownership, rented) in the main regions (North America, Latin America, Europe, East asia, South asia and Pacific and middle East & Africa)
Important questions addressed in the report
- How will the mini crane market grow through 2031?
- Which Top Manufacturers Lead the Global Mini Crane Market?
- What are the main drivers and trends that will drive mini crane sales?
- What are the challenges that will affect sales in the Mini Crane Market?
- Which region will remain the most lucrative in the forecast period?
- What is the impact of Covid-19 on the mini crane market?
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SOURCE Future Market Insights