Surging Demand of Mini Cranes In Material Handling and Logistics Sector Elevates their Sales: Future Market Insights Study
DUBAI, U.A.E., May 20, 2021 /PRNewswire/ -- The global mini cranes market is forecast to expand at a CAGR of over 6.0% throughout the forecast period between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI). The market is anticipated to witness substantial growth on the back of increasing investment in developing commercial and residential infrastructure and high utility of mini cranes in railway depots. The surging acceptance of sustainable, and entertainment friendly energy source have compelled manufacturers to provide towards developing battery operated mini cranes. High initial purchasing cost and short span requirement from user side is promoting the demand for rental services in mini crane market.
Furthermore, spider cranes are capable of performing highly skilled lifting operations and are laced with advance safety features like outrigger interlocks which ensure stabilization of the chassis before any lifting operations. These advance features propels the market sales for mini cranes. Mini cranes are useful in increasing productivity by reducing scheduling time and limiting the manpower requirements and labor issues. Driven by surging demand for compact and advance mini cranes, the global mini cranes market is expected to grow by 2.2 times throughout the forecast period between 2021 and 2031.
"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 favorable growth environment for mini cranes market owing to rising government investment towards expanding the construction sector and consolidate the infrastructure.
- 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.
- Growing inclination of manufacturers in Australia towards incorporating mini cranes in agriculture, forestry and waste management for its high versatility and flexibility will boost the mini cranes market growth.
- Booming construction industry coupled with strong presence of oil and gas industry will fuel the demand for mini cranes in UAE.
- Japan houses some of the leading mini cranes manufacturers in the world. Presence of market leaders in the country will propel Japan towards becoming 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 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 assisting them in gaining 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.
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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)
Key Questions Covered in the Report
- How will the market for mini cranes will expand through 2031?
- Which top manufacturing companies are leading the global mini cranes market?
- What are the key drivers and trends that will stimulate the mini cranes sales?
- What are the challenges that will affect the sales of mini cranes market?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on mini cranes market?
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