The global mini cranes market size is projected to be worth USD 422.2 million in 2023. Over the next ten years (2023 to 2033), global mini crane sales are projected to soar at 6.0% CAGR. By 2033, the market is likely to surpass a valuation of USD 761 million.
In 2022, the worldwide mini crane industry was valued at USD 399.8 million. A positive growth trajectory has been predicted by Future Market Insights (FMI) for the target market. This is due to notable industrialization in emerging and established nations.
Mini cranes have emerged as the best solution for construction industry to lift lightweight as well as heavy materials. These versatile material handling solutions can easily lift and move objects or materials in hard-to-access areas.
Mini cranes are compact and feature a small footprint and minimal tail swing. They have the potential to perform various functions in the most demanding places. That’s why they are becoming the epitome of ‘less is more’ in the contemporary construction sector.
The ability of mini cranes to perform smoothing in challenging terrains and limited working spaces will fuel their demand globally during the assessment period.
Mini cranes can work in very different places and confined spaces such as slopes, stairs, and difficult-to-reach places. They have become suitable material handling solutions in remote locations where big cranes would not fit.
Growing usage of mini cranes for construction & renovation, infrastructure development work, and industrial maintenance will boost the global market.
Demand for mini cranes will be driven by increasing number of public infrastructure projects. Governments throughout the world are committed to developing and expanding public infrastructure. As a result, they are launching new projects, bills, and smart city initiatives. This is expected to uplift mini crane demand.
For instance, recently America President Joe Biden signed a USD 1 trillion infrastructure bill to create new jobs, rebuild roads, airports, rails, and bridges, provide high-speed internet access, and address climate concerns.
Similarly, ‘Make in India’ scheme and numerous construction projects in sectors such as energy, roadways, and railways were launched by the Indian government. These new developments will continue to create a conducive environment for the expansion of the mini cranes industry.
Gradual shift towards electric-powered or battery-powered mini cranes will further boost the global market during the assessment period.
To expand their customer base and solidify their position in the market, companies are launching innovative material handling solutions with advanced features. For instance, in 2021 lithium-powered SPX1280 mini crane was introduced by Jekko.
The new SPX1280 model is ideal for material lifting and handling applications and features high-performance and low environmental impact.
In October 2022, Jekko launched SPX328 battery-powered, remote-controlled mini crane that offers a smooth user experience. The new mini crane requires minimum training and is more user-friendly.
Development of such innovative and advanced mini cranes is expected to boost the global market during the next ten years.
| Attributes | Key Insights |
|---|---|
| Estimated Global Mini Cranes Market Size (2023) | USD 422.2 million |
| Projected Global Mini Cranes Market Value (2033) | USD 761 million |
| Value CAGR (2023 to 2033) | 6% |
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The ongoing trend of urbanization and infrastructure development presents significant opportunities for mini cranes. As cities expand and undergo renovations, there is a growing need for lifting equipment that can efficiently operate within the constraints of urban environments.
The rental market for mini cranes is expanding as contractors and businesses seek cost-effective solutions for short-term projects or specific lifting needs which provides significant opportunities.
The adoption of digital technologies such as IoT, AI, and automation in mini cranes provides investment opportunities for companies to enhance their product offerings and improve operational efficiency.
The increasing focus on sustainable development and environmental protection presents investment opportunities for companies that provide eco-friendly mini cranes to their customers.
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From 2018 to 2022, global sales of mini cranes grew at a CAGR of 4.8%, reaching a market size of USD 422.2 million in 2023. Looking ahead, the global mini cranes industry is expected to rise at a CAGR of 6% from 2023 to 2033. Total market size is expected to reach USD 761 million at the end of 2033.
Rising demand for mini cranes from sectors such as construction, logistics, industrial, etc. is a prominent factor driving the global market.
Mini cranes are gaining wider popularity due to their ability to work in compact spaces across various sectors. They perform a wide variety of applications ranging from lifting objects to moving them. Growing usage of mini cranes will continue to boost the global market through 2033.
Rising urbanization and industrialization will also continue to play a key role in uplifting mini crane demand globally.
The ongoing trend of urbanization and infrastructure development presents significant opportunities for mini cranes. As cities expand and undergo renovations, there is a growing need for lifting equipment that can efficiently operate within the constraints of urban environments.
The rental market for mini cranes is expanding as contractors and businesses seek cost-effective solutions for short-term projects or specific lifting needs which provides significant opportunities.
The adoption of digital technologies such as IoT, AI, and automation in mini cranes provides investment opportunities for companies to enhance their product offerings and improve operational efficiency.
The increasing focus on sustainable development and environmental protection presents investment opportunities for companies that provide eco-friendly mini cranes to their customers.
However, market growth may be hindered by the emergence of alternative technologies and the high installation and maintenance costs associated with advanced mini cranes.
Increasing Infrastructure Development Boosting the United States Mini Cranes Industry
| Country | United States |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 138.6 million |
| CAGR from 2023 to End of Forecast (2033) | 6.5% |
The United States mini cranes industry is expected to reach a valuation of USD 138.6 million by 2033. Over the projection period (2023 to 2033), sales of mini cranes in the United States are likely to rise at 6.5% CAGR.
The industrial and manufacturing sectors in the United States are fueling demand for mini cranes. Manufacturing facilities, warehouses, and industrial plants often require mini cranes for various tasks. This includes equipment installation, maintenance, and material handling within confined spaces.
Other factors expected to drive demand for mini cranes in the country include:
Infrastructure development and maintenance play a significant role in driving demand for mini cranes. The United States government has shown a commitment to investing in infrastructure projects, such as road and bridge construction, airport expansions, and energy sector developments.
The infrastructural projects often require the use of mini cranes for efficient and precise lifting and positioning of heavy materials and equipment. Hence, increasing infrastructural development in the United States will shoot up mini crane sales.
The United States is a hub for technological advancements, and the mini cranes industry is no exception. United States-based manufacturers and companies are continuously exploring and adopting new technologies to enhance the performance, safety, and efficiency of mini cranes.
For instance, they are incorporating innovations such as IoT integration, remote monitoring, automation, and advanced control systems. This will positively impact the market growth.
Booming Manufacturing Sector to Elevate Mini Cranes Demand in China
| Country | China |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 32.4 million |
| CAGR from 2023 to End of Forecast (2033) | 5.6% |
China mini cranes industry is anticipated to exceed a valuation of USD 32.4 million by 2033. Total demand for mini cranes in China market is likely to increase at 5.6% CAGR between 2023 and 2033.
Rapid growth of manufacturing sector and increasing demand for advanced material handling tools are key factors driving China market forward.
China's industrial sector is expanding rapidly, with manufacturing facilities, warehouses, and industrial plants requiring mini cranes for material handling and equipment installation.
Similarly, strong presence of leading mini crane manufacturers and availability of rented mini canes will boost the Chinese market. Rising Demand for Safety Features in the GCC Mini Cranes Market
Increasing Adoption in Various Sectors Fueling Sales of Mini Cranes in Japan
| Country | Japan |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 37.6 million |
| CAGR from 2023 to End of Forecast (2033) | 6.1% |
According to Future Market Insights (FMI), Japan mini cranes market is forecast to thrive at a CAGR of 6.1% during the assessment period. By 2033, Japan market size is projected to reach USD 37.6 million.
The market in Japan is predicted to expand because of the increasing adoption of mini cranes in various industries such as power generation, cement, and chemical manufacturing.
Japan has a well-developed construction sector that requires efficient lifting equipment for various tasks, including lifting heavy materials and machinery in confined spaces. Mini cranes provide the necessary lifting capabilities while being able to maneuver easily in tight areas.
Japan's aging infrastructure requires regular maintenance and repair work, which often involves lifting heavy loads in challenging locations. Mini cranes are particularly useful in these situations due to their compact size and ability to access narrow and difficult-to-reach areas.
Further, growing popularity of electric mini cranes is playing a key role in boosting sales in Japan market. Key manufacturers are therefore introducing new electric mini crane models to gain profits.
Spider Crane to Remain the Highly Sought-after Type Globally
As per Future Market Insights (FMI), demand is expected to remain high for spider cranes globally. The target segment is expected to thrive at a CAGR of 6.3% from 2023 to 2033. This is due to various benefits of spider cranes including their cost-effectiveness, high efficiency, low maintenance requirements, and ability to work in extreme conditions.
The spider crane segment has been witnessing significant growth in recent years, driven by various factors. These include increased construction and infrastructure development activities, growing demand for compact lifting solutions, and a focus on safety and efficiency in lifting operations.
Spider cranes, also known as compact cranes or mini-crawler cranes, are specialized lifting machines designed for operation in confined spaces and on rough or uneven terrain. They derive their name from their spider-like appearance, with multiple legs or tracks that provide stability and maneuverability.
Spider cranes are especially beneficial in urban areas where space is limited and larger cranes may not be practical or feasible. They are more versatile and their outriggers are constructed in such a manner that they can stabilize the device when performing on uneven or rough grounds.
The ability of spider cranes to travel over challenging surfaces and perform in confined spaces & compact areas will fuel their demand. This in turn will help spider crane manufacturers to improve their revenues.
Construction Sector to Create Lucrative Growth Prospects for Mini Crane Manufacturers and Suppliers
The construction sector is expected to dominate the global mini cranes industry during the forecast period. It is forecast to exhibit a CAGR of 6.1% from 20223 to 2033, creating lucrative opportunities for mini crane manufacturers. This is due to rising usage of mini cranes in various construction applications.
Mini cranes are particularly useful in construction projects that involve working in confined spaces or at elevated heights. They have become ideal equipment for workers at construction sites to move and lift objects, improve human safety, and reduce need for workers.
Increasing construction activities globally coupled with growing popularity of smart cities is expected to elevate mini crane demand during the assessment period.
The global mini cranes industry is highly competitive, with numerous players concentrating on improving their market share. In such a scenario, key manufacturers of mini cranes must adopt effective strategies to stay ahead of the competition.
Key Strategies Adopted by the Players
Product Innovation
Companies are heavily investing in research and development to design innovative products with improved features. Product innovation enables companies to differentiate themselves from their competitors and cater to the evolving needs of customers.
Strategic Partnerships and Collaborations
Key mini crane manufacturing companies often form strategic partnerships and collaborations with other companies to leverage their strengths and expand their reach in the market. Such collaborations also allow companies to gain access to new technologies and markets.
Expansion into Emerging Markets
The global mini cranes industry is witnessing significant growth in emerging markets such as China and India. Key players are expanding their presence in these markets by establishing local manufacturing facilities and strengthening their distribution networks.
Mergers and Acquisitions
Key players often engage in mergers and acquisitions to strengthen their market position, expand their product portfolio, and gain access to new markets.
Key Players in the Global Mini Cranes Industry
Key Developments:
The global market for mini cranes was valued at USD 399.8 million in 2022.
The global mini cranes market value is expected to reach USD 422.2 million by 2023.
Global mini cranes demand is set to increase at 6.0% CAGR during the assessment period.
The worldwide mini cranes industry is predicted to exceed USD 761 million by 2033.
The construction sector is projected to hold a dominant share of the market.
The United States market is expected to create lucrative opportunities for mini crane companies.
East Asia mini cranes industry is expected to hit a value of USD 65.2 million by 2023.
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
6. Global Market - Pricing Analysis
7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
8. Market Background
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Lifting Capacity
9.1. Up to 1 ton
9.2. 1 to 1.8 ton
9.3. 2 to 2.4 ton
9.4. 2.5 to 4.9 ton
9.5. 5 to 10 ton
9.6. 11 to 22 ton
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
10.1. Spider Crane
10.2. Crawler Crane
10.2.1. Articulated
10.2.2. Telescopic
10.3. Pick and Carry Cranes
11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operation
11.1. Fuel Operated
11.2. Battery Operated
12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Sector
12.1. Industrial
12.1.1. Foundries
12.1.2. Power Plants
12.1.3. Others
12.2. Railway Depots
12.3. Construction
12.3.1. Residential and Commercial
12.3.2. Industrial
12.3.3. Civic Infrastructure
12.4. Facility Management
12.4.1. Commercial
12.4.2. Industrial
12.5. Marine
12.6. Timber and Lumber
12.7. Material Handling and Logistics
13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ownership
13.1. Direct Owned
13.1.1. Direct
13.1.2. Dealers
13.2. Rented
14. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
14.1. North America
14.2. Latin America
14.3. Europe
14.4. Middle East and Africa
14.5. East Asia
14.6. South Asia and Pacific
15. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
18. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
19. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
20. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
21. Country-wise Market Analysis
22. Market Structure Analysis
23. Competition Analysis
23.1. Jekko SRL
23.2. MAEDA SEISHAKUSHO CO., Ltd.
23.3. UNIC-Furukawa Company Ltd.
23.4. Manitex International, Inc. (Valla)
23.5. Hoeflon International B.V.
23.6. Linamar
23.7. Microcranes, Inc.
23.8. R&B Engineering
24. Primary Insights
25. Assumptions and Acronyms Used
26. Research Methodology
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Global Mini Cranes Market
