Mini Crane Market Poised for 6.0% CAGR Surge Fueled by Versatile Applications – Insights by Future Market Insights

The growing demand for compact cranes in various industries such as the steel industry, oil & gas, automotive sector, construction, and others is anticipated to drive the mini crane market. Application isn glass glazing activities will create growth opportunities. According to a study by Future Market Insights, the global mini crane market is expected to expand at a CAGR of 6.0% during the forecast period from 2023 to 2033.

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 maneuverability. 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.

Mini cranes are considered ideal solutions for carrying materials during residential construction. It is their specialty to easily access 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.

Maximize Your Industry Knowledge: Dive Deeper with Our Sample Report Insights
https://www.futuremarketinsights.com/reports/sample/rep-gb-13123

While demand from various industries will continue rising, maximum users are likely to prefer rented mini cranes than 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 in the near future.

Key Takeaways of Global Mini Crane Market Study

  • Mini cranes sales will continue rising, enabling the market to reach a valuation of US$ 408.1 Million 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 sales in Europe
  • Germany and France will emerge as other key markets for sale within Europe
  • 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. Implementation of connected technologies is one such example that facilitated remote access and monitor. 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 the 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 application in disaster management and electrical material handling increases.

However, owing to the pandemic impact in the year 2020, mini crane market witnessed a significant drop in sales due to disruption in the supply chain and decrease in demand. Nonetheless, with industrial activities recovering, albeit gradually, mini cranes sales will surge in response.

Who is Winning?

The global mini crane market has been identified as a consolidated market, with top players occupying 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.

Seize this Opportunity for Detailed Market Intel: Purchase Now to Access Comprehensive Segmented Information, Identify Key Trends, Drivers, and Challenges
https://www.futuremarketinsights.com/checkout/13123

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: 
https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these