Reaching New Heights: Uncovering Growth in the Mini Cranes Market

In 2023, the market for micro cranes is expected to be worth US$422.2 million. Global micro crane sales are anticipated to increase at a 6.0% CAGR over the following ten years (2023 to 2033). The market will probably surpass a valuation of US$ 761 million by 2033.

The micro crane market is predicted to be driven by the rising demand for compact cranes across a variety of industries, including the steel, oil & gas, automotive, construction, and others. Opportunities for expansion will be created by application in glass glazing activities. The global micro crane market is anticipated to grow at a CAGR of 6.0% from 2023 to 2033, according to a study by Future Market Insights.

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Spider cranes will continue to be in great demand among the numerous varieties of micro cranes sold. Their small size and outstanding maneuverability are expected to lead to a rise in their use across a variety of sectors. One of the main end customers is expected to continue to be the construction sector.The market for micro cranes will account for over 65% of sales in 2021.

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.

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 expansion of industries forecast to continue, despite hitting a roadblock amid 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.

Key Players in the Global Mini Cranes Industry

Jekko SRL
MAEDA SEISAKUSHO CO., Ltd.
UNIC-Furukawa Company Ltd.
Manitex International, Inc. (Valla)
Hoeflon International B.V.
Linamar
Microcranes, Inc.
R&B Engineering

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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

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
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Website: https://www.futuremarketinsights.com
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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 stands as 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.