Manhole Covers Market Overview
According to the latest updates, the global manhole covers market analysis size is expected to exhibit a significant CAGR of 3.1% along with a market size of USD 5,100 million during the forecast period 2021-2028.
The manhole cover is majorly used to prevent people from falling into it. Manholes are very essential to underground functions such as piping, meters, facilities, and various other functions. These manholes allow access to meters that read liquid flows to sanitary sewer lines. They also allow access to the underground cables and telecom facilities and serve various other functions. The manhole covers have various advantages such as it protects meters and pipes from human invasion. Most of these covers are manufactured with strong and thick metals as they are placed as traffic crosses them and makes them difficult to lift by unauthorized people without using the required tools.
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These covers are produced with various materials like cast iron, ductile iron, concrete, plated steel, or a combination of all, and composite covers which are mostly used to provide reliable and securely restrict entry to foul & surface water drainage systems, and other underground chambers, that need worker access for maintenance purposes. Rising road constructions across the world are predicted to propel the manholes market growth during the review period. Composite covers are the latest trend that is rapidly enhancing product development as they maintain a high strength to weight ratio that allows them to carry the load while it is light in weight. Moreover, they also have a high quality of polymerization, tensile strength, and high density.
The manhole covers market opportunities are growing usage of manhole covers in industrial facilities, municipal facilities, and commercial facilities are accelerating the market growth.
Key players
The key players of Global Manhole Covers Market report include- EJ Group, Inc., Eagle Manufacturing Group, OPW Fibrelite, Crescent Foundry, Aquacast Ltd., Peter Savage Limited, Arcova Ltd., DKG Manhole Covers, Ducast Factory L.L.C, and Polieco Group.
Market Segmentation
The global manholes market is split into two forms types and applications.
Type Segmentation: The manhole covers market types are sectioned into various forms such as metal cap, regenerated resin, high strength steel fiber cement concrete, and others.
Application Segmentation: The manhole covers market based on the application segment is trifurcated into municipal, airports & ports, and others.
Regional Classification
Based on the recent research, the global manhole covers market based on the region is partitioned into four major regions such as Asia-Pacific, Europe, North America, and the Rest of the World. Among them, Asia-Pacific is accounting for the largest market share and is said to be the fastest-growing market due to the rapid economic and infrastructural growth, and rising investments in the construction sector in the China and India regions. Moreover, rising government initiatives for civic and municipal areas are fostering market growth in this region. In addition to that, rising population and increasing real-estate industry, the growing need for manholes as an essential requirement are boosting the market growth in this region.
Recent Development
As per the latest report, the manhole covers market is expected to increase the market growth due to the focus on organic and inorganic growth strategies like product launches, strategic collaborations, mergers & acquisitions. The famous enterpriser, GMI Composites, Inc, a subsidiary of EJ Group, Inc. introduced composite manhole covers and frames using advanced fiberglass reinforced plastics.
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