Rapid Growth of Construction and Infrastructure Sectors to Escalate Manhole Covers Market Growth during Forecast Period
According to our latest market study on “Manhole Covers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type and Application,” the manhole covers market size is expected to grow from US$ 3,857.79 million in 2022 to US$ 5,129.38 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028. The report highlights key factors driving the manhole covers market growth and prominent players along with their developments in the market.
Manhole covers provide access to underground pipes, meters, and utilities and are used underground for a variety of functions. For instance, it provides access to a meter that reads the liquid flowing into the sewer. They provide access to underground cables and telecommunications facilities and have a variety of other functions. The main purpose of the hatch cover is to prevent people from falling into the hatch cover. It also protects the meter and pipeline from human intrusion.
Global Manhole Covers Market Breakdown – by Region
Manhole Covers Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Metal Covers, Composite Covers, and Concrete Covers) and Application (Municipal, Commercial Facilities, Industrial Facilities, and Utility Pits and Others)
Manhole Covers Market Share, Demand and 2028 Forecast
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Manhole covers are usually made of strong, thick metal to hold them in place when vehicles drive by and to make it difficult for unauthorized people to lift them without proper tools. An increase in road construction globally is expected to boost the global sewer cover market during the forecast period. Manhole covers are typically used to reliably and safely limit access to wastewater and surface water diversion systems and other underground chambers that require operator access for maintenance purposes. They are usually made of cast iron, ductile iron, galvanized steel, concrete, or any combination of composite coatings. Composite covers are currently the fastest-growing product segment in the global manhole covers market.
The key players operating in the global manhole covers market include John Bouchard & Sons Co, EJ Group Inc, Neenah Foundry Co, LF Manufacturing Inc, Eagle Manufacturing Corp, Fibrelite Composites Inc, Industrie Polieco–Mpb Srl, Terra Firma Industries Pty Ltd, Crescent Foundry Co Pvt Ltd, and Compagnie de Saint-Gobain SA. Players operating in the global manhole covers market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
Impact of COVID-19 Pandemic on Manhole Covers Market
The unprecedented rise in the number of COVID-19 cases across the globe and the subsequent shutdown of numerous manufacturing facilities hampered the manhole covers market growth. The construction sector was severely affected due to delays in projects, labor shortages, increased material costs, and supply chain delays that reduced the demand for manhole covers. However, the market is reviving due to significant measures, such as vaccination drives, taken by governments of various countries. The rising vaccination rate is boosting the construction industry’s overall growth. The growing government investments in road construction are expected to provide lucrative opportunities for the global manhole covers market growth in the coming years.
The report includes the segmentation of the global manhole covers market as follows:
The global manhole covers market is segmented into product type, application, and geography. Based on product type, the manhole covers market is segmented into metal covers, composite covers, and concrete covers. Based on application, the global manhole covers market is segmented into municipal, commercial facilities, industrial facilities, and utility pits and others. By geography, the global manhole covers market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America manhole covers market is further segmented into the US, Canada, and Mexico. The Europe manhole covers market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific manhole covers market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America manhole covers market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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