Manhole Covers Market: Introduction
Transparency Market Research delivers key insights on the global manhole covers market. In terms of revenue, the global manhole covers market is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global manhole covers market.
The global manhole covers market is broadly affected by factors such as corrosion of metal and need for their replacement. The increase in incidence of occupational injuries related to metal manhole covers is anticipated to hamper the global manhole covers market during the forecast period.
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Manhole Covers Market: Dynamics
Rise in usage of manhole covers in various applications such as municipal, commercial, and industrial facilities; and growth in usage of manhole covers in utility pits are likely to augment the global manhole covers market during the forecast period. Municipal applications of manhole covers include wastewater collection systems, sewer systems, and storm water systems. Manhole covers typically included in this segment belong to load classes B125, C250, and D400. Manhole covers belonging to other classes may also be used depending on the extent of load likely to be experienced by them.
Fuel stations, service stations, airports, docks, and ports fall under the commercial facilities segment of the manhole covers market. Service stations and fuel stations experience a wide range of loads on manhole covers, primarily vehicles. Manhole covers belonging to load classes B125, C250, and D400 can be used in service stations and fuel stations. The growth in mineral extraction activities is fueling the global demand for manhole covers in the mining sector.
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Manhole Covers Market: Prominent Regions
Europe is a highly lucrative region of the global manhole covers market. Germany accounted for a substantial share of the manhole covers market in Europe in 2020. The market in the country is likely to expand at a sluggish pace during the forecast period. The market in Russia & CIS is estimated to expand at a rapid pace during the forecast period. Based on product, the composite covers segment dominates the market in Europe, as composite covers have been adopted since a long time in the region.
North America is another major consumer of manhole covers. The rise in demand for composite covers in the region can be ascribed to the need for rehabilitation of old manhole covers in the U.S. Composites are light in weight, durable, and resistant to corrosion caused by road salts used in de-icing during winters. This is an important factor fueling the demand for composite manhole covers in North America.
Asia Pacific accounted for a vital share of the global manhole covers market in 2020. China dominated the market in the region in 2020. It is estimated to hold major share of the market in Asia Pacific during the forecast period. Japan and India are other countries that are anticipated to drive the manholes covers market in the region.
The manhole covers market in Middle East & Africa is likely to expand at a significant pace in the near future, owing to the presence of several municipal, industrial, utility, and commercial facilities in the region.
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Manhole Covers Market: Key Players
The global manhole covers market is fragmented with the presence of a large number of players. Key players operating in the global manhole covers market are EJ Group Inc., Eagle Manufacturing Group, Fibrelite Composites Inc., Crescent Foundry, Saint-Gobain, Polieco Group, Ducast Factory LLC, Terra Firma Industries, Hygrade Products Ltd., Prime Composites Australia Ply Ltd., MC Pipes, and Manhole Covers Limited.
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