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.
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.
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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.
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.
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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.
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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.
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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In coming years,
as the debate on the potential impact of the chemical manufacturing across
industries on the ecology gets fiercer, new monitoring technologies will
emerge. Latest compliance regulations will expand the scope of green
chemistries for businesses in the downstream value chain. Further,
manufacturers in the market will increasingly leverage digital channels to reach
high-value customers. Many will use them to avoid disruption such as by pandemics.
An assortment of
analytics technologies will help in augmenting the commercial productivity.
However, until now, the pace of adoption of digital technologies in the overall
chemicals industry has been relatively slow. It thus remains to be seen how far
the players in the market will be able to unlock long-term productivity
benefits of AI-driven management of various business functions, particularly
research and development and production.
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