The global manhole covers market 2020 continued to score well in recent years with the expansion of the construction industry, across the globe. On this, Market Research Future puts a spotlight on the details of the market and comes up with present dynamics. The global manhole covers market will be showing an overwhelming growth at a substantial CAGR and would reach the valuation more than the past years towards the end of the year 2021. The growth of the market is calculated to score during the years from 2016 to 2021 (forecast period).
Key Players
- 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
- Polieco Group
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Market Drivers & Key Challenges
Manhole covers are removable lids that find their applications in several industries as well as in the municipal sector. In the municipal sector, manholes are most commonly used in drainage lines, gas pipelines, and water distribution systems. Moreover, the manhole covers market is serving the huge demand from industries mainly construction, chemical, and polymer & plastic. This factor is primarily working in the favor of the market resulting in unexpected growth in the present time that will continue to the further years as well.
The demand for the manhole covers is surging with the increasing economic development in the developing regions. As several economies are working towards advancing the infrastructural setup and also spending heavily in the construction sector is set to propel the growth of the global manhole covers the market for the assessment period. Even the growing population in both—developed and developing regions has pushed the demand to double digits, which directly influenced the market to achieve its growth.
The increasing initiatives for the government side with an aim to strengthen the civic system mainly in developing regions such as the Asia Pacific is entitled to augment the demand in the global manhole covers market in the future. Adding further, innovations have played a pivotal role by introducing new eco-friendly products along with the reduced weight of manhole covers have also surged the demand of it from all over the world. Even, developments and technological innovations are expected to enter the market in the future to introduce newer materials for the manufacturing of manhole covers that can give a substantial push to the market growth in the forecast period.
When focusing on contrary factors, few restraints might obstruct the growth of the global manhole covers market during its growth period. Factors such as occupational injuries and incidents during repairing and installation of manhole covers are the one that has led the market to slow down its growth momentum. Several cases of stealing and high costing of metal covers also negatively affects the growth of the market. Therefore, to stabilize the growing deterioration of the market, the advent of composite manhole covers and its continuously rising demand scored well in the growth parameter of the market.
Market Segmentation: Manhole Covers
The segmental analysis of the global manhole covers market studied by experts in MRFR reports covered the segments of types and applications.
Depending on types segment, the market includes regenerated resin, high strength steel fiber cement concrete, metal cap, and more.
Depending on the application segment, the market includes Airports & ports, municipal, and more.
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