Report : Sewer Cable Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Increasing Awareness and Investments in Sewage Infrastructure Drives Sewer Cable Market Growth
According to our new research study on “Sewer Cable Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” the market is expected to grow from US$ 86.06 million in 2021 to US$ 109.16 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.
A poorly implemented and maintained sewage infrastructure could have a profound negative impact on the quality of health and wellness of individuals, especially in densely populated metro cities. In addition, the lack of efficient waste management and collection practices could lead to the spread of various infections and diseases, and society is likely to be exposed to harmful components affecting individuals’ health and compromising public safety. As a result, various government and nongovernment agencies educate the masses about the significance of efficient management of waste as well as maintenance of sewerage infrastructure across commercial and residential units. For this, governments of various economies are investing heavily in developing new sewage infrastructure and upgrading the old ones. For instance, China aims to spend additional fund on rural water projects, and for a range of cleanup projects across the country. Also, the Sedibeng Regional Sewer Scheme—focused on the development of a sewer system in the region to prevent the discharge of raw sewage in the region—was recently launched by the South African government. Thus, favorable investments for the maintenance of aging drain systems by various municipal authorities and supporting government policies are driving the sewer cable market.
North America, especially the US, witnessed an unprecedented rise in the number of COVID-19 cases in 2020 and early 2021. Moreover, the service sector experienced a significant impact of the pandemic owing to the necessity to lay off employees appointed in different service segments across distribution channels, such as retailers, suppliers, distributors, and delivery providers. The federal government in the country did not impose a nationwide lockdown in 2020; however, the governors of a few states decided to impose a lockdown in their respective states. The lockdown hindered the operations of the manufacturing and IT sectors. However, essential industries such as water and wastewater management, and sewer management had to continue their operations. Key cable manufacturers such as Spartan Tool and Duracable continued their operations, with all safety guidelines. Therefore, the sewer cable market in North America witnessed a minimal impact of the COVID-19 pandemic in 2020. Spartan Tool decided to offer free shipping services for its cable and associated products. Therefore, despite the issues faced by manufacturers in terms of delayed shipments due to disrupted logistics and supply chains, they managed to cater to the need of their target audiences amid the pandemic.
By geography, the sewer cable market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW).
Impact of COVID-19 Pandemic on Sewer Cable Market
The APAC area is expected to grow significantly throughout the projection period. Growing populations and increased demand for utility services in countries such as China, India, and Japan among the factors driving Sewer Cable market expansion. In 2020, China led the sewage cable market in APAC, followed by Japan and South Korea. During the COVID-19 pandemic, the purchase orders of new sewer machines decreased due to the low demand for sewage cleaning services.
General Wire Spring Co.; Hongli Pipe Machinery (MAMBACLEANING); Sewer Cable Equipment Company; Coast Manufacturing; Duracable Manufacturing Co.; Electric Eel Manufacturing Co.; RIDGID; Spartan Tool; Trojan Worldwide Inc.; Gorlitz Sewer & Drain, Inc.; The Milwaukee Electric Tool Corporation; MyTana LLC; Wymefa B.V.; REMS GmbH & Co KG; Ken-way.com; Picote Solutions; Cabere GmbH; and Draincables Direct (DCD) are among the major companies operating in the sewer cable market.