Manhole Covers Market Growth and Recent Trends by 2028

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.

Manhole covers provide access to underground pipes, meters, and utilities and are used 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 telecommunication 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.

In 2022, Europe held the largest share of the global manhole covers market. The Europe manhole covers market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The construction industry contributes 10% to the GDP of the region. The industry supports the growth of the economy by assisting the supply chain, which creates several business opportunities and services. The construction sector of the EU is a crucial industry as it significantly employs millions of people in the region. Rapid growth in construction activities in Europe increases the demand for manhole covers.

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Manhole Covers Market: Strategic Insights

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Impact of COVID-19 Pandemic on Manhole Covers Market

Before the onset of the COVID-19 pandemic, the manhole covers market was mainly driven by their increasing use in residential and non-residential construction activities. However, the emergence of the COVID-19 pandemic hampered the growth of the chemicals & materials sector, thus hindering the growth of the manhole covers market. The implementation of measures to combat the spread of SARS-CoV-2 negatively impacted the growth of various industries. Builders experienced delays and increased costs for imported raw materials and off-site building materials due to the long-term shutdown of many factories. The damage caused by the impacts of the pandemic on the building & construction industry hampered the demand for manhole covers.

The global marketplace is recovering from the losses caused due to the COVID-19 pandemic, as governments of different countries have announced relaxation in the restrictions. Manufacturers are permitted to operate at full capacity, which helps them to overcome the supply gap. This is expected to create a positive impact on the manhole covers market growth.

Market Insights

Rapid Growth of Construction and Infrastructure Sectors

The demand for manhole covers has been increasing with the rise in construction activities. With the rising population and growing real estate industry, the need for manhole covers has also increased. To cover the drainage line, manhole covers are required. Modern building construction needs an efficient drainage system. It helps the concerned authorities access the storm sewers and sanitary maintenance in a hassle-free way, making it easy for them to get into depth and fix blockages. These manhole covers are important in the building & construction industries to carry out surveys related to underground utilities for equipment maintenance and operatives to enter the system. Apart from the application of manhole covers in drainage systems, they are also used in temporary storage points for water.

Rapid road construction has increased the need for manhole covers of various materials and shapes. Investors' rising awareness regarding environmental protection also drives the need for composite material-based manhole covers in building and construction of drainage systems. Increasing government expenditure and investment to improve domestic infrastructure and sustain economic growth and rising demand for these covers in the construction industry, especially in developing countries, are a few major factors that are driving the market.

Type-Based Insights

Based on type, the global manhole covers market is segmented into metal covers, composite covers, and concrete covers. Composite manhole covers are made of different types and are available in various designs and materials, and each material offers different benefits. These composite manhole covers are made of fiber reinforced plastic; it consists of unsaturated polyester resin, glass fiber, quartz, and two different types of additive such as bulk molding compounds and sheet molding compounds. Fiber reinforced composite manhole covers have a good surface, are wear-resistant, and have a high load bearing capacity.

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.

Report Spotlights

• Progressive industry trends in the manhole covers market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the manhole covers market from 2020 to 2028
• Estimation of global demand for manhole covers
• Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook, as well as factors driving and restraining the growth of the manhole covers market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The manhole covers market size at various nodes
• Detailed overview and segmentation of the market, as well as the manhole covers industry dynamics
• The manhole covers market size in various regions with promising growth opportunities

Global Manhole Covers Market

Based on product type, the manhole covers market is segmented into metal covers, composite covers, and concrete covers. Based on application, the manhole covers market is segmented into municipal, commercial facilities, industrial facilities, and utility pits and others.

Manhole Covers Market Regional Insights

The regional trends and factors influencing the Manhole Covers Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Manhole Covers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Manhole Covers Market Report Scope

Manhole Covers Market Players Density: Understanding Its Impact on Business Dynamics

The Manhole Covers Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Company Profiles

• 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
• Compagnie de Saint-Gobain SA