Manhole Covers Market
Manhole Covers Market (Product: Metal Covers, Concrete Covers, and Composite Covers; and Application: Municipal, Industrial Facilities, Commercial Facilities, Utility Pits, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
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New Covers with Increased Strength Likely to Replace Old Manhole Covers
Manholes provide access to underground piping, meters, and facilities, and are used in a variety of functions underground. They allow access to meters, which read liquid flows to things such as sanitary sewer lines. They allow access to underground cables and telecom facilities, and serve a variety of other functions. The basic reason for a manhole cover is to prevent people from falling into it. It also protects meters and pipes from human invasion. Manhole covers are mostly made of strong and thick metals to keep them in place as traffic crosses them, and make it difficult for unauthorized people to lift without suitable tools. Increasing road constructions across the world is expected to boost the global manhole covers market during the forecast period.
The manhole covers are typically utilized to reliably and securely restrict entry to foul and surface water drainage systems, and other underground chambers, that need worker access for maintenance purposes. They are usually made from cast iron, ductile iron, plated steel, concrete, or a combination of all, composite covers. Presently, composite covers are a rapidly expanding product segment of the global manhole covers market. Composite covers maintain a high strength-to-weight ratio, which allows them to carry the load while being light in weight. In addition, they have a high quality of polymerization, high density, and tensile strength. The growing endurance of cover materials is increasing the demand for cover upgrades, which is most likely to propel the global manhole covers market.
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COVID-19 Impact: Restrictions on Construction, Road Projects Affect Global Market Growth
The spread of the COVID-19 crisis has significantly impacted almost every industry, including road construction. The pandemic has resulted in the halt of several construction projects across the world. Various nations have forced lockdowns, which has seriously impacted the supply chain of raw materials and goods. It has also disrupted the manufacturing sector due to the closure of production plants. Most suburban and industrial construction projects have also been commanded to be shut down. This has hampered the growth of the global manhole covers market. As most projects were put on hold or postponed due to inadequate raw materials and workforce, manhole covers manufacturers are expected to face various challenges with reduced future demand and cash flow constraints. Moreover, the global limitations on construction activities at project sites have affected the trade of goods and services, which resulted in a financial burden on the manufacturers in the manhole covers market.
The start of the COVID-19 pandemic has witnessed laborers migrating back to their native places, which caused further delays in the project completion time. With the fluctuating economy, many investors have shifted their focus toward saving their funds for the unexpected extension of the crisis. However, major leading businesses have started to focus on new development policies and strategy models to address the future demand after the market restores to normal. The current market is progressing toward the end of the pandemic, as governments across the world are rapidly vaccinating their citizens with improved vaccine production rates. Post-COVID-19 pandemic, production is expected to rise to overcome the losses faced during the pandemic. With increasing road construction productivity, the manhole covers market is anticipated to witness a heavy surge during the upcoming future.
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Manhole Covers to Witness Surge in Demand from Utility Pits
Road construction authorities prefer manhole covers based on material, shape, and application. Typical materials for manhole covers include precast concrete, fiberglass, and polyethylene. Distinct manhole cover shapes include hinged flat, detachable flat, hinged dome, removable dome, and highway traffic. A hinged flat manhole cover is assigned to the manhole on top that allows access. The covers are available in various shapes depending on the manhole. The most commonly used covers in street utility applications are the removable covers, which make it easier to access manholes by completely removing them. A hinged dome manhole cover is a rounded design that is attached to a hinge. However, the production orders of manhole covers depend on the factors such as corrosion of metal and the need for their replacement.
The demand for manhole covers has been increasing in various applications including municipal, commercial, and industrial facilities, and is further expected to grow during the forecast period. The municipal utilization of manhole covers includes wastewater collection systems, sewer systems, and storm water systems. Moreover, manhole covers are increasing its demand for facility services such as airports, docks, gas stations, and various other commercial facilities. The manhole covers at fuel and service stations undergo a heavy load on them. Thus, there is heavy demand for durable manhole covers to avoid replacements. Furthermore, the increasing number of utility pits to cover electric utility lines, telecommunication lines, and other underground utilities in power stations and sub-stations is anticipating a rapid increase in growth of the manhole covers market during 2021-2031. However, manhole covers used in utility pits necessitate strength and thermic & electric non-conductivity to avoid accidents.
China Most Likely to Dominate Future Manhole Covers Market in Future
The manhole covers market is primarily propelled by the expanding construction sector. With increasing population and growing real-estate industry, the need for manholes has risen as an essential requirement. Moreover, various governments from developing countries have increased investments to strengthen the municipal system, which is likely to drive the market for manhole covers. Furthermore, in 2020, Asia Pacific has dominated the market shares with China leading the global market. Other developing countries such as India and Japan are projected to witness heavy demand during the forecast period. The global manhole covers market is expected to cross US$ 5 Bn by 2031, expanding at a CAGR of ~3% during the forecast period.
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Due to easy access and safety passage to carry out regular maintenance and servicing of respective utility services and rise in sewer and wastewater systems due to rapid industrialization, there is a heavy requirement of manhole and manhole covers. Furthermore, in case to change the direction of the sewer system and align the sewer system, manhole plays a significant role, which is expected to create more opportunities in the manhole covers market. Moreover, growing demand for manhole covers for public utilities and increasing municipal projects are key factors driving the global market growth. The Asia Pacific is most likely to dominate the manhole covers market.
Manhole Covers Market: Overview
- Manhole covers have been traditionally made from metals, including ductile iron, cast iron, and steel. These covers possess high strength. They are bulky and capable of handling high loads. Manhole covers are used for various applications.
- Concrete manhole covers were introduced as a replacement of metal manhole covers. They are corrosion-resistant and non-conductive. This eliminates the risk of conduction of heat and electricity. They have high strength and are durable. However, they are bulky.
- Currently, composite covers is a rapidly expanding product segment of the global manhole covers market. Composite covers possess high strength-to-weight ratio, which enables them to bear load, while being light in weight. They have high degree of polymerization, high density, and tensile strength.
- According to Transparency Market Research’s latest research report on the global manhole covers market for the historical year of 2020 and the forecast period of 2021 to 2031, rise in usage of manhole covers in municipal facilities, industrial facilities, and commercial facilities is a key factor expected to boost the global manhole covers market during the forecast period
- In terms of revenue, the global manhole covers market is estimated to cross US$ 5 Bn by 2031, expanding at a CAGR of ~3% during the forecast period
Rise in Usage of Manhole Covers in Mining Sector: Key Driver of Manhole Covers Market
- Increase in demand for manhole covers in various applications such as municipal, commercial, and industrial facilities; and rise in usage of manhole covers in utility pits are anticipated to drive the global manhole covers market during the forecast period
- Municipal applications of manhole covers include wastewater collection systems, sewer systems, and storm water systems
- Facilities such as fuel stations, service stations, airports, docks, and ports fall under the commercial facilities segment of the global manhole covers market. Growth in mineral extraction activities is fueling the global demand for manhole covers in mining applications.
- Manhole covers are employed in oil & gas industry, chemical and petrochemical plants, other manufacturing plants, food processing units, etc. Manhole covers belonging to different load classes are used in these applications.
- Manhole covers are used in utility pits to cover electric utility lines, telecommunication lines, and other underground utilities in power stations and sub-stations. These manhole covers need to have strength and thermal and electric non-conductivity in order to avoid accidents.
Increase in Applications of Manhole Covers in Municipal Facilities
- In terms of value, the municipal application segment held dominant share of the global manhole covers market in 2020. Utility pits and others are anticipated to be rapidly expanding application segments of the global manhole covers market during the forecast period.
- The municipal segment is anticipated to continue its dominance in the global manhole covers market during the forecast period. The segment is projected to expand at a moderate pace during the forecast period.
- The outlook for the global construction industry appears positive. This factor is likely to fuel the demand for manhole covers across the globe during the forecast period.
Rise in Applications of Manhole Covers in Industrial Facilities
- In terms of volume, the industrial facilities application segment is estimated to dominate the global manhole covers market during the forecast period
- Manhole covers are employed in various applications such as food processing units, oil & gas industry, other manufacturing plants, and chemical and petrochemical plants. Manhole covers belonging to different load classes are used in these applications. For instance, manhole covers of lighter load classes such as A15 are utilized in walkways and areas for workers. Manhole covers of higher load classes are employed, depending on the need in a facility and the subjected load.
- Thus, application of manhole covers in industrial facilities is projected to be high during the forecast period
Manhole Covers Market: Competition Landscape
- Detailed profiles of providers of manhole covers have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global manhole covers market are
- EJ Group Inc.
- Eagle Manufacturing Group
- Fibrelite Composites Inc.
- Crescent Foundry
- Polieco Group
- Ducast Factory LLC
- Terra Firma Industries
- Hygrade Products Ltd.
- Prime Composites Australia Ply Ltd.
- MC Pipes
- Manhole Covers Limited
Manhole Covers Market: Key Development
- Key providers of manhole covers , such as EJ Group Inc. and Eagle Manufacturing Group, are focusing on various organic and inorganic growth strategies such as mergers & acquisitions, new product launches, strategic collaborations, expansion, and joint ventures to expand their product portfolio and business operations
- GMI Composites, Inc., a subsidiary of EJ Group Inc., extensively manufactures composite manhole covers and frames made from advanced fiberglass reinforced plastics
- Hygrade Products Ltd. manufactures cast iron and ductile iron manhole access covers, grates, and frames. Its products also include hinged, gas, and airtight types of manhole covers.
- In April 2016, MC Pipes acquired Icon-Septech (Victoria) a company engaged in manufacture of municipal products
- In the global manhole covers market report, we have discussed individual strategies, followed by company profiles of providers of manhole covers. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global manhole covers market.
Manhole Covers Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global manhole covers market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global manhole covers market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global manhole covers market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global manhole covers market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global manhole covers market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global manhole covers market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).
This study covers a detailed segmentation of the global manhole covers market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global manhole market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Manhole Covers Market
The report provides detailed information about the global manhole covers market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global manhole covers market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global manhole covers market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of manhole covers?
- What would be the Y-o-Y growth trend of the global manhole covers market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global manhole covers market?
- Which product segment is expected to create lucrative opportunities for the global manhole covers market during the forecast period?
- Which are leading companies operating in the global manhole covers market?
Research Methodology – Manhole Covers Market
The research methodology adopted by analysts for compiling the global manhole covers market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the global manhole covers market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global manhole covers market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global manhole covers market.
Manhole Covers Market – Segmentation
TMR’s research study assesses the global manhole covers market in terms of product, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global manhole covers market.