The scope of our recent study on the "Manhole Covers Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type and Application," includes the factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players and their key developments.
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. The manhole covers market growth can be attributed to the increasing construction activities. The manhole covers market is highly competitive, owing to the presence of many regional and global players. Players compete based on product quality, product differentiation, and price. Market players are adopting different strategies to stand out as strong competitors in the market.
Based on product type, the global manhole covers market is segmented into metal covers, composite covers, and concrete covers. The composite covers segment is expected to register the highest CAGR during the forecast period. Composite manhole covers are of different types and 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 additives 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. Glass reinforced plastic composite manhole covers are strong, lightweight, corrosion resistant, nonthermal and nonconductive and require minimal maintenance.
The global manhole covers market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Europe held the largest revenue share of the global manhole covers market in 2022. Major factors driving the manhole covers market in Europe are the increase in the use of manhole covers in residential and non-residential construction activities, the growth of the construction industry, and the presence of prominent players in the region.
Impact of COVID-19 Pandemic on Manhole Covers Market
Many economies were affected due to the impacts of the COVID-19 pandemic. The COVID-19 outbreak created a temporary distortion in the operational efficiencies of industrial bases. The construction of buildings was negligible across the globe due to the shortage of laborers and the disrupted supply chain of raw materials. However, the global building & construction sector revived with the resumption of operations in 2021, which positively affected the manhole covers market. Further, the surge in construction activities in various countries is bolstering the demand for manhole covers.
The report includes the segmentation of the global manhole covers market as follows:
The global manhole covers market is segmented by product type, application, and geography. Based on product type, the manhole covers market is segmented into metal covers, composite covers, and concrete covers. Based on application, the global manhole covers market is segmented into municipal, commercial facilities, industrial facilities, and utility pits and others. By geography, the global manhole covers market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America manhole covers market is further segmented into the US, Canada, and Mexico. The Europe manhole covers market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific manhole covers market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America manhole covers market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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