manhole covers Market

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 underground 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 telecommunications 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. Manhole covers are usually made of strong, thick metal to hold them in place when vehicles drive by and to make it difficult for unauthorized people to lift them without proper tools. Increase in road construction activities is expected to boost the global sewer cover market during the forecast period. Manhole covers are typically used to reliably and safely limit access to wastewater and surface water diversion systems and other underground chambers that require operator access for maintenance purposes. They are usually made of cast iron, ductile iron, galvanized steel, concrete, or any combination of composite materials. Composite covers are the fastest-growing product segment in the global manhole covers market. Composite decks maintain a high strength-to-weight ratio, allowing them to carry loads while remaining lightweight. It also has high polymerization quality, high density, and tensile strength.

Based on application, the manhole covers market is segmented into municipal, commercial facilities, industrial facilities, and utility pits and others. The municipal segment is expected to register the highest CAGR during the forecast period. Manhole covers are defined as removable plates covering the opening of a manhole leading to a sewer or drain. The municipal utilization of manhole covers includes wastewater collection systems, stormwater systems, and sewer systems. Manhole covers are used in drainage lines, gas pipelines, water distribution systems, and many other municipal applications. They are also used for easy and safe passage access to perform regular checking and maintenance services for the respective utility services.

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. A few economically strong European countries such as Germany, the UK, and Russia witnessed significant growth in the construction sector. Rapid growth in construction activities in Europe increases the demand for manhole covers. Manhole covers provide access to underground pipes, meters, and utilities and offer a variety of other underground functions.

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.

The overall global manhole covers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the manhole covers market.