Europe Leads Global Manhole Covers Market in 2023, Boosted by Strong Construction Industry and Infrastructure Projects

The Insight Partner

The manhole covers market size is projected to increase from US$ 3,857.79 million in 2022 to US$ 5,129.38 million by 2028

NEW YORK, UNITED STATES, April 11, 2023 /EINPresswire.com/ -- According to a recent market analysis, Europe held the largest share of the global manhole covers market in 2022. The region's construction industry, which contributes 10% to its GDP, has been a significant driver of this growth. The European manhole covers market is segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe.

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Several economically strong European countries such as Germany, the UK, and Russia have witnessed significant growth in the construction sector, leading to increased demand for manhole covers. In 2021, the governments of these countries initiated several major infrastructure projects, including the A303/A30/A358 Road Corridor Improvement in the UK, the E39 Herdal-Royskar Motorway in Norway, the Nizhnekamsk-Naberezhnye Chelny Bypass in Russia, the Banja Luka-Prijedor-Novi Grad Motorway in Bosnia and Herzegovina, and the Llogara Tunnel in Albania.

These government-led initiatives have created a ripple effect throughout the supply chain, creating several business opportunities and services, further bolstering the demand for manhole covers in the region. With a robust construction industry and continued investments in infrastructure projects, the European manhole covers market is expected to see sustained growth in the coming years.

Manhole Covers Market: Competition Landscape

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

The use of composite manhole covers is increasing rapidly as they are a better alternative to iron or metal covers. Composite covers are resistant to corrosion, cracking, and fracture, and they do not conduct electricity. They also reduce noise and radio frequency interference and block rainwater from seeping into underground tanks through the soil. Due to these innovative features, composite manhole covers have a high demand in electricity power stations, railway stations, gas/oil filling stations, and other urban development projects. The manhole covers market is segmented based on product type into metal covers, composite covers, and concrete covers. The composite covers segment is expected to register the highest CAGR during the forecast period due to their various designs and materials offering different benefits. The manhole covers market is also segmented based on application 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 due to their usage in wastewater collection systems, stormwater systems, sewer systems, and other municipal applications.

The COVID-19 pandemic had a negative impact on the manhole covers market growth due to adverse effects on the building and construction industry. However, with the resumption of operations in 2021, the building and construction sector has been revived, positively impacting the manhole covers market growth. The key players operating in the manhole covers market focus on providing high-quality products to meet customer demand. They also invest in research and development activities, launch new products, and expand production capacities to increase their market share.

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Surging Use of Composite Manhole Covers

Composite manhole covers are widely used as a substitute for iron or metal covers. Composite covers are not corroded by gases, water, crack, or fracture and they do not conduct electricity. Furthermore, composite manhole covers block rainwater seeping into underground tanks through the soil. Traditional cast iron and steel products produce noises due to improper installation. Composite manhole covers reduce noises and cause minimal radio frequency interference. Composite manhole covers have demand in electricity power stations, railway stations and lines, or gas/oil filling stations. These innovative features of composite manhole covers make them a better option for urban development, which, in turn, is anticipated to drive the manhole covers market during the forecast period.

Manhole Covers Market: Segmental Overview

Based on product type, the 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. Moreover, glass reinforced plastic composite manhole covers are strong, lightweight, corrosion resistant, nonthermal and nonconductive and require minimal maintenance.

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.

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