Asia Pacific Region Expected to Spearhead the Global Manhole Covers Market
Manhole covers are also referred to as pit lids or access covers. Manhole covers are used to shut the openings of manholes to prevent people from falling into them and injuring themselves. Materials used for the manufacturing of manhole covers include metals, concrete and composites. The global manhole covers market is anticipated to grow at a stellar rate during the assessment period. There are many factors contributing to the ascension of the manhole covers market. Population across the globe has been observed to grow at an alarming rate, leading to better municipal and civic amenities necessities.
Furthermore, a rise in the urban construction and the construction of roads and other facilities such as airports is anticipated to surge at a steady rate. Such growth in the construction sector is also projected to push the global manhole covers market. Moreover, rehabilitation of old and damaged infrastructure is likely to create new growth avenues for the global manhole covers market during the forecast timeline. With a burgeoning real-estate industry, the need for manhole covers has ascended drastically. Increased government initiatives to strengthen the civic system in many countries situated in the APAC is also likely to promote market growth through the review period.
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Market Segmentation
The global manhole covers market has been segmented by MRFR on the basis of types, application, and region. Based on types, the manhole covers market is segmented into metal cap, regenerated resin, and high strength steel fiber cement concrete. Based on application, the market segmentation for manhole covers includes municipal and airports & ports.
Regional Analysis
The APAC region is anticipated to spearhead the global manhole covers market owing to its speedily mushrooming market across the globe. Asia Pacific is expected to garner substantial growth throughout the forecast period owing to its rapid infrastructural and economic growth. China and India are seen investing heftily in the construction sector, contributing to its fast ascension. Such proliferation of the construction sector is estimated to push the global manhole covers market to a great extent. Further, expansion of other end-use industries such as oil & gas, petrochemicals, telecom, and chemicals is also surging growth in the manhole covers market during the assessment period.
Similarly, North America is observed to garner staggering growth during the forecast period of 2016 to 2021, with Europe and Rest of the World following the same trend. Although, the market growth in these two regions is likely to be sluggish as they already are mature markets for manhole covers.
Competitive Landscape
The global manhole covers market is observed to appear fragmented with a large number of local players operating in regional markets. The competition among major players is likely to be fierce due to the tender-based nature of the manhole covers industry.
The global manhole covers market is heavily driven by the expansion activities undertaken by many market giants. Some of these noteworthy players in the global manhole covers market are mentioned in the MRFR report including EJ Group, Inc., Eagle Manufacturing Group, OPW Fibrelite, Crescent Foundry, Aquacast Ltd., Peter Savage Limited, Arcova Ltd., DKG Manhole Covers, Ducast Factory L.L.C, and Polieco Group.
May 2nd, 2019, OPW, a pioneering leader in fluid-handling solutions, announced about the introduction of its all new OPWlite GRP composite tank sumps and manhole covers. These are engineering to offer a cost-effective solution for typical petrol stations. The all new range is non-corrosive in nature, lightweight, maintenance-free. All the covers can be safely and quickly removed with the use of OPWs ergonomic lifting handle.
April 23rd, 2019, Al Zamil Industry, a Saudi Arabian-based trade and transport organization, announced that it is showcasing its horizontal tasks, a new generation of manhole covers that are made up of composite materials, and filtration units at the Gulf Construction Expo in Bahrain.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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