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. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Manhole Covers Market.
Global Manhole Covers Market - Overview
The global manhole covers market is expected to and reach USD 4.6 Million at the end of the forecasted period and is expected to show a staggering growth at a CAGR of 2.90% from 2019 to 2026. The manhole covers market is expected to witness steady growth over the forecast period. The growth of the market is influenced by the increasing private construction, increasing airports/ports renovations and expansion activities and increased government initiatives to strengthen civic systems.
There is seen an increased private construction activities in the U.S. Construction spending is on pace to notch the sixth year in a row of increased construction spending, according to U.S. Census Bureau data. Other government data also show an increase in employment of workers in the construction sector. With increased private construction activities, there is an increased requirement of sewage systems to accommodate the additional construction and resultant waste. This in turn will fuel the market for Manhole Covers Market.
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There are various government programs to improve the sewage systems in the country. For instance, U.S. Environmental Protection Agency (EPA) initiated the Water Infrastructure and Resiliency Finance Center in January 2015 to work with states to identify financing strategies for drinking water, wastewater, and stormwater infrastructure. EPA is additionally taking enforcement action at municipal sewer systems with Clean Water Act violations to reduce pollution and volume of stormwater runoff and to reduce unlawful discharges of raw sewage that degrade water quality in communities. This induces the demand for manholes and covers in the country.
Manhole Covers Market Size structures become important to the construction of airports/ports as these structures on airfield pavements are required to be designed to support the aircraft loadings in accordance with the guidelines. Manholes in the runway safety areas and in pavements for the larger airports are required to be designed for a 100,000-lb. wheel load. Some manholes and covers are being designed for an H-20 highway load instead of the most critical aircraft. The normal highway manholes and manhole covers for H-20 loadings are designed for a wheel load of 16,000 lbs. The manhole or structure designed for H-20 loadings will fail under these aircraft loadings. This induces the demand for manhole covers in the airport/ports application market.
Additionally, there are lower labor costs involved, construction can be done quicker and there is less to no waste produced. This makes it a cost effective alternative with comparatively lesser wastage and has proved to be an environment friendly construction solution. This also have the positive influence on the growth of the market.
However, in many countries, for construction, people generally use traditional buildings methods rather than using the new technology, mainly due to the lack of awareness regarding trending technologies. This can hinder the market growth.
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Global Manhole Covers Market - Segments
Global Manhole Covers Industry is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type: Comprises – Metal cap, Regenerated resin, High strength steel fiber cement concrete, and others.
Segmentation By Application: Comprises – Municipal, Airport ports, and Others
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
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Global Manhole Covers Market - Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for Manhole Covers Global Market Analysis over the coming years, owing to increasing FDI in construction in Asia-Pacific region, and increased investment in airport reconstruction and new airport construction. There is seen an increase in the global foreign direct investment (FDI) inflows. According to United States Economic and Social Commission for Asia and Pacific (UNESCAP), it was valued at USD 1.76 trillion in 2015. This amounted for 38% increase compared with 2014. The Asia-Pacific region continued to receive a significant amount of FDI inflows, totaling USD 559 billion in 2015, an increase of 5.6% over 2014 level. The FDI inflows in construction in Asia-pacific region has led to increased construction projects and real-estate development. This has pushed the government to create municipal infrastructure to support the increased construction. This is expected to induce the demand for manhole covers in the region.
Furthermore the region has also witnessed increased air traffic and tourism due to various government initiatives and marketing strategies. This has led to the scenario where countries such as India, Indonesia, Thailand, and others constantly require airport expansion plans and new airport construction. This requirement of investment in the airports along with a moderate growth in the number of public, private and military airports airbases in the country, induces the moderate growth of manhole covers market required by the airports and airbases in the country.
U.S. is also expected to see moderate growth in the Manhole Covers Global Market trends. There are various ongoing and upcoming airport/airbases construction projects which is expected to fuel the demand for such manhole covers. Operational inefficiencies, traffic congestion, and limited access in and out of terminals is a case in most of the US airports. This is a result out of conventional construction, and lack of funding. Airport modernisation in America is expected to outpace all other countries in the next few years.
Furthermore, The National Plan of Integrated Airport Systems (NPIAS) identified close to 3,400 existing and proposed airports that are significant to U.S. air transportation and thus are eligible to receive financial help under the Airport Improvement Program (AIP). The Federal Aviation Administration (FAA) is expected to provide Congress with a 5-year estimate of AIP development in every two years. Each year, airports receive funding through AIP grants and revenues from PFC user fees. In FY16, combined AIP and PFC authority was approximately $6.5 billion. Such expansion measures fuels the demand for manhole covers in the U.S.
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