A manhole cover is a detachable plate that acts as a cover for a manhole opening to keep anyone or anything from falling in. Manhole covers are used in a variety of settings, including commercial, industrial, and municipal facilities. The increased usage of various manhole cover systems in all these facilities across the globe is a significant driving factor for the market. Manholes are used in the municipal sector for wastewater collection systems, sewage systems, and stormwater systems. Additionally, the increase in the number of construction programs across the globe is fueling market expansion during the forecast period. According to the National Investment Promotion and Facilitation Agency, infrastructure programs accounted for 13.0% of overall FDI inflows in 2021. Between April 2000 and June 2022, FDI in the construction development sector (housing, built-up infrastructure, townships, and construction development projects) and construction (infrastructure) programs totaled $28.6 billion and $26.2 billion, respectively. Due to all such reasons, according to OMR Research, the market will grow at a CAGR of 4.6% during the forecast period (2023–2029).
Segments of the Market
The global manhole cover system market is segmented based on product type and application. Based on product type, the market is sub-segmented into concrete, metal, and composite. The demand for long-lasting manhole covers in the commercial and municipal sectors is fueling the market for metal manhole cover systems. Further, on the basis of application, the market is sub-segmented into commercial, municipal, utility pits, and industrial facilities.
Recent Developments
The key players in the manhole cover system market include Fibrelite (Dover), Neenah Foundry, EJ Group Inc., Saint Gobain S.A., and Eagle Manufacturing Group, which are focusing on various growth strategies such as mergers and acquisitions, new product launches, expansions, strategic collaborations, and joint ventures to stay competitive in the market. Some of the recent developments in the market include:
• In August 2022, Eversource installed "energy-release" (manhole covers) to improve the safety of Boston's subterranean electric infrastructure. By 2023, the firm aims to enhance public safety by replacing roughly 6,000 manhole covers around the city. The latest energy-release manhole models raise slightly, about 3 to 4 inches, then drop back into place, with the purpose of increasing the inspection cycle and preventing manhole explosions.
• In May 2022, the "City Badge of Han River" unveiled a set of manhole covers co-designed by Wuhan Water Group and built by Wuhan Water Group's Hanshui Technology. The cultural manhole covers are composed of ductile iron, copper, and other materials, and their surface designs are classified into color and copper variants. Furthermore, each manhole cover has a QR code that, when scanned with a phone, displays the stories of the respective historic structures as well as information about subsurface water supply infrastructure and water supply services.
• In August 2021, at the 2021 Public Works Expo (PWX), Neenah Foundry introduced their innovative InfraLOCK heavy-duty manhole cover system. This unique manhole security system is user-friendly and simple to use, comparable to a standard manhole cover, and contains the ultra-strong ABLOY PLM340 padlock, which was created exclusively to secure subterranean infrastructure in the US.
Conclusion
The manhole cover market is expanding due to various factors. The government’s initiatives are one of the major factors bolstering the market’s growth. For instance, President Joe Biden authorized a $1 trillion infrastructure plan in November 2021 to address the demand for large infrastructure in the US. The measure included $110 billion in funding for roads, bridges, and other large construction projects. As the Infrastructure Investment and Jobs Act budget is allocated to contractors, building subsectors such as roads and streets, water supply, sewage, and transportation, among others, are likely to drive development in the construction industry, boosting the manhole cover system market. Additionally, the rising need for facility services such as airports, docks, petrol stations, and many other commercial facilities is the primary driver of market expansion in the area. Since manhole covers at fuel and service stations are subjected to strong loads, there is a high need for long-lasting manhole covers to avoid replacements. Furthermore, regulatory attempts to adopt manhole cover systems with modern features such as QR codes in roadways, landmark buildings, and industrial units will promote market expansion.