Study of Global Manhole Covers Market to Garner Brimming Revenues By 2025
“A manhole cover is a removable plate forming the lid over the opening of a manhole, to prevent anyone or anything from falling in, and to keep out unauthorized persons and material. Manhole covers are made from cast iron, concrete or mixture of both. These manhole covers are inexpensive, heavy and strong. The global manhole covers market will reach 4.37 billion USD by 2025 from 3.56 billion USD in 2018 at a CAGR of 2.98% during the period.
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Growth by Region
Asia Pacific will dominate the market owing rapid economic growth and infrastructural development with huge amount of investments. Europe and North America have significant share in the market and will grow at a slow rate as they are already developed regions.
Drivers vs Constraints
The growing construction sector is the major factor for the growth of the market. With a rising population and growing real-estate industry, the need for manholes has also increased. However, the long life of manhole covers makes the replacement rate of the manhole covers low, which decreases the demand for manhole covers.
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Industry Trends and Updates
The manhole covers in Japan are being transformed from smelly and ugly image to elaborately designed and colorful manhole covers.