The key driving factors of the market are in rising demand for covering potholes, trenches during the construction, maintenance and repair projects.
A trench is a hollow cut into the ground, usually with parallel sides, and which is typically deeper than it is wide. A trench cover is a highly versatile and safe means of providing passage, designed for covering apertures, bores or trenches while doing maintenance, construction, telecommunication and repair projects. Trench covers are strong, durable, and very reliable. The telecommunication industry is installing cables in trenches as it is a safe and effective way to protect cables from weather damage. Also, cable trenches are the cheapest and simplest method of underground cable installation. Thus, to cover these trenches and protect cables from disaster, there is a demand for trench cover that is growing.
A trench cover is a safe and best means of providing a passageway developed for covering trenches and potholes. Increasing support from the government for advanced infrastructural setup and growing investment in construction is one of the major factors propelling market growth. Governments are working on improving the country’s rail, road, and other infrastructure all around the world. The growing application of trench covers along with the presence of various manufacturers across the globe fuels market growth. Adding to that, rising end-use industries such as construction, manufacturing, transportation, food and beverage and others created a demand for the trench covers.
Rising government awareness of regulations to maintain the standards and regulations are some of the main reasons that create an opportunity for the trench cover market. Further, the improvement in the telecommunication and construction industries further provides an ample opportunity for the market.
The main restraining factor for the trench cover market is the injuries to the workers while working during maintenance and repairing the trench cover is also one of the major factors restraining the trench cover market. Furthermore, the high cost of the raw materials, which are used for the manufacturing of trench cover is another factor restraining the market’s growth.
The COVID-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for the market’s growth. Also, the unavailability of a work force is expected to be a major hinderance to the market’s growth over the forecast period.
The report provides an in-depth analysis of the global trench cover market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for trench covers in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR at specific CAGR from 2021-2028.
The Global trench cover market comprises of different market segments like material, end-user and geography.
By material, the trench cover includes key segments of:
Fiberglass reinforced Pipes,
Fiberglass reinforced pipes is expected to dominate the market over the forecast period. Increase in demand for FRP in trenchless installation of pipelines, as it is lightweight, temperature resistant, strong, and highly resistant to chemicals and corrosion, and it consists of fiberglass and thermosetting resins. There is an increase demand for corrosion-resistant pipes in various applications and innovations in the manufacturing process of FRP are some of the major factors boosting the segment’s growth. Rapid urbanization and a rise in consumer expenditure boost the demand for fiberglass reinforced pipes.
By end-user, the trench cover includes key segment of:
Construction is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. A trench cover is generally used to cover bores, apertures, and trenches, mainly for the construction industry, maintenance and repair work. In construction activities, trenches are often created to install underground utilities such as gas, water, power, and communication lines. Thus, to cover these trenches, there is a demand for trench cover that is growing in the industry. Trench covers protect against any disaster caused by excess heat, rainwater, or other things.
The trench cover market is studied for the following counties:
North America is anticipated to witness an increasing demand for the trench cove rowing to the presence of well-established market players. North America accounts for more than one-fifth of the market share and is quickly growing. The United States is acquiring 85% of the North America trench market share. Furthermore, the rising penetration of high-speed internet service across the region as well as the increase in the number of smartphone users in the region, further increased demand for the telecom tower, which will create demand for trench cover in North America.
The outbreak of the COVID-19 virus has become a global healthcare emergency that has been spread worldwide, affecting worldwide social and economic development. The COVID-19 pandemic shut down the production of products in various industries, mainly owing to the lockdown in major countries. The COVID-19 impact analysis report by Axiom MRC provided a 360-degree analysis of micro and macro-economic factors in the trench cover market. In addition, a complete analysis of changes in the global trench cover market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. Likewise, the COVID-19 virus spread on one side has provided ample growth opportunity for the market with a rise in the telecommunication industry. And on the other hand, supply chain disruption has affected the market. In addition, growing demand for trench covers in the construction industry and the requirement for a protective cover has driven the trench cover market.
The competitive landscape analysis of the trench cover market is majorly focused on expanding the global growth of trench cover with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in trench cover has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
By material, the trench cover includes key segments of fiberglass reinforced pipes, concrete, steel, and plastic. Fiberglass reinforced pipes are expected to dominate the market over the forecast period. The trench cover market has major end users like commercial, construction, manufacturing, military, and transportation. Construction industries, followed by manufacturing and transportation industries, are expected to gain from increasing demand for trench cover over the estimated time period. The global trench cover market is studied for key regions such as North America, Europe, Asia-Pacific and the Rest of the World. North America is likely to dominate the global trench cover market.
Market Sizing for Year: | 2019-2028 |
Base Year: | 2021 |
Forecast Period: | 2022-2028 |
Value: | USD
million |
Market Segment studied: | Material End Users |
Market Players and its Competitors: | Fibrelite Ducast Shubham Industries Everlast Composites Pvt. Ltd. WunderCovers Inc. Oxford Plastics ProGlass Inc Balco Tricel Construction TAPCO - Traffic and Parking Control
Co. Inc Elite GSS |
FREQUENTLY ASKED QUESTIONS
What are the drivers for Global Trench Cover market?
The key driving factors of the market are in rising demand for covering potholes, trenches during the construction, maintenance and repair projects.
Which is the leading end-users segment for Trench Cover market?
Construction Industries has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).