MARKET OVERVIEW- NORTH AMERICA TRENCH COVER MARKET
A trench cover is generally used to cover bores, apertures, and trenches – typically for the construction industry, or for maintenance and repair work. Trench covers can be used for both commercial and residential use, as well as for driveways and the construction industry. The construction of roads is growing in the country and is a major shareholder. On roads and highways, street lights require underground wiring, which needs to be covered with high-strength and heat-resistant material. The government of the region is working on improving the country’s roads, rails, and other infrastructure. Trench covers are also used to cover trenches opened for installing sewers to pass human waste, installing wire, and others.
MARKET DRIVERS
The trench cover market demand is rising as usage of trench covers in various applications such as municipal, commercial facilities, and industrial facilities and growth in usage of trench cover in construction activities are boosting the demand for the trench cover market during the forecast period. The government’s initiatives rising to use trench cover in the wastewater collection systems, sewer systems, and storm water systems are fuelling the growth of the trench cover market. Rapid urbanization and the growing number of construction sectors across the region are propelling demand for the trench cover market. Furthermore, the expansion of telecommunication such as rapid consumer shifts from 2G to 3G, 3G to 4G and 5G has created a demand for internet towers. Owing to this, the demand for trench covers increased rapidly in North America.
Market Opportunity
Trench cover is highly preferred by engineers, which protects the pipes as well as requires very low maintenance. Furthermore, the growing adoption of 5G in various industries in upcoming years, is expected to provide an ample opportunity for the trench cover market.
Market Restrain
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 covers, is another factor restraining the market’s growth.
MARKET GROWTH CHALLENGES
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 hampering for the market growth over the forecast the period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of 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 cover in various applications has led to the increasing demand for market and is expected to witness growth at a CAGR at specific CAGR from 2021-2028.
NORTH AMERICA TRENCH COVER MARKET SEGMENTAL OVERVIEW
The North America trench cover market comprises of different market segment like material, end-user and Country.
NORTH AMERICA TRENCH COVER MARKET BY MACHINE TYPE
By material, the trench cover includes key segments of:
- Fiberglass reinforced Pipes
- Concrete
- Steel
- Plastics
Fiberglass reinforced pipes are expected to dominate the market over the forecast period. Fiberglass products are versatile, lightweight, and a durable alternative to steel and concrete. The FRP trench is the perfect long-lasting solution for covering open trenches and drains. Fiberglass trench cover system installs easily and can be quickly removed for trench access by one person. Fiberglass products are non-conductive and non-corrosive. Fiberglass trench cover is extremely lightweight, one-fourth the weight of heavy concrete panels, and it is less risky for back, foot, and other injuries.
NORTH AMERICA TRENCH COVER MARKET BY END-USER
By end-user, the trench cover includes key segments of:
- Commercial
- Construction
- Manufacturing
- Military
- Transportation
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. The government is working on improving the country's road, rail, and other infrastructure. A trench cover is a highly versatile and safe means of providing passage for bores or trenches during construction. Increasing support from the government for advanced infrastructural setup and growing investment in construction is expected to provide ample opportunity for the market.
NORTH AMERICA TRENCH COVER MARKET BY COUNTRY
The trench cover market is studied for the following region:
- United States
- Canada
- Mexico
North America is anticipated to witness an increasing demand for the trench cover owing to the presence of well-established market players. The United States is acquiring 85% of the North America trench market share. In 2021, the US construction market was valued at $1.9 trillion. With the growing construction activity in the country, the trench cover demand will see growth in the United States. Moreover, the growing end-user industries such as manufacturing, transportation, food and beverage, and others provide an ample opportunity for the trench cover market. Moreover, rising spending on the deployment of 5G infrastructures due to the shift in customer inclination toward next-generation technologies and smartphone devices is one of the major factors boosting the telecommunication industry in the United States. The growing telecommunication industry will further create demand for internet towers. Owing to this, trench cover demand is expected to boost the sale of trench covers.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA TRENCH COVER MARKET
The COVID-19 impact analysis report by Axiom MRC provided a 360degree analysis of micro and macro-economic factors in the trench cover market. In addition, a complete analysis of changes in the North America 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, a growing demand for trench covers in the construction industry and the requirement for a protective cover have driven the trench cover market.
COMPETITIVE LANDSCAPE ANALYSIS
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
- 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
- ESE Direct Ltd. Etc
