The United States hand holes market is set to be valued at about USD 389.0 million in 2023, with a stable long-term projection, according to the latest insights by Future Market Insights (FMI). It is further anticipated to total USD 586.9 million by 2033. A new report estimates the market to expand at over 4.2% CAGR from 2023 to 2033.
The rising need for facility services such as airports, docks, gas stations, and a variety of industrial facilities will provide abundant prospects for market expansion. Polymer concrete hand holes for drainage applications have attracted market demand growth due to the precision molding they are subjected to, coupled with precise finishing. This encourages efficient hydraulic flow to ensure superior discharge rates vis-à-vis equivalent-sized cast-in-place concrete drainage systems.
The country’s increasing demand for construction has resulted in a surge in residential projects. Hand holes in the construction industry provide access to subsurface systems such as power utility pits, sewer systems, and communications lines for cleaning, repairing, and removing blockages. Thus, the demand for the United States handhole market will likely continue to rise due to the aforementioned factors during the forecast period.
Innovations in materials and manufacturing procedures can lead to the growth of more durable, efficient, and cost-effective United States handhole solutions. The presence of several manufacturers and providers in the market can influence prices, quality, and innovation. Competition among leading manufacturers can lead to merchandise offerings and client service developments.
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Market trends and demand for holes vary by region, influenced by economic conditions, local infrastructure projects, and regulatory environments. The growing emphasis on sustainability and environmentally friendly materials may impact the materials used in hand-hole manufacturing. With advances in smart technology and the Internet of Things (IoT), hand holes must be planned to accommodate sensors, cameras, or other connected devices.
Key Takeaways from the United States Hand Hole Market Study
- During the forecast period, the United States hand hole market is expected to expand at a CAGR of 2% by 2033.
- By material type, precast concrete is estimated to account for the leading share of about 55% under the product type segment in terms of value in 2023.
- Based on application, the fiber optic cables segment will likely dominate the market, creating an incremental opportunity of US$ 116.0 million from 2023 to 2033.
Competitive Landscape
The United States hand hole market is consolidated, with the players acquiring around 60% to 65% of the market shares. The key market participants actively partner with other end-use industries to boost their sales revenue and product portfolio. Also, this will help in setting up in the long term agreements of supply to these end use industries and will help the leading companies to enhance their reach.
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For instance,
- Jensen Precast designs, develops and produces precast concrete products that meet the rising infrastructure needs of businesses, communities, and government agencies. Founded in 1968 in Nevada, they are a privately held firm with locations in California, Arizona, Hawaii, Nevada and Oregon.
- EJ is a worldwide leader in designing, manufacturing, and distributing entree solutions for the world’s rising infrastructure. EJ has a resolution to meet every project needs from water and sewer projects to sewer, telecommunications and utility projects.
United States Hand Hole Market by Category
By Material Type:
- Precast Concrete
- Polymer Concrete
- Fiberglass
- HDPE
- Advance Composite
By Hand Hole Size:
- Square
- Rectangular
- Circular
By Application:
- Fiber Optic Cables
- Wire Splicing & Repair
- Others
By Region:
- West United States
- Midwest United States
- Northeast United States
- South United States
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