The U.S. hand holes’ market is estimated to expand at a growth rate of 4.2% CAGR over the forecast period between 2022 and 2032, as per Future Market Insights (FMI). Growth in underground wire networking and an increase in demand for wire splicing to boost the market in the coming years. Growing demand for the underground vault to get access to fiber optic cable and other utilities for splicing and repairs remains a key driving factor for the growth of the market.
On the other hand, expansion of construction industry is predominantly driven by the development of large-scale infrastructural projects in the U.S, government initiatives taken for the development of transportation facilities, and the strengthening of their energy (power generation) infrastructure, in turn, surging the demand for the Hand Holes market in the country.
Key players in the market are expanding their distribution channels in Texas, Arizona, and California owing to higher adoption of hand holes from the telecom industry. The rise in the demand for underground optical fiber in key populated states of Unites States is creating significant growth opportunities for the market.
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“Growing demand for hand holes in the telecommunication industry owing to their lower cost is expected to bolster the demand in the U.S. Further, favorable U.S. government policies to better the public infrastructure in the 50 states is likely to pave the way for remunerative prospects for hand holes’ manufacturers,” says an FMI analyst.
Key Takeaways:
- The U.S. hand holes market is expected to reach US$ 564.9 Mn by the end of 2032, growing at a CAGR of 2% over the forecast period.
- Growing demand for hand holes for easy access to cables & fibers during the course of maintenance & installation is favoring the growth of the market.
- In terms of material, the precast concrete polymers segment is expected to be dominate the market over the upcoming decade.
- End users are focusing on high-quality raw materials in order to increase product yield and thus profit margins on overall end-use products.
- Based on application, the fiber optic cables segment is expected to witness fastest growth over the forecast period.
Competitive Landscape
Oldcastle Infrastructure™, Jensen Precast, A.C. Miller Concrete Products, Inc., EJ Group, Inc., Garden State Precast, Concast, Inc., Utility Concrete Products, LLC, Paul Mueller Company, Precast Specialities Corp., Commercial Metal Forming, Walker Industries, Ltd. Clark Kennedy Co. Inc., S&M Precast, Hubbell Power Systems, Inc., Advance Concrete Products Co., Cromwell Concrete Products Inc., NovaLight Telecom Supply, Wieser Concrete Products, Inc., Crest Precast Concrete, Grand Valley Concrete Products, Power Precast Products, Corp. and various others are some of the key manufacturers of Hand Holes profiled in the full version of the report.
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More Insights into the Hand Holes Market Report
In its latest report, FMI offers an unbiased analysis of the U.S. Hand Holes Market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the market potential, growth, and scope, the market is segmented based on Material Type, Hand Hole Size, Application, and Region.
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