The United States hand holes market is set to be valued at about US$ 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 US$ 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.
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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.
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
Explore FMI’s Extensive Ongoing Coverage on Industrial Automation Domain:
- According to Future Market Insights, the worldwide material handling equipment market is expected to be valued at US$ 4,411.5 million in 2023. According to FMI, the worldwide material handling equipment market is expected to record a 4.5% CAGR between 2023 and 2033, reaching a valuation of US$ 6,555.9 million.
- The hand tools market is projected to expand its roots at an average CAGR of 5.8% during the forecast period. The market is likely to hold a revenue of US$ 15.9 billion in 2023 while it is anticipated to cross a value of US$ 27.9 billion by 2033.
- The global downhole tractor market is anticipated at US$ 3.4 billion in 2022. The sector is gaining pace as companies provide technologically improved downhole tractors with various integrated technologies. As of 2023, the market is slated to reach US$ 3.5 billion, and will eventually reach US$ 5.8 billion. From 2023 to 2033, a CAGR of 5.2% is projected.
- The power tool market size is projected to be worth US$ 36.04 billion in 2023. The market is likely to reach US$ 64.5 billion by 2033. The market is further expected to surge at a CAGR of 6% during the forecast period 2023 to 2033.
- The global industrial planetary gearbox market size is expected to obtain a valuation of US$ 6.5 billion by 2033. It is anticipated to witness a CAGR of 5.2% in the review period 2023 to 2033. The industrial planetary gearbox market is projected to achieve a valuation of US$ 3.9 billion by 2023
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