Securing Connections: U.S. Hand Holes Market Envisioned to Reach US$ 564.9 Million by 2032, Propelled by 4.2% CAGR - Insights from Future Market Insights

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, the expansion of the 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.

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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 United States is creating significant growth opportunities for the market.

"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 From the Market Study:

The U.S. hand holes market is expected to reach US$ 564.9 Million by the end of 2032, growing at a CAGR of 4.2% 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 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 the 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.

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Hand Hole Market Segmentation

By Material Types:

Precast Concrete
Polymer Concrete
Fiberglass
HDPE
Advance Composite

By Hand Hole Size:

Square
Up to 20 x 15
20 x 15 to 20 x 30
20 x 30 to 30 x 48
30 x 48 & Above
Rectangular
Up to 6.75 x 11 x 9
6.75 x 11 x 9 to 24 x 28 x 28
24 x 28 x 28 to 30 x 40 x 40
36 x 40 x 40 & above
Circular
Up to 6 x 10
6 x 10 to 9 x 12
9 x 12 to 10 x 42
above 10 x 42

By Application:

Fiber Optic Cables
Wire Splicing & Repair
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

Explore This Report From Different Publications:

U.S. Hand Holes Market:

1) https://www.globenewswire.com/news-release/2022/12/30/2581212/0/en/u-s-hand-holes-market-is-projected-to-reach-a-worth-of-us-373-7-mn-in-2022-is-estimated-to-hit-us-564-9-mn-at-a-cagr-of-4-2-by-year-2032-end-future-market-insights-inc.html

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.