The utility locate market is anticipated to increase at a compound annual growth rate (CAGR) of 4.7%, reaching US$ 1.3 billion by 2033 and US$ 820 million by 2023, according to market research. Locators are necessary for locating underground utilities including telephone, gas, electricity, and water pipes. The information supplied allows for the acquisition of more knowledge on the protection of these utilities during construction, excavation, or digging activities.
Many places have outdated subsurface utilities that need to be maintained, replaced, or repaired. Utility locator services are often required to avoid any damage or disruptions in service. Digging and excavation have increased in frequency due to infrastructure development and urbanization.
Uncover the untapped potential of the Utility Locator Market – Get your hands on the Sample Report now
The utility locator device can be used for many applications, including the location of telecommunication lines. With these devices, users can locate utilities using electromagnetic and GPR technologies. Examples of such multipurpose locators include Subsite Electronics’ UtiliGuard and Radiodetection’s RD8100PDL.
According to the United Nations report, by 2025, about 1.8 billion people will live in areas with absolute water scarcity, contributing to food insecurity and many other problems. The lack of clean water and sanitation is responsible for about 80% of illnesses in developing countries. Many countries are taking joint initiatives to help developing countries access water resources.
Utility locating is becoming increasingly popular among contractors, construction companies, and utility service providers. Utility locators are located accurately, not only are damages prevented and worker safety ensured, but project delays are also reduced. Therefore, more companies are investing in utility locators, driving the market.
Key Takeaways from the Utility Locator Market
- The global market for utility locator services is forecast to grow at a CAGR of 4.6% over the forecast period.
- Due to rapid innovation and advanced technologies, China is expected to increase its utility locator demand by 5.6% CAGR by 2033.
- The increasing construction industry in the United States will lead to an increase in utility locators. The sector will grow at a CAGR of 3.6% from 2023 to 2033.
- The Japanese automotive industry is driving market growth, which is expected to reach a 4.2% CAGR by 2033.
- According to analysts, the utility locator market in telecommunications is forecast to grow at a CAGR of 4.5% over the next few years.
Click to Buy Your Exclusive Report Immediately!
Competitive Landscape of Utility Locator Market and Their Marketing Strategies:
Globally, the utility locator market has become highly competitive over the past decade. A cost-effective and broader product line will enable the company to thrive in a highly competitive market.
Market Developments Include:
- In February 2023, a Minnesota company introduced a new underground utility mapping system. GIS Manager Damon Nelton leveraged Esri solutions, hardware, and software from Eos Positioning Systems to develop a real-time capturing solution for new pipeline construction at Ellingson Companies. Ellingson Companies improved field productivity and the safety of future construction projects by streamlining its documentation workflows.
- In March 2023, Vermeer introduced its GPS-enabled Verifier G3+ Utility Locator. An intuitive user interface, optimized connectivity, and high accuracy are the key features of this new-generation locator. By connecting the Verifier G3+ utility locator to a smartphone and using the G3+ Map app, location details can be plotted, including depth, current index, GPS information, utility type, device name, and the operator’s name.
Key Players in Utility Locator Market and Their Marketing Strategy
- Radiodetection Ltd.
- Guideline Geo
- Rigid Tool Company
- Ditch Witch (The Charles Machine Works)
- Leica Geosystems AG
- Vivax-Metrotech Corporation
- 3M
- USIC LLC
- Multi VIEW Locates Inc.
- Ground Penetrating Radar
Get More Valuable Insights into the Utility Locator Market Report
ESCOMAR-certified member Future Market Insights offers unbiased global market analysis, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the utility locator market, the market is segmented based on Technique (Electromagnetic Field, Ground Penetrating Radar, Other), Offering (Equipment, Services), Vertical (Oil & Gas, Electricity, Transportation, Water and Sewage, Telecommunication, Others) and Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
Segmentation Analysis of the Utility Locator Market
By Technique:
- Electromagnetic Field
- Ground Penetrating Radar
- Other
By Offering:
- Equipment
- Services
By Vertical:
- Oil & Gas
- Electricity
- Transportation
- Water and Sewage
- Telecommunication
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
