The global utility locator market size is expected to reach USD 1,311.9 million by 2030 according to a new study by Polaris Market Research. The report “Utility Locator Market Share, Size, Trends, Industry Analysis Report, By Technique (Electromagnetic Field, Ground Penetrating Radar, Other); By Offering (Equipment, Services); By Vertical; By Region Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing demand for the market is due to the factors such as growing concerns for the safety and protection of underground utilities and more utilization of utility locator systems over traditional methods. Additionally, the rising demand for real-time utility locators creates many opportunities for service providers over the forecast timeline.
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Multiple underground locating technologies, which include GPR, Radio Frequency (RF) Pipe and Cable Locators, and Electro-Magnetic Profiling Locators, build the case for thorough utility locating surveys. These technologies save locating time through conventional excavation methods.
Increased use of advanced technology, such as GPR services and conventional technologies, is supposed to influence the market's growth. GPR utility locating aids in preventing unintentional digging strikes and damage to subterranean assets, thereby enhancing public safety. The GPR approach doesn't affect anything above ground, as no digging is necessary. These factors have increased the demand for this technology.
The Covid-19 pandemic negatively hampered the market due to closures of overall industries worldwide, which led to the decline of construction in foreign building sites and resulted in a labor shortage. Also, ongoing international projects such as high-speed rail lines were affected due to the pandemic effect.
Utility Locator Market Report Highlights
Polaris Market Research has segmented the utility locator market report based on technique, offering, vertical, and regions:
Utility Locator, Technique Outlook (Revenue - USD Million, 2018 - 2030)
Utility Locator, Offering Outlook (Revenue - USD Million, 2018 - 2030)
Utility Locator, Vertical Outlook (Revenue - USD Million, 2018 - 2030)
Utility Locator, Regional Outlook (Revenue - USD Million, 2018 - 2030)