Home Press Releases Utility Locator Market Size Worth $1,311.9 Million By 2030 | CAGR: 5.83%

Utility Locator Market Size Worth $1,311.9 Million By 2030 | CAGR: 5.83%

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

  • The electromagnetic field techniques accounted for the most significant market revenue in 2021 due to their lower cost and ability to detect metallic utilities.
  • The services segment is projected to grow at the highest rate during the forecast period due to growing safety concerns and the protection of underground utilities.
  • Telecommunications accounted for the most significant market revenue in 2021 as utility locators assure uninterrupted operations of communication cables.
  • North America dominated the regional market due to increasing government initiatives to avoid damage to pipelines and other utilities at the time of infrastructure development application.
  • The global market is highly competitive owing to the existence of large industry players with global presence, including 3M, Detection Services, Geophysical Survey Systems, Ground Penetrating Radar Systems, Guideline Geo, Leica Geosystems, Maverick Inspection, Mclaughlin, Multiview, on Target Utility Services, Pipehorn, Radiodetection Ltd, Ridge Tool Company, The Charles Machine Works, USIC, Vivax-Metrotech, RHD Services, One Vision Utility Services, and Utilities Plus.

 

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)

  • Electromagnetic Field
  • Ground Penetrating Radar
  • Other

Utility Locator, Offering Outlook (Revenue – USD Million, 2018 – 2030)

  • Equipment
  • Services

Utility Locator, Vertical Outlook (Revenue – USD Million, 2018 – 2030)

  • Oil & Gas
  • Electricity
  • Transportation
  • Water & Sewage
  • Telecommunication
  • Others

Utility Locator, Regional Outlook (Revenue – USD Million, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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