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Global Utility Markers Market Key Players Analysis 3M Company, Tempo Communications, Inc, Komplex, Hexatronic Group AB, Radiodetection Ltd, Rycom Instruments, Inc, Seton, Berntsen International, Inc

04-10-2023 01:28 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsnReports

Utility Markers Market

Utility Markers Market

The global utility markers market size is estimated to grow from USD 341 million in 2023 to USD 471 million by 2028, at a CAGR of 6.7%. It is imperative that while developing new infrastructure or upgrading the old infrastructure, the existing assets should not be damaged. Hence, underground utility identification plays a crucial role. The correct location of underground utilities allows contractors to map all the utilities and create a plan, which ensures that new infrastructure is constructed in a way that prevents interfering with existing utilities and reduces the risk of accidents or damage.

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The utility markers market refers to the market for markers that are used to identify and mark underground utilities, such as pipelines, cables, and wires. These markers are essential for preventing damage to underground utilities during excavation and construction activities.

The market is segmented based on material type, product type, end-use industry, and region. The material type segment includes plastic, ceramic, and composite. The product type segment includes line markers, pavement markers, utility signs, and aerial markers. The end-use industry segment includes oil & gas, telecom, water & wastewater, and others. Geographically, the utility markers market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America dominates the utility markers market, due to the high demand for utility markers in the region and the stringent regulations mandating the use of utility markers during excavation activities. Europe is also a significant market for utility markers, due to the increasing demand for underground utility detection technologies and the growing construction industry in the region.

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Major players profiled in this report are as follows: 3M Company (US), Tempo Communications, Inc. (US), Komplex (Slovakia), Hexatronic Group AB (Sweden), Radiodetection Ltd. (UK), Rycom Instruments, Inc. (US), Seton (US), Berntsen International, Inc. (US), and Trident Solutions (US) and others. These players are focusing on product innovation, partnerships, and acquisitions to expand their market share in the utility markers market.

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