Discovering Hidden Opportunities: Key Players and Market Share in the Utility Locator Industry

The market research sector projects that the Utility Locator Market will grow at a CAGR of 4.7%, reaching US$ 820 million in 2023 and US$ 1.3 billion in 2033. Finding subterranean utilities including gas lines, electrical cables, water pipes and telecommunication lines requires the use of locators. The knowledge helps people understand how to safeguard these utilities during digging, construction, or excavation projects.

Underground utilities in many areas need to be maintained, repaired, or replaced. Utility locator services are frequently needed to prevent potential harm or service interruptions. The frequency of digging and excavation activities has increased as a result of urbanisation and infrastructural development. You can lay new telecommunications cables, build new utility lines, or fix existing utilities. Using utility locator services during these activities is essential to preventing accidental damage.

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 Radio detection's RD8100PDL.

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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.

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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)

Conclusion

The Utility Locator Market is set to witness substantial growth in the coming decade as industries and governments worldwide recognize the importance of efficient utility management. Future Market Insights' report equips businesses with valuable market intelligence to make informed decisions and tap into the emerging opportunities. For a detailed analysis and customized research, download the report now or reach out to FMI for tailored solutions.

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This release was published on openPR.