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Utility Locator Market Poised for Robust Growth, Projected to Reach USD 820 Million by 2023

12-24-2024 03:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future market Insights

Utility Locator Market

Utility Locator Market

According to market research, the utility locate market is expected to develop at a compound annual growth rate (CAGR) of 4.7%, reaching USD 820 million by 2023 and USD 1.3 billion by 2033. Finding subterranean services such as water pipelines, electrical cables, gas lines, and telephone lines requires the use of locators. Gaining further insight into safeguarding these utilities when doing construction, excavation, or digging operations is made possible by the information provided.

There are old subterranean utilities in many areas that require upkeep, replacement, or repairs. Utility locator services are frequently necessary to prevent potential damage or service interruptions. Excavation and digging have become more common as a result of urbanization and infrastructural development. It is possible to lay new telecommunications cables, repair existing utilities, or build new utility lines.

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.

๐”๐ง๐œ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐ฎ๐ง๐ญ๐š๐ฉ๐ฉ๐ž๐ ๐ฉ๐จ๐ญ๐ž๐ง๐ญ๐ข๐š๐ฅ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ - ๐†๐ž๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐š๐ง๐๐ฌ ๐จ๐ง ๐ญ๐ก๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ:
https://www.futuremarketinsights.com/reports/sample/rep-gb-17772

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.

๐Š๐ž๐ฒ ๐“๐š๐ค๐ž๐š๐ฐ๐š๐ฒ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐ญ๐ก๐ž ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ

โ€ข The global market for utility locator services is forecast to grow at a CAGR of 4.6% over the forecast period.
โ€ข Due to rapid innovation and advanced technologies, China is expected to increase its utility locator demand by 5.6% CAGR by 2033.
โ€ข 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.
โ€ข The Japanese automotive industry is driving market growth, which is expected to reach a 4.2% CAGR by 2033.
โ€ข According to analysts, the utility locator market in telecommunications is forecast to grow at a CAGR of 4.5% over the next few years.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž ๐จ๐Ÿ ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ง๐ ๐“๐ก๐ž๐ข๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ๐ข๐ง๐  ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ข๐ž๐ฌ:

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.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ˆ๐ง๐œ๐ฅ๐ฎ๐๐ž:

โ€ข 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.
โ€ข 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.

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ข๐ง ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ง๐ ๐“๐ก๐ž๐ข๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ๐ข๐ง๐  ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ

1. Radiodetection Ltd.
2. Guideline Geo
3. Rigid Tool Company
4. Ditch Witch (The Charles Machine Works)
5. Leica Geosystems AG
6. Vivax-Metrotech Corporation
7. 3M
8. USIC LLC
9. Multi VIEW Locates Inc.
10. Ground Penetrating Radar

๐†๐ž๐ญ ๐Œ๐จ๐ซ๐ž ๐•๐š๐ฅ๐ฎ๐š๐›๐ฅ๐ž ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ž ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ

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).

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐‹๐จ๐œ๐š๐ญ๐จ๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ

By Technique:
โ€ข Electromagnetic Field
โ€ข Ground Penetrating Radar
โ€ข Other

By Offering:
โ€ข Equipment
โ€ข Services

By Vertical:
โ€ข Oil & Gas
โ€ข Electricity
โ€ข Transportation
โ€ข Water and Sewage
โ€ข Telecommunication
โ€ข Others

By Region:
โ€ข North America
โ€ข Latin America
โ€ข Europe
โ€ข Asia Pacific
โ€ข Middle East & Africa (MEA)

Related reports --

https://www.fmiblog.com/2024/11/04/utility-asset-management-market-growth-factors-opportunities-ongoing-trends-and-key-players-2032/
https://www.fmiblog.com/2024/11/27/utility-analytics-and-energy-analytics-market-expected-to-reach-usd-9-8-billion-by-2032/
https://www.fmiblog.com/2024/11/04/insights-that-matter-future-market-insights-inc-s-future-outlook-on-the-location-intelligence-market/

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. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Read More @ https://www.futuremarketinsights.com/reports/utility-locator-market

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