Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The "Utility Locator Market by Technique (Electromagnetic Field, GPR), Offering (Equipment and Services), Target (Metallic Utilities and Non-Metallic Utilities), Vertical (Oil & Gas, Electricity, Transportation) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The utility locator market is projected to grow from USD 833 million in 2022 to USD 1,109 million in 2027; it is expected to grow at a CAGR of 5.9% during the forecasted period. Introduction of standards and ease in regulations pertaining to utility locators driving the utility locator adaption; while rising demand for real-time utility locating will likely create a huge opportunity for utility location service providers.
The market for utility locators using ground penetrating radar technique is expected to grow at the highest CAGR during the forecasted period
The ground penetrating radar (GPR) technique can non-destructively locate objects and is used to locate buried pipes, tanks, manholes, cables, and other related buried objects, which cannot be located with electromagnetic locating or other methods. The GPR can locate subsurface structures in materials like soil, rock, concrete, asphalt, wood and water.
The market for water and sewage verticals is to grow at the highest CAGR during the forecast period
Digging without locating the underground high-pressure water mains and sewage lines may lead to injury as the jet of water from mains may include stones or other hard objects ejected from the pipe. Utility locating and mapping devices help in tracing of right damage spot, water and sewer utility networks for meeting water pressure requirements or reducing water-in-basement issues. GPR technique of utility locating can be used even on ice to help in locating water and sewage lines, and other objects. Thus, such various benefits of utility locator in water and sewage vertical is expected to create significant demand in coming years.
APAC to offer significant growth opportunities for the utility locator market between 2022 and 2027
The utility market in the APAC region is expected to grow at the highest growth of rate as the region is characterized by rapid infrastructure development initiatives and huge investment by the public and private sectors in residential, industrial, and commercial establishments. The market for utility locators in Asia pacific is expected to grow more in the water and sewage vertical.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the utility locator market space.
Market Dynamics
Drivers
- Concern for Safety and Protection of Underground Utilities
- Benefits of Utility Locator Systems Over Traditional Technologies/Methods
- Introduction of Standards and Ease in Regulations Pertaining to Utility Locators
Restraints
- High Cost of Ownership and Maintenance of Utility Locators
Opportunities
- Rising Demand for Real-Time Utility Locating
- Growing Infrastructure Requires Maintenance Operations by Utility Locator System
Challenges
- Lack of Expertise and Skillset
- Differed Weather and Soil Conditions in Addition to Technological Limitations
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Utility Locator Market, by Technique
7 Utility Locator Market, by Offering
8 Utility Locator Market, by Target
9 Utility Locator Market, by Vertical
10 Utility Locator Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent & Related Market
14 Appendix
Companies Mentioned
- Radiodetection (UK)
- Vivax-Metrotech (US)
- Guideline Geo (Sweden)
- Ridge Tool Company (US)
- Ditch Witch (The Charles Machine Works Inc.) (US)
- Leica Geosystem (Switzerland)
- 3M (US)
- USIC (US)
- multiVIEW (Canada)
- Ground Penetrating Radar Systems (GPRS) (US)
- On Target Utility Services (US),
- Maverick Inspection (Canada)
For more information about this report visit https://www.researchandmarkets.com/r/xjyznf
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