Utility Locator Market

Market Leader - Utility Locator Market

The utility locator market is expected to be valued at USD 5.62 Billion in 2018 and is estimated to reach USD 7.50 Billion by 2023, at a CAGR of 5.94% between 2018 and 2023. Factors such as the concern for safety and protection of underground utilities, benefits of advanced utility locating technologies over traditional utility locating methods, and government initiatives toward implementation of utility locators are driving the growth of the utility locator market.

The utility locator market is segmented on the basis of technique into electromagnetic field locators, ground penetrating radar (GPR), and others. Other techniques include acoustic pipe locators, magnetic locators, and hydro or vacuum excavators. The market for GPR technique is expected to grow at the highest CAGR during the forecast period. GPR has several advantages over other locating techniques; for example, this technique offers accurate geophysical data for various underground utilities and helps find both metallic and non-metallic buried utilities.

The utility locator market based on offering is segmented into fully equipment and services. The services market is expected to grow at a higher CAGR during the forecast period. The high cost of ownership and maintenance of equipment, constant innovation pertaining to utility locating devices, and stringent government policies to locate underground utilities before digging and construction activities contribute to the higher growth of this market.

On the basis of target, the utility locator market has been segmented into metallic and non-metallic. The market for non-metallic utilities is expected to grow at the higher CAGR during the forecast period owing to the increasing demand for utility locators for the detection of water and sewage pipelines and oil & gas pipelines, and for mapping various non-metallic utilities made up of fiberglass reinforced plastic, concrete, asbestos cement, and plastics.

On the basis of vertical, the utility locator market is segmented into oil & gas, electricity, transportation, water and sewage, telecommunications, and other verticals including real estate, construction, nuclear power plant, and mining. The market for water & sewage is expected to grow at the highest CAGR between 2018 and 2023. The demand for digitally mapping and locating water and sewer utility networks for meeting water pressure requirements or reducing water-in-basement issues is contributing to the growth of the utility locator market for the water & sewage vertical.

Furthermore, the utility locator market is classified on the basis of region into North America, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is likely to witness a high adoption of utility locators owing to the rapid infrastructural developments and construction activities and adoption of 5G technology in countries such as India and China.

Related Reports:

Utility Locator Market by Technique (Electromagnetic Field, GPR), Offering ( Equipment and Services), Target (Metallic and Non-Metallic), Vertical (Oil & Gas, Electricity, Transportation, Water & Sewage, Telecom), and Geography - Global Forecast to 2023

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Report Code
SE 6328
Published ON
May, 2018
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