Utility Locator Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Technique (Electromagnetic Field, Ground Penetrating); By Offering (Equipment, Services); By Vertical (Oil & Gas, Electricity, Transporta

Utility Locator Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Technique (Electromagnetic Field, Ground Penetrating); By Offering (Equipment, Services); By Vertical (Oil & Gas, Electricity, Transportation, Water & Sewage, Telecommunications); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Global Utility Locator Market Size Expands at CAGR of 6% to Touch USD 1.25 Billion by 2029

Global utility locator market is flourishing because of an increasing demand for modern advanced locators and increasing need for real-time utility location for underground utilities.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global utility locator market size at USD 832.84 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global utility locator market size to grow at a significant CAGR of 6% reaching a value of USD 1,248.38 million by 2029. Major growth factors of global utility locator market include rising adoption of standards, increasing ease of regulations controlling utility locators, and growing advantages of utility locator systems over traditional technologies. Numerous methods, equipment, and service providers have begun to use fleet telemetry systems, GPS devices, GIS data devices, and GPR devices consisting of multiple GPR antennas, known as GPR arrays, to survey areas rapidly by gathering several GPR profiles and 3D images of the objects, as well as innovative data capture ability feature and other sensors, which is producing lucrative opportunities for key players during the forecast period. However, high cost of ownership and maintenance is anticipated to restrain the global utility locator market growth during the period in analysis.

Global Utility Locator Market – Overview

Utility locators are responsible for detecting and designating public utilities. It is the procedure that aids in the detection and mapping of subterranean utilities and services by pinpointing pathways of cables and other conduct that transfer utilities. Telecommunication, power distribution, natural gas, cable television, fiber optics, traffic lights, street lights, storm drains, water mains, and wastewater pipelines are all included. The market is divided into three categories based on the technique: Electromagnetic Field, Ground Penetrating Radar, and Others. The market is divided into Equipment and Services based on the offering. The market by target is split into metallic utilities and non-metallic utilities segments. It is utilized in a variety of industries, such as as oil & gas, electricity, transportation, water & sewage, telecommunications, and others.

Impact of COVID-19 on Global Utility Locator Market

Covid-19 adversely affected the global utility locator market as a result of the governments’ stringent lockdown measures. All industries shut down as a result of the social distancing circumstances, resulting in a decrease in services and equipment offered by private key actors. Furthermore, in order to deal with immediate challenges and build a new way of working following the pandemic, manufacturers are now focusing on protecting their employees, operations, and supply chain.

Global Utility Locator Market – By Technique

By technique, global utility locator market is bifurcated into Electromagnetic Field and Ground Penetrating segments. The electromagnetic field segment holds a higher market share, due to its affordability compared to other techniques and its effectiveness in locating metallic utilities. The most commonly used tool for detecting underground utilities is an electromagnetic field locator, which includes a transmitter and receiver. This type of equipment is found in various utility locating devices, such as pipe and cable locators, electronic marker systems, e-line locators, terrain conductivity equipment, and metal detectors. The market segment's growth is also due to the increasing demand for non-destructive locating, measurement of utility line depth, monitoring excavation progress, finding utility access points, and its accuracy. The technique's portability, flexibility, and ability to trace target lines have also contributed to its popularity.

Competitive Landscape

Major players operating in global utility locator market include 3M, Detection Services, Geophysical Survey Systems, Ground Penetrating Radar Systems, Guideline Geo, Leica Geosystems, Maverick Inspection, Mclaughlin, Multiview, on Target Utility Services, Pipehorn, Radiodetection Ltd, Ridge Tool Company, The Charles Machine Works, and USIC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Utility Locator Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Utility Locator Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.