Analysis of Utility Locator market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Utility locator is essential equipment for finding and marking the public utility mains which are underground. The public utility contains lines for television cable, telecommunication, electricity distribution, natural gas, street lights, fiber optics, storm drains, traffic lights, wastewater pipelines, and water mains. In some places, most essential national defense communication lines, mass transportation, oil & gas pipes, road & rail channels are also contending for space underground.
The rapid growth of utility locator is attributed to the concern for protection and security of underground utilities, improving utility locator technologies over outdated utility locating techniques, and government initiatives towards the implementation of utility locators. Moreover, there is increasing demand for the utility locators due to stringent government policies and regulations to locate underground utilities before construction and excavating are significantly contributing to the growth of utility locator market across the globe at significant CAGR during the forecast period.
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Deployment of Technologically Advance Utility Locators Remains the Key Driving Engine for Market
The development of technology for improving underground utility locators is one of the prominent factors expected to fuel the growth of the utility locator market. The end-use industries are preferring technologically innovative utility locators for rapid measurement of errors in the incident of faults in underground cables.
Moreover, using digital technologies, such as penetrating radar and electromagnetic fields in utility locators, will result in proper coordination and communication between different operational points during the mapping and surveying process. As a result, manufacturing advance and technologically upgraded utility locators are expected to increase the accuracy and precision of the survey and mapping process. These parameters are anticipated to propel the growth of utility locators market across the globe at a significant CAGR during the forecast period.
On the other hand, one of the key restraints of the utility locator market is high maintenance and possession costs. Thus, these factors are hampering the growth of the utility locator market during the forecast period at a significant CAGR.
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The prominent manufacturers are focusing on acquisition for sustaining their position in the global market. Furthermore, the key players are focusing on enhancing their product portfolio due to increasing demand of the utility locator by the consumers across the globe.
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Based on geography, the global utility locator market is expected to register significant growth during the forecast period. The global utility locator market is segmented into seven key regions: North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. North American countries, such as the US and Canada, are expected to capture prominent value share of the utility locator market owing to the rapid growth of the telecommunication industry.
East Asia & South Asia are anticipated to hold a significant share in terms of value in the utility locator market due to the rapid growth in the oil & gas and transportation industries. European countries, such as Germany and France, are projected to witness significant share in the utility locator market due to the rapid growth in the water & utility and telecommunication industry.
Moreover, protection and security of underground utilities, improving utility locator technologies over outdated utility locating techniques, and government initiatives towards the implementation of utility locators. These factors are propelling the growth of the market across the globe at a significant CAGR over the forecast period.
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with the market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The global Utility Locator market has been segmented on the basis of technology type, end use, and region.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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