Global Utility Locator Market 2018-2023: Market is Expected to Reach USD 7.50 Billion by 2023 from USD 5.62 Billion in 2018
DUBLIN, June 7, 2018 /PRNewswire/ --
The "Utility Locator Market by Technique, Offering, Target, Vertical, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The utility locator market is expected to reach USD 7.50 Billion by 2023 from USD 5.62 Billion in 2018, at a CAGR of 5.94%
The utility locator market is mainly driven by 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.
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 electromagnetic field technique is expected to hold the largest market share during the forecast period. The applicability of this technique to locate metallic utilities and the lower cost of the electromagnetic field technique compared to other techniques can be attributed to the largest share of this segment. The market for GPR technique is expected to grow at the highest CAGR during the forecast period.
The utility locator market based on offering is segmented into equipment and services. The equipment segment is expected to hold a larger market share during the forecast period, while 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 metallic utilities is expected to hold a larger share of the utility locator market in 2018. 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 & sewage, telecommunications, and other verticals including real estate, construction, nuclear power plant, and mining. The telecommunications vertical is expected to account for the largest share of the utility locator market in 2018. This can be attributed to the high repair cost of telephone lines, adoption of utility locators to avoid disturbances in the communication system, and establishment of 5G technology infrastructure. The market for water & sewage is expected to grow at the highest CAGR between 2018 and 2023.
The utility locator market is broadly classified on the basis of geographic regions into North America, Europe, APAC, and RoW. North America is expected to account for the largest share of the overall utility locator market in 2018. The increasing concern for public safety and security and government efforts to avoid damage to pipelines and other utilities during the implementation of remodeling and infrastructure development initiatives facilitate the implementation of utility locating equipment and adopt utility locating services, which, in turn, propels the market growth in North America. 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.
The concern for safety and protection of underground utilities inhibits the utility locator market growth. Furthermore, the high ownership and maintenance costs and lack of expertise and skill set have been the key challenges faced by the market. However, factors such as high demand for real-time utility locating services and aging infrastructure and the increasing need for maintenance can generate significant opportunities for this market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Utility Locator Market
4.2 Utility Locator Market, By Technique
4.3 Utility Locator Market in APAC, By Vertical and Country
4.4 Utility Locator Market, By Target
4.5 Utility Locator Market, By Vertical
4.6 Country-Wise Analysis of Utility Locator Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Concern for Safety and Protection of Underground Utilities
5.2.1.2 Benefits of Advanced Utility Locating Technologies Over Traditional Utility Locating Methods
5.2.1.3 Government Initiatives Toward Implementation of Utility Locators
5.2.2 Restraints
5.2.2.1 High Ownership and Maintenance Costs of Utility Locators
5.2.3 Opportunities
5.2.3.1 High Demand for Real-Time Utility Locating Services
5.2.3.2 Aging Infrastructure and the Increasing Need for Maintenance
5.2.4 Challenges
5.2.4.1 Lack of Expertise and Skillset
5.3 Value Chain Analysis
6 Utility Locator Market, By Technique
6.1 Introduction
6.2 Electromagnetic Field
6.3 Ground Penetrating Radar
6.4 Others
7 Utility Locator Market, By Offering
7.1 Introduction
7.2 Equipment
7.3 Services
8 Utility Locator Market, By Target
8.1 Introduction
8.2 Metallic Utilities
8.3 Non-Metallic Utilities
9 Utility Locator Market, By Vertical
9.1 Introduction
9.2 Oil & Gas
9.3 Electricity
9.4 Transportation
9.5 Water and Sewage
9.6 Telecommunications
9.7 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of APAC
10.5 Rest of the World
10.5.1 Middle East
10.5.2 Africa
10.5.3 South America
11 Competitive Landscape
11.1 Introduction
11.2 Market Player Ranking Analysis
11.3 Competitive Scenario
11.3.1 Product Launches
11.3.2 Acquisitions and Expansions
12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Radiodetection
12.2.2 Vivax-Metrotech
12.2.3 Guideline Geo
12.2.4 Ridge Tool Company
12.2.5 The Charles Machine Works
12.2.6 Sensors & Software
12.2.7 Leica Geosystems
12.2.8 3M
12.2.9 USIC
12.2.10 Multiview
12.3 Other Key Players
12.3.1 Ground Penetrating Radar Systems
12.3.2 on Target Utility Services
12.3.3 Geophysical Survey Systems
12.3.4 Mclaughlin
12.3.5 Utility Tool Company
12.3.6 Maverick Inspection
12.3.7 Detection Services
12.3.8 Rhd Services
12.3.9 One Vision Utility Services
12.3.10 Utilities Plus
For more information about this report visit https://www.researchandmarkets.com/research/m7ntc7/global_utility?w=5
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