Northbrook, IL 60062 -- (SBWIRE) -- 04/05/2023 -- The global utility markers market size is projected to grow from USD 341 million in 2023 to USD 471 million by 2028, at a CAGR of 6.7% during the forecast period according to a new report by MarketsandMarkets™. Utility markers are able to provide the exact location of the utility buried underground. These markers are placed with the ducts, cables, and pipelines underground, which convey the exact physical characteristics of underground utilities to the utility locators. The markers are independent of power supply and have a lifetime of around 30-50 years depending on the manufacturer and market type.
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The market for tape markers is expected to grow at a significant CAGR during the forecast period
Tape markers are also known as detectable and underground warning tapes. These tapes are designed as flexible ribbons to mark the location of buried utilities such as gas, water, electrical, and fiber optic lines. They are mainly used to locate underground plastic pipes, conduits, and cables. Their general detectable range/depth is up to 4 ft. The utility provider can also customize the legend on the tape. When installed correctly, the tape provides a clear path and location of utilities, preventing dangerous excavation accidents.
The gas utility type is projected to grow at steady CAGR from 2023 to 2028
Gas is considered one of the key application sectors for utility markers. Some key points where utility markers can be placed in gas lines include pipe paths, conduit stubs, valves, tees, road crossings, meter boxes, and snow-covered installations. Utility markers are used in the gas sector to identify the location of gas pipelines and avoid inexact excavations, which may cause damage. Gas utilities generally have different frequencies, and these markers help reduce the risk of accidental locating and excavation of other buried facilities. The gas pipeline location markers are yellow. Companies such as 3M Company (US) offer EMS markers that can be used to identify the location of gas pipes and are color-coded to APWA standards for visual reference. Another company, Hexatronic Group AB (Sweden), offers RF-detectable markers used for gas pipeline locations.
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North America is expected to hold the largest share of the utility markers market during the forecast period
North America held the largest share of utility markers market in 2022. The North American utility markers market includes the US, Canada, and Mexico. The aging infrastructure and continuous development of new infrastructure are the key factors boosting the growth of the utility markers market in North America. Growing investments in water, power grid, and broadband networks also support the adoption of utility markers. The North American government is increasingly investing in funding programs for infrastructural development. Furthermore, countries in this region are continuously working to deliver better telecommunication services, driving the demand for utility markers.
The key players in this market include 3M Company (US), Tempo Communications, Inc. (US), Komplex (Slovakia Hexatronic Group AB (Sweden), Radiodetection Ltd. (UK), Rycom Instruments, Inc. (US), Seton (US), Berntsen International, Inc. (US), and Trident Solutions (US).
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