Utility Locator Market Worth $1,109 Million by 2027
Northbrook, IL 60062 -- (SBWire) -- 10/04/2022 --The utility locator market is projected to grow from USD 833 million in 2022 to USD 1,109 million in 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027. Increasing adaption of utility locator in water and sewage pipeline, oil & gas, telecommunication, transportation, electricity to overcome damages that incur high cost is driving the growth of the market.
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Artificial intelligence can be a ready solution to handle and process large amount of data in real-time and has demonstrated impactful effects in the utility locating market. AI provides the complete information about the condition of the infrastructure, power lines, and other utilities so that timely decisions can be taken by the decision makers. AI has enhanced the work of human being with its various tools and algorithms, and it will be the game changer in the utility locating market in the coming years. In September 2021, Guideline Geo (Sweden) introduced MALA Easy Locator Core, an AI enabled utility locating GPR solution. This offering enables user to interpret their data, in real time, by indicating and marking objects beneath the surface while measuring.
The ground penetrating radar(GPR) technique is expected to grow at highest CAGR between 2022 to 2027.
The GPR technique can non-destructively locate objects and subsurface structures in material like soil, rock, concrete, asphalt, wood and water. The GPR technique is used to locate buried pipes, tanks, manholes, cables, and other related buried objects, which cannot be located with electromagnetic locating or other methods. GPR has an advantage over other locating techniques as it helps in finding both non-metallic and metallic buried utilities. Radiodetection Ltd. (UK), Guideline Geo (Sweden), Ditch Witch(The Charles Machine works) (US), 3M (US) are some of the significant players that manufactures utility locators with GPR technology.
The market for utility locating services is expected to grow at a highest CAGR between 2022 and 2027. Various services pertaining to utility locating equipment include rental, training, inspection, calibration, and maintenance and repair services. Concern for safety and protection of underground utilities and because of high cost of utility locator equipment drive demend for utility services. multiVIEW (Canada), Ground Penetrating Radar Systems (GPRS) (US), and USIC (US) are some leading service providers of utility locators.
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Growing infrastructure is creating opportunities for utility locator, infrastructure required maintenance operations by utility locator system. The growing infrastructure in most of the developing countries as well as the inspection and analysis of aging infrastructure in most of the developed countries like the US, the UK, and Canada rely on reliable quantitative data to make informed decisions pertaining to the condition of the infrastructure. The aging infrastructure and increasing need for their maintenance in regions such as North America and Western Europe act as a major opportunity for the growth of the utility locator market.
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