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Utility Markers Market Size

Report ID: GMI5713
Published Date: May 2023
Report Format: PDF

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Utility Markers Market Size

Utility Markers Market size was valued at USD 300 million in 2022 and is anticipated to grow at a CAGR of over 7% between 2023 and 2032. It is critical that existing assets are not damaged while developing new infrastructure or upgrading the existing infrastructure. As a result, underground utility identification is critical. The accurate location of underground utilities provided by utility markers enables contractors to map all utilities and create a plan, ensuring that new infrastructure is built without interfering with the existing utilities and reducing the risks of accidents or damages, thereby increasing the market growth.

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The knowledge of the underground utility location is advantageous in infrastructure upgrade planning and designing. This information can be used to optimize the location of a new infrastructure, avoid conflicts with existing utilities, and ensure that upgrades are carried out in a safe, efficient & cost-effective manner.

Utility Markers Market Report Attributes
Report Attribute	Details
Base Year:	2022
Utility Markers Market Size in 2022:	USD 300 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7%
2032 Value Projection:	USD 700 Million
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	232
Segments covered:	Type, Function, Application
Growth Drivers:	The increasing need to prevent damage to underground infrastructure Government regulations mandating the use of marking and locating equipment The growing adoption of advanced technologies such as GPR. Infrastructure development and upgrades Growing significance of real-time data for enhanced utility management
Pitfalls & Challenges:	lack of awareness and standardization in emerging economies Technical issue

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Furthermore, local governments and other utility service providers install water, wastewater, telecommunication, gas, and power pipelines beneath the ground level in both public & private properties, ensuring continuous supply. Spontaneous excavation, construction, or digging processes can damage utility lines and create a hazardous situation if pipelines leak. To avoid these situations, governments around the world have implemented regulations and mandates for prior utility location and mapping. As a result, such regulations and mandates are expected to fuel the utility markers market revenue.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of utility markers surpassed USD 300 million in 2022 and will observe over 7% CAGR from 2023 to 2032, driven by the rising need for ensuring reduced risks of accidents and damages.

Wastewater application segment is expected to record over 10% of the industry share by 2032, owing to the growing need for marking and locating valves, plastic pipes, buried service drops, tees, conduit stubs, main/service coupling, and clean-outs.

Asia Pacific market size will record more than 10% CAGR during 2023 to 2032, due to the rising demand in China, India, Japan, and South Korea.

Some of the well-known utility marker firms include 3M Company, Tempo Communications, Inc., Komplex, Radiodetection Ltd., Rycom Instruments, Inc., Seton, Berntsen International, Inc., and Trident Solutions.