Radiodetection Ltd. (UK) and Guideline Geo (Sweden) are the Key Players in the Utility Locator Market [2022-2027]
Chicago, Nov. 16, 2022 (GLOBE NEWSWIRE) — The report “Utility Locator Market by Technique (Electromagnetic Field, GPR), Offering (Equipment and Services), Target (Metallic Utilities and Non-Metallic Utilities), Vertical (Oil & Gas, Electricity, Transportation) and Region – Global Forecast to 2027″, The growth of the market is attributed to the concern for safety and protection of the underground utilities and benefits of utility locator over traditional technologies/ methods.
“[194 Pages Report] According to MarketsandMarkets, the utility locator market is projected to grow from USD 833 million in 2022 to USD 1,109 million by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% from 2022 to 2027.”
Key players in the Utility Locator Industry
- Radiodetection Ltd. (UK),
- Guideline Geo (Sweden),
- Rigid Tool Company (US),
- Ditch Witch (The Charles Machine works) (US),
- Leica Geosystems AG (US),
- Vivax-Metrotech Corporation (US),
- 3M (US), USIC LLC (US),
- multiVIEW Locates Inc. (Canada),
- Ground Penetrating Radar (US) among others
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=181874750
“Browse in-depth TOC on ” Utility Locator Market Size”
150– Tables
49 – Figures
194 – Pages
Radiodetection Ltd. Designs, develops, and markets locators and test equipment to prevent damage, manage assets, and protect lives. The company offers utility locators for water and sewage line, oil & gas, survey, power, telecommunication, sewer, municipal, construction. It offers high performance product line of utility locators, accessories, and software which includes pipeline integrity and corrison control, Ground penetrating radar, metal and magnetic locators, precision locator range, cable avoidance tools, plastic water pipe locator for identifying underground utilities that are difficult to locate. The company has a strong product range powered by the latest technology. The company operates its business globally through offices in the US, Canada, the UK, Germany, France, the Netherlands, China, India, Hong Kong, Indonesia and Australia.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=181874750
Guideline Geo offers sensors, software, services and support required for mapping and visualizing the underground surface. The company operates in 4 key areas such as detecting and mapping groundwater, environmental and geological risk assessments, infrastructure site investigations, and mineral exploration.
The company offers its utility locators under the brand name MALA. The company offers product line of utility locators, which includes MALA easy locatore core, MALA easy locator WideRange, MALA ground explorer (GX), MALA MIRA, MALA MIRA HDR, MALA GeoDrone 80, etc. The company has wide geographical presence in the Americas, Europe, Asia and Oceania, Africa and the Middle East.
Utility Locator Market Market Dynamics
Introduction of standards and ease in regulations pertaining to utility locators to drive market growth
The update in standards for the utility locators is helping to maintain the accuracy in underground utility surveys. For instance, the PAS 128 standards update of 2022 named as PAS 128:2022 which is the British standards institute (BSI) specification for underground utility location. The update of the standard enables the users to plan more effectively and provide safer execution of street works, civil works, and ground works. The publicly available specification (PAS) 256 standard is endorsed by the institute of civil engineers (ICE), British standard institute (BSI), and infrastructure UK in HM treasury. The update and launch of new utility standards in turn drives the utility locator adoption. For instance, China’s government is planning to invest heavily in different infrastructural development projects, such as transportation and railway infrastructure development projects.According to a news published in January 2022 in China Macro Economy newsletter, the cabinet of China has started work to quicken the pace of 102 major projects outlined in its 2021–2025 development plan. The country is prone to frequent natural disasters such as earthquakes and landslides, which increases the need to monitor and inspect the structures in real time.
Rising demand for real-time utility locating for underground utilities to create growth opportunities for the market
The increasing need for real-time analysis of underground utilities, concrete structures, roads, railway lines, etc., is one of the emerging concepts and new trends in the utility locator market. Different techniques are used such as electromagnetic field, ground penetrating radar and other for locating. Advanced methods enable respective utility owners to perform real-time analyses of their underground utilities. Utility locating equipment and service providers have started using fleet telemetry systems, GPS devices, GIS data devices, and GPR devices comprising multiple GPR antennas, called ‘GPR Arrays’, allow surveying the areas more quickly by collecting several GPR profiles simultaneously and offer 3D images of the objects and a more refined data capture ability feature and other sensors to collect location-based data on underground utilities.
High cost of ownership and maintenance of utility locator restrain the market growth
Price is the major factor in restraining the growth of the market since utility locating equipment are more expensive than manual digging. The cost of ownership of these locating equipment starts from around USD 1,000 and goes to USD 5,800, depending on the type and capabilities and features of the equipment. The average selling price of GPR equipment ranges from USD 20,000–USD 25,000, depending on the type, capabilities, and features.Apart from the cost of purchase, the total cost of utility locating equipment include the maintenance cost, communication equipment, cost of business (including the repair & maintenance, wages), training of staff and their quality assurance, etc. For operating the utility locators there is a need high skilled manpower to operate the utility locating equipment.
Related Reports:
- The NDT and Inspection Market size is estimated to grow from USD 8.4 billion in 2020 to USD 11.7 billion by 2025, at a CAGR of 7.0% from 2020 to 2025..
- The Ground Penetrating Radar Market size is predicted to grow from USD 315 million in 2022 to USD 453 million by 2027, at a CAGR of 7.5%.
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
