Published Date: 26-May-2023
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According to a new report, published by KBV research, The Global Utility Markers Market size is expected to reach $475.8 Million by 2029, rising at a market growth of 6.5% CAGR during the forecast period.
The Programmable segment is showcasing a CAGR of 5.6% during (2023 - 2029). This is because programmable markers make designing buried telecom lines a few feet underground simple. A special self-leveling function on them guarantees that the marker is always facing the surface, enabling precise positioning. The risk of unintentionally excavating other underground infrastructure is decreased because of these indicators' accurate identification of buried telecom wires.
The Telecommunications segment is leading the Global Utility Markers Market by Utility Type in 2022 thereby, achieving a market value of $164.2 Million by 2029. This is because the telecoms industry is anticipated to expand quickly, raising demand for utility markers. This is due to the rising need for telecom services, fast internet, and higher adoption of 5G networks. To meet consumer and industry demand, governments around the world are investing in the telecommunications sector's expansion.
The Tape Markers segment has shown the growth rate of 6.9% during (2023 - 2029). This is due to the fact that these tapes come in flexible ribbons and are intended to identify underground utilities like gas, water, electricity, and fiber optic cables. They are primarily utilized to find wires, conduits, and pipes made of plastic underground. They can generally be detected up to a depth of a few feet. The utility provider can also modify the legend on the tape.
The North America market dominated the Global Utility Markers Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $175.6 Million by 2029. The Europe market is exhibiting a CAGR of 6.3% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 7.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/utility-markers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 3M Company, Radiodetection Ltd. (SPX Technologies, Inc.), Dura Line ltd. (Orbia Advance Corporation, S.A.B. de C.V.), Tempo Communications, Inc., Komplex s.r.o., Hexatronic Group AB, RYCOM Instruments, Inc., Berntsen International, Inc., Trident Solutions, Inc., and National Marker Company (Justrite Safety Group).
By Utility Type
Unique Offerings from KBV Research
North America Utility Markers Market size & Opportunities 2023-2029
Europe Utility Markers Market & Growth Forecast 2023-2029
Asia Pacific Utility Markers Market Share & Industry Outlook to 2029
LAMEA Utility Markers Market Growth, Trends & Forecasts 2023-2029