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The Global Utility Locator Market size is expected to reach $7.8 billion by 2024, rising at a market growth of 5.5% CAGR during the forecast period. Concern for safety and security of underground utilities, better and advanced utility locating technologies over traditional utility locating methods, and government initiatives to implementation of utility locators are the factors that drive the growth of the utility locator market. Significant cost of ownership, high maintenance cost and lack of experts with necessary skillsets are the factors that are limiting the market growth. Nevertheless, factors such as growing demand for real-time utility locating services and aging infrastructure and growing need for the maintenance of the same would offer opportunities for the market growth.
Based on Offering, the market is segmented into Equipment and Services. Based on Technique, the market is segmented into Electromagnetic Field, Ground Penetrating Radar, and Others. Based on Target, the market is segmented into Non-Metallic and Metallic. Based on Vertical, the market is segmented into Telecommunications, Oil & Gas, Water & Sewage, Electricity, Transportation, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the analysis of key stake holders of the Global Utility Locator Market.
Key companies profiled in the report include SPX Corporation (Radiodetection), Emerson Electric Co. (Ridge Tool Company), Hexagon AB (Leica Geosystems Holdings AG), 3M Company, SebaKMT Holding GmbH (Vivax-Metrotech), Guideline Geo, The Charles Machine Works, Inc., Sensors & Software, Inc., USIC and multiVIEW Locates Inc.