Global Utility Locator Market 2019-2023| Industry Analysis and Forecast| Technavio
LONDON--(BUSINESS WIRE)--Nov 13, 2018--Technavio ’s global utility locator market research report forecasts the market to grow at a CAGR of around 6% during the forecast period.
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Technavio has released a new market research report on the global utility locator market for the period 2019-2023. (Graphic: Business Wire)
The increase in gas pipeline laying projects will be one of the major trends in the during 2019-2023. The shift to piped natural gas for industrial and domestic purposes will lead to an increase in gas pipeline laying projects across the globe. The increasing number of projects in the natural gas industry will need detailed studies and surveys of underground facilities. Additionally, the pipelines need to be monitored regularly to detect leakages or damages to underground gas pipelines. These factors will promote utility locator market growth.
According to Technavio’s analysts, one of the key drivers for the global utility locator market is the growing safety and security concerns regarding protection of underground utilities:
Global utility locator market: Growing safety and security concerns regarding the protection of underground utilities
The damage caused to underground services due to street works, excavation, drilling, piling, demolition, site investigation, and surveys can cause fatal accidents. For instance, there were more than 310 fatalities caused by underground cable strikes in the UK during 2012-2017. This has led to an increase in utility search programs owing to the growing safety and security concerns regarding underground utilities.
According to a senior analyst at Technavio for research on specialty chemicals, “The end-user industries such as telecommunication, oil and gas, energy, public work departments, and construction deploy utility locating devices such as hum detectors, radio frequency detectors, metal detectors, ground probing radar, and RFID to detect, identify, and mark underground utilities to reduce the risk of fatal accidents. The growth of the utility locator market will be steady during the forecast period due to the increasing use of such devices.”
Global utility locator market: Segmentation analysis
This global utility locator market analysis report provides market segmentation by technology (electromagnetic field utility locator and GPR) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major technology segments, the electromagnetic field utility locator segment held the largest utility locator market share in 2018, contributing to over 59% of the market. This technology segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for close to 42% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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