Global Utility markers Market Size To Exceed USD 683.7 Million By 2032 | CAGR of 7.9%Category: Advanced Materials
Global Utility Markers Market Size To Exceed USD 683.7 Million By 2032
According to a research report published by Spherical Insights & Consulting, the Global Utility Markers Market Size is to grow from USD 318 million in 2022 to USD 683.7 million by 2032, at a Compound Annual Growth Rate (CAGR) of 7.9% during the projected period.
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Browse key industry insights spread across 200 pages with 117 market data tables and figures & charts from the report on "Global Utility Markers Market Size, Share, and COVID-19 Impact Analysis, By Type (Ball Markers, Disk Markers, Tape Markers, Spike Markers), By End-Users (Telecommunication, Water and Wastewater, Power, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/utility-markers-market
Utility markers can locate the exact location of the subsurface utility. These markers are implanted underground with ducts, wires, and pipes that convey to utility locators the specific physical attributes of subterranean utilities. Contractors can locate all utilities and develop a strategy using the precise location of subterranean utilities obtained from utility markers, ensuring that new infrastructure is constructed without disrupting existing infrastructure and lowering the likelihood of accidents or damage, which in turn boosts the market growth. The benefits of electronic markers over conventional marking technologies, the growing need for utility location techniques to protect underground assets, government mandates for utility location mapping, and the expansion of infrastructure development and improvement projects globally are some of the key factors propelling the utility markers market.
The ball markers segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global utility markers market is segmented into the ball markers, disk markers, tape markers, and spike markers. Among these, the ball markers segment is dominating the market with the largest revenue share of 38.6% over the forecast period. These markers include a self-leveling feature that ensures they remain horizontal no matter where they are placed on the ground's surface. Ball markers are widely used in utilities such as gas, electricity, telecommunications, water, and wastewater. Furthermore, the tape marker segment is likely to grow the fastest over the forecast period.
The telecommunication segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of end-users, the global utility markers market is segmented into telecommunication, water and wastewater, power, and others. Among these, the telecommunication segment is dominating the market with the largest revenue share of 57.2% over the forecast period. The telecoms sector is expected to expand fast because of the rising demand for telecommunications services, high-speed internet, and the increasing penetration of 5G networks, which will fuel the demand for utility markers. Furthermore, the gas utility segment is expected to grow the fastest, with the highest CAGR during the projected period.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. The Asia Pacific utility markers market is dominated by China, India, Japan, and South Korea. The rapid economic boom in China and India is primarily driving demand for utility markers. Furthermore, Asia Pacific countries are increasing their investments in telecom and power infrastructure expansion. On the other hand, North America is predicted to expand the fastest during the forecast period. The key reasons fueling the growth of the North American utility markers market are the deterioration of existing infrastructures and the continual construction of new infrastructure. During the forecast period, the Europe market is expected to rise at a significant CAGR. The country's major emphasis on building its power/electricity infrastructure is expected to boost utility market expansion in Germany.
Major vendors in the Global Utility Markers Market include Rycom Instruments, Inc., Hexatronic Group, Komplex, Seton, National Marker Company, 3M Company, Berntsen International, Inc, Dura-Line Corporation, Trident Solutions, Tempo Communications, Inc., Radiodetection Ltd., Marking Services, Inc., Sparco Multiplast Pvt. Ltd., Shenzhen Eedeng Technology Co. Ltd., and among others.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On May 2023, Marking Services, Inc. announced the release of three new CO2 Pipe Markers. These markers were designed to fit the growing need within the CO2 Industry. With Self-Adhesive, Coiled, or Carrier options available these Pipe Markers are ideal for any harsh environments.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Utility Markers Market based on the below-mentioned segments:
Utility Markers Market, Type Analysis
- Ball Markers
- Disk Markers
- Tape Markers
- Spike Markers
Utility Markers Market, End-Users Analysis
- Water and Wastewater
Utility Markers Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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