Global Utility Markers Market Insights Forecasts to 2032
- The Global Utility Markers Market Size was valued at USD 318 Million in 2022.
- The Market is growing at a CAGR of 7.9% from 2022 to 2032
- The Worldwide Utility Markers Market is expected to reach USD 683.7 Million by 2032
- North America is expected to grow the fastest during the forecast period
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The Global Utility Markers Market Size is expected to reach USD 683.7 Million by 2032, at a CAGR of 7.9% during the forecast period 2022 to 2032.
Utility markers are capable of pinpointing the precise location of the subsurface utility. These markers are installed underground with ducts, wires, and pipes that relay the precise physical properties of subterranean utilities to utility locators. Through the precise location of subterranean utilities obtained from utility markers, contractors can locate all utilities and develop a strategy, maintaining that new infrastructure is constructed without disrupting the current infrastructure and lowering the likelihood of accidents or damage, which in turn boosts the market growth. Understanding the precise position of subterranean utilities is useful in infrastructure upgrade design and construction. This data can be utilized to maximize the efficiency of the site of new infrastructure, eliminate problems with currently operational utilities, and guarantee that renovations are performed in a secure, reliable, and cost-effective approach.
The major players in the global utility markers market are Rycom Instruments, Inc., Hexatronic Group, Komplex, Seton, National Marker Company, 3M Company, and Berntsen International, Inc. Companies in the market are implementing several tactics for corporate expansion, such as acquisition and creation of new products. Market competitiveness is primarily determined by long-term competitive advantages based on innovation, market saturation levels, and the effective implementation of advertising techniques.
Global Utility Markers Market Report Coverage
|Market Size in 2022:||USD 318 Mn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||7.9%|
|022 – 2032 Value Projection:||USD 683.7 Mn|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||117|
|Segments covered:||By Type, By End-Users and By Region.|
|Companies Covered:||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.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The majority of water, wastewater, communications, gas, and power pipes are installed underneath the surface level in both commercial and residential properties by governing bodies and other utility service providers, ensuring continuous delivery. Construction, drilling, or other haphazard excavation activities increase the risk of damaging utility lines and creating dangerous conditions should a pipeline leak occur. For the prevention of such situations, governments around the world have enacted legislation and mandates requiring previous utility identification and modeling. As a result, regulatory requirements and mandates are projected to boost the demand for the utility marker market throughout the forecast time frame.
Furthermore, the worldwide telecommunications business has been rapidly developing in recent years as a result of the rising demand for connectivity, technical improvements, and the growing popularity of mobile phones and other devices. The essential component needed for the telecom business to function continuously is the infrastructure supporting the delivery of telecommunications services. Any short-term interruption in communication services might result in massive losses for both the public and commercial sectors. This implies, marking, mapping, and locating subsurface telecom infrastructure is highly important. As a result of the rising telecommunications industry worldwide, the requirement for detecting and mapping subterranean telecom networks will continue to rise, driving demand for the utility markers market.
However, in many developing and emerging economies, there is a general lack of understanding of the significance of utility detection. This is particularly prevalent in sparsely populated regions, where small-scale subcontractors and individuals frequently complete building projects without the necessary knowledge or comprehension of the value of utility detection prior to excavating. Unorganized construction and excavation activity can lead to mishaps and irreparable harm to subsurface services like water and sewer lines, posing a major risk to the well-being of the public.
By Type Insights
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. When buried below, ball markers are formed like a ball and contain several components that protect them from dust, chemicals, and water. These markers include a self-leveling characteristic that ensures they stay horizontal no matter where they are placed on the surface of the ground. Ball markers are commonly used in utilities such as gas, power, telecommunications, and water and wastewater.
Furthermore, the tape marker segment is expected to grow fastest during the projected time frame. Tape markers are often referred to as visible tapes and subsurface warning tapes. These types of tape are flexible ribbons that are used to designate the location of underground utilities for example gas, water, electrical, and fiber optic cables. They are mostly used to pinpoint the location of underground flexible pipes, intermediaries, and wires.
By End-Users Insights
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 predicted to grow rapidly due to rising demand for telecommunications services, high-speed internet, and a growing penetration of 5G networks, fuelling the need for utility markers. Authorities throughout the world are investing in accelerating the growth of the telecommunications sector in order to meet consumer and commercial demand from different industries. Additionally, industrial sectors are embracing 5G technology in a variety of disciplines and expanding internet connectivity networks, resulting in increased telecommunications industry development. As a result, the demand for utility markers for subterranean lines is increasing.
Moreover, the gas utility segment is predicted to develop the fastest, with the highest CAGR during the period of projection. Gas is regarded as being among the most important application fields for utility markers. In the gas industry, utility markers are employed to pinpoint the exact position of gas pipelines and avoid inaccurate diggings, which may result in collateral harm. Gas utilities operate at distinct frequency bands, and these markings assist decrease the possibility of identifying and excavating other subsurface facilities by accident. The vast majority of gas pipeline location indicators are yellow.
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. China, India, Japan, and South Korea are prominent players in the Asia Pacific utility markers market. The demand for utility markers is mostly driven by growing economic expansion in China and India. Additionally, Asia Pacific nations are spending more money on telecom and power grid developments. Other significant factors boosting the application of utility markers include the increasing deployment of 5G wireless networks in developing countries and the growing number of gas pipeline networks in the region. Moreover, the nations in the region are always focusing on updating current infrastructure and creating new ones to meet the demands of an increasing population and industrialization. As a result, demand for utility markers is likely to rise rapidly in the Asia Pacific region.
North America, on the contrary, is expected to grow the fastest during the forecast period. The deterioration of existing facilities and the ongoing building of new infrastructure are the primary drivers driving the growth of the North American utility markers market. The use of utility markers is also supported by rising investments in the water, electricity grid, and broadband networks. Furthermore, governments in this region are constantly attempting to improve telecommunications services, which is fueling the need for utility markers.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Germany has one of the strongest economies in Europe and one of the continent's biggest markets for utility markers. The nationwide market for utility markers is driven by the emphasis on the creation and upkeep of essential public facilities for high-quality services and safety. Utility market expansion in Germany is anticipated to be fueled by the country's significant emphasis on building its power/electricity infrastructure.
List of Key Market Players
- Rycom Instruments, Inc.
- Hexatronic Group
- 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.
Key Market Developments
- 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.
- On January 2022, Trident Solutions, Inc. recently announced the acquisition of LEM products Inc., a producer of industrial identification goods such as labels, tags, markers, decals, and signage with headquarters in Pennsylvania. LEM was able to increase the scope of safety marking & identification thanks to the acquisition.
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
Frequently Asked Questions (FAQ)
1. What is the market size of the Utility Markers market?The Global Utility Markers Market is expected to grow from USD 318 million in 2022 to USD 683.7 million by 2032, at a CAGR of 7.9% during the forecast period 2022-2032.
2. Which are the key companies in the market?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.
3. Which segment dominated the Utility Markers market share?The telecommunication segment in end-users type dominated the Utility Markers market in 2022 and accounted for a revenue share of over 57.2%.
4. Which region is dominating the Utility Markers market?Asia Pacific is dominating the Utility Markers market with more than 38.7% market share.
5. Which segment holds the largest market share of the Utility Markers market?The ball markers segment based on type holds the maximum market share of the Utility Markers market.
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