The North America Utility Locator Market would witness market growth of 4.4% CAGR during the forecast period (2023-2030).
One of the primary uses of utility locators is in the construction industry. Construction projects often involve excavation activities, and accurately identifying underground utilities is crucial to prevent damage. Utility locators enable construction teams to detect and map the location of buried utilities such as gas lines, water pipes, and electrical cables. By doing so, construction companies can avoid costly disruptions, delays, and potential safety hazards associated with accidental utility damage. Utility locators are instrumental in municipal planning and development. City planners utilize these technologies to map existing underground utility networks. This information is essential for making informed decisions about infrastructure expansion, maintenance, and upgrades. Utility locators create accurate and comprehensive subsurface maps, facilitating effective urban development and minimizing the risk of disruptions to existing utility services.
The telecommunications industry relies heavily on underground infrastructure, including fiber-optic cables and communication lines. Utility locators assist in accurately identifying and mapping the location of these underground utilities. This is crucial for planning new installations, expansions, and maintenance activities. Using utility locators, telecommunications companies can avoid accidental damage to critical communication infrastructure, ensuring the reliability and continuity of services. Water and sewer utilities manage extensive networks of underground pipes. Using utility locators in this sector enables the precise location and mapping of water and sewer lines.
As per the report by the Canadian government, updated in 2020, the global telecommunications industry is transitioning from fourth-generation wireless technology (4G) to fifth generation (5G), which will drive future economic growth. This will result in approximately $26 billion in investments by Canadian telecommunications service providers in Canadian networks by 2026. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Utility Locator Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $296 million by 2030. The Canada market is experiencing a CAGR of 6.8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.8% during (2023 - 2030).
Free Valuable Insights: The Utility Locator Market is Predict to reach USD 1.2 billion by 2030, at a CAGR of 5.2%
Based on Technique, the market is segmented into Electromagnetic Field, Ground Penetrating Radar, and Others. Based on Offering, the market is segmented into Equipment and Services. Based on Application, the market is segmented into Telecommunications, Water & Sewage, Electricity, Oil & Gas, Transportation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Technique
By Offering
By Application
By Country
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