Report: Global Underground Utility Locator Market to Reach $11 Billion by 2025
11/1/2017
According to a new report published by Global Market Estimates, the underground utility locator market is expected to reach $11.21 Billion by 2025, due to the following:
- Increasing spending on infrastructure development and residential & non-residential construction activities
- Oil & gas pipeline projects undertaken in developing & developed countries
- Technological advancements such as drone mapping, which allow companies to reduce time and cost in locating underground utilities.
Other key findings from the report:
- The electromagnetic induction segment currently holds the largest share and is projected to grow at the highest CAGR.
- Electromagnetic induction is currently the preferred method of detecting underground metal pipes
- Radio detection and ground penetrating radar are two of the other most prominent technologies used by excavators & contractors in locating underground public utilities
- Developing countries such as India, China, Russia, and Ukraine are expected to construct major natural gas pipeline networks, boosting demand for underground utility locators
- The demand for natural gas in industrial and domestic use is expected to increase excavation activities, which will increase demand for underground utility locators
- The underground utility locator market in Asia Pacific is expected to grow at the highest CAGR
- Public & private initiatives to develop industrial facilities and residential & commercial establishments are projected to also foster market growth
Related News
From Archive
Sign up to Receive Our Newsletter
- DeLa Express seeks FERC approval for Permian-to-Louisiana gas pipeline project
- OSHA penalizes Houston contractor over safety violations resulting in worker's death
- Fiber infrastructure has no known expiration date, Fiber Broadband Association research concludes
- Nevada OSHA fines Elon Musk's Boring Company over safety violations in Vegas tunnel project
- Damage prevention and safety: Turning awareness into action
- Ditch Witch 1030
- Michigan lawmakers introduce bills to create septic codes throughout the state
- Indiana American Water to gain 8,000 water customers with Silver Creek Water acquisition
- Arkansas governor allocates $42 million for water infrastructure projects
- Federal judge finds Flint, Mich, in contempt over lead water pipe crisis
Comments