(MENAFN- GlobeNewsWire - Nasdaq) Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "utility markers market by type (ball markers, disk markers, tape markers, spike markers), configuration (passive, programmable), utility type (gas, power, telecommunications, water & wastewater) and region - global forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global utility markers market size is estimated to grow from USD 341 million in 2023 to USD 471 million by 2028, at a CAGR of 6.7%.
It is imperative that while developing new infrastructure or upgrading the old infrastructure, the existing assets should not be damaged. Hence, underground utility identification plays a crucial role.
The correct location of underground utilities allows contractors to map all the utilities and create a plan, which ensures that new infrastructure is constructed in a way that prevents interfering with existing utilities and reduces the risk of accidents or damage.
Passive segment to hold the largest share of utility markers market during the forecast period
Passive markers are also referred to as analog or non-ID markers. These markers are designed to permanently mark underground buried or line structures. Passive markers offer cost-effective and reliable marking solutions for significant and less significant points of underground line structures. Hence, they are a viable marking solution for applications such as gas, power, telecom, and water utilities. These markers are widely used in underground utility detection, such as gas pipelines, optical and telecommunication cables, sewage pipelines, power cables, and water pipelines.
Water & wastewater utility type is expected to grow at a steady CAGR during the forecast period
An underground water pipeline distribution system has buried pipes that transport water to residential and industrial structures. These pipelines are used to transport drinking water lines, sewage lines, and reclaimed water lines. Utility markers such as ball and tape markers are increasingly used in water & wastewater applications to mark and locate valves, plastic pipes, buried service drops, tees, conduit stubs, main/service coupling, and clean-outs. Countries worldwide are constantly working on the upgradation and expansion of their water & wastewater pipeline networks for the smooth functioning of water supply. This is expected to drive the adoption of utility markers in water & wastewater applications.
The market in Europe is expected to grow at an impressive CAGR during the forecast period
Germany is among the leading economies in Europe and one of the largest markets for utility markers in Europe. The focus on the development and maintenance of public infrastructure for high-quality services and safety drives the domestic demand for utility markers. The government of Germany is focusing on increasing its share of renewable energy sources in its overall electricity generation; hence, investments are being made to construct renewable energy infrastructure. The strong focus of Germany on developing its power/electricity infrastructure is expected to fuel the growth of utility markers in the country.
Market Dynamics
Drivers
Advantages of Electronic/RF Markers Over Traditional Marking Technologies Growing Importance of Utility Location Techniques to Ensure Safety of Underground Assets Government Regulations and Mandates for Utility Location and Mapping Infrastructural Developments and Upgrades
Restraints
Lack of Awareness and Standardization in Emerging Economies
Opportunities
Growing Significance of Real-Time Data for Enhanced Utility Management Rapid Growth in Telecommunications Industry
Challenges
Technical Issues and Availability of Other Competing Solutions
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $341 Million |
| Forecasted Market Value (USD) by 2028 | $471 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Utility Markers Market, by Type
6.1 Introduction
6.2 Ball Markers
6.2.1 Self-Leveling Designs and Programmable Features to Drive Market
6.3 Disk Markers
6.3.1 Increased Usage for Locating Flush-Mounted Facilities to Boost Market
6.4 Tape Markers
6.4.1 Cost-Effectiveness of Tape Markers to Propel Market
6.5 Others
7 Utility Markers Market, by Configuration
7.1 Introduction
7.2 Passive
7.2.1 Use in Diverse Applications to Contribute to Market Growth
7.3 Programmable
7.3.1 Deployment in Less-Depth or Narrow Trenches to Favor Market Growth
8 Utility Markers Market, by Utility Type
8.1 Introduction
8.2 Gas
8.2.1 Use of Utility Markers in Safely Locating Buried Gas Lines to Help Market Growth
8.3 Power
8.3.1 Increased Investments in Power Industry to Drive Market
8.4 Telecommunications
8.4.1 Rising Demand for Telecom Services and Internet Connectivity to Trigger Market Growth
8.5 Water & Wastewater
8.5.1 Continuous Upgrade and Expansion of Water Pipeline Networks to Drive Market
9 Utility Markers Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent and Related Markets
13 Appendix
Companies Mentioned
3M Company Berntsen International, Inc. Campbell International Damage Prevention Solutions, LLC Dura-Line Corporation Hexatronic Group Ab Kelmaplast G. Kellermann Gmbh Komplex Marking Services, Inc. National Marker Company Northtown Company Omega Marking Company Prosolve Radiodetection Ltd. Rycom Instruments, Inc. Savitri Telecom Services Seton Shenzhen Eedeng Technology Co. Ltd. Sparco Multiplast Pvt. Ltd. Svwci Tempo Communications, Inc. Trident Solutions Trumbull Manufacturing Vhl Engineering
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