Utility Markers Market Size

Utility Markers Market Size

Utility Markers Market size was valued at USD 300 million in 2022 and is anticipated to grow at a CAGR of over 7% between 2023 and 2032. It is critical that existing assets are not damaged while developing new infrastructure or upgrading the existing infrastructure. As a result, underground utility identification is critical. The accurate location of underground utilities provided by utility markers enables contractors to map all utilities and create a plan, ensuring that new infrastructure is built without interfering with the existing utilities and reducing the risks of accidents or damages, thereby increasing the market growth.

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The knowledge of the underground utility location is advantageous in infrastructure upgrade planning and designing. This information can be used to optimize the location of a new infrastructure, avoid conflicts with existing utilities, and ensure that upgrades are carried out in a safe, efficient & cost-effective manner.

Furthermore, local governments and other utility service providers install water, wastewater, telecommunication, gas, and power pipelines beneath the ground level in both public & private properties, ensuring continuous supply. Spontaneous excavation, construction, or digging processes can damage utility lines and create a hazardous situation if pipelines leak. To avoid these situations, governments around the world have implemented regulations and mandates for prior utility location and mapping. As a result, such regulations and mandates are expected to fuel the utility markers market revenue.