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Global Underground Tracer Wire Market InsightFebruary 14, 2022 Comments
The Underground Tracer Wire is forecast to crazy over the next few years. According to WK-chem Research, “Global Underground Tracer Wire Professional Survey Report 2022, Forecast to 2027”, The Underground Tracer Wire industry is growing rapidly because of policy support . The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 5.1% base on WK-chem Research regression analysis model.
“In recent years, as more and more cables are buried underground, the rise in infrastructure projects and rising investment in the telecom industry have become increasingly important, which are some of the factors driving the growth of the underground tracer wire market” said Eva Joy, Senior analyst, Chemical & Materia Market Research Center in WK-chem Research.
The factors driving the growth of this market are increasing demand from various industries such as power, telecommunications, and water/wastewater. For example, growing calls for tighter regulation of natural gas leaks, leading to higher electricity prices, coupled with rapid urbanization and industrial development, making it one of the largest emerging economies, will drive the future growth potential of these products . Although it has many key drivers, there are also some restraining factors that will affect the growth of this market. The high initial cost of these wires may affect the growth of this market
The key players in the market are Tapex Group, Copperhead Industries, Domtech Inc, Southwire Company, Kris-Tech Wire, Performance Wire and Cable Inc, Kalas Manufacturing, Tracer Wire Technologies, Agave Wire. Market players are implementing expansion and mergers and acquisitions to increase market share.
Segmentation of Underground Tracer Wire:
Based on product type, the market is segmented into pure copper, copper-clad steel, stainless steel, and high molecular weight polyethylene. High molecular weight polyethylene is the main part because high molecular weight polyethylene has high density, strong mechanical strength to resist abrasion. It is resistant to many organic solvents as well as chemically concentrated acids and bases. Due to its extremely low moisture absorption, HDPE is also water and moisture resistant. High molecular weight polyethylene has better mechanical and environmental quality, has a long service life in underground conditions, and works as expected to detect and track underground utility lines.
On the basis of application, the market is segmented into natural gas industry, water and wastewater industry, power industry, telecommunications industry, and others. The water and wastewater industry accounted for the largest revenue share in 2020 and is also expected to witness the highest CAGR from 2021 to 2028. Water is an essential and most needed need for any home, which is why tracer lines are used heavily in the water and wastewater industry to allow workers to perform accurate digs and work efficiently without disrupting another environment.
Underground Tracer Wire Market: Regional Analysis:
On the basis of regional analysis, the global tracer wire market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is a major region for the global tracer wire market due to its large pipeline installation capacity and government regulations, and North America may have the largest pipeline maintenance market. The United States has the largest pipeline network in the world and makes heavy use of Tracer Wires.
Largest share area: North America
Largest share country: United States
Product Type (by product): pure copper, copper clad steel, stainless steel and high molecular weight polyethylene
Application: Gas Industry, Water and Wastewater Industry, Power Industry, Telecommunications Industry
Leading Companies: Tapex Group, Copperhead Industries, Domtech Inc, Southwire Company, Kris-Tech Wire