According to a market report by Lucintel, the future of the ball marker market looks promising with opportunities in the gas, power, telecommunication, and water & wastewater markets. The global ball marker market is expected to reach an estimated $0.16 billion by 2028 with a CAGR of 6.2% from 2023 to 2028. The major drivers for this market are growing preference for markers with a distinctive self-leveling feature and significant application of this marker in gas and power, telecommunication, and water and wastewater industries.
In this market, passive and programmable are the two types of ball markers used by various end use industries. Lucintel forecasts that programmable is expected to witness a higher growth over the forecast period as it supports the storage of essential data on the markers for afterwards reading.
Within this market, power is expected to witness the highest growth over the forecast due to the significant use of ball markers to mark underground facilities in urban settings with dense networks and in rural areas with limited physical landmarks which can be used as map references.
APAC is expected to witness the highest growth over the forecast period due to the rapid urbanization and industrialization, existence of high-quality urban infrastructure in Japan, and the emergence of 5G wireless network in the region.
3M, Tempo Communications, Komplex, Hexatronic, and Radiodetection are the major suppliers in the global ball marker market.
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