The Global Electromagnetic flowmeter market was USD 2.25 billion in 2022 and is likely to reach USD 3.52 billion by 2031, expanding at a CAGR of 5.1% during 2023 – 2031. The growth of the market is attributed to the rising demand for reliable measurement and monitoring of industrial fluids for optimum utilization.
Expanding industrial activity and soaring energy demand is expected to create a substantial requirement for water treatment plants. Thereby, leads to rising demand for electromagnetic flow meters by the end-user industry. Furthermore, rapid population growth has fuelled the demand for water.
An imprudent consumption of water in industrial and residential sectors out-turns the need for wastewater treatment plants. Subsequently, propel the market of electromagnetic flow meters. Additionally, technological advances in flow meter and stringent legislative requirements uplift the demands for electromagnetic flow meters.
There are hordes of trends prevailing in the global electromagnetic flow meters market, including the requirement for a new architecture. The rising need for more data and the ability to monitor supplementary characteristics in liquid other than flow has become more essential. Furthermore, developments in technology for more productivity and efficiency in the manufacturing process boosts the requirement for faster and accurate electromagnetic flow meters.
The world is observing the rising need for water and food. Owing to this, innovative agricultural practices are vital, modern irrigation, also entitled as irrigation 4.0, is considered as an essential tool for industrial revolution that combines digital, mechanical and human inputs, and tools.
The Covid-19 pandemic had an unpleasant impact on the electromagnetic flowmeter market. The production has been on halt and both the demand and supply ware affected. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
Rising population and shortage of water are key factors responsible for the expansion of electromagnetic flowmeter market.
Technological innovations and advances in irrigation?are anticipated to spur the market growth.
The inability to measure non-conductive fluids? is likely to impede the market growth, further it act as a barrier for the oil and gas and refining industries
R&D investment and technological advancement in electromagnetic flowmeter market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the electromagnetic flowmeter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Electromagnetic Flowmeter Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product ( In-line Magnetic Flowmeters, Low Flow Magnetic Flowmeters, and Insertion Magnetic Flowmeters), Application (Water and Wastewater, Chemicals and Petrochemicals, Power Generation, Metals and Mining, Oil and Gas, Food and Beverage, Pulp and Paper, and Pharmaceuticals)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
ABB Group, ONICON Incorporated, Badger Meter, Inc., McCrometer, Inc., Liquid Controls Group (IDEX Corporation), Endress+Hauser Group, Isoil Industria SpA, KROHNE Messtechnik GmbH, Tokyo Keiso Co., Ltd., Aichi Tokei Denki Co. Ltd. And VTM-UTAM
Market Segment insights
The in-line magnetic flowmeters segment is projected to constitute a large market share
Based on product, the electromagnetic flowmeter market is segregated into In-line magnetic flowmeters?, low flow magnetic flowmeters?, and insertion magnetic flowmeters. The in-line magnetic flowmeters segment is expected to account for a key share of the market during the forecast period owing to its wastewater application such as measuring the velocity of conductive liquids in pipes, acids and slurries. Further, it can also measure accurately when the electrical conductivity of liquid is high.
Water and wastewater segment is expected to register a substantial CAGR
Based on application, the electromagnetic flowmeter market is divided into water and wastewater, chemicals and petrochemicals, power generation, metals and mining, oil and gas, food and beverage, pulp and paper, and pharmaceuticals.
The water and wastewater segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to accelerated urbanization, population growth and economic development the amount of wastewater generated and its overall pollution load is rising worldwide.
Therefore, availability of a safe and sufficient amount of water supplies is closely linked to how wastewater is managed. Furthermore, treated and untreated sewage, processed water, water, and chemicals are measured by electromagnetic flowmeters.
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia pacific is anticipated to expand at a robust CAGR during the forecast period. Increasing requirements in waste water treatment plants are anticipated to boost the market growth over the coming years.
The electromagnetic flowmeter market has been segmented on the basis of:-
- In-line Magnetic Flowmeters
- Low Flow Magnetic Flowmeters
- Insertion Magnetic Flowmeters
- Water and Wastewater
- Chemicals and Petrochemicals
- Power Generation
- Metals and Mining
- Oil and Gas
- Food and Beverage
- Pulp and Paper
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- ABB Group
- Badger Meter, Inc.
- ONICON Incorporated
- McCrometer, Inc.
- Liquid Controls Group (IDEX Corporation)
- Endress+Hauser Group
- Isoil Industria SpA
- KROHNE Messtechnik GmbH
- Tokyo Keiso Co., Ltd.
- Aichi Tokei Denki Co. Ltd.
Key players competing in the electromagnetic flowmeter market include ABB Group, ONICON Incorporated, Badger Meter, Inc., McCrometer, Inc., Liquid Controls Group (IDEX Corporation), Endress+Hauser Group, Isoil Industria SpA, KROHNE Messtechnik GmbH, Tokyo Keiso Co., Ltd., Aichi Tokei Denki Co. Ltd. And VTM-UTAM.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instances,
In March 2020, Micro Motion ProcessViz was introduced by Emerson, which is a cost-effective software solution for flow meter process data visualization. It provides significant visualization of data and translates into directly functional information, aiding plant operators in the food and beverage, chemical, and oil and gas industry.
In March 2020, Yokogawa Electric Corporation Hitachi Capital Corporation, , and Amnimo Inc., entered into a extensive partnership agreement with the aim of providing new services by adding Industrial IoT to each company's lease equipment and technologies. This alliance is projected to provide high value-added services, such as offering consultation on the efficient use of equipment and measurement of operating status data.
In May 2019, Endress+Hauser invested in sensor technology. Its subsidiary, i.e. Innovative Sensor Technology IST AG, has enlarged its plant in Ebnat-Kappel, Switzerland. This is likely to nutrilize the rising demand for innovative sensors, and promotes the growth of innovative Sensor Technology IST AG.
In March 2017, Gas launched & GE Oil a new product - TransPort PT900 Portable Ultrasonic Flow meter, which is a clamp-on meter for liquid flow measurement. This device has clamping fixtures and transmitter that enable application-driven user interface on an Android tablet.