USD 8.5 billion
Magnetic Flowmeter Market Size, Share, Growth Analysis, By Application(Metal & Mining, Chemicals, Oil & Gas, Food & Beverage), By Type(electric, solar and battery-powered), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2179 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
66
|Figures:
75
Magnetic Flowmeter Market Insights
Magnetic Flowmeter Market size was valued at USD 8.87 billion in 2022 and is poised to grow from USD 9.38 billion in 2023 to USD 14.61 billion by 2031, growing at a CAGR of 5.70% in the forecast period (2024-2031).
The market is anticipated to increase over the course of the forecast period as a result of the rising demand for flow rate measurement in O&G management applications worldwide. Over the projection period, additional industries like water and wastewater, power generation, and pulp and paper will also start to utilize measurement technology and instruments more widely.
Due to the recent discovery of shale gas deposits in North America, Europe, and the Asia Pacific, the adoption of goods would be particularly significant in the oil and gas, chemical, and petroleum refinery industries. As smart measurement solutions have been introduced as a result of IoT integration, it is anticipated that demand for intelligent systems would rise in the near future. Because of the Coriolis flowmeter's improved smart capabilities to measure the rate more precisely, it is predicted that demand for them will rise.
The market's participants are actively investing in order to deliver cutting-edge products and solutions to measure the flow rate of liquids, gases, and vapours. They are mostly focusing on the oil and gas industry. Additionally, one of the major applications generating fruitful potential for Coriolis and ultrasonic flowmeters is custody transfer in the oil and gas industry. The instruments are simple to maintain, lowering maintenance costs, which may be a key growth factor over the forecast period. Water scarcity and rising population in countries such as China and India may result in significant growth in the water treatment industry, opening up new opportunities in the near future. Several suppliers are incorporating cutting-edge technology into their products, such as an adhesion diagnostic level function that monitors the working condition of electrodes.
US Magnetic Flowmeter Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
solar
Fastest Growth
solar
Growth Rate
5.7% CAGR
Global magnetic flowmeter Market ($ Bn)
Country Share for Europe Region (%)
To get more reports on the above market click here to Buy The Report
Magnetic Flowmeter Market Segmental Analysis
The global flow meter market is segmented into application, type, and region. On the basis of application, Magnetic Flowmeter Market is segmented into Metal & Mining, Chemicals, Oil & Gas, Food & Beverage, Pharmaceutical, Water & Wastewater Treatment, and Others. By type Magnetic Flowmeter Market is segmented into electric, solar and battery-powered. By region, the Magnetic Flowmeter Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Magnetic Flowmeter Market Analysis by Application
The Magnetic Flowmeter Market is divided by Application into Metal & Mining, Chemicals, Oil & Gas, Food & Beverage, Pharmaceutical, Water & Wastewater Treatment, and Others. During the forecast period, the water and wastewater treatment market for magnetic flowmeters is expected to develop at a CAGR of 6.8%. Magnetic flowmeters are used in wastewater treatment facilities to measure treated and untreated sewage, chemicals, and raw water. The variables that cause a greater volume of wastewater production are population increase, economic development, and urbanisation. Due to environmental rules, the need for wastewater treatment is growing, and many nations are making one-time investments to build new wastewater treatment facilities.
Magnetic Flowmeter Market Analysis by Type
In 2022, the battery-powered market category had the greatest revenue share, accounting for around 47% of the overall market share. The solar power type category is projected to develop at a rate of 7.5%. Due to their portability, simplicity of use, and capacity to use rechargeable batteries, battery-powered devices are widely used on the global market. Solar power systems are particularly efficient in remote areas without access to regular power sources, and they are also an inexpensive, clean source of energy. The solar panel, battery, enclosure, and charge regulator make up the majority of a solar power system.
Global magnetic flowmeter Market By Type
To get detailed analysis on other segments, Request For Free Sample Report
Magnetic Flowmeter Market Regional Insights
North America came in second to Europe as the market leader, accounting for more than 35% of worldwide sales. Power generation in Europe has a high rate of system adoption, which helps the local market expand. In the area, there will likely be a rise in demand for magnetic, ultrasonic, and Coriolis flow metres for O&G management. There are many producers and suppliers of flow rate measuring goods and services in Europe, including Endress+Hauser AG, Krohne Messtechnik GmbH, and ABB Ltd. Europe thus held the biggest market share in 2021, and this trend is anticipated to persist throughout the forecast period.
North America has several well-known market participants, such as General Electric, Emerson Electric Corporation, and Honeywell International Inc. As a result, the region commands a sizable revenue market share. It is expected that APAC would experience a significant CAGR of more than 7%. Due to ongoing advancements in the water and wastewater management sector, the market in India and China is anticipated to increase significantly over the forecast period.
Global magnetic flowmeter Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Magnetic Flowmeter Market Dynamics
Magnetic Flowmeter Market Drivers
Its Demand in the Mining Business to Bolster Market Growth
- Mining businesses are implementing Magnetic Flowmeters to measure process water, process slurry flow, and heavy media flow with specific liners to reduce abrasion as mineral processing technology is developing quickly. Due to the fact that it measures the amount of pulp being dumped into the landfill, the Magnetic Flowmeter is absolutely necessary to comply with environmental protection standards.
- The removal of the wiring constraint is one of the key elements influencing the market. The wireless communication technology makes it simpler to keep an eye on rotating machinery, which will help the magnetic flowmeter sector grow. A magnetic flowmeter is a device that measures conductive or water-based volumetric flow, including pulp and paper slurries and alcohol.
Magnetic Flowmeter Market Restraints
High Cost to Hinder Market Growth
- A few challenges that could impede the growth of the flow metre market include labour skill concerns related to the operational operations of smart systems and high initial prices associated with these cutting-edge goods. It is anticipated that the lengthy calibration process for the product will make expanding the market difficult.
Request Free Customization of this report to help us to meet your business objectives.
Magnetic Flowmeter Market Competitive Landscape
The following companies are significant players in the market: ABB LtdEmerson Electric Corporation, General Electric, Krohne Messtechnik GmbH, HÖNTZSCH GMBH & Co. KG, Hitachi High-Tech Corporation, and Siemens. In the Asia Pacific, there are a few notable industry players. The companies that compete in this market are situated in China and Japan, including Yokogawa Electric Corporation, Toshiba, Tokyo Keiso Co., Ltd., and Tianjin Yihuan Automatic Instrument Technology Co., Ltd. With the aid of alliances, joint ventures, and acquisitions, these businesses are concentrating on targeted geographic expansions.
Magnetic Flowmeter Market Top Player's Company Profiles
- Emerson Electric Co.
- Siemens AG
- ABB Ltd.
- Honeywell International Inc.
- Yokogawa Electric Corporation
- KROHNE Messtechnik GmbH
- Schneider Electric SE
- Endress+Hauser AG
- Hitachi, Ltd.
- Badger Meter, Inc.
- Dwyer Instruments, Inc.
- SMC Corporation
- Azbil Corporation
- Magnetrol International Incorporated
- Seametrics Inc.
- Omega Engineering, Inc.
- Krohne Ltd
- Flowserve Corporation
- Hedland Flow Meters
- MJK Automation A/S
Magnetic Flowmeter Market Recent Developments
- In March 2021, Krohne Messtechnik GmbH, a global manufacturer of flowmeters, announced the launch of a new AF-E400 Ultra-Compact Magnetic Flowmeter specially designed for utility industrial automation. It is the perfect choice for applications with conductive fluids in tight spaces.
Magnetic Flowmeter Key Market Trends
- Magnetic Flowmeters are becoming more popular in irrigational applications. Because there are no moving parts, they are free of wear and tear and require no upstream strainers to filter out sediments. Ceramic linings, for example, are chosen for additional protection against abrasive flows. Magnetic Flowmeters help to reduce metre piping, which reduces installation time and cost.
- Magnetic flow metres have seen numerous advancements in recent years, including the introduction of wireless connectivity and compatibility with smart devices. Despite some limitations due to non-conductive fluids, electromagnetic induction technology is a good fit for liquid flow measurement. Once calibrated with water, the magnetic flow metre can be used to measure other types of conductive fluid with no additional correction.
Magnetic Flowmeter Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global magnetic flowmeter market analysis, The growing adoption of magnetic flow metres in various end-use industries is expected to drive the global magnetic flow metre market during the forecast period. As demand for volumetric filling systems in the food and beverage industry grows, the food and beverage industry is one of the key end-use sectors for magnetic flow metres.
Furthermore, variable area flow metres are gaining popularity for a variety of applications in the food and beverage industries. Magnetic flow metres are increasingly being used in water and wastewater treatment to monitor the flow of various sewages through open channels and pipes. Some manufacturers have already introduced new advanced technologies in flow metres for customer benefit in order to make flow rate measurement easier and more reliable. Some product lines are battery-powered, with local and remote flow rate displays in locations where equipment is subjected to various environmental elements. Continuous instrument miniaturisation is another significant advancement in magnetic flow metres. This is due to the fact that the flow element only needs to be slightly larger than the pipe or tube carrying the conductive liquid.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.87 billion |
| Market size value in 2031 | USD 14.61 billion |
| Growth Rate | 5.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Magnetic Flowmeter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Magnetic Flowmeter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Magnetic Flowmeter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Magnetic Flowmeter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Magnetic Flowmeter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Magnetic Flowmeter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
