Global Magnetic Flowmeter Market

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 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.

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FAQs

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 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. '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'

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.

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.

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.

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Global Magnetic Flowmeter Market

Report ID: SQMIG35A2179

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