Magnetic Flow Meter Market Outlook - 2027
Magnetic flow measurement is vital to many different industries such as water and wastewater treatment. Electromagnetic flow meter, commonly known as magmeters, is one of the flow meters indispensably used to determine how much fluid is passing through to determine production as well as other factors. Importantly, electromagnetic flow meters work on Faraday’s law of Induction and consume electrodes to measure process flow. They are versatile, accurate, and efficient flow measuring equipment. In addition, they don’t have any effect remain unaffected by viscosity, temperature, and pressure of the fluid (liquid) flowing inside the pipe or tube. They are at the forefront of miniaturization of both electronics and sensors. The need to achieve improved performance and high geometrical stability with electromagnetic flow meter diagnostics results in this change in the size of flow meters. With increase in adoption of compact electronic circuits in various industrial applications, the emerging trend of miniaturization is expected to have a significant influence on the driving factors of the electromagnetic flow meter market in the coming years.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the magnetic flow meter market, owing to the prolonged lockdown in major countries. This has hampered the growth of the magnetic flow meter market significantly from the last few months, and is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth during the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which are badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The magnetic flow meter market has applications in wastewater treatment and agriculture industries while the product’s high demand in such industries acts as a driving factor of the market growth.
Technological advances in processes of water and wastewater treatment plants
The scope of applications of magnetic flow meters is vast, including water and wastewater treatment, chemical, and agriculture industries, owing to their design and operational features. Among the key applications, water and wastewater treatment is expected to continue to hold a leading share in the magnetic flow meter market in the near term. Technological advances in processes of water and wastewater treatment plants also increase the adoption of electromagnetic flow meters. Therefore, electromagnetic flow meters are now an integral part of process control systems in wastewater treatment plants. In addition, chemicals, pharma, pulp & paper, and food & beverages are some other industrial areas where electromagnetic flow meters find use for industrial control processes. This is attributed to the fact that most of these industrial sectors need to measure the flow of liquids in the presence of high levels of solids. This is not easily attained by most flow methodologies.
Furthermore, the undercurrents to measure conductive liquids are solid in the electromagnetic flow meter market. However, there is a vast scope to measure hydrocarbons, distilled water, and non-aqueous solutions for industrial applications. Besides, the electromagnetic flow meters available are mostly unsuitable to measure compressed liquids, which leave an immense white space for the market players to capitalize.
Innovation in energy sources for electromagnetic flow meters
Innovation in energy sources for electromagnetic flow meters is another key growth factor for players in the electromagnetic flow meter market. Currently, electromagnetic flow meters are wired or powered conventionally. With the rise of renewable energy sources and the emergence of efficient batteries, battery-operated electromagnetic flow meters are increasingly gaining adoption for most industrial applications. Variations in terms of harnessing the capability and results of electromagnetic flow meters further provide ample opportunities for participants in the electromagnetic flow meter market. These variations are attributed to the type of fluid being measured, corrosive or non-corrosive nature of liquids, and whether the liquid being measured is clean or contaminated.
Key benefits of the report:
- This study presents the analytical depiction of the magnetic flow meter market along with the current trends and future estimations to determine the future of the market.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the magnetic flow meter market share.
- The current market is quantitatively analyzed to highlight the magnetic flow meter market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Magnetic Flow Meter Market Report Highlights
By End User
Key Market Players
Toshiba Corporation, General Electric Co., Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corp., ABB Ltd., KROHNE Messtechnik GmbH, Siemens AG, McCrometer, Inc., Badger Meter, Inc., Omega Engineering Inc., Endress+Hauser AG