Market Size of Electromagnetic Flowmeter Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 5.10 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Electromagnetic Flowmeter Market Analysis
The Electromagnetic Flowmeter Market is expected to register a CAGR of 5.1% during the forecast period. The growing need for high accuracy, reliable measurement, and monitoring of industrial fluids for optimum utilization are major factors driving the growth of the market studied. With the increased mining activities, the flow measurement in the mining sectors is becoming challenging over the recent past. Slurries, chunks of rocks, and gravel result in noisy flow signals and are most abrasive. Corrosive fluids require chemical compatibility of the wetted parts within the flowmeter sensor.
- Electromagnetic flowmeters are being widely adopted to measure liquids that are conductive in nature. Liquids with a minimum conductivity of 10 μS/cm are easily measured using an electromagnetic flowmeter. As the electromagnetic flowmeter does not have any moving parts, it requires less maintenance than other flowmeters. It can generally be used for any line size, with good accuracy and no pressure loss. Primarily, industries are investing in flowmeters, where accuracy is of utmost importance, i.e., in the range of 0.2% to 0.5%.
- Sewage water treatment, water distribution, effluent measurement, slurry, and other dense liquid measurements in various public and private sectors are some of the highly adopted applications of electromagnetic flowmeters. Furthermore, introducing battery-powered electromagnetic flowmeters eliminates the power supply issues, expanding its scope among small industries.
- The growing need for wastewater treatment is also a significant factor driving the growth of the market studied. Many waste management organizations are investing in electromagnetic flowmeters as their plants are also expanding.
- In June 2021, KROHNE Inc. announced the TIDALFLUX 2300 F, an electromagnetic flowmeter that provides reliable flow measurement in pipes between 10 and 100% complete. It features a non-contact sensor that remains unaffected by oils and fats floating on the surface. TIDALFLUX 2300 F has high chemical and abrasion resistance and is available in diameter to fit pipes up to 64 inches. TIDALFLUX 2300 F is best-suitable for municipal or industrial wastewater transport applications.
- The outbreak of COVID-19 triggered the electromagnetic flowmeters market to re-evaluate its conventional production processes, fundamentally driving the digital transformation and Industry 4.0 practices across the production lines. The manufacturers are also forced to devise and deploy multiple new and agile approaches to monitor product and quality control. The COVID-19 pandemic created economic turmoil globally for small, medium, and large-scale industries. The government's lockdown was inflicted to minimize the virus' spread, resulting in sectors taking a hit.
Electromagnetic Flowmeter Industry Segmentation
Electromagnetic flowmeters measure the flow of fluid with the help of the voltage induced across the liquid by its flow through a magnetic field.
The Electromagnetic Flowmeter Market is segmented by Product (In-line Magnetic Flowmeters, Low Flow Magnetic Flowmeters, Insertion Magnetic Flowmeters), by Application (Water and Wastewater, Chemicals and Petrochemicals, Power Generation, Metals and Mining, Oil and Gas, Food and Beverage), and by Geography (North America, Europe, Asia Pacific, Latin America, MEA). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Product | |
In-line Magnetic Flowmeters | |
Low Flow Magnetic Flowmeters | |
Insertion Magnetic Flowmeters |
By Application | |
Water and Wastewater | |
Chemicals and Petrochemicals | |
Power Generation | |
Metals and Mining | |
Oil and Gas | |
Food and Beverages | |
Other Applications (Pulp and Paper, Pharmaceuticals) |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East & Africa |
Electromagnetic Flowmeter Market Size Summary
The electromagnetic flowmeter market is poised for steady growth, driven by the increasing demand for precise and reliable measurement of industrial fluids. This demand is particularly evident in sectors such as mining, where the measurement of slurries and abrasive materials presents unique challenges. Electromagnetic flowmeters are favored for their ability to measure conductive liquids with high accuracy and minimal maintenance, making them ideal for applications in sewage treatment, water distribution, and effluent measurement. The market is also benefiting from innovations such as battery-powered flowmeters, which address power supply issues in smaller industries. The ongoing expansion of wastewater treatment facilities further propels the adoption of these flowmeters, as organizations seek to enhance their measurement capabilities.
The competitive landscape of the global electromagnetic flowmeter market is characterized by the presence of major players like ABB Ltd, Azbil Corporation, and Endress+Hauser AG, who are actively expanding their market share through strategic partnerships and product innovations. The market is witnessing a trend towards digital transformation and Industry 4.0 practices, spurred by the COVID-19 pandemic, which has prompted manufacturers to adopt more agile approaches to quality control and production processes. In regions like Asia-Pacific, the dominance of the water and wastewater management industry, coupled with significant infrastructure investments, is driving market growth. Companies are also focusing on developing advanced flowmeter technologies, such as the AquaMaster4 Mobile Comms flowmeter, which offers enhanced connectivity and energy efficiency for intelligent water management.
Electromagnetic Flowmeter Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Market Overview
-
1.2 Industry Attractiveness - Porter's Five Forces Analysis
-
1.2.1 Bargaining Power of Suppliers
-
1.2.2 Bargaining Power of Consumers
-
1.2.3 Threat of New Entrants
-
1.2.4 Threat of Substitute Products
-
1.2.5 Intensity of Competitive Rivalry
-
-
1.3 Impact of COVID-19 on the Electromagnetic Flowmeter Market
-
-
2. MARKET SEGMENTATION
-
2.1 By Product
-
2.1.1 In-line Magnetic Flowmeters
-
2.1.2 Low Flow Magnetic Flowmeters
-
2.1.3 Insertion Magnetic Flowmeters
-
-
2.2 By Application
-
2.2.1 Water and Wastewater
-
2.2.2 Chemicals and Petrochemicals
-
2.2.3 Power Generation
-
2.2.4 Metals and Mining
-
2.2.5 Oil and Gas
-
2.2.6 Food and Beverages
-
2.2.7 Other Applications (Pulp and Paper, Pharmaceuticals)
-
-
2.3 By Geography
-
2.3.1 North America
-
2.3.2 Europe
-
2.3.3 Asia-Pacific
-
2.3.4 Latin America
-
2.3.5 Middle East & Africa
-
-
Electromagnetic Flowmeter Market Size FAQs
What is the current Electromagnetic Flowmeter Market size?
The Electromagnetic Flowmeter Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Electromagnetic Flowmeter Market?
ABB Ltd, Azbil Corporation, Endress+Hausar AG, Emerson Electric Corporation and Toshiba Corporation are the major companies operating in the Electromagnetic Flowmeter Market.