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Global Magnetic Flow Meter Market to be Driven by Increase in Product Demand and Technological Advancement During the Forecast Period 2021-2026

Expert Market Research’s new report titled ‘Global Magnetic Flow Meter Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global Magnetic Flow Meter Market, assessing the market on the basis of its segments like component, product, application and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026):

• Forecast CAGR (2021-2026): 5.5%

The growing need for mass, volume, linear and non-linear flow measurement in the oil and gas industry is likely to drive the global magnetic flowmeter market forward. Demand can also be driven by cost effectiveness and convenience of installation. Due to its advanced capabilities and criteria, the margin of the product is considerable, making it the most cost-effective type of flowmeter in the market. Magnetic meters are another name for magnetic flowmeters.

Industry definition and major segments

A magnetic flowmeter is a type of flowmeter used to determine the volume of bulk fluid movement. It is suitable for wastewater applications as well as any dirty conductive or water-based liquids and has no moving parts.

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The industry can be broadly classified based on its components into:

• Magnetic coils
• Transmitters
• Detection electrodes
• Non-magnetic flow tubes

The industry can be divided based on its product as follows:

• In-line magnetic flowmeters
• Low flow magnetic flowmeters
• Magnetic insertion flowmeters

The industry can be divided according to its application as follows:

• Water and waste water
• Chemicals and Petrochemicals
• Energy production
• Metals and Mining
• Oil and gas
• Food and drinks
• Pulp and paper
• Pharmaceutical products

Based on Region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market trends

Magnetic flow meters are widely used in a variety of applications including paper and pulp, chemical, electrical, waste water treatment, metallurgy and mining. The need for magnetic flowmeters continues to grow as market players in today’s magnetic flowmeter industry place more emphasis on volumetric flow and minimization of conductivity. During the projected period, research and development is expected to play an important role in the growth of the global magnetic flowmeter market. Low-rate, in-line flowmeters and insertion-type installations are among the most common. While magnetic flowmeters are generally used to measure volumetric flow, they are increasingly being used to assess mass flow which is expected to drive the growth of the global magnetic flowmeter market throughout the forecast period. One of the major factors expected to contribute to the overall growth of the magnetic flowmeter market over the assessment period is the increasing demand from the mining industry to monitor mud flow. Magnetic flow meter applications continue to expand across many industries as an increasing number of companies competing in the current magnetic flow meter market environment continue to invest resources in research.

Main market players

Major market players include ABB Ltd, Azbil Corporation, Endress+Hauser AG, Emerson Electric Corporation, General Electric (NYSE: GE), Honeywell International Inc., KROHNE Messtechnik GmbH, OMEGA Engineering, Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.