The global magnetic flow meter market value is set to increase from US$ 2.6 billion in 2022 to US$ 5 billion by 2032. Overall magnetic flow meter sales in the global market will rise at 6.6% CAGR through 2032.
Water and wastewater treatment will remain the top-revenue generation application for the market. This is due to rising adoption of magnetic flow meters across water and wastewater treatment plants. The target segment will exhibit a CAGR of 6.0% through 2032.
Devices that measure fluid flow are known as magnetic flow meters. These devices have gained wider popularity across various industries. They allow end users to measure conductive fluid flow rates.
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Rising usage of magnetic flow meters in a variety of industries, including pulp & paper, chemical, food & beverage, and water & wastewater will boost the global market.
Growing need for accurate & dependable flow measurement devices will trigger magmeter sales. Thanks to their high levels of measurement accuracy and dependability, magnetic flow meters are becoming ideal for process control applications across a variety of industries.
Rising demand for freshwater coupled with increasing number of water & wastewater treatment plants will stimulate market expansion.
Implementation of stringent regulations is another key factor that will fuel magnetic flow meter demand. Governments across the world are introducing new regulations and standards to lower pollution levels.
As a result, accurate measurement and monitoring of fluid flow are necessary for a variety of applications, such as the handling of industrial waste.
Key Takeaways from the Magnetic Flow Meter Market Report:
- Global sales of magnetic flow meters will surge at 6.6% CAGR during the projection period.
- By product type, demand for in-line magnetic flow meters is set to increase at 6.3% CAGR.
- Based on application, water & wastewater treatment segment will thrive at 6% CAGR through 2032.
- The United States magnetic flow meter market will reach a valuation of US$ 788.8 million by 2032.
- China magnetic flow meter industry is forecast to exhibit a CAGR of 8.1% through 2032.
- Demand for magnetic flow meters in Korea will surge at 7.1% CAGR through 2032.
- The magnetic flow meter market size in Japan will reach around US$ 776.0 million by 2032.
Competitive Landscape:
Leading manufacturers of magnetic flow meters include Siemens AG, Azbil Corporation, General Electric, Endress+Hauser AG, ABB Ltd, OMEGA Engineering, Inc., Emerson Electric Corporation, KROHNE Messtechnik GmbH, Honeywell International Inc., and Yokogawa Electric Corporation.
These players are focused on developing new products that can perform well even in extreme environments. They are also utilizing strategies such as partnerships, collaborations, mergers, and acquisitions to expand their presence.
Recent developments
- In March 2021, Krohne Messtechnik GmbH introduced the AF-E400 Ultra-Compact Magnetic Flowmeter. It is specifically designed for utilities industrial automation. The new flowmeter is made to fit in places where there is limited room for installation. This includes cooling lines for welding equipment, bending machines, robots, and chemical dosing skids.
- In January 2021, Badger Meter Inc announced the acquisition of Analytical Technology, Inc. The acquisition will help the company to expand its offering in the wastewater treatment industry.
- In August 2020, McCrometer Inc launched telemetry services for their existing magnetic flowmeters. Magnetic flowmeters can send flow rate and totalized data to the user via telemetry services, eliminating the need for the user to physically visit the flowmeter to record data and manage water usage.
Leading Key Players:
- ABB Ltd
- Azbil Corporation
- Endress+Hauser AG
- Emerson Electric Corporation
- General Electric
- Honeywell International Inc.
- KROHNE Messtechnik GmbH
- OMEGA Engineering, Inc.
- Yokogawa Electric Corporation
- Siemens AG
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Global Magnetic Flow Meter Market Segmentation
By Product Type:
- In-line magnetic flowmeter
- Insertion Magnetic Flowmeter
- Low magnetic Flowmeter
By Components:
- Magnetic Coil
- Transmitter
- Sensing Electrode
- Non Magnetic Flow Tube
By Technology:
- Hart
- Profibus
- Modbus
- Fieldbus
By Application:
- Water and wastewater treatment
- Chemicals
- Oil And Gas
- Turf and landscape
- Pharmaceutical
- Agriculture
- Metal & Mining
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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