Global Electromagnetic Flowmeters Market - By Component (Magnetic Coils, Transmitters, Sensing Electrodes, Non-Magnetic Flow Tubes), Product (In Line Magnetic Flowmeters, Low Flow Magnetic Flowmeters, Insertion Magnetic Flowmeters), Technology, Applicatoin, Geography, Trends, Forecast - (2017 - 2022)
Global Electromagnetic Flowmeters market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 – 2022..
The market is increasing at a decent pace, and isn\'t going to saturate throughout the forecast period. Magnetic flowmeter is theoretically an electromagnetic flow meter or a mag meter. It is a device used to measure mass, linear, volume, nonlinear flow rate of a liquid or a gas. It can measure water-based or conductive volumetric flow. They are perfect for applications which require low maintenance and low pressure drop. They are apt for wastewater applications or unclean conductive liquids. It is the most commonly used flow meter after differential pressure and positive displacement flow meters. Device intelligence has aided magnetic flow meters to go beyond their general function to be vital tools for process and business development. The magnetic flowmeters are comparatively cost-efficient and easy to install. They don\'t have any moving parts, due to which they are easy to retain and offer decent accuracy for most applications. Currently, Water & Wastewater holds the maximum market size and is expected to continue its dominance.
While Pulp & Paper application is anticipated for fastest growth among other applications, it is followed by Water & Wastewater, Chemicals, and Food & Beverages Industries. The new improvement which aided this constant growth of the market is the introduction of the two-wire magnetic flowmeter. One of the key driving factors for the market is the removal of the wiring constraint. The wireless transmission system decreases the difficulty of monitoring rotating equipment, which would uphold the magnetic flowmeter industry. Their market share is accounted to be around 60% of the overall flowmeter market share during the forecast period.
Market segmentation is done on the basis of component, product, technology, application and geography. According to component, market is divided into ¢Magnetic coils ¢ Sensing electrodes ¢Transmitters ¢ Non-magnetic flow tubes. According to product, Electromagnetic Flowmeters are of three types i.e, ¢In-line magnetic flowmeters ¢Insertion magnetic flowmeters ¢Low flow magnetic flowmeters. According to technology, four types of technology are in use, they are ¢Profibus ¢ Modbus ¢Fieldbus ¢ Hart. On the basis of application, there are several industries that use flow meters such as ¢Water & Wastewater ¢Oil & Gas ¢ Chemicals & Petrochemicals ¢ Food & Beverages ¢ Power Generation ¢Pulp & Paper ¢ Metals & Mining ¢ Pharmaceuticals.
Due to these applications the demand for mag meters has furthermore increased, partially due to their application in non-intrusive measurement. Geographically, the Electromagnetic Flowmeters market has been segmented into five regions, namely, ¢North America ¢ Europe ¢Asia-Pacific ¢ Middle East and Africa (MEA) ¢ Latin America. Though Europe has the largest market for magnetic flow meters, Pacific Rim has been presenting relatively faster growth and is anticipated to be leading market in terms of uninterrupted expansion and price effectiveness.
The upsurge in capital projects and new process plants is estimated to drive the market in imaginable future. Traditional oil, Purification projects and Gas projects in the Middle East are also expected to increase demand for magnetic flow meters in the coming years. Major players in the Electromagnetic Flowmeters market are Siemens AG, Invensys plc, Emerson Electric Co., Endress+Hauser AG, Honeywell International Inc., Krohne Group, Yokogawa Electric Corp, ABB Ltd., and Hitachi Ltd. among others.
Published By: Mordor Intelligence
Published Date: Q1 2017