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:
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Global sales of magnetic flow meters will surge at 6.6% CAGR during the projection period.
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By product type, demand for in-line magnetic flow meters is set to increase at 6.3% CAGR.
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Based on application, water & wastewater treatment segment will thrive at 6% CAGR through 2032.
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The United States magnetic flow meter market will reach a valuation of US$ 788.8 million by 2032.
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China magnetic flow meter industry is forecast to exhibit a CAGR of 8.1% through 2032.
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Demand for magnetic flow meters in Korea will surge at 7.1% CAGR through 2032.
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The magnetic flow meter market size in Japan will reach around US$ 776.0 million by 2032.
“Growing adoption of magnetic flow meters across various industries due to their attractive features such as cost-effectiveness and higher accuracy and reliability will boost the market.” Says a Future Market Insights analyst.
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Who is Winning?
Honeywell International Inc., ABB Ltd, Siemens AG, Endress+Hauser AG, Emerson Electric Corporation, General Electric, Azbil Corporation, OMEGA Engineering, Inc., KROHNE Messtechnik GmbH, and Yokogawa Electric Corporation are key manufacturers of magnetic flow meters profiled in the report.
These leading players are aiming at launching new products, forming alliances and collaborations, and adopting merger & acquisition strategy to solidify their positions. For instance,
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In December 2019, Emerson Electric Co launched Rosemount 8782 MS Slurry Sensor. It is intended for high noise and slurry applications in mining as well as the pulp and paper industry.
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In May 2022, Aspen Tech completed its transaction with Emerson Electric Co. This includes the addition of Emerson’s OSI and GSS (Geological Simulation Software) businesses to AspenTech.
Global Magnetic Flow Meter Market Segmentation
By Product Type:
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In-line magnetic flowmeter
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Insertion Magnetic Flowmeter
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Low magnetic Flowmeter
By Components:
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Magnetic Coil
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Transmitter
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Sensing Electrode
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Non Magnetic Flow Tube
By Technology:
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Hart
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Profibus
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Modbus
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Fieldbus
By Application:
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Water and wastewater treatment
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Chemicals
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Oil And Gas
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Turf and landscape
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Pharmaceutical
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Agriculture
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Metal & Mining
By Region:
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North America
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Latin America
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Europe
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Asia Pacific
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Middle East and Africa
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