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Magnetic Flowmeter Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2024-2030
Magnetic Flowmeter Market Overview
The global Magnetic Flowmeter Market is poised to reach $3.5 Billion by 2030, advancing at CAGR 4.4% during the forecast period 2024-2030. Magnetic Flowmeter is used for flow measurement of liquids or liquid slurries and works on Faraday's Law of Electromagnetic Induction to determine the velocity of liquids in a pipe. The demand for electromagnetic Flowmeter increased in recent years across various industries such as mining, oil & gas and so on to monitor specific pipeline to ensure optimal functionality of Magnetohydrodynamics, and act as a major driver for the growth of the market during the forecast period. Moreover, pharmaceutical and food & beverage industries need high sanitation, thus various sensors are incorporated with magnetic flowmeter to obtain the desired outcome, boosting the demand for Magnetic Flowmeters.
There is a growing demand for enhanced accuracy and reliability in fluid measurement systems, driving advancements in magnetic flowmeter technology. Manufacturers are focusing on integrating smart features into magnetic flowmeters, such as remote monitoring and diagnostic capabilities, to improve operational efficiency and maintenance processes. With increasing environmental concerns, there's a trend towards developing magnetic flowmeters with lower energy consumption and environmental impact. Moreover, industries are adopting magnetic flowmeters for a wider range of applications beyond traditional uses, including wastewater treatment, food and beverage processing, and pharmaceutical manufacturing.
Magnetic Flow meter Market Report Coverage
The report based on: “Magnetic Flow meter Market Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Magnetic Flow meter Market.
By Product Type: In-line Magnetic Flowmeter, Insertion Magnetic Flowmeter, Low Magnetic Flowmeter.
By Components: Magnetic coil, Transmitter, Sensing Electrode, Non-magnetic flow tube, others.
By Technology: Hart, Profibus, Modbus, Fieldbus and Others.
By End Use Industry: Water & wastewater treatment, Chemicals, Oil & Gas, Food & Beverage, Pharmaceutical, Agriculture, Metal & Mining, Others
By Geography: North America (U.S, Canada and Mexico); Europe (U.K., Germany, Italy, France & Rest of Europe); APAC (China, Japan, South Korea, India & Rest of APAC); South America (Brazil, Argentina & Rest of South America); RoW (Middle East & Africa)
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Key Takeaways
• The top companies in the Magnetic Flowmeter Market are Emerson Electric Co, Endress + Hausan AG, ABB Ltd, Krohne Messtechnik GmbH, Badge Meter Inc, General Electric Co, McCrometer Inc, Honeywell International Inc, Toshiba Corporation and Siemens AG.
• Water & wastewater treatment is analyzed to hold highest share at CAGR of 6.8% during the forecast period 2024-2030, owing to wide range of applications. Population growth, economic development and urbanization are the factors that generate more volume of wastewater.
• APAC dominated the Magnetic Flowmeter in 2023 with a share in excess of 36%, owing to growing water management plants. Increasing population and water scarcity issues are the primary factors that lead to the rise of growing water management plants, thereby boosting the demand of magnetic flowmeters
Magnetic Flow meter Market Segment Analysis - by Product Type
By Product Type, the In Line Magnetic Flowmeter Market dominated the segment with a share of 46.2% in 2023. Many countries are facing water scarcity issues, thus pushing the countries to invest in water sustainable projects. This led the manufacturing companies to make a new monitoring source to manage water management, thereby boosting the demand for magnetic flowmeter over the forecast period.
Magnetic Flow meter Market Segment Analysis - By Application
By Application, the magnetic flowmeter market is segmented into water & wastewater treatment, chemicals, oil & gas, food & beverage, pharmaceutical, metal & mining and others. Water & wastewater treatment in magnetic flowmeter segment is growing at a CAGR of 6.8% during the forecast period 2024-2030. In Wastewater treatment plants, Magnetic Flowmeters are used to measure treated and untreated sewage, chemicals and raw water. Population growth, economic development and urbanization are the factors that generate more volume of wastewater. As the demand for wastewater treatment increases due to environmental regulations, many countries invest a lump sum amount to set up new wastewater treatment plants.
Magnetic Flowmeter Market Segment Analysis - by Geography
APAC dominated the magnetic flowmeter market by a market share of more than 34% in 2023, owing to increasing water and wastewater management plants. Increasing population and water scarcity issues are the primary factors that lead to the rise of growing water management plants, thereby boosting the demand of magnetic flowmeters. According to Water Environment Partnership in Asia, improvement in water environment can only be done by providing necessary information and knowledge for the enactment of water environment governance. Additionally, the region's focus on sustainability is leading to a growing preference for environmentally friendly flowmeter solutions. With advancements in technology, there is a discernible shift towards smart and connected magnetic flowmeter applications, aligning with the broader trend of Industry 4.0. These developments reflect a dynamic landscape in which the Asia Pacific magnetic flowmeter market is evolving to meet the evolving needs of diverse industries.
Magnetic Flow meter Market Drivers
Growing adoption of Magnetic Flowmeter for mining and mineral processing applications
The expanding use of Magnetic Flowmeters in mining and mineral processing stems from their non-intrusive nature and precise measurement capabilities, meeting the sector's demand for accurate flow monitoring without interrupting operations. These flowmeters offer a cost-effective solution for various conductive liquids encountered in mineral processing, enhancing operational efficiency and reducing downtime. Their ability to measure process water and slurry flow in heavy-duty mining environments underscores their suitability for diverse applications in the industry, driving their increasing adoption.
Growing adoption of Magnetic Flowmeter for irrigation applications
The magnetic flowmeter industry is experiencing a surge in the adoption of its technology for irrigation applications. One significant driver behind this trend is the increasing need for precise water management in agricultural practices. Magnetic flowmeters offer accurate and reliable measurements, allowing farmers to optimize water usage, improve crop yield, and conserve resources effectively. Additionally, the ability of magnetic flowmeters to operate efficiently in challenging environments makes them well-suited for irrigation systems. As agriculture continues to prioritize sustainability and efficiency, the demand for magnetic flowmeters in irrigation is expected to further escalate.
Magnetic Flow meter Market Challenges
Incapability to measure non-conductive fluids
Though Magnetic Flowmeter has a lot of diverse benefits, its inability to measure non-conductive fluids is the major restraining factor for the market's growth. It can only measure the liquid flow rate of conductive medium and cannot measure the flow rate of non-conductive medium such as hydrocarbons for heat treatment. Moreover, installation and commissioning of magnetic flowmeter is much more complex than other flow meters. Hence these factors decelerate the market growth during the forecast period.
Magnetic Flow meter Market Landscape
Partnership, Acquisitions, Collaboration, technology launches and R&D activities are key strategies adopted by players in the Magnetic Flowmeter Market. The top companies in the Magnetic Flowmeter Market are Emerson Electric Co, Endress + Hausan AG, ABB Ltd, Krohne Messtechnik GmbH, Badge Meter Inc, Yokogawa Electric Corporation, McCrometer Inc, Honeywell International Inc, Toshiba Corporation and Siemens AG.
Acquisitions/Technology Launches
• In March 2023, ATO Flow Meter, a prominent China-based manufacturer, expands its product line with the introduction of a Magnetic Flowmeter. These additions cater to diverse industry needs, providing reliable measurement solutions for liquids, gases, and steam environments worldwide, reflecting the company's commitment to innovation and customer-centric offerings.
• In October 2022, Yokogawa Electric Corporation introduces the OpreX Magnetic Flowmeter CA Series, featuring non-wet electrode construction and enhanced functionalities, available in major global markets with plans for expansion into Europe and China pending certification.
• In June 2022, Anderson-Negele completed acquisition of GEA Diessel's MBC Division, enhancing its hygienic instrumentation portfolio with high-precision magnetic flow meters for food, beverage, pharmaceutical, and biotechnology industries.
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1. Magnetic Flowmeter Market Overview
1.1 Definitions and Scope
2. Magnetic Flowmeter Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Application
2.3 Key trends segmented by Geography
3. Magnetic Flowmeter Market – Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Magnetic Flowmeter Market – Industry Market Entry Scenario Premium Premium
4.1 Regulatory Scenario
4.2 Ease of Doing Business Index
4.3 Case Studies
4.4 Customer Analysis
5. Magnetic Flowmeter Market – Startup Company Scenario Premium
5.1 Venture Capital and Funding Scenario
5.2 Startup Company Analysis
6. Magnetic Flowmeter Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Magnetic Flowmeter Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
8. Magnetic Flowmeter Market – By End Use Industry (Market Size -$Million/Billion)
8.1 Water and Wastewater Treatment
8.2 Chemicals
8.3 Oil and Gas
8.4 Food and beverage
8.5 Pharmaceutical
8.6 Agriculture
8.7 Metal and Mining
8.8 Others
9. Magnetic Flowmeter Market – By Technology (Market Size -$Million/Billion)
9.1 HART
9.2 Modbus
9.3 Profinet
9.4 Fieldbus
9.5 Others
10. Magnetic Flowmeter Market – By Product (Market Size -$Million/Billion)
10.1 In Line Magnetic Flowmeter
10.2 Insertion Magnetic Flowmeter
10.3 Low Magnetic Flowmeter
11. Magnetic Flowmeter Market – By Components (Market Size -$Million/Billion)
11.1 Magnetic Coil
11.2 Transmitter
11.3 Sensing Electrode
11.4 Non-Magnetic Flow Tube
11.5 Others
12. Magnetic Flowmeter Market - By Geography (Market Size -$Million/Billion)
12.1 North America
12.1.1 U.S
12.1.2 Canada
12.1.3 Mexico
12.2 Europe
12.2.1 Germany
12.2.2 France
12.2.3 UK
12.2.4 Italy
12.2.5 Spain
12.2.6 Russia
12.2.7 Netherlands
12.2.8 Others
12.3 APAC
12.3.1 China
12.3.2 Japan
12.3.3 South Korea
12.3.4 India
12.3.5 Australia
12.3.6 Indonesia
12.3.7 Malaysia
12.3.8 Others
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Chile
12.4.4 Colombia
12.4.5 Others
12.5 RoW
12.5.1 Middle East
12.5.2 Africa
13. Magnetic Flowmeter Market - Market Entropy
13.1 New product launches
13.2 M&A's, collaborations, JVs and partnerships
14. Magnetic Flowmeter Market – Industry Competitive Landscape Premium
14.1 Market Share – Global
14.2 Market Share by Region
14.3 Market Share by End Use Industry
15. Magnetic Flowmeter Market – Key Company List by Country Premium Premium
16. Magnetic Flowmeter Market - Company Analysis
16.1. Emerson Electric Co
16.2. Endress + Hausan AG
16.3. ABB Ltd
16.4. Krohne Messtechnik GmbH
16.5. Badge Meter Inc
16.6. Yokogawa Electric Corporation
16.7. McCrometer Inc
16.8. Honeywell International Inc,
16.9. Toshiba Corporation
16.10. Siemens AG
LIST OF TABLES
1.Global Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)1.1 Magnetic Coil Market 2023-2030 ($M) - Global Industry Research
1.2 Sensing Electrode Market 2023-2030 ($M) - Global Industry Research
1.3 Transmitter Market 2023-2030 ($M) - Global Industry Research
1.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Global Industry Research
2.Global Market Analysis, By Product Market 2023-2030 ($M)
2.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Global Industry Research
2.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Global Industry Research
2.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Global Industry Research
3.Global Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
3.1 Profibus Market 2023-2030 ($M) - Global Industry Research
3.2 Modbus Market 2023-2030 ($M) - Global Industry Research
3.3 Fieldbus Market 2023-2030 ($M) - Global Industry Research
3.4 Hart Market 2023-2030 ($M) - Global Industry Research
4.Global Magnetic Flowmeter Market, By Component Market 2023-2030 (Volume/Units)
4.1 Magnetic Coil Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Sensing Electrode Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Transmitter Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Non-Magnetic Flow Tube Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Market Analysis, By Product Market 2023-2030 (Volume/Units)
5.1 In-Line Magnetic Flowmeters Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Insertion Magnetic Flowmeters Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Low Flow Magnetic Flowmeters Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Magnetic Flowmeter Market, By Technology Market 2023-2030 (Volume/Units)
6.1 Profibus Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Modbus Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Fieldbus Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Hart Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)
7.1 Magnetic Coil Market 2023-2030 ($M) - Regional Industry Research
7.2 Sensing Electrode Market 2023-2030 ($M) - Regional Industry Research
7.3 Transmitter Market 2023-2030 ($M) - Regional Industry Research
7.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Regional Industry Research
8.North America Market Analysis, By Product Market 2023-2030 ($M)
8.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
8.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
8.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
9.North America Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
9.1 Profibus Market 2023-2030 ($M) - Regional Industry Research
9.2 Modbus Market 2023-2030 ($M) - Regional Industry Research
9.3 Fieldbus Market 2023-2030 ($M) - Regional Industry Research
9.4 Hart Market 2023-2030 ($M) - Regional Industry Research
10.South America Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)
10.1 Magnetic Coil Market 2023-2030 ($M) - Regional Industry Research
10.2 Sensing Electrode Market 2023-2030 ($M) - Regional Industry Research
10.3 Transmitter Market 2023-2030 ($M) - Regional Industry Research
10.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Regional Industry Research
11.South America Market Analysis, By Product Market 2023-2030 ($M)
11.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
11.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
11.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
12.South America Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
12.1 Profibus Market 2023-2030 ($M) - Regional Industry Research
12.2 Modbus Market 2023-2030 ($M) - Regional Industry Research
12.3 Fieldbus Market 2023-2030 ($M) - Regional Industry Research
12.4 Hart Market 2023-2030 ($M) - Regional Industry Research
13.Europe Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)
13.1 Magnetic Coil Market 2023-2030 ($M) - Regional Industry Research
13.2 Sensing Electrode Market 2023-2030 ($M) - Regional Industry Research
13.3 Transmitter Market 2023-2030 ($M) - Regional Industry Research
13.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Regional Industry Research
14.Europe Market Analysis, By Product Market 2023-2030 ($M)
14.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
14.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
14.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
15.Europe Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
15.1 Profibus Market 2023-2030 ($M) - Regional Industry Research
15.2 Modbus Market 2023-2030 ($M) - Regional Industry Research
15.3 Fieldbus Market 2023-2030 ($M) - Regional Industry Research
15.4 Hart Market 2023-2030 ($M) - Regional Industry Research
16.APAC Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)
16.1 Magnetic Coil Market 2023-2030 ($M) - Regional Industry Research
16.2 Sensing Electrode Market 2023-2030 ($M) - Regional Industry Research
16.3 Transmitter Market 2023-2030 ($M) - Regional Industry Research
16.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Regional Industry Research
17.APAC Market Analysis, By Product Market 2023-2030 ($M)
17.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
17.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
17.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
18.APAC Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
18.1 Profibus Market 2023-2030 ($M) - Regional Industry Research
18.2 Modbus Market 2023-2030 ($M) - Regional Industry Research
18.3 Fieldbus Market 2023-2030 ($M) - Regional Industry Research
18.4 Hart Market 2023-2030 ($M) - Regional Industry Research
19.MENA Magnetic Flowmeter Market, By Component Market 2023-2030 ($M)
19.1 Magnetic Coil Market 2023-2030 ($M) - Regional Industry Research
19.2 Sensing Electrode Market 2023-2030 ($M) - Regional Industry Research
19.3 Transmitter Market 2023-2030 ($M) - Regional Industry Research
19.4 Non-Magnetic Flow Tube Market 2023-2030 ($M) - Regional Industry Research
20.MENA Market Analysis, By Product Market 2023-2030 ($M)
20.1 In-Line Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
20.2 Insertion Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
20.3 Low Flow Magnetic Flowmeters Market 2023-2030 ($M) - Regional Industry Research
21.MENA Magnetic Flowmeter Market, By Technology Market 2023-2030 ($M)
21.1 Profibus Market 2023-2030 ($M) - Regional Industry Research
21.2 Modbus Market 2023-2030 ($M) - Regional Industry Research
21.3 Fieldbus Market 2023-2030 ($M) - Regional Industry Research
21.4 Hart Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Magnetic Flowmeter Market Revenue, 2023-2030 ($M)2.Canada Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
3.Mexico Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
4.Brazil Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
5.Argentina Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
6.Peru Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
7.Colombia Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
8.Chile Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
9.Rest of South America Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
10.UK Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
11.Germany Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
12.France Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
13.Italy Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
14.Spain Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
15.Rest of Europe Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
16.China Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
17.India Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
18.Japan Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
19.South Korea Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
20.South Africa Magnetic Flowmeter Market Revenue, 2023-2030 ($M)
21.North America Magnetic Flowmeter By Application
22.South America Magnetic Flowmeter By Application
23.Europe Magnetic Flowmeter By Application
24.APAC Magnetic Flowmeter By Application
25.MENA Magnetic Flowmeter By Application
26.Siemens Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Abb Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Azbil Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Endress+Hausar Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Emerson Electric Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.General Electric, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Honeywell International Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Krohne Messtechnik Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Omega Engineering Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Yokogawa Electric Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)