Global Electromagnetic Flow Meter Market is expected to reach US$ 14.5Bn by 2026 from US$ 7.5Bn in 2017 at CAGR of 8.59%.
Electromagnetic flow meter is theoretically an electromagnetic flow meter or a mag meter. This device used to measure mass, linear, volume, nonlinear flow rate of a liquid or a gas. The magnetic flow meter can measure water-based or conductive volumetric flow. They are perfect for applications which need low maintenance and low-pressure drop. They are appropriate for wastewater applications or unclean conductive liquids.
One of the key driving factors for the electromagnetic flow meter market is the removal of the wiring constraint. The wireless transmission system decreases the difficulty of monitoring rotating equipment, which would support the magnetic flow meter industry. Their market share is accounted to be about 60% of the overall flow meter market share in 2017. Additionally, there are also power challenges to be solved. The wide range of both liquid types and pipe diameter types create the need for a dynamic power control capability, effectively having one design that fits all sensor type necessity with minimum power dissipation.
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Water and wastewater are leading the market. With water becoming a scarce resource, the need for investment in the technology that can sustain the water resource for future usage is increasing. Water scarcity is already affecting every continent, with many countries facing challenges to deliver water for the population. With 700 Mn people in 43 countries suffering from water scarcity presently, and with a massive amount of wastewater still generated, are factors calling for sustainable water supply across numerous industries.
Europe remains the largest market. Moreover due to increasing requirements in wastewater treatment plants, Asia Pacific may gain considerable share over the foreseeable future. The Middle East & Africa region may also witness high growth owing to a substantial rise in the oil & gas industry. Shale gas & oil expansion in North American region is also projected to impel demand over the forecast period.
Key players operating in global electromagnetic flow meter market, Emerson Electric Company, Honeywell International Inc., Endress+Hauser AG, Azbil Corporation, Omega Engineering Inc., Siemens AG, ABB Ltd., Yokogawa Electric Corporation, Krohne Messtechnik GmbH and Hitachi Ltd.
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Scope of Global Electromagnetic Flow Meter Market
Global Electromagnetic Flow Meter Market, by Component
Global Electromagnetic Flow Meter Market, by Product
Global Electromagnetic Flow Meter Market, by Application
Water & Wastewater
Oil & Gas
Pulp & Paper
Global Electromagnetic Flow Meter Market, Region
Middle East and Africa
Key players operating in Global Electromagnetic Flow Meter Market
Emerson Electric Company
Honeywell International Inc.
Omega Engineering Inc.
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Yokogawa Electric Corporation
Krohne Messtechnik GmbH