Electromagnetic Flowmeters Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Electromagnetic Flowmeters market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Electromagnetic Flowmeters Market report is anticipated to register a CAGR of XX% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Electromagnetic Flowmeters Market are –
- ABB Ltd.
- Azbil Corporation
- Emerson Electric Corporation
- General Electric Co.
- Honeywell international Inc.
- Yokogawa Electric Corporation
- Omega Engineering Inc.
- Siemens AG
- Krohne Messtechnik Gmbh
- Endress+Hausar AG.
Magnetic meters are comparatively accurate in some flow measurement applications. The signals produced by these meters are linear, and thus, can perform with better accuracy. It has been estimated that over 22% of the flowmeters sold around the world are magnetic flowmeters. As magnetic flowmeters have no moving parts, these meters do not obstruct the flow of the liquid flowing through the meters, making them preferable for measuring heavy liquids with suspensions, such as wood pulp and sewage. Moreover, growing awareness and new offerings from the companies are expected to aid the adoption of these systems over the coming years. However, expensive nature of the product and inability to measure non-conductive fluids are restraining the growth of the market. Thus, the demand for electromagnetic flowmeters in the oil & gas industry is limited. Interference from external magnetic fields is also limiting the deployment of these type of meters in certain applications. These factors are challenging the growth of the market.
Growing Demand from the Water & Wastewater Industry
Magnetic flowmeters provide a comparable advantage in the water & wastewater industry for flow measurement applications. The capability of meters handling extremely low flow rates and heavy suspensions in water, such as sewage and mud, have driven the adoption of magnetic flowmeters in this industry. Many countries are investing in water management solutions and establishing new infrastructure wastewater treatment.
With water becoming a scarce resource, the need for investment in the technology that can sustain the water resource for future usage is growing. Water scarcity is already affecting every continent, with many countries facing challenges to provide water for the population. With 700 million 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 various industries.
This has led to manufacturers willing to adopt sustainable water conservation initiatives inside the industries. The prospect for the utilizing different technologies has led to companies and developing economies to set up advanced technologies, to establish a dedicated monitoring source in managing the water management and distribution, which is boosting the market for the electromagnetic flowmeters over the forecast period. Governments in many nations are forming public-private partnerships to solve the problems relating to water scarcity and management. The investments in this industry are expected to exceed USD 58 billion by 2020. With the deployment of new infrastructure and focus on wastewater treatment growing, the demand for magnetic flowmeters is expected to grow in the industry. Thus, the growing demand from water and wastewater industry is expected to drive the growth of electromagnetic flowmeters over the forecast period.
Inline Flowmeters to Account for a Significant Portion of the Market
The growth in inline electromagnetic flowmeters has given the market a new turn. These meters employ sensors inside the pipe with the flanged or threaded connection, have accuracy of around (+/-1%), and provide reliable operation once installed in the systems. These systems can be employed in a variety of applications as they need minimal operating parameters, with respect to the size. Compared to insertion type flowmeters, inline flowmeters work with better accuracy and operating efficiency. Overall, the market for inline magnetic flowmeters is expected to grow at a healthy grow rate during the forecast period.
However, expensive nature of the product and complicated installation procedure challenge the deployment of the systems. Thus, the product finds lower adoption rates in small-sized industries.
North America to Contribute Significantly to the Market Growth over the Forecast Period
Electromagnetic flowmeters occupy a major share in North America, with significant demand from the water and wastewater industry. The market in this region is driven by technological developments and consumers preferring products offering latest technology with reliable performance. Thus, electromagnetic flowmeters are becoming extremely popular among the end users in this region. With many large companies being established players in the market, North America, specifically the United States, remains as one of the prominent regions for the electromagnetic flowmeter market in the world.
The infrastructure in this country is deteriorating over time, costing more than USD 2 billion every year. It has been estimated by EPA that USD 655 billion in water infrastructure is needed in the next 20 years in the United States to meet the needs of the water industry. Thus, the government in this country is expected to fund huge investments in the water industry over next few years to renovate and build new infrastructure. This is expected to boost the growth of electromagnetic flowmeter market in the country. Other industries are also expected to witness growth in their consumption for magnetic flowmeters. In addition to this, the chemical & petrochemical market in the region is also expected to witness growth in the next few years, with support from the government. Thus, investments in this sector can be expected to grow to influence the growth of the market. Overall, the market for electromagnetic flowmeters in North America is expected to witness a healthy growth during the forecast period.
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Scope of the Report:
The report analyses Electromagnetic Flowmeters market, which includes –
- Analysis of the growth of Electromagnetic Flowmeters market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Electromagnetic Flowmeters market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Electromagnetic Flowmeters market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Electromagnetic Flowmeters market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Electromagnetic Flowmeters Market Report:
- Varying dynamics of the Electromagnetic Flowmeters industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Electromagnetic Flowmeters market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Electromagnetic Flowmeters market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Electromagnetic Flowmeters Market Report:
- The report analyses how stringent emission control norms will drive the global Electromagnetic Flowmeters market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Electromagnetic Flowmeters market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Electromagnetic Flowmeters:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Electromagnetic Flowmeters Market Report @ https://www.360marketupdates.com/TOC/12883867#TOC
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