Electromagnetic Flow Meters Market
Electromagnetic Flow Meter Market (Installation: Insertion Flow Meters, In-line Flow Meters, and Low Flow Meters; Connection to Power Source: Wired and Battery-operated; Application: Partially-filled Pipes and Fully-filled Pipes; and End-use Industry: Agriculture, Chemicals, Food & Beverages, Metals & Mining, Paper & Pulp, Pharmaceuticals, Water & Wastewater Treatment, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Electromagnetic Flow Meter Market Evolving with the Trend of Miniaturization
Commonly known as magmeters, electromagnetic flow meters are at the forefront of miniaturization of both, electronics and sensors. The need for achieving improved performance and high geometrical stability with electromagnetic flow meter diagnostics is behind this change in the size of flow meters, altogether. With the increasing adoption of compact electronic circuits in various industrial applications, the emerging trend of miniaturization is expected to have a significant influence on the factors shaping the future of the electromagnetic flow meter market in the coming years.
Prior to this, the expanse of the flow meter industry mostly remained stagnant. It simply involved the trends of expansion and updates & refinements of the existing technology. The imminent adoption of smart technology is another major trend that the electromagnetic flow meter industry is banking on, which will enable improved access, communication, and, in the near-future, improved displays attached to electromagnetic flow meters.
In terms of construction, electromagnetic flow meters are flanged and are available with a choice of liner and electrode material. Featuring this, electromagnetic flow meters are free of obstructions in the pipe, thereby expanding scope of the types of liquids that can be measured for their volumetric flow.
Resultantly, industrial applications of electromagnetic flow meters are extensive. For example, measure of the volumetric flow of juices, milk, and industrial water are some applications where electromagnetic flow meters are used in the food industry. This mostly involves clean and conductive liquids. Besides this, electromagnetic flow meters are used for liquids with suspended particles. This includes sewage, chemicals, wastewater, and slurries, which has expanded the range of industrial applications for electromagnetic flow meters.
With such industrial applications, the growth of electromagnetic flow meter market is predicted to be notable in the coming years. Sensing opportunities in this space, Transparency Market Research (TMR) recently published a study on the growth of the electromagnetic flow meter market, which opines that, the market will reach a valuation of ~US$ 1.4 billion in 2019, and will expand at a notable ~6% CAGR during the forecast period of 2019 and 2027.
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Technological Advances Shows New Ways for Wastewater Treatment Applications
Owing to their design and operational features, the scope of applications of electromagnetic flow meters is also vast, including in the water and wastewater treatment, chemical, and agriculture industries, to name a few. Among the key applications, water and wastewater treatment is expected to continue to hold a leading share in the electromagnetic flow meter market in the near term.
Vis-à-vis revenue, the water and wastewater treatment industry accounts for ~one-fourth revenue share of the electromagnetic flow meter market, and its share will continue to rise at a remarkable CAGR over the forecast period. Technological advances in processes of water and wastewater treatment plants are also surging the adoption of electromagnetic flow meters, so much so, that electromagnetic flow meters are now an integral part of process control systems in wastewater treatment plants.
In addition to this, chemicals, pharma, pulp and paper, and food and beverages are some other industrial areas where electromagnetic flow meters find use for industrial control processes. This is because most of these industrial sectors need to measure the flow of liquids in the presence of high levels of solids. This is not easily attained by most flow methodologies.
Scope in Non-conductive Liquids to Fill Up White Spaces for Electromagnetic Flow Meters
Whilst the undercurrents for the measuring of conductive liquids are solid in the electromagnetic flow meter market, there lies vast scope for the measuring of hydrocarbons, distilled water, and non-aqueous solutions for industrial applications. Besides this, the electromagnetic flow meters available are mostly unsuitable for the measuring of compressed liquids, which leaves an immense white space for market players to capitalize on.
Variations in terms of harnessing the capability and results of electromagnetic flow meters further provides ample opportunities for participants in the electromagnetic flow meter market. These variations are due to the type of fluid being measured, corrosive or non-corrosive nature of liquids, and whether the liquid being measured is clean or contaminated.
To address this, the scope for the introduction of innovative electromagnetic flow meters is enormous. R&D efforts leading to product innovation can translate into notable gains for participants in the electromagnetic flow meter market. In addition, Europe will remain the prime revenue pocket for stakeholders, with ~one-third revenue share of the global market for electromagnetic flow meters. The introduction of innovative products with added capabilities for various biopharmaceutical applications is a key reason behind this. However, Asia Pacific is predicted to register a higher growth rate over the forecast period.
Meanwhile, factors such as the placement of flow meters hamper their performance as well. Proximity to mechanical pumps, valve, and other obstructions, as well as the unstable flow of liquids can impact the performance of electromagnetic flow meters.
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Introduction of Renewable Energy Sources to Set New Trends
Innovation in energy sources for electromagnetic flow meters is another key growth space for players in the electromagnetic flow meter market. Currently, electromagnetic flow meters are wired or powered conventionally. With the rise of renewable energy sources and the emergence of efficient batteries, battery-operated electromagnetic flow meters are increasingly gaining adoption for most industrial applications.
In this quest, the introduction of solar-powered electromagnetic flow meters is what the entire flow meter industry is turning its ear toward. Solar-powered devices that are backed by battery transmitters are deemed to be extensively suitable for remote areas that do not have field electric supply. Solar-powered flow meters are best used for the display and output of flow measurement at these locations.
The scope of innovation of electromagnetic flow meters for wastewater treatment remains compelling. Initiatives undertaken by government agencies, scientific bodies, and industrial organizations for comprehensive and effective tools and policy mechanism lay strong foundation for sustainable programs for wastewater management woes. This widens the expanse for the requirement of electromagnetic flow meters.
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Electromagnetic Flow Meter Market – Competitive Landscape
From a competitive perspective, the electromagnetic flow meter market is mostly consolidated. Top five players, namely, ABB Ltd., Siemens AG, Yogokawa Electric Corp, Toshiba Corporation, and General Electric Co., hold ~60% of the overall electromagnetic flow meter market share.
However, the emergence of new players is changing the competitive dynamics in this market. Innovative products offered by emerging players that supersede predecessor products in terms of technology, abrasion and corrosion resistance, and outstanding electrical insulation provide exceptionally reliable and durable flow measurement solutions.
Design modifications introduced by savvy players consolidate their position in the electromagnetic flow meter market. This enables the easy installation of magnetic flow meters across a wide range of applications and varying pipe sizes, which paves the way for an expanded share of these players. Such moves are likely to spawn new ambits of growth for participants in the electromagnetic flow meter market in the coming future.
- According to Transparency Market Research’s latest market report on the electromagnetic flow meter market for the historical period of 2014–2018 and the forecast period of 2019–2027, the market is expected to expand at a high rate during the forecast period, owing to the operational facilities provided by manufacturers and the low maintenance costs of electromagnetic flow meters.
- In terms of revenue, the global electromagnetic flow meter market is estimated to reach a value of US$ 1.4 Bn by the end of 2019, and is expected to expand at a CAGR of ~ 6% throughout the forecast period.
Moving Parts and Maintenance-free Design: A Key Driver
- Once electromagnetic flow meters are installed, sensors are placed on devices in such a manner that the maintenance required is minimal. In other words, industries using these flow meters do not need to replace them again and again.
- The expected service life of an electromagnetic flow meter is 30 years. The cost of a fixed electromagnetic flow meter is determined by its line size, which helps customers choose the electromagnetic flow meter as per their requirement.
- The easy-to-operate and maintenance-free design of electromagnetic flow meters has augmented the demand for these instruments.
- For instance, ABB (U.S.) provides electromagnetic flow meters with long-lasting sensor-lining materials to the oil & gas industry. This ensures the long service life of sensors, resulting in low maintenance costs.
Increasing Need for Electromagnetic Flow Meters in Wastewater Treatment
The salinity of freshwater bodies has been increasing, which, in turn, is boosting the demand for seawater desalination projects. This would require various types of flow meters. The demand for clean and safe water in various manufacturing and processing industries, such as power & energy and pharmaceutical, is increasing.
- It has been observed in a survey that, Canada has more than 3,700 water and wastewater treatment facilities. Out of these, 399 plants have been estimated to be suffering from high risk of water contamination, and hence, they need to be improved by 2020. This would require a large number of electromagnetic flow meters.
- Outside of North America, Asia Pacific is also in need of wastewater treatment. Wastewater screening manufacturers are entering into agreements with wastewater treatment plants for operation in the region.
Non-compatibility with Non-conductive Liquids a Major Challenge
Electromagnetic flow meters generally do not work with hydrocarbons, distilled water, and several non-aqueous solutions. Electromagnetic flow meters cannot be used in cases wherein the flow of compressible fluids (gases) needs to be determined. This factor is restraining the electromagnetic flow meter market.
- According to key manufacturers of electromagnetic flow meters, the results of electromagnetic flow meters are affected by the fluid temperature and the operating pressure. If the same instrument is used to measure the flow of fluids with different pressures and temperatures, readings are observed to be different.
Electromagnetic Flow Meter Market: Competition Landscape
- Detailed profiles of the manufacturers of electromagnetic flow meters have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the global electromagnetic flow meter market are
- ABB Ltd.,
- Badger Meter, Inc.
- Emerson Electric Co.
- Endress+Hauser AG
- General Electric Co.
- Honeywell International Inc.
- KROHNE Messtechnik GmbH
- McCrometer, Inc.
- Omega Engineering Inc.
- Siemens AG
- Toshiba Corporation
- Yokogawa Electric Corp.
Electromagnetic Flow Meter Market: Key Developments
Key manufacturers operating in the global electromagnetic flow meter market, such as General Electric Co. and Endress+Hauser Management AG, are strengthening their overseas sales structure by increasing their production capacities. Some other key developments in the global electromagnetic flow meter market are as follows:
- In May 2019, Endress+Hauser invested in sensor technology. Its subsidiary, i.e. Innovative Sensor Technology IST AG, has expanded its plant in Ebnat-Kappel, Switzerland. This would fulfill the rising demand for innovative sensors, and thereby, promote the growth of Innovative Sensor Technology IST AG.
- In March 2017, GE Oil & Gas launched a new product - TransPort PT900 Portable Ultrasonic Flow meter, which is a clamp-on meter for liquid flow measurement. This device has transmitter and clamping fixtures that enable features such as application-driven user interface on an Android tablet.
In the report on the global electromagnetic flow meter market, we have discussed individual strategies, followed by company profiles of manufacturers of electromagnetic flow meters. The ‘Competition Landscape’ section has been included in the global electromagnetic flow meter market report to provide readers with a dashboard view and company market share analysis of key players operating in the global electromagnetic flow meter market.
[254 Pages Report] Transparency Market Research (TMR) recently published a market study on the global market for electromagnetic flow meters. The study provides detailed assessment on the key market dynamics, including the drivers, trends, opportunities restraints, and detailed information about the electromagnetic flow meter market structure. The market study presents exclusive information about how the electromagnetic flow meter market will grow during the period of 2019-2027.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compound Annual Growth Rate (CAGR) are explained in TMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the electromagnetic flow meter market during the forecast period.
The study is relevant for stakeholders in the electromagnetic flow meter market, including electromagnetic flow meter manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the electromagnetic flow meter market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in TMR’s study.
The study also includes statistics as well as facts related to the macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the electromagnetic flow meter market. Furthermore, small businesses and new entrants in the electromagnetic flow meter market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Electromagnetic Flow Meter Market Report
- Will North America and Europe continue to remain the most profitable regional markets for electromagnetic flow meter market players?
- Which factors will induce a change in the demand for electromagnetic flow meters during the assessment period?
- How will changing trends in the water & wastewater treatment industry influence the trends in the electromagnetic flow meter market?
- How can market players capture the low-hanging opportunities in the electromagnetic flow meter market in developed regions?
- Which companies are leading the electromagnetic flow meter market?
- What are the winning strategies of stakeholders in the electromagnetic flow meter market to upscale their position in this landscape?
Electromagnetic Flow Meter Market: Research Methodology
In TMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the electromagnetic flow meter market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred by to analysts during the production of the electromagnetic flow meter market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the electromagnetic flow meter market, and makes TMR’s projection on the growth prospects of the electromagnetic flow meter market more accurate and reliable.
Key Segments of the Electromagnetic Flow Meter Market
TMR’s study on the electromagnetic flow meter market offers information divided into five important segments—installation, connection to power source, application, end-use industry, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Insertion Flow Meters
In-line Flow Meters
Low Flow Meters
Connection to Power Source
Food & Beverages
Metals & Mining
Paper & Pulp
Water & Wastewater Treatment
Middle East & Africa