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Magnetic Flow Meter Market

Market Insights on Magnetic Flow Meter covering sales outlook, demand forecast & up-to-date key trends

Magnetic Flow Meter Market by Product Type, Components, Application & Region - Forecast 2022 - 2032

Magnetic Flow Meter Market

The global magnetic flow meter market is estimated to reach a valuation of US$ 4 Bn by the end of 2032. The sales of magnetic flow meters are projected to exceed US$ 2.5 Bn by 2022, exhibiting growth at a CAGR of nearly 4% to 5% during the forecast period 2022-2032.

Report Attribute

Details

Magnetic Flow Meter Market Base Year Value (2021)

US$ 2.35 Billion

Magnetic Flow Meter Market Expected Value (2022)

US$ 2.5 Billion

Magnetic Flow Meter Market Anticipated Value (2032)

US$ 4 Billion

Magnetic Flow Meter Market Projected Growth Rate (2022-2032)

4% to 5% CAGR

Magnetic flow meters, commonly known as mag meters, are transducers used to measure the flow of fluids in the pipeline by inducing voltage across the liquid flow through a magnetic field. These volumetric flow meters make use of electrodes connected to the flow of liquid to determine the velocity in a pipe or tube.

Which are Some Prominent Drivers Spearheading Magnetic Flow Meter Market Growth

Magnetic flow meters are finding a wide range of applications across industries such as pulp & paper, agriculture, food & beverage, and others, owing to proficiency in measuring the liquid flow in multiple directions (downstream as well as upstream). These volumetric flow meters also measure the liquids that have both high and low flow rates in terms of their volume.

Attributed to this, magnetic flow meters are extensively being used for determining conductive water-based or volumetric flow for paper & pulp, slurries, black liquor, and other liquids. Hence, rapid expansion of aforementioned industries is estimated to accelerate the demand for magnetic flow meters in the global market.

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What are the Challenges Faced by the Magnetic Flow Meter Market

Sales of magnetic flow meters are negatively being affected by the limitation such as need for electrically conductive measured fluid media and a pipe or tube full of flowing liquid, and not suitable for the fluids having conductivity less than 20 micro ohm per cm. In addition to this, the inability of these transducers to measure gas flow and non-conductive fluids such as hydrocarbons is further hampering the demand for magnetic flow meters in the global market.

Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Magnetic Flow Meter Market

Future Market Insights states that Asia Pacific excluding Japan is projected to emerge as the most lucrative market for magnetic flow meters between 2022 and 2032.

With rising concerns regarding plastics packaging and growing consumer inclination toward the adoption of paper-based packaging and products, demand for papers is surging at a rapid pace. Hence, leading industry players are focusing on expanding their paper production capacity.

For instance, in 2021, JK Paper Ltd, an Indian paper manufacturing company, announced investing US$ 261 Mn for increasing its paper packaging board production capacity by 1,70,000 tons per annum and 1.6 lakh pulp units to close to 7.8 lakh tons per annum. As magnetic flow meters play a crucial role in paper & pulp production facilities, such development is estimated to bolster the sales in the Asia Pacific excluding Japan market.

Nikhil Kaitwade
Principal Consultant
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Why are the Sales of Magnetic Flow Meters Accelerating in the North America Market

As per FMI, North America is projected to account for a significant share in the global magnetic flow meters market during the forecast period 2022-2032. 

Demand for fluid flow measuring devices is increasing at a rapid pace, owing to growing adoption across water & water waste treatment, agriculture, and food & beverages. Hence, key manufacturers are emphasizing on launching novel products to cater to the existing opportunity.

For instance, OleumTech Corp., a U.S.-based manufacturer of wireless industrial automation solutions, announced adding a new Mag Flow Meter to its fast-growing H Series hardwired process instrumentation line. The novel mag flow meter offers a backlit local display interface, best-in-class PTFE lining material, and various self-diagnostic features. A multiplicity of such new product launches are anticipated to favor the growth in the North America market.

Market Competition

Some of the leading players in the magnetic flow meters market are General Electric Co, Yokogawa Electric Corporation, Honeywell international Inc., Azbil Corporation, Omega Engineering Incand, Krohne Messtechnik GmbH, Siemens AG, ABB Ltd, Endress+Hausar AG, Emerson Electric Corporation, and others.

Leading players in the global market are aiming at launching high performance products with innovative features to gain edge in the highly competitive market.

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Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 4% to 5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Components
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • General Electric Co
  • Yokogawa Electric Corporation
  • Honeywell international Inc.
  • Azbil Corporation
  • Omega Engineering Incand
  • Krohne Messtechnik GmbH
  • Siemens AG
  • ABB Ltd
  • Endress+Hausar AG
  • Emerson Electric Corporation
  • Others

Customization

Available Upon Request

Key Segments Profiled in the Magnetic Flow Meter Industry Survey

By Product Type:

  • Low Flow Magnetic Flow Meters
  • Insertion Magnetic Flow Meters
  • Inline Magnetic Flow Meters

By Components:

  • Magnetic Coil
  • Transmitter
  • Sensing Electrode
  • Non-magnetic Flow Tube

By Application:

  • Chemical & Petrochemical
  • Metal & Mining
  • Pharmaceutical
  • Food & Beverage
  • Water & Wastewater
  • Oil & Gas
  • Power Generation
  • Pulp & Paper
  • Agriculture
  • Other

By Region:

  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

FMI projects the demand for magnetic flow meter in the market to expand at around 4% to 5% value CAGR over the forecast period 2022-2032

The magnetic flow meter market is dominated by Asia Pacific excluding Japan, and this trend is projected to continue for the assessment period.

General Electric Co, Yokogawa Electric Corporation, Honeywell international Inc., Azbil Corporation, Omega Engineering Incand, Krohne Messtechnik GmbH, Siemens AG, ABB Ltd, Endress+Hausar AG, Emerson Electric Corporation, and others are some prominent magnetic flow meter manufacturer.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Find your sweet spots for generating winning opportunities in this market.

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Magnetic Flow Meter Market