Market Research Report
Global Magnetic Flowmeters Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||886901|
|Published||Content info||136 Pages
Delivery time: 1-2 business days
|Global Magnetic Flowmeters Market 2019-2023|
|Published: July 8, 2019||Content info: 136 Pages||
Magnetic flowmeter is a transducer used to measure fluid flow by inducing voltage across the liquid through a magnetic field. Technavio's global magnetic flowmeters market analysis considers the demand from end-users such as water and wastewater, chemicals, mining and metals, food and beverages, and others. Our analysis also considers the growth of the magnetic flowmeters market in APAC, Europe, MEA, North America, and South America. In 2018, the water and wastewater segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as ability of magnetic flowmeters to measure thickened sludge and totalized flow measurement will play a significant role in the water and wastewater segment to maintain its market position. Also, our global magnetic flowmeters market looks at factors such as effectiveness of magnetic flowmeter in process industry, increasing investments in water and wastewater treatment industry, and rising demand for hygienic magnetic flowmeter. However, availability of alternatives, slowdown in investment in mining and metals industry, and technical challenges may hamper the growth of the magnetic flowmeters industry over the forecast period.
Magnetic flowmeters are highly effective in the measurement of thickened sludge and liquid with high solid content. These flowmeters have low calibration requirements and can measure liquid properties such as conductivity and density with high accuracy. The presence of abrasion and corrosion resistant liners also allows magnetic flowmeters to measure erosive fluids, slurry, acids, and bases. Moreover, magnetic flowmeters do not have any moving parts which makes them less prone to failures and reduces the maintenance cost. The high effectiveness of magnetic flowmeters will boost its adoption in the process industry and consequently drive market growth at a CAGR of over 5% during the forecast period.
Market vendors are focusing on the development of smart magnetic flowmeters for high flow rate applications which will provide highly accurate data and minimize downtime of end-user industries. Smart magnetic flowmeters are equipped with advanced flowmeter technology and can be operated by remote process control and monitoring systems. Moreover, these types of magnetic flowmeters are easy to install and eliminate the need for flow computers. Such technological innovations are expected to boost the demand of magnetic flowmeters in the forthcoming years.
For the detailed list of factors that will drive the global magnetic flowmeters market size during the forecast period 2019-2023, view our report.
With the presence of several players, the global magnetic flowmeters market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several magnetic flowmeters companies, that include ABB Ltd., Badger Meter Inc., Emerson Electric Co., Endress+Hauser Management AG, Siemens AG, and Yokogawa Electric Corp.
Also, the magnetic flowmeters market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.