Registering a CAGR of 5.3% over the forecast period of 2022-2027, the global Magnetic Flowmeters market is anticipated to reach the market value of US$ 2743.13 Million from US$ 2042.1 Million in the year 2020.
The magnetic flowmeter is an instrument that can amount water-based or conductive volumetric flow including pulp & paper slurries and black liquor. It is also used in noticing flaws and impurities, which is predictable to provide avenues for market growth over the next seven years. In addition, development and updating of certain standard norms for impurities may initiate manufacturers to develop a better instrument, thus contributing towards future growth. Development in electromagnetic technology is predictable to make the product better and more precise, which may increase demand. Continuous technical development has resulted in the introduction of a two-wire mag meter that uses available power from the loop-power supply, which decreases wiring costs resulting in low installation costs. Additionally, their application in non-intrusive measurement may also rise the manufacturing demand. The growth of battery-controlled and wireless mag meters is also predictable to drive future market growth. This progress has reduced the difficulty involved in the installment of instruments at remote places.
While magnetic flow meters are chiefly designed as a volumetric flow device, they are progressively being used to evaluate the mass flow– another factor that is projected to fuel the expansion of the global magnetic flowmeter market during the forecast period. The growing demand from the mining sector to measure the slurry flow is one of the major factors anticipated to contribute to the overall growth of the market for magnetic flow meters during the assessment period. As more companies operating in the current magnetic flowmeter market landscape continue to invest resources in research, applications of magnetic flow meter continue to extend across various industries.
Yokogawa to Release Equipment/Quality Predictive Detection Tool for SMARTDAC+ Paperless Recorders and Data Loggers
Tokyo, Japan - April 19, 2022
Yokogawa Electric Corporation (TOKYO: 6841) announces that it will today release the Equipment/Quality Predictive Detection Tool. This addition to the OpreX™ Data Acquisition family is an AI-based tool for building equipment and quality anomaly predictive detection systems for GX series, GP series, and GM series SMARTDAC+™ paperless recorders and data loggers. With this software, even users who are not AI specialists will be able to build their own equipment and quality anomaly predictive detection systems for manufacturing sites. It will help them improve production efficiency by identifying equipment defects and deteriorating quality in their plants and other facilities at an early stage.
Magnetic Flowmeters Market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Applications, it is segmented into
APAC dominated the Magnetic Flowmeter Market by a market share of more than 34% in 2020, owing to increasing water and wastewater management plants. Increasing population and water scarcity issues are the primary factors that lead to the rise of growing water management plants, thereby boosting the demand of magnetic flowmeters. According to Water Environment Partnership in Asia, improvement in water environment can only be done by providing necessary information and knowledge for the enactment of water environment governance. Furthermore, According to Israel's Ministry of Strategic Affairs & Public Diplomacy, nearly 90% of wastewater in Israel is recycled and thus making Israel the world leader in water recycling in 2020.
All these factors greatly affect the Magnetic Flowmeters market growth. It further aims at offering a complete overview on a detailed assessment of important features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
The Magnetic Flowmeters Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Magnetic Flowmeters Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Scope of the Report covers Magnetic Flowmeters Market with detailed analysis of the overall scenario for the market. It also highlights the business participants' environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Magnetic Flowmeters Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how worldwide market is working through efficient information graphics.
Forecast Period 2022 to 2027 CAGR
CAGR of 5.3% during the review period (2022 to 2027).
ABB, Toshiba Corporation (OTC TOSYY), Fidelity OTC Portfolio (Nasdaq FOCPX), Endress+Hauser, Yokogawa, KROHNE, Azbil, Emerson, Magnetrol, OMEGA, Welltech Automation, Shanghai Kent Instrument, Kaifeng Instrument, Fuji Electric
• North America
• Rest of the World
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
2017 to 2021
2022 to 2027
Number of Pages
Yes, the report can be customized as per your needs
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
What is the study period of this market?
The Magnetic Flowmeters Market is studied from 2017 - 2027.
Who are the key players in Magnetic Flowmeters Market?
ABB, Toshiba Corporation (OTC TOSYY), Fidelity OTC Portfolio (Nasdaq FOCPX), Endress+Hauser, Yokogawa, KROHNE, Azbil, Emerson, Magnetrol, OMEGA, Welltech Automation, Shanghai Kent Instrument, Kaifeng Instrument, Fuji Electric, Shanghai Guanghua, IDEX, ChuanYi Automation, ONICON, Yokogawa
What are the significant types of Magnetic Flowmeters Market?
General Purpose Mag Meter, Battery-Powered Mag Meter, Others.
What are the major end-use applications of the Magnetic Flowmeters Market?
Factory Automation, Food & Beverage Processing, Municipal/Wastewater Treatment, Mining, Pulp & Paper Production, Others, Others.
What segments are covered in the Magnetic Flowmeters Market report?
The Global Magnetic Flowmeters Market is Segmented on the basic of Product, Application, and Geography.
How can I get a sample report/company profile for the Magnetic Flowmeters Market?
The sample report for the Magnetic Flowmeters Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.