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Market Overview:
The Magnetic Flowmeter Market size is estimated to reach $3.5 billion by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Magnetic Flowmeter Market – By Product Type (In-line Magnetic Flowmeter, Insertion Magnetic Flowmeter, Low Magnetic Flowmeter), By Components (Magnetic coil, Transmitter, Sensing Electrode, Non-magnetic flow tube, and Others), By Technology (Hart, Profibus, Modbus, Fieldbus, and Others), By End Use Industry (Water & wastewater treatment, Chemicals, Oil & Gas, Food & Beverage, Pharmaceutical, Agriculture, Metal & Mining, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Rising demand for water & wastewater management and Increased adoption in the food & beverage and pharmaceutical industries are expected to create growth opportunities in the market during forecast period.
APAC Dominated the Market in 2023:
APAC accounted for the largest share of 34% of the Magnetic Flowmeter Market in 2023 followed by North America and Europe. 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. Additionally, the region's focus on sustainability is leading to a growing preference for environmentally friendly flowmeter solutions.
Magnetic Flowmeter Market: Key Takeaways
Advancement in Smart Flowmeters and IoT Integration:
Modern magnetic flowmeters are evolving to offer advanced data analytics, remote monitoring, and enhanced diagnostic capabilities. These smart flowmeters can transmit real-time flow data, detect anomalies, and reduce operational downtime by enabling predictive maintenance. The trend aligns with the growing industrial push toward digitalization and smart infrastructure, particularly in water management, oil & gas, and chemical industries. By offering more accurate and real-time data, these flowmeters improve operational efficiency, leading to better resource management and reduced costs.
Rising Demand for Sustainable and Energy-Efficient Solutions:
Magnetic flowmeters, which operate without moving parts and cause minimal pressure loss, have become a popular choice for sustainable industrial operations. Their ability to accurately measure flow in challenging environments, such as wastewater and corrosive chemical applications, makes them essential in sectors prioritizing eco-friendly processes. This trend is expected to drive growth as industries, especially in water and wastewater management, seek reliable, energy-efficient measurement solutions that align with their environmental goals and regulatory compliance.
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Scope of the Report:
Recent Developments:
- In March 2023, ATO Flow Meter, a prominent China-based manufacturer, expands its product line with the introduction of a Magnetic Flowmeter. These additions cater to diverse industry needs, providing reliable measurement solutions for liquids, gases, and steam environments worldwide, reflecting the company's commitment to innovation and customer-centric offerings.
- In October 2022, Yokogawa Electric Corporation introduces the OpreX Magnetic Flowmeter CA Series, featuring non-wet electrode construction and enhanced functionalities, available in major global markets with plans for expansion into Europe and China pending certification.
- In June 2022, Anderson-Negele completed acquisition of GEA Diessel's MBC Division, enhancing its hygienic instrumentation portfolio with high-precision magnetic flow meters for food, beverage, pharmaceutical, and biotechnology industries.
Magnetic Flowmeter Market: Competitive Landscape
Key companies profiled in the Magnetic Flowmeter Market are Emerson Electric Co, Endress + Hausan AG, ABB Ltd, Krohne Messtechnik GmbH, Badge Meter Inc, Yokogawa Electric Corporation, McCrometer Inc, Honeywell International Inc, Toshiba Corporation, Siemens AG and Others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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IndustryARC
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