Electromagnetic Flowmeter Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electromagnetic Flowmeter Market Analysis
The Electromagnetic Flowmeter Market is expected to register a CAGR of 5.1% during the forecast period. The growing need for high accuracy, reliable measurement, and monitoring of industrial fluids for optimum utilization are major factors driving the growth of the market studied. With the increased mining activities, the flow measurement in the mining sectors is becoming challenging over the recent past. Slurries, chunks of rocks, and gravel result in noisy flow signals and are most abrasive. Corrosive fluids require chemical compatibility of the wetted parts within the flowmeter sensor.
- Electromagnetic flowmeters are being widely adopted to measure liquids that are conductive in nature. Liquids with a minimum conductivity of 10 μS/cm are easily measured using an electromagnetic flowmeter. As the electromagnetic flowmeter does not have any moving parts, it requires less maintenance than other flowmeters. It can generally be used for any line size, with good accuracy and no pressure loss. Primarily, industries are investing in flowmeters, where accuracy is of utmost importance, i.e., in the range of 0.2% to 0.5%.
- Sewage water treatment, water distribution, effluent measurement, slurry, and other dense liquid measurements in various public and private sectors are some of the highly adopted applications of electromagnetic flowmeters. Furthermore, introducing battery-powered electromagnetic flowmeters eliminates the power supply issues, expanding its scope among small industries.
- The growing need for wastewater treatment is also a significant factor driving the growth of the market studied. Many waste management organizations are investing in electromagnetic flowmeters as their plants are also expanding.
- In June 2021, KROHNE Inc. announced the TIDALFLUX 2300 F, an electromagnetic flowmeter that provides reliable flow measurement in pipes between 10 and 100% complete. It features a non-contact sensor that remains unaffected by oils and fats floating on the surface. TIDALFLUX 2300 F has high chemical and abrasion resistance and is available in diameter to fit pipes up to 64 inches. TIDALFLUX 2300 F is best-suitable for municipal or industrial wastewater transport applications.
- The outbreak of COVID-19 triggered the electromagnetic flowmeters market to re-evaluate its conventional production processes, fundamentally driving the digital transformation and Industry 4.0 practices across the production lines. The manufacturers are also forced to devise and deploy multiple new and agile approaches to monitor product and quality control. The COVID-19 pandemic created economic turmoil globally for small, medium, and large-scale industries. The government's lockdown was inflicted to minimize the virus' spread, resulting in sectors taking a hit.
Electromagnetic Flowmeter Market Trends
Water and Wastewater Industry to Witness the Highest Growth
- In industrial environments, an electromagnetic flowmeter is primarily used in water management. Decades of ongoing research and development in sensors and signal processing resulted in sophisticated electromagnetic flowmeters that can be integrated optimally into highly complex applications using measuring, controlling, and regulating technologies.
- Electromagnetic flowmeters are used to measure treated and untreated sewage, processed water, water, and chemicals. Their power usage is relatively low, with electrical power requirements as low as 15 watts for some models. Therefore, with increasing investments in water infrastructure, electromagnetic flowmeters are also expected to witness a rise in adoption.
- Once the electromagnetic flowmeter is calibrated to operate with water, it can be further used to measure the other conductive fluids with no additional correction. This is a significant advantage that different types of flow meters do not have.
- Furthermore, electromagnetic flowmeters enable the measurement of water with conductivity as low as 1 μS/cm. For low-conductivity fluids, like de-ionized water, only dual-frequency magmeters with high excitation currents and high excitation frequencies can perform such applications.
- The United States Environmental Protection Agency enforces federal clean water and safe drinking water laws, provides support for municipal wastewater treatment plants, and takes part in pollution prevention efforts aimed at protecting watersheds and sources of drinking water. According to the US census bureau, it is projected that the revenue of water, sewage, and other systems in the United States will amount to approximately USD 14.7 billion by 2022.
- Moreover, in most electromagnetic flowmeters, enhanced dual-frequency excitation with a high frequency is being made available as an optional feature. This ensures highly stable measurements in demanding applications, such as low-conductivity water.
Asia-Pacific to Emerge as the Fastest Growing Market
- The water and wastewater management industry is dominant in many countries of the Asia-Pacific region, and according to WHO, reducing wastewater generation and implementing on-site sewage and wastewater technology are two strategies that can improve wastewater management.
- According to India Brand Equity Foundation, in December 2021, India was halfway through an ambitious plan to deliver safe drinking water to all 192 million homes in 600,000 villages by 2024. Hundreds of thousands of contractors and laborers are installing more than 2.5 million miles of the pipe as part of the USD 50 billion projects, which about 18,000 government engineers oversee.
- For instance, Cleantech water, an Ahmedabad-based company, provides single-window decentralized solutions for wastewater treatment, catering to industrial and domestic needs. The company offers a variety of wastewater treatment and water treatment solutions, such as sewage treatment plants, grey water treatment plants, effluent water treatment plants, industrial water treatment, RO plants, pressure sand filter systems, and dual media filters.
- Furthermore, the Water Environment Partnership in Asia (WEPA) also aims to improve the water environment by offering information and knowledge necessary for enhancing water environment governance. Such factors have significantly contributed to the growth of the region.
Electromagnetic Flowmeter Industry Overview
The Global Electromagnetic Flowmeter Market is very competitive. Some of the significant players in the market are ABB Ltd, Azbil Corporation, Endress+Hausar AG, Emerson Electric Corporation, Toshiba Corporation, Honeywell International Inc., KROHNE Messtechnik GmbH, and many more. The companies are increasing the market share by forming multiple partnerships and investing in introducing new products to earn a competitive edge during the forecast period.
In July 2022, Siemens Greece partnered with the municipal water and sewerage company of Larissa (DEYAL), marking Siemens' presence at this year's IFAT, the world's leading trade fair for water, sewage, waste, and raw material management. Siemens provides water and sewage facility/network management and rural area irrigation solutions through this flagship project. In contrast, Siemens' high energy efficiency pumps, flowmeters, and Industry 4.0 solutions have already led to significant energy savings and seepage loss reductions.
In November 2021, ABB's electromagnetic flowmeters had the expertise to across the complete water cycle, from extraction and treatment to metering and distribution. The company has an extensive range of electromagnetic flow meters and measurement products for use throughout all cycle stages. ABB partnered with the Danish water environment DHI Group to develop a suite of digital solutions to enable faster and more accurate decision-making for water and wastewater utilities.
Electromagnetic Flowmeter Market Leaders
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ABB Ltd
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Azbil Corporation
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Endress+Hausar AG
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Emerson Electric Corporation
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Toshiba Corporation
*Disclaimer: Major Players sorted in no particular order
Electromagnetic Flowmeter Market News
- June 2022 - EEndress+Hauser dedicated a new facility in France. Endress+Hauser manufactures flowmeters in Cernay for delivery to customers around the world. The additional 10,000 sq m of space will be used primarily to manufacture electromagnetic flowmeters. The new building was designed chiefly to manufacture the Progmag H and Dosimag H electromagnetic flowmeters, mainly used in the food and life sciences industries.
- December 2021 - ABB introduced the world's first electromagnetic AquaMaster4 Mobile Comms flowmeter with bidirectional connectivity to power intelligent water loss management. AquaMaster4 Mobile Comms flowmeter is the latest wireless solution for continuous flow measurement, the logging of accurate data, and the communication of information critical for water management. With its superior connectivity on 4G-LTE and NB-IoT networks, the AquaMaster4 electromagnetic flowmeter enables 60% lower power consumption, identifying leaks ten times faster than the market standard.
Electromagnetic Flowmeter Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Electromagnetic Flowmeter Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Water Shortage and the Growing Population
5.1.2 Technological Innovations in Irrigation
5.2 Market Challenges
5.2.1 The Inability to Measure Non-conductive Fluids
6. MARKET SEGMENTATION
6.1 By Product
6.1.1 In-line Magnetic Flowmeters
6.1.2 Low Flow Magnetic Flowmeters
6.1.3 Insertion Magnetic Flowmeters
6.2 By Application
6.2.1 Water and Wastewater
6.2.2 Chemicals and Petrochemicals
6.2.3 Power Generation
6.2.4 Metals and Mining
6.2.5 Oil and Gas
6.2.6 Food and Beverages
6.2.7 Other Applications (Pulp and Paper, Pharmaceuticals)
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Ltd
7.1.2 Azbil Corporation
7.1.3 Endress+Hausar AG
7.1.4 Emerson Electric Corporation
7.1.5 Toshiba Corporation
7.1.6 Honeywell International Inc.
7.1.7 KROHNE Messtechnik GmbH
7.1.8 OMEGA Engineering Inc. (Spectris PLC)
7.1.9 Siemens AG
7.1.10 Yokogawa Electric Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Electromagnetic Flowmeter Industry Segmentation
Electromagnetic flowmeters measure the flow of fluid with the help of the voltage induced across the liquid by its flow through a magnetic field.
The Electromagnetic Flowmeter Market is segmented by Product (In-line Magnetic Flowmeters, Low Flow Magnetic Flowmeters, Insertion Magnetic Flowmeters), by Application (Water and Wastewater, Chemicals and Petrochemicals, Power Generation, Metals and Mining, Oil and Gas, Food and Beverage), and by Geography (North America, Europe, Asia Pacific, Latin America, MEA). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Product | |
| In-line Magnetic Flowmeters | |
| Low Flow Magnetic Flowmeters | |
| Insertion Magnetic Flowmeters |
| By Application | |
| Water and Wastewater | |
| Chemicals and Petrochemicals | |
| Power Generation | |
| Metals and Mining | |
| Oil and Gas | |
| Food and Beverages | |
| Other Applications (Pulp and Paper, Pharmaceuticals) |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Electromagnetic Flowmeter Market Research FAQs
What is the current Electromagnetic Flowmeter Market size?
The Electromagnetic Flowmeter Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Electromagnetic Flowmeter Market?
ABB Ltd, Azbil Corporation, Endress+Hausar AG, Emerson Electric Corporation and Toshiba Corporation are the major companies operating in the Electromagnetic Flowmeter Market.
Which is the fastest growing region in Electromagnetic Flowmeter Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electromagnetic Flowmeter Market?
In 2024, the Asia Pacific accounts for the largest market share in Electromagnetic Flowmeter Market.
What years does this Electromagnetic Flowmeter Market cover?
The report covers the Electromagnetic Flowmeter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electromagnetic Flowmeter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electromagnetic Flowmeter Industry Report
Statistics for the 2024 Electromagnetic Flowmeter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electromagnetic Flowmeter analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
