The electromagnetic flowmeter market was valued at USD 1,981.2 million in 2019, and it is expected to reach USD 2,613.1 million by 2025, registering a CAGR of 5.1% during the period of 2020-2025. The growing need for reliable measurement and monitoring of industrial fluids for optimum utilization is driving the market growth. With the increased mining activities, the flow measurement in the mining sectors is become increasingly 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. Mining companies are gradually using the electromagnetic flowmeter to measure slurry flow with certain liners to reduce abrasion and, a densimeter to send data for the electromagnetic flowmeter, to translate into an online mass flow measurement.
- Water shortage and the growing population is significantly driving the market growth. According to the Worldwatch Institute’s Family Planning and Environmental Sustainability Assessment (FPESA), the world has been observing a major global trend that points out the ongoing growth of the human population. Various scientific evidence proved that this trend has a greater impact on water availability than climate change. According to the study conducted by the researchers at the Aarhus University, about 30-40% of the world is likely to experience an increasing demand for water and wastewater treatment, leading to water scarcity by 2020. This significantly demands the usage of the electromagnetic flowmeter market. - Technological innovations in irrigation? drive the market. The world has witnessed an increasing need for water and food In the past 50 years, and there are no signs of this trend slowing down. Due to this, innovative agricultural practices are imperative and much needed now more than ever. Modern irrigation, also termed as Irrigation 4.0, is being considered as a quintessential fourth industrial revolution that combines mechanical, digital and human inputs, and tools. For instance, the installation of flowmeters in the Indus Basin Irrigation System (IBIS) has allowed the real-time control of water distribution in the irrigation canals and a continuous recording of water deliveries. This has also led to positive impacts on water distribution efficiencies and management with the possibility to improve, guide, and address water policies in the IBIS district.? - The inability to measure non-conductive fluids? is restraining the market. While electromagnetic flowmeters have been known for their diverse benefits, their inability to measure non-conductive liquids is always likely to be a barrier for their application in the oil and gas and refining industries.? Magmeters are capable of measuring only liquids or liquid slurries that have a minimum conductivity of five µS/cm. - Moreover, the COVID-19 pandemic has affected the oil and gas industry drastically. For instance, Australia’s booming LNG industry stalled after falling in oil prices amid coronavirus. More than USD 80 billion of investment decisions are delayed due to a collapsed oil price and a geopolitical price war.? Despite several user applications of flowmeters in this segment of the market, the uncertainty of the pandemic, added with BREXIT and the US-China trade war, can impact the market growth in the foreseen period.? - A further player such as Azbil Corporation continues to hold extensive inventory in the Phoenix AZ location and is continuing to ship products daily, continuing the manufacturing and assembly of build-to-order items with normal lead times from the local Arizona and Colorado manufacturing centers?, which significantly caters to the market growth.
Key Market Trends Water and Wastewater Industry to Witness the Highest Growth
- In industrial environments, electromagnetic flowmeter is primarily used in water management. Decades of ongoing research and development in sensors and signal processing have resulted in sophisticated electromagnetic flowmeters that can be integrated optimally into highly complex applications using measuring, controlling, and regulating technologies.? - Further, the US Environmental Protection Agency (EPA) has accelerated investment in the nation’s aging water infrastructure. The EPA has issued seven WIFIA loans to help finance over USD 4 billion in water infrastructure projects. - Also, according to UN-WATER, due to population growth, accelerated urbanization, and economic development, the quantity of wastewater generated and its overall pollution load is increasing globally. The availability of a safe and sufficient amount of water supplies is closely linked to how wastewater is managed. - Further, 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. - Further, investment in new technology is significantly driving the market. For instance, in 2020, McCrometer Inc., a globally recognized flow meter manufacturer, announced the upcoming launch of its newest product, the McMag2000 flow meter. McMag2000 is a saddle-style insertion electromagnetic flowmeter, designed for the irrigation and water industries and best suited to applications, like center pivot systems, well monitoring, and surface water measurement.? - Moreover, companies are continuously investigating to implement electromagnetic flowmeter at hydroelectric power plants and other infrastructure-related facilities.? In March 2019, J-Power and Toshiba announced that the companies would have a joint demonstration project monitoring water intake levels in mountainous areas where it is difficult to access and that are typically out of range of cell phone service or private communication networks by adopting low-power wide-area (LPWA) wireless technology. The companies will continuously investigate to implement this technology at hydroelectric power plants and other infrastructure-related facilities.?
Asia-Pacific to Emerge as the Fastest Growing Market
- The water and wastewater management industry dominate in many countries in 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. - Singapore’s Tuas Desalination Plant (TDP), the first desalination plant that is owned and operated by PUB, Singapore’s National Water Agency, has won international recognition in 2019 for its use of ecologically sustainable technologies in the treatment process. - In February 2019, SUEZ NWS formed a 49/51 joint venture (JV) with Zhuhai Huigang Urban Resources Development Co. Ltd, to invest in, build, and operate a WWTP with a daily capacity of 25,000 ton, to treat the industrial wastewater generated by the industrial companies in the petrochemical park of the Zhuhai Gaolan Port Economic Zone. - Further, Nivo Controls Pvt. Ltd, an industrial automation company based in India, recently launched a new sanitary electromagnetic flowmeter for hygienic applications. The sanitary magnetic flowmeter is designed to meet the requirements of the dairy, food, beverages, brewery, and pharmaceutical industries for applications that demand hygienic, accurate, and reliable flow measurement. - Furthermore, the Water Environment Partnership in Asia (WEPA) also aims to contribute to improving the water environment by offering information and knowledge necessary for the enhancement of water environment governance. Such factors have significantly contributed to the growth in the region.
Competitive Landscape The market is fragmented in nature, with every other vendor providing electromagnetic flowmeters in various operating temperature ranges, media pressures, meter sizes, and materials of construction. Major players are ABB Ltd, Omega Engineering Inc., Honeywell International Inc., and Emerson Electric Corporation, along with other emerging players. Recent developments in the market are - - March 2020 - Emerson introduced Micro Motion ProcessViz, which is a standalone, cost-effective software solution for flow meter process data visualization. It provides instant visualization of raw process data translates into directly actionable information, helping plant operators in the chemical, food, and beverage, and oil and gas industry reduce the time needed to identify a problem in the flow process.? - March 2020 - Hitachi Capital Corporation, Yokogawa Electric Corporation, and Amnimo Inc., which is a subsidiary of Yokogawa, entered into a comprehensive partnership agreement with the goal of providing new services by adding Industrial IoT to each company’s technologies and lease equipment. The alliance is expected to provide high value-added services, such as the measurement of operating status data and offering consultation on the efficient use of equipment.?
Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - 3 months of analyst support
Our reports have been used by over 10K customers, including:
The global pressure vessel composite materials market was valued at US$ 758.36 million in 2019 and is projected to reach US$ 3,539.95 million by 2027; it is expected to grow at a CAGR of 21.4% from 2020 to 2027. Pressure vessel composite materials are used in pressure vessels used to store gases and liquids under high pressure.A composite...
Gross Domestic Product
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.