The global Magnetic Fluid Flow Meters Market is projected to grow at a CAGR of 4.5% during the forecast period 2023 to 2030. The sales of magnetic flow meters was valued over USD 2.5 billion by 2023.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Magnetic Fluid Flow Meters Market .Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Magnetic Fluid Flow Meters Market . In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner.Magnetic flow meters are used a lot in many different end-use industries, such as the paper and pulp, chemical, power, wastewater treatment, metals, and mining industries. Demand for magnetic fluid flow meters continues to grow at a steady rate as market participants in the current magnetic flow meter market focus more on volume flow and less on conductivity. During the forecast period, research and development are likely to be a big part of the growth of the global magnetic fluid flow meters market. The most common types of installation are low-flow meters, in-line installations, and insertion installations.
Even though magnetic fluid flow meters were originally made to measure volumetric flow, they are being used more and more to measure mass flow rate. This is another factor that is expected to drive the growth of the global magnetic fluid flow meters market during the forecast period. During the assessment period, one of the main things that is expected to drive the growth of the magnetic fluid flow meters market is the growing need for measuring slurry flow in the mining industry. In the current market for magnetic fluid flow meters, more and more companies are putting money into research, which means that magnetic fluid flow meters are being used in more and more industries.
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.
It provides a detailed description of the drivers and opportunities in the Magnetic Fluid Flow Meters Market , which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Magnetic Fluid Flow Meters Market , are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries.In 2020, about 25% of the total market share was made up of the magnetic flowmeters market segment. The product is also divided into magnetic flowmeters that are wired and ones that aren’t. From 2021 to 2028, the Ultrasonic and Coriolis segments are expected to have a high growth rate of over 7.5%. In 2020, about 45% of the total market share was made up of revenue from the battery-powered segment. From 2021 to 2028, the solar power type segment is expected to have a high growth rate of over 7.5%. In 2020, about 44% of the total market’s revenue came from the 2-inch pipe size segment, which is expected to have a high CAGR of more than 6% from 2021 to 2028. The exact pipe size is most important for any product because a distorted fluid velocity profile (swirl) is one of the most common reasons why a product isn’t accurate. Due to the fast growth of the industry, the oil and gas segment is expected to grow the fastest, with a CAGR of 6.6% from 2021 to 2028. The development of shale gas reserves is also expected to increase demand for the product in the oil and gas (O&G), chemical, and petroleum refining industries.
Based on types, the Magnetic Fluid Flow Meters Market is segmented into:
- AC (Alternating Current)
DC (Direct Current)
Based on application, the Magnetic Fluid Flow Meters Market is segmented into:
- Chemical & Agricultural
Pharmaceutical
Food & Beverage
Pulp & Paper
Municipal
Mining
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Recent Development
Emerson and AspenTech announced in 2019 that they would work together to offer asset optimization software solutions, global automation technologies, and operational consulting services. Together, the two leaders in their fields will help customers improve production and drive operational excellence.
Rawson/Industrial Controls, which is part of ERIKS, has signed a deal with Emerson Industrial Automation & Controls (formerly GE Intelligent Platforms) to become an official channel partner in Arkansas, Louisiana, and Texas. This deal was announced on November 2020. The announcement makes their 30-year partnership in seven northeastern states even stronger.
Badger Meter, Inc. signed a contract in January 2021 to buy Analytical Technology, Inc., a privately owned company that makes water quality monitoring systems. The company was started in 1992 and has its headquarters in Pennsylvania, US. Its main business is designing, making, and selling instruments that measure water quality using electrochemical and optical sensors. This expansion can help Badger Meter, Inc. make better products for the water and wastewater industries.
In September 2019, Krohne Messtechnik GmbH joined forces with Samson AG, a company that makes, sells, and develops autonomous actuators for the process industry 4.0.
Regional Analysis
In 2020, Europe led the market and made up more than 35% of the global revenue share. North America was in second place. In Europe, systems are used a lot in the power generation market, which helps the market grow in the region. In the region, the need for magnetic, ultrasonic, and Coriolis flow meters for oil and gas management is likely to grow. Flow measurement products and services are made and sold in Europe by companies like Endress+Hausar AG, Krohne Messtechnik GmbH, and ABB Ltd. So, Europe had the biggest share of the market in 2020, and this is likely to stay the case throughout the forecast period.
Some of the biggest market players in North America are General Electric, Emerson Electric Corporation, and Honeywell International Inc., so the region has a big share of the market in terms of revenue. From 2021 to 2028, APAC is expected to have a CAGR of more than 7%. India and China’s markets are expected to grow a lot over the next few years because water and wastewater management is changing all the time.
Regional Magnetic Fluid Flow Meters Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
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- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in Magnetic Fluid Flow Meters Market include:
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- Magnetic Fluid Flow Meters Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
Report Customization: This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.
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Key Market Participants in the Magnetic Fluid Flow Meters Market :
ABB, Emerson, Siemens, OMEGA Engineering, Yokogawa
Recent Development
Emerson and AspenTech announced in 2019 that they would work together to offer asset optimization software solutions, global automation technologies, and operational consulting services. Together, the two leaders in their fields will help customers improve production and drive operational excellence.
Rawson/Industrial Controls, which is part of ERIKS, has signed a deal with Emerson Industrial Automation & Controls (formerly GE Intelligent Platforms) to become an official channel partner in Arkansas, Louisiana, and Texas. This deal was announced on November 2020. The announcement makes their 30-year partnership in seven northeastern states even stronger.
Badger Meter, Inc. signed a contract in January 2021 to buy Analytical Technology, Inc., a privately owned company that makes water quality monitoring systems. The company was started in 1992 and has its headquarters in Pennsylvania, US. Its main business is designing, making, and selling instruments that measure water quality using electrochemical and optical sensors. This expansion can help Badger Meter, Inc. make better products for the water and wastewater industries.
In September 2019, Krohne Messtechnik GmbH joined forces with Samson AG, a company that makes, sells, and develops autonomous actuators for the process industry 4.0.
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