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Global Electromagnetic Flowmeter Market to Reach USD 2.8 Billion by 2027, Aided by the Increasing Demand for Water and Wastewater Treatment

According to a new report by EMR titled, ‘Global Electromagnetic Flowmeter Market Report and Forecast 2022-2027’, the global electromagnetic flowmeter market reached a value of above USD 2 billion in 2021. The industry is further expected to grow at a CAGR of about 5.2% in the forecast period of 2022-2027 to reach a value of more than USD 2.8 billion by 2027.

The demand for electromagnetic flowmeters is expected to increase across various industries, such as mining, oil and gas, and so on, to monitor specific pipelines to ensure optimal functionality of magnetohydrodynamics and act as a major driver for the growth of the market during the forecast period. Innovation in energy sources for electromagnetic flowmeters is another key growth space for players in the electromagnetic flowmeter market. With the rise of renewable energy sources and the emergence of efficient batteries, battery-operated electromagnetic flowmeters are increasingly gaining adoption for most industrial applications. The market is expanding due to the increasing demand for accurate measurement and monitoring of industrial fluids for optimal utilisation. Wastewater treatment plants are required as a result of excessive water usage in the residential and industrial sectors. Subsequently, it reinforces the sales growth of electromagnetic flowmeters. Expanding economic activities attributed to a resurgence in the automotive and metal industry is expected to augment the market for electromagnetic flowmeters. The removal of the wiring constraint is another factor driving the electromagnetic flowmeter market.

Electromagnetic flowmeters are being studied by companies for use in hydroelectric power plants and other infrastructure-related installations. In March 2019, J-Power and Toshiba (TYO:6502) announced a joint demonstration project using low-power wide-area (LPWA) wireless technology to monitor water intake levels in mountainous areas that are difficult to access and typically out of range of cell phone service or private communication networks. The companies will continue to research and develop this technology for use in hydroelectric power plants and other infrastructure-related facilities.

Market Analysis by Product, Application, and Regions:

  • Based on product, the market is categorised into in-line magnetic flowmeters, low flow magnetic flowmeters, and insertion magnetic flowmeters.
  • The major applications of the market are water and wastewater, chemicals and petrochemicals, power generation, metals and mining, oil and gas, food and beverages, pulp and paper, and pharmaceuticals.
  • The regional markets for electromagnetic flowmeter include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Rapid industrialisation and urbanisation are among the major factors which are expected to boost the market for electromagnetic flowmeter.
  • Stringent governmental requirements have amplified the level of demands for electromagnetic flowmeters.
  • Technological improvements for amplified efficiency and productivity in the manufacturing method drive the essential for accurate and faster electromagnetic flowmeters.
  • With the increased investments in water infrastructure, electromagnetic flowmeters are predicted to become more popular.
  • The growing population and rising need for consistent measurement and monitoring of industrial fluids are the key factors influencing the market growth.

Key Offerings of the report:

  • The EMR report gives an overview of the global electromagnetic flowmeter market for the periods (2017-2021) and (2022-2027). 
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for product, application, and major regions of electromagnetic flowmeter.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global electromagnetic flowmeter industry are ABB Ltd., Azbil Corporation, Endress+Hauser Group Services AG, Emerson Electric Co., Toshiba International Corporation, and KROHNE Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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