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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.
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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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