Electromagnetic Flowmeter Market

Electromagnetic Flowmeter Market Size (2023-2028):

The Global Electromagnetic Flowmeter Market size is expected to reach USD billion with a CAGR of 5.1% by 2028, where the base year is considered 2022 when the Electromagnetic Flowmeter Market share value was USD 2.3 billion.

Market Overview:

An electromagnetic flow meter is a device utilized for measuring the rate of flow of electrically conductive liquid. It is a liquid that allows the flow of electric current. It is based on Faraday’s principle of induction, which states that when a conductor moves through a field, it generates voltage along the conductor. The primary components of an electromagnetic flow meter consist of a conductive pipe through which the fluid flows and two electrodes or sensors positioned on opposite sides of the pipe. By passing current through coils around the pipe, a magnetic field is created, which generates voltage. When the conductive fluid passes through the pipe, it results in a force within the fluid. This voltage is directly proportional to both velocity and, subsequently, flow rate. Electromagnetic flow meters possess advantages, including accuracy levels, absence of moving parts, suitability for various fluids, and capability for measuring bi-directional flows. Electromagnetic flow meters find application in industries like water supply, wastewater treatment, chemical processing, and various other sectors where precise measurement of flow rates is of importance.

Recent Developments in Electromagnetic Flowmeter Industry:

• On 7 March 2023, ATO, a China-based manufacturer of flowmeters, launched two new products, a magnetic flow meter, and an ultrasonic flow meter for the measurement of versatile liquids, gases, and streams.
• In June 2021, KROHNE Inc. launched the TIDALFLUX 2300 F, which is an electromagnetic flowmeter designed to offer reliable flow measurement in pipes with a flow range of 10 to 100%. This innovative flowmeter is equipped with a non-contact sensor, ensuring accurate readings even when oils and fats are present on the fluid surface. Its exceptional chemical and abrasion resistance makes it highly durable, and it comes in various diameters suitable for pipes up to 64 inches. The TIDALFLUX 2300 F is particularly well-suited for wastewater transport applications, both in municipal and industrial settings.

REPORT COVERAGE:

Drivers:

Due to the increase in industrialization and urbanization, there is an increasing demand for water management and wastewater management. As people are shifting to cities, the demand for clean water has increased drastically. Also, as the number of industries is significantly rising, the generation of wastewater escalated over the years. And this caused the adoption of an electromagnetic flowmeter. In wastewater treatment plants, the electromagnetic flowmeter in monitoring and controlling of the wastewater through the treatment process. And thus, by measuring the flow rate, precise measurement of chemicals used for treatment can be measured and used. Whereas in water consumption, the electromagnetic flowmeter tracks water consumption and detects water leakage. Therefore, as the population and urbanization increase, demand for effective management of wastewater and distribution of water will significantly propel, which will expand the electromagnetic flowmeter market share. One of the major driving factors for the electromagnetic flowmeter market growth is its use in petrochemical and chemical industries, as it measures the rate flow of the fluid in the process line to measure the proper mixing of the chemicals and gases. Many chemical processes require the accurate addition of chemicals in the flowing stream. An electromagnetic flowmeter precisely measures the flow rate and velocity so that chemical mixing can be accurate. It also handles corrosive and abrasive liquids effectively. Also, fluids that have high viscosity can be easily measured. Therefore, the increasing number of chemical factories is fuelling the electromagnetic flowmeter market demand. Most mechanical meters have movable parts such as, such as blades, turbines, or paddles, and they can be subjected to erosion, mechanical stress, or clogging due to debris in the fluid, leading to increased maintenance needs and potential breakdowns. Electromagnetic flow meters do not face these issues, resulting in a longer operational life and reduced maintenance costs. Hence this fuelled the electromagnetic flowmeter market value.

Restraints:

An electromagnetic flowmeter is used for conductive liquids and fluids, and therefore it creates restraints for industries that use non-conductive liquids; non-conductive fluids, such as oils, hydrocarbons, and some solvents, do not conduct electricity and do not interact with the magnetic field in the same way as conductive fluids do. As a result, electromagnetic flow meters cannot accurately measure the flow rates of these liquids. And therefore, this creates a restraint in measuring the flow rate and velocity of the non-conductive liquids. Moreover, the high cost of electromagnetic flowmeter limits the use of this system for industries whose budget is low since electromagnetic flowmeter requires an initial investment, which s costly and thus can restricts its use for small-scale industries. And hence it can affect the size of the electromagnetic flowmeter market.

Opportunities:

The rise of industrial automation and the Internet of Things (IIoT) has increased the demand for smart flow measurement solutions. Electromagnetic flow meters, integrating with digital communication, enabled real-time data transmission, remote monitoring, and predictive maintenance. The combination of flow meters with data analytics systems can provide insights for the optimization of the process. As industries adopt digitalization, electromagnetic flow meters, therefore, can cater to the growing need for connected and efficient flow measurement solutions in various sectors like water management, chemical processing, and oil and gas. Therefore, the growing use of digitalization and industrial automation has transformed the industrial process into an efficient process, which thus exponentially led to the rise of the electromagnetic flowmeter market demand.

COVID-19 Impact on the Electromagnetic Flowmeter Market:

An outbreak of COVID-19 led to the implementation of lockdowns and restrictions, which caused the shutting down of industries, such as chemical and petroleum factories, where the demand and usage of electromagnetic flowmeters are high. Thus the effect of the pandemic caused a decline in the electromagnetic flowmeter market size. However, the market shares started to bounce from 2022 as the whole world is setting into pre-covid situation.

Electromagnetic Flowmeter Market Segmentation Analysis:

By Product:

• In-line Magnetic Flowmeters
• Low Flow Magnetic Flowmeters
• Insertion Magnetic Flowmeters

The in-line magnetic flowmeter accounted for the highest market share in the flowmeter market and this dominance is due to the applicability of the in-line market for both conductive and non-conductive liquids and fluids. Also, it is used by various industries for the measurement

of flow rate and velocity, especially in sewage plants and chemical processing. At the same time, the low-flow magnetic flowmeter is used for fluids that need to be accurately measured in industries requiring precise measurements of low flow rates, such as pharmaceuticals, laboratories, and some specialized industrial processes. And the insertion of magnetic flowmeters is used in large pipes, where the installation of an in-line magnetic flowmeter can be difficult.

By Application:

• Water and Wastewater
• Chemicals and Petrochemicals
• Power Generation
• Metals and Minin
• Oil and Gas
• Food and Beverage
• Pulp and Paper
• Pharmaceuticals

Based on the application, water distribution and wastewater treatment accounted for the highest share of the electromagnetic flowmeter market since electromagnetic flow ensures high accuracy, reliability, and capability to measure a wide range of conductive fluids effectively. Water and wastewater treatment plants have corrosive and abrasive fluids, such as chemicals, sludge, and sand, which can be detrimental to other flowmeter types. Hence, the help of electromagnetic flowmeters, due to their non-intrusive design with no moving parts, has higher

durability and reliability in such applications. This feature made them the preferred choice for accurately measuring flow rates in the water and wastewater treatment processes. Which directly increased the market size. Chemicals and petrochemicals have the fastest-growing rate due to the increase in the number of petrochemical and chemical industries around the globe. Also, chemical industries require accurate measurement of flow rate due to the precise addition of additives in the flowing liquid. This causes the demand for electromagnetic flowmeters in the chemical and petroleum industry.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based the region, the North American region held the largest market share and generated the maximum revenue in Electromagnetic Flowmeter Market. This dominance was attributed to its well-developed industrial sectors and stringent regulations governing flow rate measurement. Asia-Pacific region has the fastest growth rate during the forecast period. Countries like China, India, and Japan have experienced significant growth, driven by the rising demand for precise flow measurement across industries such as water and wastewater treatment, oil and gas, and chemical processing. Europe is forecasted to have significant growth in the electromagnetic flowmeter market due to growing industries such as pharmaceuticals and petroleum. Latin America has steady market demand and will witness to have significant growth as the economy is boosted. Middle East and Africa have a low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Electromagnetic Flowmeter Market are

• Emerson Electric Corporation
• Honeywell International Inc,
• Endress+Hausar AG
• Azbil Corporation
• KROHNE Messtechnik GmbH
• ABB Ltd, Siemens AG
• OMEGA Engineering Inc.
• (Spectris PLC)
• Toshiba Corporation