Global Electromagnetic Flow Meter Market Economic Conditions, Acquisitions, Developments and Forecast by 2027

Electromagnetic Flow Meter Market Evolving with the Trend of Miniaturization

Commonly known as magmeters, electromagnetic flow meters are at the forefront of miniaturization of both, electronics and sensors. The need for achieving improved performance and high geometrical stability with electromagnetic flow meter diagnostics is behind this change in the size of flow meters, altogether. With the increasing adoption of compact electronic circuits in various industrial applications, the emerging trend of miniaturization is expected to have a significant influence on the factors shaping the future of the electromagnetic flow meter market in the coming years.

Prior to this, the expanse of the flow meter industry mostly remained stagnant. It simply involved the trends of expansion and updates & refinements of the existing technology. The imminent adoption of smart technology is another major trend that the electromagnetic flow meter industry is banking on, which will enable improved access, communication, and, in the near-future, improved displays attached to electromagnetic flow meters.

In terms of construction, electromagnetic flow meters are flanged and are available with a choice of liner and electrode material. Featuring this, electromagnetic flow meters are free of obstructions in the pipe, thereby expanding scope of the types of liquids that can be measured for their volumetric flow.

Resultantly, industrial applications of electromagnetic flow meters are extensive. For example, measure of the volumetric flow of juices, milk, and industrial water are some applications where electromagnetic flow meters are used in the food industry. This mostly involves clean and conductive liquids. Besides this, electromagnetic flow meters are used for liquids with suspended particles. This includes sewage, chemicals, wastewater, and slurries, which has expanded the range of industrial applications for electromagnetic flow meters.

With such industrial applications, the growth of electromagnetic flow meter market is predicted to be notable in the coming years. Sensing opportunities in this space, Transparency Market Research (TMR) recently published a study on the growth of the electromagnetic flow meter market, which opines that, the market will reach a valuation of ~US$ 1.4 billion in 2019, and will expand at a notable ~6% CAGR during the forecast period of 2019 and 2027.

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Technological Advances Shows New Ways for Wastewater Treatment Applications

Owing to their design and operational features, the scope of applications of electromagnetic flow meters is also vast, including in the water and wastewater treatment, chemical, and agriculture industries, to name a few. Among the key applications, water and wastewater treatment is expected to continue to hold a leading share in the electromagnetic flow meter market in the near term.

Vis-à-vis revenue, the water and wastewater treatment industry accounts for ~one-fourth revenue share of the electromagnetic flow meter market, and its share will continue to rise at a remarkable CAGR over the forecast period. Technological advances in processes of water and wastewater treatment plants are also surging the adoption of electromagnetic flow meters, so much so, that electromagnetic flow meters are now an integral part of process control systems in wastewater treatment plants.

In addition to this, chemicals, pharma, pulp and paper, and food and beverages are some other industrial areas where electromagnetic flow meters find use for industrial control processes. This is because most of these industrial sectors need to measure the flow of liquids in the presence of high levels of solids. This is not easily attained by most flow methodologies.

Scope in Non-conductive Liquids to Fill Up White Spaces for Electromagnetic Flow Meters

Whilst the undercurrents for the measuring of conductive liquids are solid in the electromagnetic flow meter market, there lies vast scope for the measuring of hydrocarbons, distilled water, and non-aqueous solutions for industrial applications. Besides this, the electromagnetic flow meters available are mostly unsuitable for the measuring of compressed liquids, which leaves an immense white space for market players to capitalize on.

Variations in terms of harnessing the capability and results of electromagnetic flow meters further provides ample opportunities for participants in the electromagnetic flow meter market. These variations are due to the type of fluid being measured, corrosive or non-corrosive nature of liquids, and whether the liquid being measured is clean or contaminated.

To address this, the scope for the introduction of innovative electromagnetic flow meters is enormous. R&D efforts leading to product innovation can translate into notable gains for participants in the electromagnetic flow meter market. In addition, Europe will remain the prime revenue pocket for stakeholders, with ~one-third revenue share of the global market for electromagnetic flow meters. The introduction of innovative products with added capabilities for various biopharmaceutical applications is a key reason behind this. However, Asia Pacific is predicted to register a higher growth rate over the forecast period.

Meanwhile, factors such as the placement of flow meters hamper their performance as well. Proximity to mechanical pumps, valve, and other obstructions, as well as the unstable flow of liquids can impact the performance of electromagnetic flow meters.

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