Global Magnetic Flow Meter sales generated revenues worth USD 2.6 billion in 2022. From 2022 to 2032, global demand for magnetic flow meters will increase at 6.6% CAGR. The worldwide market for magnetic flow meters will cross a valuation of USD 5 billion by 2032.
The global magnetic flow meter market value reached USD 2.5 billion at the end of 2021. Adoption of magnetic flow meters will remain high in water & wastewater treatment. The target segment will thrive at around 6.0% CAGR from 2022 to 2032.
Key Market Shaping Factors
A type of transducer used for measuring fluid flow is called magnetic flow meter. Magnetic flow meters are also referred to as mag flow meters or magmeters. They work on Faraday’s Law of Electromagnetic Induction.
By using a magnetic field and electrodes, these volumetric flow meters measure the flow of electrically conductive fluids/liquids such as water.
Magnetic flow meters are gaining wider popularity across various industries. These meters significantly reduce maintenance and replacement costs. This is because they do not have any moving parts. They are also inexpensive.
Mag flow meters can measure water flow in closed conduits as well as mixed media such as sludge and slurries. They come in different sizes, pressure ratings, accuracy classes, velocity ranges, and temperatures. Depending on the model and application.
Magnetic flow meters are ideal for water & wastewater, municipal, agriculture, industrial, and oil & gas applications. This is because the accuracy and consistency of these meters remain unaffected by pressure, temperature, and liquid density.
Growing usage of magnetic flow meters for measuring the flow rate of dirty liquids and conductive fluids across various industries will drive the global market.
Mag flow meters have become essential devices in water & wastewater treatment applications. They are being increasingly installed across water & wastewater treatment plants to measure treated and untreated sewage, water, and chemicals. They allow end users to use non-invasive methods for measuring and calculating fluid movement.
Magmeters are also gaining traction for slurry measurement. Due to presence of various suspended particles and their abrasive nature, measuring slurries is an extremely difficult and challenging task. For this purpose, companies use specially designed magnetic flow meters.
Similarly, chemical sector depends on magnetic flow meters to provide accurate and precise measurements of product flow.
Magnetic flow meters are also used in the pharmaceutical industry for the careful handling of raw materials as well as ensuring the right amount of ingredients is being mixed for the manufacturing of drugs.
Hence, expansion of industries such as water & wastewater, chemical, mining, and pharmaceutical will elevate magnetic flow meter demand through 2032.
Key magnetic flow meter manufacturers are introducing new products with enhanced features to gain profits.
For instance, in September 2022 new OpreX Magnetic Flowmeter CA Series was launched by Yokogawa Electric Corporation. The new series features new functions that enhance user-friendliness and operational efficiency.
| Attributes | Key Insights |
|---|---|
| Magnetic Flow Meter Market Size in 2022 | USD 2.6 billion |
| Projected Market Size (2032) | USD 5 billion |
| Value-based CAGR (2022 to 2032) | 6.6% |
| USA Market CAGR (2022 to 2032) | 5.5% |
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Global sales of magnetic flow meters increased at 4.3% CAGR from 2017 to 2021. Total market valuation reached USD 2.5 billion at the end of 2021. Between 2022 and 2032, the worldwide market will exhibit a CAGR of 6.6%, creating an absolute $ opportunity of USD 2.4 billion.
Magnetic flow meters are used to measure the flow rate of conductive fluids in a wide range of industries. This includes water & wastewater, chemical, food & beverage, pharmaceutical, and pulp & paper.
Growth in the market will be driven by factors, such as the growing demand for accurate and reliable flow measurement devices. Magnetic flowmeters are extremely reliable and accurate for measurements which makes them an increasingly popular choice for process control applications in various industries.
Environmental regulations and standards are becoming increasingly strict, as governments worldwide are trying to reduce pollution levels in their countries.
This in turn is creating need for accurate measurement and monitoring of fluid flow in various applications such as waste produced by industries. Magnetic flowmeters provide a reliable solution to comply with these regulations.
Magnetic flow meters are also used for the measurement of mining slurry in the mining industry. Mining slurry is produced as a result of the removal of the minerals as a by-product.
Magnetic meters are used in the mining industry as they can measure the flow of liquids regardless of their viscosity and density, therefore, allowing the miners to control the flow and amount of slurry.
Global coal production increased to around 8.3 billion tonnes in 2022. With rising demand for coal from various industries, the production of coal is likely to increase. This in turn will elevate magnetic flow meter demand.
Magnetic flowmeters are also widely used in water & wastewater treatment applications. This is because they are highly accurate, and reliable, and can measure the flow rate of conductive fluids, including water, with high precision.
Magnetic flowmeters are employed to measure the flow rate of chemicals used in the treatment process such as wastewater treatment, for coagulants and flocculants, to ensure that the correct amount is added for optimal treatment efficiency.
Rapid expansion of various industries that require flow measurement devices, such as chemicals, water and wastewater, and food and beverage, will create revenue-generation opportunities for magnetic flow meter manufacturers.
Asia Pacific to Create Lucrative Opportunities for the Expansion of the Magnetic Flow Meter Industry
Asia Pacific magnetic flow meter market size is set to increase from USD 1.27 billion in 2022 to USD 2.42 billion by 2032. Overall sales of magnetic flow meters in Asia Pacific market will rise at a healthy pace through 2032.
This growth is driven by several factors, including the increasing demand for magnetic flowmeters from industries such as water & wastewater, chemical, and pharmaceutical in emerging economies such as China and India.
Increasing adoption of automation technologies in these industries is another key factor driving Asia Pacific market.
Asia Pacific has a large and growing population, which is driving demand for water and wastewater treatment infrastructure. This, in turn, is likely to increase demand for magnetic flowmeters, which are widely used to measure and monitor the flow of water and wastewater.
Growing demand for accurate and reliable flow measurement devices from the oil & gas, chemical, and water & wastewater industries will bode well for the market.
Asia Pacific is a significant chemicals manufacturing region accounting for around 45% of global chemical production and contributing around 7% of global GDP. Magnetic flowmeters are widely utilized in the chemical industry to measure the flow of the product as well as play a crucial role in safety as any miscalculation can cause catastrophic effects.
Therefore, expansion of chemical industry across Asia Pacific will fuel demand for magnetic flow meters market during the assessment period.
Principal Consultant
| Country | United States |
|---|---|
| Projected CAGR (2022 to 2032) | 5.5% |
| Historical CAGR (2017 to 2021) | 1.3% |
| Market Value (2032) | USD 788.8 million |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2022 to 2032) | 5.1% |
| Historical CAGR (2017 to 2021) | 1.2% |
| Market Value (2032) | USD 127.7 million |
| Country | China |
|---|---|
| Projected CAGR (2022 to 2032) | 8.1% |
| Historical CAGR (2017 to 2021) | 6.3% |
| Market Value (2032) | USD 1.3 billion |
| Country | Japan |
|---|---|
| Projected CAGR (2022 to 2032) | 6.9% |
| Historical CAGR (2017 to 2021) | 4.5% |
| Market Value (2032) | USD 776.0 million |
| Country | South Korea |
|---|---|
| Projected CAGR (2022 to 2032) | 7.1% |
| Historical CAGR (2017 to 2021) | 5.7% |
| Market Value (2032) | USD 303.1 million |
Expansion of Water Treatment Infrastructure Elevating Magnetic Flow Meter Demand in the USA
The United States magnetic flow meter market is forecast to reach a valuation of USD 788.8 million in 2032. It will create an absolute $ growth of USD 325.2 million from 2022 to 2032.
Magnetic flow meter sales in the United States grew at a sluggish CAGR of 1.3% from 2017 to 2021. Over the projection period, magnetic flow meter demand in the country will rise at 5.5% CAGR.
Rise in water treatment plants is a key factor driving demand for magnetic flow meters in the USA market.
The United States has around 153,000 public drinking systems and around 16,000 wastewater treatment plants. About 80% of the USA population receives their potable water from these water systems and around 75% of the population has their sanitary needs fulfilled by these 16000 plants.
With rising investments in water treatment infrastructure, demand for magnetic flow meters will increase across the USA during the assessment period. This is because magnetic flow meters are used in water treatment for calculating the number of chemicals used for the treatment process to ensure the correct amount is added for efficient treatment.
Growing Usage of Magnetic Flow Meters in Gas Stations Boosting the United Kingdom Market
The United Kingdom magmeter market expanded at 1.2% CAGR from 2017 to 2021. Total magnetic flow meter sales in the country are likely to surge at 5.1% CAGR between 2022 and 2032. This will help the market to reach a valuation of USD 127.7 million by 2032.
Rising adoption of magnetic flow meters across gas stations is a key factor driving the United Kingdom market.
The United Kingdom had around 8365 gas stations in 2022. This number is likely to further increase and will create high demand for magnetic flow meters.
Magnetic flow meters are used at the gas stations to measure the amount of fuel being pumped which is utilized to bill the customer. With rising number of fuel stations in the country, demand for magnetic flowmeters will increase significantly during the assessment period.
Rising Mining Activities Propelling Magnetic Flow Meter Demand in China
China magnetic flow meter market is expected to surpass a valuation of USD 1.3 billion by 2032. Historically, from 2017 to 2021, magnetic flow meter demand in China increase at 6.3% CAGR.
Between 2022 and 2032, magnetic flow sales in China will rise at a CAGR of 8.1%. This will create an absolute $ opportunity of USD 680.6 million. Rising usage of magnetic flow meters during mining activities will drive China market forward.
China is a leading producer of coal in the world with 3.8 billion tonnes produced in 2020. By 2025, coal production in China will reach around 4.6 billion tonnes.
Coal mining produces slurry as one of the by-products and magnetic flowmeters are used to measure the amount of slurry and to regulate it during the mining process. Hence, increasing mining activities in the country will elevate demand for magnetic flow meters.
Increasing Number of Water Treatment Plants to Fuel Magnetic Flow Meter Sales in Japan
Japan magnetic flow meter market is set to exhibit a CAGR of 6.9% between 2022 and 2032, in comparison to 4.5% registered from 2017 to 2021. Total market valuation in the country will reach USD 776 million by the end of 2032.
Rising number of water treatment plants in Japan is driving magnetic flow meter demand. There are around 1100 water treatment plants in Japan that treat the sewage in the country.
As magnetic flow meters are used to measure the number of chemicals being added to treat the wastewater for optimal treatment, demand for magnetic flow meters in the country will increase at a steady pace.
Inline Magnetic Flow Meters to Remain Top Selling Product Type Category
Based on product type, demand will continue to remain high for in-line magnetic flow meters. Historically, from 2017 to 2021, inline magnetic flowmeter sales grew at 4.2% CAGR. Over the next decade, the target segment will progress at 6.3% CAGR.
Inline magnetic flowmeters are widely used in various industries for measuring the flow rate of conductive fluids. This includes water and wastewater, chemical, food and beverage, and pharmaceutical.
In-line magnetic flow meters offer several advantages, such as high accuracy, reliability, and durability. This makes them ideal for critical process control applications. These flow meters can measure the average speed of the entire pipe section where they are installed.
Hence, demand for inline magnetic flowmeters will be driven by their ability to provide accurate and reliable measurements in large-diameter pipelines.
Further, technological advancements in inline magnetic flow meters, such as the development of smart inline magnetic flowmeters equipped with wireless communication and self-diagnostic capabilities will boost segment growth.
Water & Wastewater to Remain the Most Lucrative Application Through 2032
Based on application, adoption of magnetic flow meters will remain high in water & wastewater applications. As per Future Market Insights, magnetic flow meter demand from water & wastewater sector grew at 4.1% CAGR from 2017 to 2021.
Between 2022 and 2032, the water & wastewater segment is set to expand at 6.0% CAGR. This is due to rising importance of magnetic flow meters in water and wastewater treatment plants.
The water and wastewater application of magnetic flowmeters is driven by several factors. This includes the growing demand for accurate and reliable flow measurement devices to optimize water treatment processes.
Similarly, need for complying with environmental regulations and maintaining high-quality water standards will fuel magnetic flow demand.
Further, expansion of water treatment plants and wastewater treatment plants will fuel magnetic flow meter sales. Growing popularity of smart flow meters in water & wastewater treatment plants will further boost growth of the target segment.
Smart flowmeters offer several advantages, such as real-time monitoring, remote diagnostics, and reduced maintenance costs. This makes them an ideal solution for water and wastewater treatment processes.
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Leading manufacturers of magnetic flow meters include Siemens AG, Azbil Corporation, General Electric, Endress+Hauser AG, ABB Ltd, OMEGA Engineering, Inc., Emerson Electric Corporation, KROHNE Messtechnik GmbH, Honeywell International Inc., and Yokogawa Electric Corporation.
These players are focused on developing new products that can perform well even in extreme environments. They are also utilizing strategies such as partnerships, collaborations, mergers, and acquisitions to expand their presence.
Recent developments
| Attribute | Details |
|---|---|
| Current Market Size (2022) | USD 2.6 billion |
| Projected Market Size (2032) | USD 5.0 billion |
| Anticipated Growth Rate (2022 to 2032) | 6.6% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Segments Covered | Product Type, Components, Technology, Application, and Region |
| Key Companies Profiled | ABB Ltd; Azbil Corporation; Endress+Hauser AG; Emerson Electric Corporation; General Electric; Honeywell International Inc.; KROHNE Messtechnik GmbH; OMEGA Engineering, Inc.; Yokogawa Electric Corporation; Siemens AG |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
By 2032, the market is anticipated to reach a value of USD 5 billion.
Through 2032, the market is going to experience a 6.6% CAGR.
Market exhibited a 4.3% HCAGR between 2017 and 2021.
The United States magnetic flow meter market records a CAGR of 5.5%.
With a CAGR of 6.3%, the inline magnetic flowmeter market is anticipated to advance.
1. Executive Summary | Magnetic Flow Meter Market
2. Market Overview
3. Market Background
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
5.1. In-line Magnetic Flow Meter
5.2. Insertion Magnetic Flow Meter
5.3. Low Magnetic Flow Meter
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Components
6.1. Magnetic Coil
6.2. Transmitter
6.3. Sensing Electrode
6.4. Non-magnetic Flow Tube
6.5. Others
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology
7.1. Hart
7.2. Profibus
7.3. Modbus
7.4. Fieldbus
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
8.1. Water & Wastewater Treatment
8.2. Chemicals
8.3. Oil & Gas
8.4. Food & Beverage
8.5. Pharmaceutical
8.6. Agriculture
8.7. Metal & Mining
8.8. Others
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
9.1. North America
9.2. Latin America
9.3. Europe
9.4. Asia Pacific
9.5. Middle East & Africa
10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
15. Key Countries Market Analysis
16. Market Structure Analysis
17. Competition Analysis
17.1. ABB Ltd
17.2. Azbil Corporation
17.3. Endress+Hauser AG
17.4. Emerson Electric Corporation
17.5. General Electric
17.6. Honeywell International Inc.
17.7. KROHNE Messtechnik GmbH
17.8. OMEGA Engineering, Inc.
17.9. Yokogawa Electric Corporation
17.10. Siemens AG
18. Assumptions & Acronyms Used
19. Research Methodology
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Magnetic Flow Meter Market
