The magnetic flow meter is a device used to determine conductive volumetric or water based flow including paper & pulp, black liquor, and slurries. The magnetic flow meters are also known as mag meters. The magnetic flow meter is specifically designed to quantify the volume or rate of a moving fluid, either gas or liquid, in a closed or open channel. It is also used for determination of impurities and flaws in the fluid which is expected to create opportunities for magnetic flow meter market growth during the coming years.
Furthermore, development of updated parameters to be applied during the determination of impurities is prompting magnetic flow meter manufacturers to develop advanced and better magnetic flow meter devices. The newly introduced parameters are potentially contributing to the growth of the magnetic flow meter market.
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Increase in the demand of flow meter equipment for measuring volume, mass, nonlinear & linear flow rate in the gas & oil sector is estimated to be a key parameter for the growth of magnetic flow meter market across the globe. Moreover, ease of installation and cost efficiency may also propel demand for the magnetic flow meter. Besides the aforementioned push factors, advanced capabilities of magnetic flow meter are continuously propelling the growth of the magnetic flow meter market.
Global Magnetic Flow Meter Market: Segmentation
The global magnetic flow meter market has been segmented on the basis of product type, application type, and region.
The global magnetic flow meter market has been segmented on the basis of product type:
- Low Flow Magnetic Flow Meters
- Insertion Magnetic Flow Meters
- Inline Magnetic Flow Meters
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The global magnetic flow meter market has been segmented on the basis of application type:
- Chemical & Petrochemical
- Metal & Mining
- Pharmaceutical
- Food & Beverage
- Water & Wastewater
- Oil & Gas
- Power Generation
- Pulp & Paper
- Others
Global Magnetic Flow Meter Market: Competitive Landscape
The key manufacturers in the global magnetic flow meter market are currently focusing on strategic partnerships and acquisitions. They are also engaged in the development of technologically improved and enhanced magnetic flow meters, delivering improved performance.
- For example, in 2018, Emerson Electric Corporation, the US-based giant in the automation solutions and technology space, announced acquisition of Advanced Engineering Valves (A.E. Valves), a leading manufacturer of innovative valve technology that helps LNG customers operate more efficiently. The transaction will enable former to provide its customers with the world’s broadest portfolio of valves to improve process performance and reliability.
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Some of the prominent players in the global magnetic flow meter market are Azbil Corporation, Yokogawa Electric Corporation, General Electric Co, Endress+Hausar AG, Siemens AG, Emerson Electric Corporation, ABB Ltd, Omega Engineering Inc., Krohne Messtechnik GmbH, and Honeywell international Inc.