The demand within the electromagnetic flow meter market is expanding at the back of improvements in the intrinsic industrial framework. In other words, several industries have revolutionized their approach towards operations and manufacturing. Industry decision-makers have laid utmost value on the need for installing cutting-edge equipment and devices within the manufacturing framework. Hence, the use of electromagnetic flow meters has increased across multiple industries. As manufacturing units become more measured in their approach, the demand for meters and gauges is slated to rise. The demand for electromagnetic flow meters shall especially remain high due to the advanced mechanism of these devices.
McCrometer, Inc. recently launched a new mag meter called ‘ProComm’. The meter is capable of conducting advanced flow measurement operations, and could benefit a range of manufacturers in multiple industries.
Transparency Market Research (TMR) tabulates the projected CAGR of the global electromagnetic flow meter market to be 6% over the period between 2019 and 2027. Furthermore, the global value of this market is expected to touch US$ 1.4 billion by 2019. The use of electromagnetic flow meter in the agricultural sector has increased by dramatic bounds.
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Prominence of Mining and Exploration Activities to Aid Market Growth
Investments in mining and exploration are a recurring trend across multiple regions. The viability of a mining site convinces stakeholders to put their money in field projects and operations. The most prominent use of electromagnetic flow meter spans into the mining, oil, and gas industries. Hence, the growth of mining activities shall drive demand within the global electromagnetic flow meter market. Furthermore, the buzz around wastewater treatment has also generated tremendous demand within the global electromagnetic flow meter market. The food and beverages industry has also increased its usage of flow measurement technologies. This factor, coupled with the trust of techies in electromagnetic technologies, shall aid market growth in the years to follow.
Utility of Electromagnetic Meters to Compensate for their High-Power Consumption
Several market experts argue that the large amount of power consumed by electromagnetic flow meters makes them a burden for the end-users. However, the utility served by these devices outruns the pitfalls of high-power consumption. Availability of a diverse range of flow meters to cater to the requirements of multiple industries has aided market growth. It is worthwhile to mention that the flow inside low-filled pipes can only be measured with specialised meters including electromagnetic flow meter. Therefore, the total revenues within the global market is set to touch new heights in the years to follow.
With a wide portfolio of applications, the global electromagnetic flow meter market is projected to offer attractive growth prospects to market vendors. The pharmaceutical industry is amongst the most nascent users of electromagnetic flow meter, and this trend shall play to the advantage of market vendors.
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This review is based on TMR’s report titled, “Electromagnetic Flow Meter Market (Installation: Insertion Flow Meters, In-line Flow Meters, and Low Flow Meters; Connection to Power Source: Wired and Battery Operated; Application: Partially-filled Pipes and Fully-filled pipes; and End-Use Industry: Agriculture, Chemicals, Food and Beverages, Metal and Mining, Paper and Pulp, Pharmaceuticals, Water and Wastewater Treatment, and Others)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027).”