Frequently Asked Questions
The global electromagnetic flow meters market was valued at USD 1.7 Billion in 2022.
The electromagnetic flow meters market is expected to grow at a CAGR of 6.20% between 2023 and 2030, reaching USD 2.590123896 Billion in 2030.
Low Flow Magnetic Flowmeters is the leading segment by product, holding around more than three-firth of the share in value in 2022.
The power generation governs the demand for electromagnetic flow meters worldwide, holding a massive share of nearly one-third in 2022.
Chemicals and petrochemicals segments are expected to post the highest CAGR during the forecast period.
Europe is fueling the growth of the electromagnetic flow meters industry, with nearly a two-thirds share in 2022.
The top players include ABB Ltd, Azbil Corporation, Endress+Hausar AG, Emerson Electric Corporation, Toshiba Corporation, Honeywell International Inc., KROHNE Messtechnik GmbH, OMEGA Engineering Inc. (Spectris PLC) & Others.
Growing demand for accurate and reliable flow measurement solutions across various industries such as water and wastewater, oil and gas, and chemical processing are the major market drivers.
Huge initial costs associated with electromagnetic flow meters that are typically more expensive compared to other flow measurement technologies are still restraints of the electromagnetic flow meters industry.
Rising adoption of the Industrial Internet of Things (IIoT) and automation in industries is opening avenues for the integration of smart electromagnetic flow meters with digital systems which are opportunities for the electromagnetic flow meters industry.