Global Magnetic Flowmeter Market Size,Share, Growth Analysis, By Application (Metal & Mining, Chemicals), By Type (electric, solar and battery-powered) - Industry Forecast 2023-2030
GlobalMagneticFlowmeterMarketInsights
Global Magnetic Flowmeter Market size was valued at USD 8.5 billion in 2021 and is poised to grow from USD 8.87 billion in 2022 to USD 13.6 billion by2030,growingataCAGRof5.7%intheforecastperiod(2023-2030).
The market is anticipated to increase over the course of the forecast period as a result of the rising demand for flow rate measurement in O&G managementapplicationsworldwide.Overtheprojectionperiod,additional industrieslikewaterandwastewater,powergeneration,andpulpandpaper will also start to utilize measurement technology and instruments more widely.
Due to the recent discovery of shale gas deposits in North America, Europe, and the Asia Pacific, the adoption of goods would be particularly significant in the oil and gas, chemical, and petroleum refinery industries. As smart measurement solutions have been introduced as a result of IoT integration,
it is anticipated that demand for intelligent systems would rise in the near future. Because of the Coriolis flowmeter's improved smart capabilities to measure the rate more precisely, it is predicted that demand for them will rise.
The market's participants are actively investing in order to deliver cuttingedge products and solutions to measure the flow rate of liquids, gases, and vapours. They are mostly focusing on the oil and gas industry. Additionally, one of the major applications generating fruitful potential for Coriolis and ultrasonic flowmeters is custody transfer in the oil and gas industry. The instrumentsaresimpletomaintain,loweringmaintenancecosts,whichmay be a key growth factor over the forecast period. Water scarcity and rising population in countries such as China and India may result in significant growthinthewater treatmentindustry, openingupnewopportunitiesinthe near future. Several suppliers are incorporating cutting-edge technology into their products, such as an adhesion diagnostic level function that monitors the working condition of electrodes. GetaCompleteOverviewofGlobalMagneticFlowmeterMarket:
https://www.skyquestt.com/report/magnetic-flowmeter-market
MagneticFlowmeterMarketTopPlayer'sCompanyProfiles:
• Emerson Electric Co.
• Siemens AG
• ABB Ltd.
• Honeywell International Inc.
• Yokogawa Electric Corporation
• KROHNE Messtechnik GmbH
• Schneider Electric SE
• Endress+Hauser AG
• Hitachi, Ltd.
• Badger Meter, Inc.
• Dwyer Instruments, Inc.
• SMC Corporation
• Azbil Corporation
• Magnetrol International Incorporated
• Seametrics Inc.
• Omega Engineering, Inc.
• Krohne Ltd
• Flowserve Corporation
• Hedland Flow Meters
• MJK Automation A/S
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