With growing Focus of Enterprises on Technological Advancements, Magnetic Flow Meter Market Likely to Grow at 6% CAGR: TMR
- Magnetic flow meter market is likely to show promising growth and touch the valuation of over US$ 2.7 Bn by 2030 end. This growth is attributed to increased demand for magnetic flow meters from many end-use industries.
- North America is one of the lucrative regions in the magnetic flow meter market.
Nov 19, 2020, 11:30 ET
ALBANY, N.Y., Nov. 19, 2020 /PRNewswire/ -- Major vendors working in the global magnetic flow meter market are focused on the volumetric flow and reducing conductivity. Thus, growth in research activities is projected to boost the expansion of the global magnetic flow meter market during the assessment period of 2020 to 2030. In-line, insertion type, and low flow meter are some of the most popular installation types available at present.
Analysts at TMR note that the global magnetic flow meter market is likely to show growth at a decent CAGR of ~6% during 2020 to 2030. This market growth is attributed to the growing use of magnetic flow meter in numerous industries such as water and wastewater treatment, food and beverages, pharmaceuticals, and chemicals.
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Key Findings of Magnetic Flow Meter Market Report
- The global magnetic flow meter market is foreseen to gather the revenues of over US$ 2.7 Bn by 2030 end.
- Thus, the market is predicted to expand at a promising CAGR of ~6% during the assessment period.
- North America is one of the lucrative regions in the global market for magnetic flow meter.
Explore 199 pages of top-notch research, incisive insights, and detailed country-level projections on Magnetic Flow Meter Market (Installation Type: Insertion Type, Low Flow, and In-line; and End-use Industry: Water & Wastewater Treatment, Chemical, Food & Beverages, Power, Paper & Pulp, Metal & Mining, Pharmaceuticals, Oil & Gas, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/magnetic-flow-meter-market.html
Magnetic Flow Meter Market: Key Driving Factors and Promising Avenues
- The global magnetic flow meter market is anticipated to show upward curve of sales during the assessment period 2020 to 2030. This growth is attributed to plethora of factors. One of the important factors driving market expansion is the ability of these devices to offer high precision for different process conditions.
- Generally, the service life of magnetic flow meters is around 30 years. Thus for end-users, purchasing this device is onetime investment. As a result, these products are gaining traction across a wide range of end-use industries such as chemical, paper and pulp, wastewater treatment, metal and mining, and power. Thus, increased demand from aforementioned sectors is estimated to drive demand opportunities in the global magnetic flow meter market during upcoming period.
- Many industry leaders are focused on incorporation of technological developments in magnetic flow meters. One of such instance is incorporation of wireless connectivity as well as compatibility with smart devices. Apart from this, many players in the global magnetic flow meter market are growing focus on creating miniature products. All these efforts are estimated to work in favor of the growth of this market.
- Magnetic flow meters do not have moving parts and sensors are not immersed in the liquid. This situation minimizes the issues related to wear and tear. At the same time, it makes these products dependable and user-friendly with minimum need for maintenance. All these factors denote that the global magnetic flow meter market will expand at promising pace during the upcoming years.
Analyze global magnetic flow meter market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Magnetic Flow Meter Market: Competitive Assessment
- Major players operating in the global magnetic flow meter market are growing focus toward manufacturing products that are cost-effective. This move is helping them to attract new customer base while maintaining the existing one. Apart from this, several industry leaders are eyeing continuous improvement in their products. This move highlight that the global magnetic flow meter market will expand at decent pace during the assessment period of 2020 to 2030.
- The list of important companies working in the magnetic flow meter market includes Emerson Electric Co., Badger Meter, Inc., General Electric Co., Endress+Hauser AG, KROHNE Messtechnik GmbH, Honeywell International Inc., Omega Engineering Inc., and McCrometer, Inc.
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The magnetic flow meter market can be segmented as follows:
- Insertion Type
- Low Flow Meter
- Food & Beverages
- Metal & Mining
- Paper & Pulp
- Water & Wastewater Treatment
- Oil & Gas
- North America
- Asia Pacific
- South America
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