According to a new market research report “Magnetic Flowmeter Market by Type (In-Line, Insertion, Low Flow), Component (Flow Tube, Sensing Electrodes), Application (Water & Wastewater, Food & Beverages, Chemicals, Pulp & Paper), and Geography – Global Trends & Forecasts from 2014 to 2020” the total market was valued at a market size of $1,395.38 in 2013 and is expected to reach 1,916.94 million by 2020, at an estimated CAGR of 4.58 percent from 2014 to 2020.
The magnetic flowmeters help in the detection of flaws and impurities in accordance with certain standard norms. This market, at present, is witnessing a spree of mergers, partnerships, and acquisitions among the market players, which is resulting in a wide range of challenges and opportunities.
The various types of the magnetic flowmeters are the in-line, insertion and low flow magnetic flowmeters. Whereas the applications of the magnetic flowmeters are water & wastewater, oil & gas, food & beverages, chemicals, energy generation, metals & mining, pulp & paper, pharmaceuticals, and so on. The report covers geographic regions which include North America, Europe, Asia-Pacific and the Rest of the World (RoW). APAC is the largest geography in terms of market size for the magnetic flowmeter market. North America, Europe, and RoW are also considered to be the promising markets, along with the US, Mexico, Germany and the Middle East, which provide impetus to the growth.
The report profiles the promising major players with SWOT analysis of these key players in the magnetic flowmeter market. The competitive landscape of the market presents an interesting picture, where a large number of small players have become a force to calculate with. The market is witnessing a series of new product launch announcements and partnerships across the value chain.
The report also discusses the future of the global market with the road-maps, upcoming technologies, submarkets, and applications with respect to the magnetic flowmeter market. The major companies operating in this market are Emerson Electric Co. (US), Endress+Hauser AG (Germany), ABB Ltd. (Switzerland), and Krohne Messtechnik GmbH (Germany) among others.