Product category:
Conventional Industrial Liquid flowmeters
News Release from: ARC Advisory Group | Subject: Magflo market
Edited by the Processingtalk Editorial
Team on 28 February 2007
Forecasts for future sales of magnetic
flowmeters
The worldwide market for magnetic flowmeters has currently accelerated to USD730 Million, thanks to rising automation and high demand from the water industry
The worldwide market for magnetic flowmeters is expected to grow at a compounded annual growth rate (CAGR) of 3.5% over the next five years The market was USD730.4 million in 2006 and is forecasted to be nearly USD866 million in 2011, according to a new ARC Advisory Group study
This article was originally published on Processingtalk on 21 Nov 2003 at 8.00am (UK)
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The market for magnetic flowmeters has seen considerable growth in recent years, due to an upbeat automation market and an increased demand in the water and wastewater treatment sectors.
"Despite being a mature technology, magnetic flowmeters are holding their own against other flowmeter technologies.
They are a cost-effective alternative to ultrasonic and Coriolis meters, and they continue to be the preferred technology for many flow measurement applications," according to Automation Analyst Allen Avery, the principal author of the ARC "Magnetic Flowmeter Worldwide Outlook".
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Increased demand in the water and wastewater sectors, which make up more than a third of the overall market, helped suppliers grow revenues at higher than expected rates.
Shipments for water and waste applications grew significantly in the last few years.
Going forward, the water and wastewater industry will continue to provide magmeter suppliers with the strongest opportunities for growth, as developing countries build capacity, and developed nations repair or rebuild their ageing water infrastructures.
Magnetic flowmeters face competition from Coriolis and ultrasonic meters.
The aggressive pricing of these other flowmeter technologies poses a formidable challenge, and both meter types have made significant inroads in the overall flow market.
Coriolis meters compete head to head with magmeters at small-diameter pipe sizes, while ultrasonic meters offer a compelling alternative to magnetic meters at medium and large pipe diameters.
In spite of this, magnetic flowmeters are still the technology of choice for many applications, and remain competitive in many applications because of the simplicity of their design and a lower average selling price compared to ultrasonic and Coriolis meters.
China offers the strongest growth opportunities for magnetic flowmeter suppliers, as it works to satisfy the increasing demand for necessities, such as power and water.
Over the next decades, the country will make significant investments in its water and wastewater infrastructure to stave off water scarcity, and it will continue to build power plants to satisfy the needs of its growing economy.
Demand increases in developed regions, such as North America and Europe, will be more modest, and suppliers can expect to see more replacement business than Greenfield projects.
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