Flowmeters - Magnetic

The Magnetic Flowmeters market research study delivers current market analysis plus a five year market and technology forecast.   The report also takes a closer look at upcoming market and technology trends related to magnetic flowmeters.  It is available in multiple editions including worldwide, all regions, and most major countries.

Water & Wastewater Industry to Lead the Magnetic Flowmeters Market

Magnetic flowmeters come exceedingly close to being an ideal flowmeter for liquid applications and have tremendous potential to gain market share in process industries, especially the water & wastewater and chemical industries.

Whether liquids are clean, dirty, or viscous, magnetic flowmeters can measure them all, from high flow rates to a trickle, as long as the liquid is conductive.  These flowmeters are the preferred technology for many applications in the process industry and remain competitive in the general-purpose and special-construction segments.

Magnetic flowmeters face increasing competition from ultrasonic and, to some degree, Coriolis meters.  The aggressive pricing and new low-cost versions of these other flowmeter technologies pose a formidable challenge.  Despite the competition and the fact that it is a mature technology, the market for electromagnetic flowmeters has seen considerable growth in the past few years, largely driven by increased demand in the water & wastewater sector.

Industry segments such as chemical, food & beverage, pulp & paper, and oil & gas also play a vital role in the growth of the magnetic flowmeter market. 
Suppliers are building superior features in their devices and enhancing their diagnostic capabilities. Through this report, suppliers can also learn how competitors are forming new areas of collaboration with users by leveraging emerging technologies such as Industrial Internet of Things, Ethernet, advanced networking, and industry standards. 

Magnetic Flowmeters Strategic Issues

In addition to providing a five-year market forecast, the Magnetic Flowmeter Market Research Report provides detailed quantitative current market data and addresses key strategic issues as follows:

Digitize Water Management    

By 2030, demand for fresh water is projected to outpace supply by almost 40 percent. Water utilities are being challenged to operate more efficiently, lower operating costs, and enhance customer satisfaction. Water scarcity has become a universal issue and reducing water usage has reached critical mass at utilities worldwide. This is particularly true in arid regions that rely on costly desalinated water as their primary source of potable water. Manufacturers and suppliers can help address the threat of this water shortage by minimizing water consumption and wastage – not only to increase their efficiency and reduce costs but also to help reduce the environmental and social impact of water wastage.

Accessing data from field devices is one of the main ways of dealing with the above issues. IoT and data analytics can enable this and drive change from two directions: gathering and analyzing data to improve production processes and then using the aggregated data to create solutions with a good business value proposition. Using IoT platform and the Cloud, users can connect to thousands of sensors in facilities worldwide. This way they can monitor, collect, and analyze real-time water usage data; improve efficiency; and reduce water, energy, and operational costs.

Ethernet Connectivity for Greater Process Insight    

Ethernet connection is generating a lot of interest in both the user and supplier communities. Ethernet offers many benefits such as lower total cost of ownership (TCO), improved adaptability, better security, widespread availability, and market familiarity. It offers improved connectivity and functionality, allowing for easier access to measurement information.

In recent years, the networking technology has also overcome many of its disadvantages that hindered adoption in the industrial world. Using fiber-optic cables, Ethernet can be deployed for longer distances. Ethernet switches for hazardous areas are available and users also have the option of Power over Ethernet (PoE), so there is no need to run additional lines for power supply. In the process world, Ethernet can now connect a wide range of field instruments, including flowmeters, to the central control system.

Suppliers are now offering Ethernet modules to allow easy integration of their flowmeters into Ethernet/IP control systems. Several suppliers are also offering native Ethernet connectivity with Ethernet ports directly integrated in the device, with no need for extra converters or adapters. The Ethernet connection aids easy configuration, monitoring, and maintenance. Users can use web servers to remotely view device data, conduct diagnostics, and configure the flowmeter. As owner-operators strive to simplify operations and achieve higher efficiency, ARC sees rising adoption of Industrial Ethernet.

Utilize Asset Management Features    

Plant asset management (PAM) has become an important tool in helping users assess the health of their production assets and processes, and it is instrumental in developing effective predictive maintenance programs and achieving operational excellence. A key enabler of PAM is intelligent field devices with diagnostic capabilities. Although a large number of intelligent field devices have been installed in plants around the world, they are often underutilized. In many cases, the onboard intelligence is only accessed locally via a handheld communicator when a device is commissioned. End users should provide training, education, and support programs to plant staff to realize the benefits that smart field devices offer. End users should work with suppliers to get clear demonstrations of how embedded device diagnostics can help them assess not only the condition of the device but also the condition of the process.