Global Magnetic Flow Meters Market Size By Product(AC (Alternating Current), and DC (Direct Current)), By Application(Chemical, Pharmaceutical, Food & Beverage, Pulp & Paper), By Geographic Scope And Forecast

Magnetic Flow Meters Market Size And Forecast

Magnetic Flow Meters Market size was valued at USD 8.4 Billion in 2024 and is projected to reach USD 14.11 Billion by 2031, growing at a CAGR of 6.70% during the forecasted period 2024 to 2031.

Rising demand for measuring mass, volume, linear & non-linear flow rate in the oil & gas sector is expected to be a key driver for the global magnetic flowmeter market growth. In addition, cost efficiency and ease of installation may also catapult demand. Advance capabilities with aforementioned factors make the product margin high, making it the largest type of flowmeter market by revenue. Magnetic flowmeters are also referred to as mag meters. The Global Magnetic Flow Meters Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Magnetic Flow Meters Market Definition

A magnetic flow meter is a type of flowmeter used to measure the quantification of bulk fluid movement. It has no moving parts and is suitable for wastewater applications or any conductive or water-based filthy liquid. Mechanical flow measuring equipment have high maintenance costs, low precision, and further requires frequent calibration for distinct kinds of liquids. Magnetic flowmeters assist mechanical measuring systems is overcoming these difficulties.