Magnetic flowmeter market is growing fast, study finds
Worldwide magnetic flowmeter market equaled $710 million in 2004, a market study from Flow Research shows. Global market for magnetic flowmeters, 3rdedition puts revenues from the sale of magnetic flowmeters at $910 million by 2009, increasing at a compound annual growth rate (CAGR) of 5.1%. Europe accounts for 41% of the 2004 revenue total; North American accounts for just over 21%. Fastest growth is expected in “Asia without Japan” and the “rest of the world” regions.
According to the report, magnetic flowmeters are displacing traditional technology meters in many applications, including differential pressure (DP), positive displacement, and turbine meters. Unlike positive displacement and turbine meters, magnetic flowmeters do not have moving parts that are subject to wear over time; and unlike DP devices, they do not use a primary element to cause a constriction in the flowstream.
Customers are taking advantage of technological improvements made to magnetic flowmeters in the past few years, said Jesse Yoder, president of Flow Research. “In addition,” noted Yoder, “more companies are now offering insertion meters, which enable magnetic flowmeters to measure flow in large pipes.”
The primary limitation of magnetic devices, notes the study, is their inability to measure the flow of nonconductive fluids. Although some progress has been made to allow these devices to operate in liquids with very low conductivity values, they remain unable to measure gas or steam flows.
—Jeanine Katzel, senior editor, Control Engineering, email@example.com