Magnetic Flowmeters Now the Largest Market in terms of Revenues

Flow Research has just completed a study of the worldwide flowmeter market. One of our findings is that magnetic flowmeters generate more revenues worldwide than any other type of flowmeter. The story is somewhat different in terms of units, however. More differential pressure and variable area flowmeters are sold annually than magnetic flowmeters. Despite this, the higher average selling price of magnetic flowmeters enables them to generate more revenues annually than these other types of meters.
Magmeters, as they are often called, are highly accurate and do not create pressure drop. Their initial purchase cost is medium to high, depending on size. While their price is generally higher than DP flowmeters, most are priced lower than equivalent Coriolis meters.

The magnetic flowmeter market has grown significantly in the past four years

The magnetic flowmeter market has shown very strong growth in the past four years. There are a number of reasons for this. One is that the top three suppliers, Endress+Hauser, KROHNE, and ABB, have all shown substantial growth since our last study was published in 2009. The second-tier companies also grew significantly. 

A steady stream of new products has kept the magnetic flowmeter market vibrant with growth. The development of insertion meters gives more options to end-users who may hesitate to pay the high prices for large line size magnetic flowmeters. Suppliers have brought out a wide variety of liners to handle sanitary and caustic liquids. Advanced diagnostics are making magmeters both more intelligent and more reliable.

Magnetic flowmeters have many advantages that help account for their role as the leading revenue-generating flowmeter. They are non-intrusive and do not cause pressure drop. They are available in a wide range of sizes from less than 1/8 inch to over 100 inches. Liner flexibility makes them adaptable to a wide range of liquids. Magnetic flowmeters are highly accurate, and can be used for custody transfer applications. Insertion flowmeters have been developed that enable them to measure liquids in large line sizes at lower costs. Magnetic flowmeters do not have moving parts, and provide a highly stable measurement.

Suppliers bringing out new products

While the magnetic flowmeter market is a mature and stable one, there are some new product developments in the magmeter market, and these new developments favor continued growth. One recent development is the advent of two-wire magnetic flowmeters. Four wire meters have a dedicated power supply. Two wire meters use the power available from the loop-power supply. This reduces wiring costs, and can result in lower installation costs. These meters are becoming more popular with users, due to the cost savings involved. While two-wire meters still represent only a small percentage of the total magnetic flowmeters sold, their use grew significantly from 2008 to 2013.

Another important development is growth in battery operated and wireless magnetic flowmeters. Battery operated meters make it possible to install magmeters in hard to reach places. And wireless meters can transmit a receivable signal where the use of wires is impractical. Both of these segments represent fast-growing areas of the magnetic flowmeter market.

Expect to see continued growth in this market, especially as water measurement becomes more critical in many areas. Even though oil and gas measurement is getting much of the attention these days, magnetic flowmeters will continue to be a vitally important part of the total flowmeter picture. 

For more details on our new magnetic flowmeter study, please go to www.flowmags.com. 

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