The worldwide magnetic flowmeter market equaled $710 million in 2004 and will continue to grow at a compound annual growth rate of 5.1 percent to reach $910 million by 2009, according to a study by Flow Research (www.flowresearch.com). The study, titled The Global Market for Magnetic Flowmeters, 3rd Edition, says Europe accounted for 41 percent of revenue in the magnetic flowmeter market in 2004, while North America accounted for just over 21 percent of revenue.
In many applications, Flow Research says magnetic flowmeters are displacing differential pressure (DP), positive displacement, and turbine meters. Magnetic flowmeters do not have moving parts that are subject to wear over time, which Flow Research cites as one of the key reasons magnetic technology is generating appeal among users of positive displacement and turbine meters. Meanwhile, Flow Research says magnetic flowmeters are gaining interest from users of differential pressure meters because they do not rely on a primary element for flow measurement, thus lessening the occurrence of pressure loss in the flow stream.
According to Flow Research, the primary limitation to growth for magnetic flowmeter technology is the inability to measure the flow of nonconductive fluids, particularly gases and steam.
— Flow Control Staff
