MAINLY PRODUCES FLOW METERS
Rationale for Study The World Market for Magnetic Flowmeters, 7th Editionbuilds on two decades of research. Flow Research published our first magnetic flowmeter study in 2001 and the 6th edition in November 2017. We also follow the magneticflowmetermarketregularlywhen providing updates in our study covering all flowmeters, Volume X: The World Market for Flowmeters, and in our quarterly publication, Market Barometer (www.worldflow.com).
In conducting this study, we first contacted all known manufacturers of magnetic flowmeters worldwide to assemble a picture of the total magnetic flowmeter market. We asked these suppliers to provide detailed information about geographic segmentation, industries sold into, types of magmeters sold, and many other product segments. As a result, this study identifies where growth is occurring in the market, and the underlying factors driving that growth.
Operating Principle Magnetic flowmeters use Faraday’s law of electromagnetic induction: A conductive medium passing through a magnetic field generates a voltage that is directly proportional to 1) the velocity of the conductive medium, 2) the density of the magnetic field, and 3) the length of the conductor. In Faraday’s law, these three values are multiplied together, along with a constant, to yield the magnitude of the voltage. Magnetic flowmeters use wire coils mounted within or outside of the meter body. A current applied to these coils generates a magnetic field. As the conductive liquid passes through the meter body, it generates a voltage that is detected by the electrodes mounted on either side of the meter body. The flowmeter computes the flowrate from this value. Magmeters are highly accurate and do not create pressure drop. Their main limitation is that they cannot measure hydrocarbons (which are nonconductive), and thus are not widely used in the Oil & Gas or Refining industries.
When analyzing target markets, Flow Research uses the perspective of all four segments: manufacturer, distributor, representative, and end-user. We maintain regular communication with all three of these groups in order to be best positioned to note both subtle and significant shifts in technologies or buying patterns.