Investing in the mining industry now is a good time as ever. There has been an increase in mining activity, calling for demand in electromagnetic flowmeters. The demand is so high, its market value is at $1,981.2 million and is expected to expand to $2,613.1 million by 2025.
According to flowmeters.com, these are devices that measure the amount of liquid, gas or vapor that passes through them. Some measure the flow as the amount of fluid passing through the flowmeter during a period of time, while others measure the totalized amount of fluid that passed through the flowmeter. These devices are made up of a primary device, transducer and transmitter. All of these components work together. While the transducer senses the fluid that passed through the primary device, the transmitter produces a flow signal from the raw transducer signal.
There are many types of flowmeters depending on what is needed for the job. Volumetric flowmeters, velocity flowmeters, mass flowmeters, and inferential flowmeters. They can also be used in different applications like cooling water, lubricating oil, industrial gas, compressed air, clean oil, corrosives, clean gas, abrasives, cryogenic, dirty gas, dirty water, low viscosity fluids, fibrous applications, steam and viscous applications.
Flowmeters are also divided into different types of markets like differential pressure, magnetic, Coriolis, positive displacement, turbine, vortex, ultrasonic, thermal, and multiphase. In industrial settings, electromagnetic flowmeters are typically used in water management. Economies from China and India are making investments in water, wastewater, energy, power, refining, chemicals and industrial infrastructure activities.
Here are some reasons that are driving the increase in market growth.
Water Scarcity And A Growing Population
An Aarhus University study found about 30 to 40 percent of the wold is likely to experience an increase in demand for water and wastewater treatment. A big reason for this is a growing global population. The Worldwatch Institue’s Family Planning and Environmental Sustainability Assessment have observed a major global trend that zeros in on the growth of the human population, aiding to the scarcity of water. Because water is becoming scarce, there is a growing demand for the usage of electromagnetic flowmeters.
Better Irrigation Technology
Since there is an increase in population and demand for things needed for survival like food and water, better agricultural practices, including improving irrigation systems, has become imperative. Flowmeters have had a lot do to with the improvement of water distribution and management. Installation of flowmeters in the Indus Basin Irrigation System allowed for real-time control of water distribution in the irrigation canals and continuous recording of water deliveries.
Investing In New Technologies
Flowmeters are recognizing the demand, and they are investing in new technologies to make it better. Flowmeter manufacturers are looking for ways to implement electromagnetic flowmeters into their infrastructure related facilities like hydroelectric power plants.
These are just a few reasons why business is booming for flowmeter manufacturers. Now is a good time as ever to start investing.
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