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Microwave Magnetron Market

Pulsed Microwave Magnetrons to Offer Potential Revenue Growth Opportunities, States Fact.MR

Published : 02 Dec 2021 Industry: Industrial Goods

As per the recent published report by Fact.MR, a market research and competitive intelligence provider, the global microwave magnetron market enjoys a valuation of US$ 572 Mn, and is slated to expand at an impressive CAGR of 5.2% over the forecast period of 2021 to 2031.

Rapidly growing market of smart home appliances and communication applications will predominantly drive demand growth of microwave magnetrons. Rising demand for built-in oven and premium microwaves ranges are likely to speed up the need for efficient and powerful microwave magnetrons in the market.

Furthermore, with increasing interest towards modular kitchens and home decoration, demand for such products has amplified expressively, which is further likely to drive growth of the microwave magnetron market over the coming years.

Key Takeaways from Market Study

  • Pulsed magnetrons and continuous wave magnetrons are likely to witness sales of US$ 576 Mn and US$ 220 Mn by 2031, respectively.
  • Based on application, the lighting and heating segments in microwave magnetrons is anticipated to be the most lucrative with a market share of 43% % and 17%, respectively, by 2031.
  • Together, North America and Europe represented 56% of overall market share in 2020.
  • The market in South Asia & Oceania is valued at US$ 67 Mn, and expected to expand at a CAGR of 6.5% over the forecast period.

“Microwave magnetrons have gain traction due to their ability to achieve considerable process times as compared to other conservative processes,” says a Fact.MR analyst.

Winning Strategy

Microwave magnetrons re widely used in numerous applications in several end-use industries for heating processes to generate plasma and drying. Also, demand for such products in the industrial sector has endured steadiness.

Overall outlook for the global microwave magnetron industry looks positive, with a stable brook of opportunities likely to develop for stakeholders to capitalize on. Market players are focusing on product modifications and channelizing their resources for developing more reliable and robust products. Along with that, they are leveraging partnerships developed with end users to gain higher market share.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global microwave magnetron market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights by product type (pulsed magnetrons, continuous wave magnetrons, and others), by application (radar, heating, lighting, and others), and by end user (telecom industry, aerospace industry, defence industry, electronics industry, and mechanical industry), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Industrial Goods Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant – Industrial Goods

E-mail: shubham@factmr.com

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Microwave Magnetron Market Analysis, By Product Type (Pulsed Magnetrons, Continuous Wave Magnetrons, Others), By Application (Radar, Heating, Lighting, Others), By End User (Telecom Industry, Aerospace Industry, Defence Industry) - Global Market Insights 2021 to 2031