Microwave Magnetron Market
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
Microwave Magnetron Market Outlook
The global microwave magnetron market is estimated to have a valuation of around US$ 572 Mn at present. Sales of microwave magnetrons are slated to accelerate at a steady CAGR of 5.2% to top US$ 947 Mn by 2031. Demand for pulsed magnetrons is likely to increase at a CAGR of 4.7% over the assessment period of 2021 to 2031.
Demand for microwave magnetrons is likely to be determined by rising use of microwaves in numerous industrial and commercial applications. With the establishment of worldwide economies, the disposable income of buyers has increased, leading to a surge in commercial food outlets, thereby swelling demand for microwave magnetrons in parallel. The market is likely to grow 1.7X over the assessment period of 2021-2031.
|Microwave Magnetron Market Size (2021)||US$ 524 Mn|
|Market Forecasted Value (2031)||US$ 947 Mn|
|Global Market Growth Rate (2021-2031)||5.2% CAGR|
|Top 5 Microwave Magnetron Manufacturers’ Market Share||20%-25%|
The global magnetron market was valued at US$ 20.2 Bn in 2020, whereas microwave magnetron sales accounted for 2.5% share being valued at US$ 524 Mn. Pulsed magnetrons have shown excellent results in the production of silicon carbide-based microscopic structures. By using such techniques, results in developed etched surfaces and etch rate are slicker as there are many benefits of using silicon carbide over other types of fabrication for microchips.
Future application of semiconductors is likely to use this technology, and hence, will create better prospects for manufacturers of microwave magnetrons over the coming years.
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Microwave Magnetron Consumption Analysis from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
- North America is a prominent region in the global market due to rising demand for microwave oven magnetrons in the U.S., which is anticipated to expand at a CAGR of 4.7% through 2031.
- The South Asia & Oceania microwave magnetron market is holds a market value of around US$ 67 Mn owing to high rate of technology adoption.
- East Asia and Europe have contributed significantly to the growth is demand for microwave magnetrons.
- The top 5 providers of microwave magnetrons held around 20% to 25% market share in 2020.
- The global market expanded at 4.1% CAGR from 2016 to 2020, and is set to progress faster at 5.2% CAGR over the decade.
Country Wise Analysis
What Allows Germany to Lead the Market for Microwave Magnetrons in Europe?
Germany is slated to remain the fastest-growing market with the highest CAGR in Europe for microwave oven magnetrons. Advancements in Germany are likely to be the keystone for market growth at the regional level. Although, concerns regarding deleveraging exist in Europe, the outlook for regional growth is expected to stay positive.
What is the Growth Outlook in China for Microwave Magnetron Suppliers?
In East Asia region, China is likely to embark on extreme reforms, pointing to increases funds in the country’s industrial sectors. Such macroeconomic factors are likely to influence microwave engineering and microwave magnetron demand with total sales of US$ 188 Mn by 2031.
How is the U.S. Market for Microwave Magnetrons Faring?
The U.S.-based microwave magnetron market is likely to be the most lucrative with a market share of more than 60% in North America.
The U.S. accounts for bulk of the demand for microwave magnetrons, whereas, Canada accounts for a minority share. Revenue from the sales of microwave magnetron connections in the North America region is set to expand 1.6X over the forecast period.
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Which Application is Accelerating Demand for Microwave Magnetrons?
The heating application segment underpins the most demand for microwave magnetrons, and reached a total valuation of US$ 249 Mn in 2021.
The selective heating application in microwave magnetrons minimizes scorching, overheating, over-processing, and endorses a pollution-free atmosphere, as there are no byproducts for combustion, and provides instantaneous control on heating.
With the use of a microwave magnetron, it is conceivable to spot ships, submarine periscopes, and planes of enemies in the dark. Microwaves in radar devices are widely used by naval forces and militaries of several countries around the globe, and is likely to be valued at US$ 273 Mn by the end of 2031, as far as industrial magnetrons are concerned.
Will Growing Adoption of Microwaves Pave the Way for Microwave Magnetrons?
Rising number of nuclear families, growing standard of living, and swelling demand for ready-to-eat and frozen food are some of the factors escalating growth of the market. The convection type of microwaves is typically used in commercial businesses such as hotels and restaurants, where food is organized in large quantities, which requires defrosting and reheating.
Economic factors such as rising awareness about different cooking appliances, growing disposable income of consumers, increasing population, rising contracts of catering for seminars, large-scale functions & other social parties, and robust growth of the hospitality sector are anticipated to drive sales of microwave magnetrons over the coming time period.
How are Companies Developing Microwave Magnetrons for Sustainable Growth?
Market players are progressively integrating home appliances with IoT (Internet of Things) platforms. Smart kitchen appliances are becoming wireless and operate remotely in real-time through desktop applications and mobiles. Similarly, with mounting consciousness about saving energy, microwave magnetron suppliers are focused on creating energy-efficient products that are rated as ENERGY STAR.
Companies are also projected to offer innovative and novel products, such as easy control panels and auto programs in microwave ovens, and also advanced cavity magnetrons in radar, to enhance their usability.
Key microwave magnetron producers also have a strong position in the global market with a large set of customers, which springs them with an edge over their competitors in the market. Moreover, manufacturers also participate comprehensively in campaigns of advertising to surge their visibility in the field.
Major players are shifting their focus towards energy-efficient products combined with IoT (Internet of Things) platforms to allow end users to operate their products remotely.
Some of the key developments are:
- In 2020, Hitachi Power Solutions Co Ltd launched superior quality and highly evaluated microwave magnetrons. This newly launched product can be used in several fields such as dry processing, microwave light emissions, etc.
Similarly, recent developments by top providers of microwave magnetrons have been tracked by the team at Fact.MR, which are available in the detailed report.
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Microwave Magnetron Industry Report Scope
|Historical Data Available for||2016-2020|
|Market Analysis||Value in US$ Mn, Volume in Units|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled|
|Pricing||Available upon Request|
Key Segments Covered in Microwave Magnetron Industry Survey
By Product Type
- Pulsed Microwave Magnetrons
- Continuous Wave Magnetrons
- Microwave Magnetrons for Radars
- Microwave Magnetrons for Heating
- Microwave Magnetrons for Lighting
By End User
- Microwave Magnetrons for Telecom Industry
- Microwave Magnetrons for Aerospace Industry
- Microwave Magnetrons for Defence Industry
- Microwave Magnetrons for Electronics Industry
- Microwave Magnetrons for Mechanical Industry
- FAQs -
The global microwave magnetron market is currently valued at around US$ 572 Mn.
Microwave magnetron sales are projected to increase at a CAGR of 5.2% during 2021 – 2031.
Value sales of microwave magnetrons increased at a CAGR of 4.1% during 2016 – 2020.
Rising demand for premium microwaves and built-in oven ranges is one of the primary factors driving the need for microwave magnetrons.
Top 5 manufacturers of microwave magnetrons account for around 20% to 25% share in the market.
Top 5 countries driving demand microwave magnetrons are the U.S., China, Canada, Germany, India, and Japan.
East Asia accounts for over 25% global market share for microwave magnetrons.
The European market for microwave magnetrons is projected to expand at a CAGR of around 7.2% during 2021 – 2031.
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