Industrial Magnetron Market - Global and Regional Analysis: Focus on Product Type, Application, and Countries - Analysis and Forecast, 2021-2026
Global Industrial Magnetron Market to Reach $553.4 Million by 2026.
Market Report Coverage - Industrial Magnetron
- Application: Heating & Drying, Commercial Oven, Semiconductor, UV Curing, and Others
- Product: Over 1 KW – under 2 KW, 2 KW – 4 KW, and 5 KW – 15 KW
- North America
- Europe: Germany, France, Italy, Spain, U.K., and Rest-of-Europe
- Asia-Pacific: Japan, Taiwan, India, South Korea, and Rest-of-APAC
Market Growth Drivers
- Growing Demand for Microwaves for Commercial and Industrial Usage
- Increasing Defense Expenditure by Various Governments
- Maintaining the Life Span of the Magnetrons
- Application of Magnetron in Semiconductor and Power Industries
Key Companies Profiled
LG Electronics, Toshiba Hokuto Electronics Corporation, Richardson Electronics, Hitachi Power Solutions, Panasonic Corporation, Wave Power Technology, Guoguang Electric Co. Ltd., Insight Product Company, Advanced Environmental Technologies Limited, L3 Harris Technologies, Guangzhou Daeyean Trading Company, CobberMuegge LLC, MICRO-ACTIV COMPONENTS, Fricke und Mallah Microwave Technology, and Western Electric
How This Report Can Add Value
Business Drivers, Restraints, and Opportunities
- The demand for magnetron is expected to be driven by the growing usage of microwaves in various commercial and industrial applications. With the strengthening of global economies, the disposable income of consumers has increased, leading to an increase in commercial food outlets, hence increasing the demand for commercial microwaves.
- Magnetron plasma etching has shown promising results in the fabrication of silicon carbide microscopic structures. Using this technique results in a higher etch rate and the etched surfaces are smoother as there are many advantages of using silicon carbide over conventional silicon for fabricating microchips. The future semiconductor application is expected to use this technology and hence will create opportunities for magnetron manufacturers in the future.
Market by Region, Analysis, and Forecast
France is one of Europe's biggest agricultural producers, accounting for about 30% of Europe's agricultural production. As a result, it gets enormous subsidies for agriculture, including animal farming, from the government. APAC has proved to be a major market for industrial magnetron in the world, due to the presence of some of the leading microwave manufacturers.
Key questions answered in the Report
- What is the estimated global industrial magnetron market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
- What are the key trends, market drivers, and opportunities in the market pertaining to industrial magnetron?
- What are the major restraints inhibiting the growth of the global industrial magnetron market?
- What is the competitive strength of the key players in the industrial magnetron market on the basis of analysis of their recent developments, product offerings, and regional presence?
- How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
- Product offerings, including over 1 KW – under 2 KW, 2 KW – 4 KW, and 5 KW – 15 KW.
- Application, including heating and drying, commercial oven, semiconductor devices, UV curing, and others
- Region, including North America, Asia-Pacific, and Europe
- Which type of players and stakeholders are operating in the market ecosystem of industrial magnetron, and what is their significance in the global market?
Global Industrial Magnetron Market
Industrial magnetrons are vacuum tubes that generate high-power electromagnetic waves. These are an essential part of industrial microwave systems. Electromagnetic waves generated by these magnetrons are used in various applications such as heating and drying, commercial oven, semiconductor, and UV curing.
Global Industrial Magnetron Industry Overview
The global industrial magnetron market is expected to reach $553.4 million by 2026, with a CAGR of 3.60% during the forecast period 2021-2026. The growth in the market is expected to be driven by the increasing demand for microwaves for commercial and industrial usage. Additionally, in recent years there has been an increase in defense expenditure in various countries which will further boost the demand for magnetrons in applications such as Radio detecting and ranging (RADAR).
Global Industrial Magnetron Market by Application
Heating and drying is expected to be the largest application segment of industrial magnetron. It is one of the main applications of magnetron as many industries such as food processing, chemical, lumber, rubber, and medical have been using microwaves for heating and drying application for years.
Global Industrial Magnetron Market by Type
The global industrial magnetron market by type category is dominated by magnetron with an output of over 1 KW – under 2 KW. Most of the magnetron providers offer products under the mentioned category.
Global Industrial Magnetron Market by Region
APAC generated the highest revenue of $165.30 million in 2020, attributed to the presence of leading industrial and commercial microwave manufacturers. Also, the region has some of the leading food processing and semiconductor manufacturers.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include LG Electronics, Toshiba Hokuto Electronics Corporation, Richardson Electronics, Hitachi Power Solutions, Panasonic Corporation, Wave Power Technology, Guoguang Electric Co. Ltd., Insight Product Company, Advanced Environmental Technologies Limited, L3 Harris Technologies, Guangzhou Daeyean Trading Company, CobberMuegge LLC, MICRO-ACTIV COMPONENTS, Fricke und Mallah Microwave Technology, and Western Electric
The companies that are profiled in the report have been selected from a selective pool of players, based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the industrial magnetron industry.
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