Global Industrial Magnetron Market to Reach $553.4 Million by 2026
The Industrial Magnetron Market Overview
The Industrial Magnetron Market is projected to reach $553.4 Million by 2026, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 3.60% during the forecast period from 2021 to 2026.
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.
According to this report, “Magnetron has been significantly impacted in recent years due to the growing defense expenditure across the globe as a major part of the spending goes into the development of reconssaince abilities, such as RADAR.”
Some of the key players operating in the market include LG Electronics, Toshiba Hokuto Electronics Corporation, Richardson Electronics, Hitachi Power Solutions, Panasonic Corporations, Wave Power Technology, Guoguang Electric Co. Ltd., Insight Product Company, Advanced Environmental Technologies Limited, L3 Harris Technology, Guangzhou Daeyen Trading Company, Cobber Muegge LLC, MICRO-ACTIV COMPONENTS, Fricke und Mallah Mircowave Technology, and Western Electric.
The segment provides details about the competitive strength of the key players operating in the market. For instance, Toshiba Hokuto Electronics Corporation is an electronic component manufacturing company. It is a subsidiary of Toshiba Corporation.
The company is mainly involved in the design and manufacturing of components such as thermal print head, DNA chips and genelyzer, flexible printed circuit boards, magnetrons for microwave oven, industrial magnetron, and transparent film LED modules. The industrial magnetrons offered by the company are used in semiconductor and industrial dielectric heating applications.
Market Segmentation of 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.
• 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.
• 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 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?
• Which type of players and stakeholders are operating in the market ecosystem of industrial magnetron, and what is their significance in the global market?
• How much revenue each of the segments is expected to record during the forecast period along with the growth percentage? Following are the segments:
o Product offerings, including over 1 KW – under 2 KW, 2 KW – 4 KW, and 5 KW – 15 KW.
o Application, including heating and drying, commercial oven, semiconductor, UV curing, and others
o Region, including North America, Asia-Pacific, and Europe