|02-12-2019 12:08 PM CET - IT, New Media & Software||
Industrial Microwave Heating Market Size Worth $1,602.1 Million by 2026 | Market Outlook, Drivers and Restraints, Completive Landscape, Regional Analysis | Industry Players: Communications & Power Industries LLC (CPI), L3 Technologies, Richardson Electron
Press release from: Polaris Market Research & Consulting
Industrial Microwave Heating market is anticipated to reach over 1,602.1 million by 2026 according to a new research published by Polaris Market Research. In 2017, the Magnetron segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.
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The diverse applications of Industrial Microwave Heating in industries such as pharmaceutical, plastic, chemical, paper, and food and beverages among others are expected to support the growth of this market. Other driving factors include lower maintenance costs, higher operating efficiency, and reduced power consumption. However, increasing prices of electricity hamper the growth of the market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The growing adoption of industrial microwave heating in food and beverage, and pharmaceutical sectors is expected to support the Industrial Microwave Heating market growth. The increasing requirement for even heating while increasing production speeds and reducing production costs drives the demand for industrial microwave heating. The growing trend towards use of energy efficient microwave heating is expected to boost the growth of the industrial microwave heating market.
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The Europe Industrial Microwave Heating Market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The presence of established industries such as pharmaceutical, plastic, paper, and wood among others, substantial initiatives in research and development, and favorable government policies drive the market growth. Rapid industrialization and growth of manufacturing industry further support the Industrial Microwave Heating market growth in the region.
The different applications of Industrial Microwave Heating include pharmaceutical, plastic, chemical, paper, food and beverages, and others. In 2017, the food and beverages segment accounted for the highest market share owing to the increasing demand for drying, sterilizing, and mold-proofing of food products. Microwave heating is also used for cooking, foaming, blanching, and drying processes for manufacturing of foods and beverages.
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Industrial Microwave Heating Market Segmentation:
• RF Solid State Amplifiers
• Food and Beverages
• North America [U.S., Canada, Mexico]
• Europe [Germany, UK, France, Rest of Europe]
• Asia-Pacific [China, India, Japan, Rest of Asia-Pacific]
• Latin America [Brazil, Middle East & Africa]
Industrial Microwave Heating Market Top Key Player:
• Hitachi Power Solutions Co. Ltd.
• Muegge GmbH
• Teledyne e2v Limited
• Industrial Microwave Systems Ltd.
• CoberMuegge LLC
• Communications & Power Industries LLC (CPI)
• L3 Technologies Inc.
• Richardson Electronics Ltd.
• MDP Components
• STT International Limited
• Panasonic Corporation
• Toshiba International Corporation
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
Corporate Sales, USA
Polaris Market Research
This release was published on openPR.
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