Asia Pacific Industrial Magnetrons Market Is Expected To Grow At A CAGR Of 5.4%: FMI

By the end of 2022, the market for industrial magnetrons is predicted to generate an additional opportunity worth US$4.72 billion. The manufacturing sector's expanding use of magnetron technology in industrial heating equipment is anticipated to support market expansion.

Rapidly expanding consumer electronics industry and surging demand for semiconductors are bolstering the demand for industrial magnetrons in China. Increasing use of industrial magnetrons in a variety of appliances and devices such as room heaters, microwave ovens, Bluetooth devices, wearable electronics, Wi-fi enabled devices, and others are accelerating the sales in the China market.

China is forecast to account for a significant share in the Asia Pacific Industrial Magnetrons Market between 2022 and 2026, reveals FMI.

In addition, growing emphasis on the launch of miniaturized and lightweight magnetrons by the market players in the country is estimated to assist the APEJ market to account for around 19.1% of the demand share through 2022.

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Future Market Insights' recently compiled report projects the global industrial magnetron market to exhibit an above-average growth over the forecast period (2022-2026). Global sales of industrial magnetrons are estimated to reach approximately US$ 5.82 Bn in revenues by 2026-end.

Growing Emphasis on Reducing Operational Costs Leading to Development of Advanced Industrial Magnetrons

Magnetrons serve different purposes subject to the objectives of various end-use industries. For example, industrial magnetrons are utilized for moisture-reduction in the pharmaceutical industry, and for enabling different types of coatings to plastic and rubber materials in the coatings industry. The adoption of industrial magnetron has witnessed a steady rise in the recent past. However, growing emphasis on minimizing operational costs has encouraged manufacturers in making advancements in industrial magnetrons.

Demand for industrial magnetrons is further influenced by a slew of microeconomic and macroeconomic factors such as overall growth prospects of the global industrial sector, government policies, technological evolutions and growing demand from end-users.

In various industrial settings, processing of continuous material flow creates demand for the continuous-wave magnetrons. The EM-shielded chamber has been basically cooled by utilizing water or air, in a bid to prevent overheating of industrial equipment. Both water- & air-cooled magnetrons have been widely utilized in the industrial settings, however demand for air-cooled industrial magnetrons are likely to remain comparatively higher owing to their cost effectiveness.

Heating and drying process underpins most of the demand for magnetrons in many industrial settings. Requirement for industrial magnetrons in plasma generation has therefore gained a steady increase since the recent past.

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North America to Lead the Market in Terms of Revenues

North America will continue to lead the global industrial magnetron market, in terms of revenues. Revenue share of Europe and Asia-Pacific excluding Japan (APEJ) will also remain high in the market. The industrial magnetron market in APEJ will register the highest CAGR through 2026, followed by North America. Middle East & Africa, Latin America and Japan will remain least lucrative markets for industrial magnetron.

Based on product type, continuous wave industrial magnetrons will continue to dominate the market, with revenues projected to account for over two-third market share by 2026-end. Sales of continuous wave industrial magnetron will register an impressive expansion through 2026. Demand for pulsed industrial magnetron will remain relatively lower in the market.

Industrial Magnetrons with X band will Remain Sought-after in the Market

On the basis of operating frequency, industrial magnetrons with X band will remain sought-after in the market, trailed by Ku & Ka Band and C band. Sales of industrial magnetrons with Ku & Ka band will reflect the fastest expansion through 2026, closely followed by those with X band.

Based on cooling type, air-cooled industrial magnetrons will remain preferred in the market, with sales poised to surpass revenues worth US$ 3,000 Mn by 2026-end. Revenues from water-cooled industrial magnetrons will account for over two-fifth share of the market by 2026-end. Radar systems will continue to be the most lucrative applications of industrial magnetrons. However, sales of industrial magnetrons for medical applications will reflect a relatively faster expansion through 2026.

Establishment of new manufacturing facilities associated with various industries and growing investment in R&D activities by leading market players have created demand for industrial magnetrons. Prominent players in the market are increasingly focusing on the development of energy-efficient industrial magnetrons. Key market participants identified by the report include STT International Limited, MDP Components, Richardson Electronics, Ltd., CPI International Inc., Teledyne E2V Limited, MUEGGE GmbH, L3 Technologies, Inc., Hitachi Ltd., Toshiba International Corporation, and Panasonic Corporation.

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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.