Industrial Magnetrons Market Is Anticipated To Grow Further Till USD 8.0 Billion By 2032 | Panasonic Corporation, Toshiba, Hitachi

The industrial magnetrons market was valued at USD 4.7 billion in 2022 and it is anticipated to grow further till USD 8.0 billion by 2032, at a CAGR of 5.4% during the forecast period.

Industrial magnetrons are high-power microwave devices that are used in industrial applications such as radar, microwave heating, and medical devices. Magnetrons generate microwaves by using an electromagnetic field to accelerate electrons in a vacuum chamber. The microwaves are then emitted from the magnetron through a hole in the side of the device. Magnetrons are used in a variety of industries and have a wide range of power output levels.

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Market Driver and Trends

The key drivers of the industrial magnetrons market are the rising demand for microwave heating from various end-use industries and the increasing adoption of industrial magnetrons in medical applications. The rising demand for microwave heating can be attributed to the growing industrial and commercial applications of microwaves, such as food processing, material drying, and chemical synthesis. The increasing adoption of industrial magnetrons in medical applications is due to the growing demand for cancer treatment and the rising number of hospitals and clinics. The other drivers of the market include the increasing government funding for research and development activities and the growing number of patents for industrial magnetrons.

Major Players in the Global Industrial Magnetrons Market

The key players studied in the report are Panasonic Corporation, Toshiba, Hitachi Ltd., L3 Technologies, Inc., MUEGGE GmbH, Teledyne E2V Limited, CPI International Inc., Richardson Electronics, Ltd., MDP Components, and STT International Limited. among others.

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COVID-19 Impact

Due to the government-imposed lockdown and low demand from manufacturers producing radar systems and microwave ovens, the need for industrial magnetrons is anticipated to decline in 2020. The COVID-19 epidemic has halted manufacturing of a number of goods in industrial magnetrons, primarily because of the protracted lockdown in important countries worldwide. This has considerably slowed the demand for industrial magnetrons during the past few months, and it will probably do so again in 2020. Equipment and machinery sales have already been impacted by COVID-19 in the first quarter of 2020, and the market growth is projected to suffer throughout the year. The U.S., Germany, Italy, the United Kingdom, and China, who are important industrial nations and are severely impacted by the coronavirus outbreak, accounted for the majority of the demand for equipment and machinery in the past. Furthermore, the lockdown's potential effects are now unknown, and a company's ability to recover financially depends entirely on its cash reserves. Only a few months of a complete lockdown are feasible for equipment and machinery industries; beyond that, the players would need to change their investment strategies. When COVID-19 infection instances start to decline, makers of equipment and machinery must concentrate on safeguarding their staff, operations, and supply networks in order to respond to urgent emergencies and establish new methods of working.

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Market Segments

By Product Type

Continuous Wave
Pulsed

By Cooling Type

Air Cooled
Water Cooled

By Application

Industrial Heating Equipment
Radar Systems
Medical Applications
Others

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