The global industrial magnetrons market is expected to generate an incremental opportunity of $4.72 billion USD by the end of 2022. The growing use of magnetron technology in industrial heating equipment throughout the manufacturing sector is expected to drive market growth.
According to a recent Future Market Insights report, the global industrial magnetron market will expand at a faster-than-average rate during the forecast period (2022-2026). By the end of 2026, global sales of industrial magnetrons are expected to reach $5.82 billion. China is expected to account for a significant share of the Asia Pacific Industrial Magnetrons Market between 2022 and 2026, according to FMI.
Furthermore, the country’s increasing emphasis on the launch of miniaturised and lightweight magnetrons is expected to help the APEJ market account for around 19.1% of the demand share through 2022.
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Growing Emphasis on Reducing Operational Costs Leading to Development of Advanced Industrial Magnetrons
Magnetrons serve different purposes subject to 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. Adoption of industrial magnetron has witnessed a steady rise in the recent past. However, growing emphasis on minimizing the 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.
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.
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.
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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Industrial Magnetrons Market by Category
By Product Type:
- Continuous Wave
- Pulsed
By Cooling Type:
- Air Cooled
- Water Cooled
By Operating Frequency:
- L Band
- S Band
- C Band
- X Band
- Ku & Ka Band
By Applications:
- Industrial Heating Equipment
- Radar Systems
- Medical Applications
- Others
By Region:
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
