According to a recently published report by Future Market Insights, the global industrial magnetron market will grow at a faster-than-average rate from 2022 to 2026. Global sales of industrial magnetrons are expected to reach US$ 5.82 billion by the end of 2026.
According to FMI, China is expected to account for a significant share of the Asia Pacific Industrial Magnetrons Market between 2022 and 2026.
Furthermore, increasing emphasis by market players in the country 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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List of Key Players Covered in Industrial Magnetrons Market are:
- Panasonic Corporation
- Toshiba International Corporation
- Hitachi Ltd.
- L3 Technologies, Inc.
- MUEGGE GmbH
- Teledyne E2V Limited
- CPI International Inc.
- Richardson Electronics, Ltd.
- MDP Components
- STT International Limited
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.
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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.
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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Detailed Table of Content:
- Global Economic Outlook
- Global Industrial Magnetrons Market – Executive Summary
- Global Industrial Magnetrons Market Overview
- Introduction
- Global Industrial Magnetrons Market Taxonomy
- Global Industrial Magnetrons Market Definition
- Global Industrial Magnetrons Market Size (US$ Mn) and Forecast, 2012-2026
- Global Industrial Magnetrons Market Y-o-Y Growth
- Global Industrial Magnetrons Market Dynamics
- Supply Chain
- Cost Structure
- Pricing Analysis
- Product Life Cycle
- Porter’s Five Force Analysis
- Introduction
- 3.7. PEST Analysis
- Investment Feasibility Matrix
- Key Participants Market Presence (Intensity Map) By Region
- Global Industrial Magnetrons Market Analysis and Forecast 2012-2026
- Global Industrial Magnetrons Market Size and Forecast By Product Type, 2012-2026
- Continuous Wave Market Size and Forecast, 2012-2026
- Revenue (US$ Mn) Comparison, By Region
- Market Share Comparison, By Region
- Y-o-Y growth Comparison, By Region
- Pulsed Market Size and Forecast, 2012-2026
- Revenue (US$ Mn) Comparison, By Region
- Market Share Comparison, By Region
- Y-o-Y growth Comparison, By Region
- Continuous Wave Market Size and Forecast, 2012-2026
- Global Industrial Magnetrons Market Size and Forecast By Operating Frequency, 2012-2026
- L Band Market Size and Forecast, 2012-2026
- Revenue (US$ Mn) Comparison, By Region
- Market Share Comparison, By Region
- Y-o-Y growth Comparison, By Region
- L Band Market Size and Forecast, 2012-2026
- Global Industrial Magnetrons Market Size and Forecast By Product Type, 2012-2026
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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