Microwave Magnetron Market to Increase by 1.7x Amid Surging Applications in the Foodservice Industry
Thursday, December 16, 2021
In a recent market analysis, Fact.MR offers a comprehensive study of the global microwave magnetron market, covering recent developments in terms of product type, application, and end users across seven regions. The report also divulges compelling insights into trends, drivers, opportunities, and threats to help readers understand the market scenario.
NEW YORK, Dec. 8, 2021 /PRNewswire/ -- Fact.MR - A Market Research and Competitive Intelligence Provider: The global microwave magnetron market size is projected to total US$ 572 Mn in 2021, as per a recent market analysis by Fact.MR. Increasing demand for microwaves in the foodservice industry and various commercial sectors is propelling sales. On account of this, the market size is projected to reach US$ 947 Mn by 2031.
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Increasing consumption of ready-to-eat meals and frozen foods in emerging economies is boosting sales of microwaves. Against this backdrop, Fact.MR estimates, the global microwave magnetron market to exhibit steady growth at 5.2% CAGR between 2021 and 2031.
Convection microwaves are extensively being used in the foodservice industry, especially in hotels and restaurants where large quantities of food are required to defrost or reheat. This is the major factor pushing the sales in the forthcoming years.
Further, rising adoption of cooking appliances in residential sector, coupled with increasing demand in small and large-scale food catering in the hospitality sector are chief factors augmenting the growth in the market.
In terms of product type, the pulsed magnetron segment is projected to record the highest growth over the assessment period. Manufacturers are launching pulsed magnetrons with silicone carbide-based microchip structures.
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This technique enables manufacturers to improve results in etched surfaces and etch rates. This is expected to create growth opportunities for new entrants and existing market players over the assessment period.
As per the study, the U.S. is expected to dominate the North America market over the forecast period. Growth is driven by increasing demand for convenient cooking appliances, along with the growing expansion of the foodservice and catering industry.
"Stringent regulations regarding energy efficiency are compelling manufacturers to launch products with 'ENERGY STAR' rating to achieve sustainability. This trend is expected to create new growth avenues in the market. Further, key players are also integrating novel technologies such as IoT (Internet of Things) in home appliances to increase their revenues," says a Fact.MR analyst.
Key Takeaways:
-- Demand in the heating application segment is projected to top US$ 249 Mn
in 2021.
-- In terms of end users, sales in the electronics industry, especially for
kitchen appliances are projected to gain traction in the forthcoming
years.
-- Sales of pulsed magnetrons are forecast to grow at a 4.7% CAGR over the
assessment period.
-- The U.S. is anticipated to account for over 60% of the North America
market share in over the forecast period.
-- Sales of microwave magnetrons in the China market are projected to top
US$ 188 Mn by 2031.
-- Germany is expected to spearhead the growth in the Europe market owing
to increasing adoption of smart home appliances in the country.
Growth Drivers:
-- Introduction of features such as easy control panels and auto programs
in microwaves will continue to boost the market.
-- Growing adoption of semiconductors and advanced cavity magnetron in
radar to improve usability is expected to push sales in the market.
To learn more about Microwave Magnetron Market, you can get in touch with our Analyst at
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Competitive Landscape
Leading players operating in the microwave magnetron market are focusing on research and development activities to incorporate new technologies. They are also aiming for product development to improve quality and efficiency.
In addition to this, mergers, acquisitions, and collaborations will remain prominent growth strategies adopted by players over the assessment period.
For instance, in 2020, Hitachi Power Solutions Co. Ltd. launched a series of superior quality highly evaluated microwave magnetrons. The new product line can be used in a variety of fields such as microwave light emissions and dry processing.
Key Players in the Microwave Magnetron Market Include:
-- New Japan Radio Co. Ltd
-- Frigidaire
-- FURUNO
-- Richardson Electronics
More Valuable Insights on Microwave Magnetron Market
Fact.MR provides an unbiased analysis of the microwave magnetron market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global microwave magnetron market with a detailed segmentation on the basis of:
Product Type:
-- Pulsed Microwave Magnetrons
-- Continuous Wave Magnetrons
-- Others
Application:
-- Radars
-- Heating
-- Lighting
End User:
-- Telecom Industry
-- Aerospace Industry
-- Defence Industry
-- Electronics Industry
-- Mechanical Industry
Regions:
-- North America
-- Latin America
-- Europe
-- East Asia
-- South Asia
-- Oceania
-- MEA
Key Questions Covered in Microwave Magnetron Market Report
-- The report offers insight into the microwave magnetron market demand
outlook for 2021-2031.
-- The market study also highlights projected sales growth for microwave
magnetron market between 2021 and 2031.
-- Microwave magnetron market survey identifies key growth drivers,
restraints, and other forces impacting prevailing trends and evaluation
of current market size and forecast and technological advancements
within the industry.
-- Microwave magnetron market share analysis of the key companies within
the industry and coverage of strategies such as mergers & acquisitions,
joint ventures, collaborations or partnerships, and others.
Explore Fact.MR's Coverage on the Industrial Goods Domain -
Magnetic Induction Heating Devices Market Scope - The growing use of magnetic induction heating devices in the medical sector and in households for cooking in developed countries will help the market grow steadily. The growing use of induction heating devices in medical as well as domestic applications is driving the market for induction heating devices. In addition, sales of induction heating devices are being driven by industrialization in developing economies and the use of induction measures in injection moulding machines. Despite this, developments in critical magnetic component designs are driving up demand for magnetic induction devices.
Heating Cable Market Forecast - Climate change is a big problem for humanity, and countries in the North American region have recently experienced a cold wave. Instead of relying on standard heat pumps and central heat furnaces, households in colder regions have begun to use heating cables for under-floor heating, roof heating, and snow melting. Heat cables have recently become more efficient, reliable, and stable as a result of technological integration. Self-regulating heating wires are becoming more popular in commercial and residential buildings because to benefits like as improved control, fewer maintenance costs, and increased safety and reliability.
Conveyor Oven Market Insights - Conveyor ovens have evolved into a critical component of the food processing industry. One important factor contributing to the growing demand for conveyor ovens is that a growing number of food processing facilities are turning to automation solutions to help them speed up the manufacturing process in order to meet customer demand. The utilisation of conveyor ovens in modular food processing facilities provides a global expansion platform. The growing demand for contemporary equipment to cook more food in less time in restaurants, bakeries, hotels, and food catering services also contributes to the conveyor oven market's growth.
About Fact.MR
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