Microwave Magnetron Sales Are Projected To Increase At A CAGR Of 5.2% During 2021 - 2031

As per the recent published report by Fact.MR, a market research and competitive intelligence provider, the global microwave magnetron market enjoys a valuation of US$ 572 Mn, and is slated to expand at an impressive CAGR of 5.2% over the forecast period of 2021 to 2031.

Rapidly growing market of smart home appliances and communication applications will predominantly drive demand growth of microwave magnetrons. Rising demand for built-in oven and premium microwaves ranges are likely to speed up the need for efficient and powerful microwave magnetrons in the market.

Furthermore, with increasing interest towards modular kitchens and home decoration, demand for such products has amplified expressively, which is further likely to drive growth of the microwave magnetron market over the coming years.

Download Free Sample Copy of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7077

Key Takeaways from Market Study

• Pulsed magnetrons and continuous wave magnetrons are likely to witness sales of US$ 576 Mn and US$ 220 Mn by 2031, respectively.
• Based on application, the lighting and heating segments in microwave magnetrons is anticipated to be the most lucrative with a market share of 43% % and 17%, respectively, by 2031.
• Together, North America and Europe represented 56% of overall market share in 2020.
• The market in South Asia & Oceania is valued at US$ 67 Mn, and expected to expand at a CAGR of 6.5% over the forecast period.

"Microwave magnetrons have gain traction due to their ability to achieve considerable process times as compared to other conservative processes," says a Fact.MR analyst.

Key Segments Covered in Microwave Magnetron Industry Survey

By Product Type
• Pulsed Microwave Magnetrons
• Continuous Wave Magnetrons
• Others

By Application
• Microwave Magnetrons for Radars
• Microwave Magnetrons for Heating
• Microwave Magnetrons for Lighting
• Others

By End User
• Microwave Magnetrons for Telecom Industry
• Microwave Magnetrons for Aerospace Industry
• Microwave Magnetrons for Defence Industry
• Microwave Magnetrons for Electronics
Industry
• Microwave Magnetrons for Mechanical Industry

How is the U.S. Market for Microwave Magnetrons Faring?

The U.S.-based microwave magnetron market is likely to be the most lucrative with a market share of more than 60% in North America.
The U.S. accounts for bulk of the demand for microwave magnetrons, whereas, Canada accounts for a minority share. Revenue from the sales of microwave magnetron connections in the North America region is set to expand 1.6X over the forecast period.

Category-wise Insights

Which Application is Accelerating Demand for Microwave Magnetrons?

The heating application segment underpins the most demand for microwave magnetrons, and reached a total valuation of US$ 249 Mn in 2021.
The selective heating application in microwave magnetrons minimizes scorching, overheating, over-processing, and endorses a pollution-free atmosphere, as there are no byproducts for combustion, and provides instantaneous control on heating.
With the use of a microwave magnetron, it is conceivable to spot ships, submarine periscopes, and planes of enemies in the dark. Microwaves in radar devices are widely used by naval forces and militaries of several countries around the globe, and is likely to be valued at US$ 273 Mn by the end of 2031, as far as industrial magnetrons are concerned.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7077

Will Growing Adoption of Microwaves Pave the Way for Microwave Magnetrons?

Rising number of nuclear families, growing standard of living, and swelling demand for ready-to-eat and frozen food are some of the factors escalating growth of the market. The convection type of microwaves is typically used in commercial businesses such as hotels and restaurants, where food is organized in large quantities, which requires defrosting and reheating.
Economic factors such as rising awareness about different cooking appliances, growing disposable income of consumers, increasing population, rising contracts of catering for seminars, large-scale functions & other social parties, and robust growth of the hospitality sector are anticipated to drive sales of microwave magnetrons over the coming time period.

Competitive Landscape

Key microwave magnetron producers also have a strong position in the global market with a large set of customers, which springs them with an edge over their competitors in the market. Moreover, manufacturers also participate comprehensively in campaigns of advertising to surge their visibility in the field.
Major players are shifting their focus towards energy-efficient products combined with IoT (Internet of Things) platforms to allow end users to operate their products remotely.
Some of the key developments are:
• In 2020, Hitachi Power Solutions Co Ltd launched superior quality and highly evaluated microwave magnetrons. This newly launched product can be used in several fields such as dry processing, microwave light emissions, etc.
Similarly, recent developments by top providers of microwave magnetrons have been tracked by the team at Fact.MR, which are available in the detailed report.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth, product enhancements, and revenue generation from microwave magnetrons across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue through microwave magnetrons during the forecast period.

For More Insights:

https://www.prnewswire.com/news-releases/dental-care-medical-ceramics-applications-to-spearhead-majority-of-market-growth-across-2021-factmr-study-301232422.html

https://www.prnewswire.com/news-releases/focus-on-early-detection-boosts-cervical-dysplasia-diagnostics-adoption-factmr-301233468.html

http://www.prnewswire.com/news-releases/surging-nephrology-disorders-fuel-adoption-of-serological-transplant-diagnostics-factmr-301234517.html

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Email: sales@factmr.com

About Us:
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.

This release was published on openPR.