The global industrial magnetrons market is estimated to create an incremental opportunity of USD 4.72 Billion by the end of 2022. Growing usage of magnetron technology across the manufacturing sector in industrial heating equipment is expected to facilitate the growth in the market.
| Attribute | Details |
|---|---|
| Industrial Magnetrons Market Estimated Size in 2022 | USD 4.72 Billion |
| Industrial Magnetrons Market Projected Size in 2026 | USD 5.82 Billion |
| Industrial Magnetrons Market Historical CAGR (2012 to 2021) | 4.9% |
| Industrial Magnetrons Market Value-based CAGR (2022 to 2026) | 5.4% |
The sales in the global industrial magnetrons market are anticipated to reach USD 5.82 Billion by 2026, rising at a CAGR of 5.4% during the forecast period 2022 to 2026.
FMI estimates that North America will register the fastest growth in the global market, accounting for over 38.2% of the industrial magnetrons sales by 2022. On the basis of product type, the continuous wave industrial magnetrons will remain dominant among the product segment, accounting for more than 2/3rd of the market share through 2026.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 5.4% |
| H1,2022 Projected (P) | 5.3% |
| H1,2022 Outlook (O) | 5.1% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 28 ↓ |
FMI presents a half-yearly comparison analysis and review of Industrial Magnetrons Market growth rates. A shift in preference towards using magnetrons for industrial coating owing to their benefits such as the ability to coat heat-sensitive substrates, high deposition rate, ease of sputtering, and high adhesion of films is boosting the demand in the market.
According to FMI analysis, the variation between the BPS values observed in the Industrial Magnetrons Market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 20 units. However, compared to H1, 2021, the market is expected to fall by 28 BPS in H1 -2022.
The maintenance of these products is very difficult also the initial investment in these products is usually high, this is one of the factors which is restraining the market growth.
The growing use of industrial magnetrons in the healthcare sector for applications such as removal of unwanted tissue, structural health monitoring, removal of unwanted tissue, and treatment of large tumors is favoring the growth across the segment.
Apart from this, the growing incorporation of industrial magnetrons in heating equipment for moisture reduction and drying process is favoring the sales in the industrial heating equipment segment.
The global industrial magnetrons market registered growth at CAGR of 4.9% during 2012 to 2021. The sales of industrial magnetrons are expected to rise by 1.30x during the forecast period 2022 to 2026.
Industrial magnetrons are efficient cross-field microwave oscillators that are used for generating continuous-wave (CW) signals and across high output industrial applications such as dry processing, microwave light emission, and electric device manufacturing among others.
Shift in preference towards using magnetrons for industrial coating owing to their benefits such as high deposition rate, ability of coat heat-sensitive substrates, ease of sputtering, and high adhesion of films is propelling the demand in the market. Driven by this, the sales in the global market are projected to top USD 5.82 Billion by 2026, in comparison to the USD 4.49 Billion registered in 2021.
Principal Consultant
Heating appliances consume a large amount of energy during usage due to less resistance of the heating elements, which in turn, results in increasing costs. Manufacturers across the world are extensively focusing on improving their productivity and decreasing their operation costs, especially across industrial heating and drying applications.
Hence, these industrial players are increasingly incorporating novel equipment such as industrial magnetron in heating appliances as it consumes less power by generating high microwave frequency with the flow of electrons in the magnetic field.
Citing this trend, leading players in the market are focusing on launching heating application-specific products to capitalize on existing opportunities.
For instance, Hitachi, a Japanese multinational conglomerate corporation announced launching its new superior quality industrial magnetrons for applications such as dry processing and microwave light emission. A slew of such new product launches is estimated to favor the growth in the market.
As per FMI, the global industrial magnetron market is expected to rise at a CAGR of 5.4% over the forecast period 2022 to 2026.
Growing Application in the Industrial Sector is set to bolster the Industrial Magnetrons Sales
The USA is anticipated to emerge as a most lucrative industrial magnetrons market in North America, assisting the region to account for more than 38.2% of the revenue share by the end of 2022.
Industrial magnetrons are gaining immense popularity across the industrial sector in the USA., owing to their favorable attributes such as high performance, efficiency, and quality. They are finding a wide range of applications across various end-use industries such as heating, drying, and plasma generation processes.
Growing government investment in expanding the industrial sector in the USA. is estimated to accelerate the sales of industrial magnetrons in the forthcoming years.
Growing Production and Sales of Luxury Vehicles to Bolster the Demand for Industrial Magnetrons
As per FMI, Germany is projected to exhibit growth at a robust CAGR in the Europe industrial magnetrons market over the assessment period.
Increasing production and sales of luxury vehicles is the primary factor favoring the growth in the market. According to the French Institute of International Relations, around 70% to 85% of luxury vehicles were manufactured by German automakers, out of which 96% of the premium cars were made in Germany in the year 2019.
As radars and global positioning systems (GPS) incorporated in these luxury cars extensively make use of magnetrons as signal sources for feeding the power to radar transmitters, this rise in production and sales of premium cars are forecast to fuel the demand for industrial magnetrons in Germany. This rise in demand is estimated to assist the Europe market to account for over 29.7% of the sales by 2022.
Surging Consumer Electronics Industry to Elevate the Sales of Industrial Magnetrons
China is forecast to account for a significant share in the Asia Pacific excluding Japan (APEJ) market between 2022 and 2026, reveals FMI.
Rapidly expanding consumer electronics industry and surging demand for semiconductors are bolstering the demand for industrial magnetrons in China. Increasing use of industrial magnetrons in a variety of appliances and devices such as room heaters, microwave ovens, Bluetooth devices, wearable electronics, Wi-fi enabled devices, and others are accelerating the sales in the China market.
In addition, growing emphasis on the launch of miniaturized and lightweight magnetrons by the market players in the country is estimated to assist the APEJ market to account for around 19.1% of the demand share through 2022.
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Focus on High Output Industrial Applications to Fuel Demand for Continuous Wave Industrial Magnetrons
As per FMI, the continuous wave segment is anticipated to continue dominating the global industrial magnetrons market, accounting for more than 2/3rd of the sales between 2022 and 2026.
Manufacturers are increasingly leaning towards using continuous wave industrial magnetrons for high output industrial applications such dry processing, owing to their ability to generate several hundred watts of frequency from a few hundred megahertz frequency is propelling the demand across the segment.
Demand for X Band and Air Cooled Industrial Magnetrons to Remain High
Future Market Insights reveals that the X band segment is projected to account for the dominant share in the industrial magnetrons market. Growing usage of X band industrial magnetrons in radar application including single-polarization, synthetic aperture radar, phased arrays, and others is the primary factor favoring the growth in the segment.
On the basis of cooling type, the global industrial magnetrons market is segmented into air cooled and water cooled. As per FMI, the air cooled segment is expected to register the fastest growth in the market, creating an absolute dollar opportunity of USD 3 Billion by the end of 2026. The water cooled segment is estimated to account for 2/5th of the industrial magnetrons sales over the forecast period.
Increasing Application in Healthcare Sector to Favor the Industrial Magnetrons Market Growth
The medical application segment is projected to register the growth at a rapid CAGR during the assessment period 2022 to 2026.
Growing use of industrial magnetrons in the healthcare sector for applications such as removal of unwanted tissue, structural health monitoring, removal of unwanted tissue, and treatment of large tumors is favoring the growth across the segment.
Apart from this, growing incorporation of industrial magnetrons in heating equipment for moisture reduction and drying process is favoring the sales in the industrial heating equipment segment.
Leading players in the global industrial magnetrons market are aiming at developing new products to expand their product portfolio and gain competitive edge. Other companies are focusing on entering into collaborations, partnerships, mergers, and acquisition with other players to strengthen the global footprint.
For instance,
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2026 |
| Historical Data Available for | 2012 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific excluding Japan; Japan; Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Product Type, Cooling Type, Operating Frequency, Application, and Region |
| Key Companies Profiled | 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. |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is likely to be valued at USD 4.72 Billion in 2022.
The market was valued at a CAGR of 4.9% between 2012 to 2021.
The market is anticipated to record a CAGR of 5.4% through 2026
The influences present high opportunities for players in the North America market.
1. Global Economic Outlook 2. Global Industrial Magnetrons Market - Executive Summary 3. Global Industrial Magnetrons Market Overview 4. Global Industrial Magnetrons Market Analysis and Forecast, 2012 to 2026 5. North America Industrial Magnetrons Market Size and Forecast, 2012 to 2026 6. Latin America Industrial Magnetrons Market Size and Forecast, 2012 to 2026 7. Europe Industrial Magnetrons Market Size and Forecast, 2012 to 2026 8. Japan Industrial Magnetrons Market Size and Forecast, 2012 to 2026 9. APEJ Industrial Magnetrons Market Size and Forecast, 2012 to 2026 10. MEA Industrial Magnetrons Market Size and Forecast, 2012 to 2026 11. Global Industrial Magnetrons Market Company Share, Competition Landscape and Company Profiles 11.1. Panasonic Corporation 11.2. Toshiba International Corporation 11.3. Hitachi Ltd. 11.4. L3 Technologies, Inc. 11.5. MUEGGE GmbH 11.6. Teledyne E2V Limited 11.7. CPI International Inc. 11.8. Richardson Electronics, Ltd. 11.9. MDP Components 11.10. STT International Limited 12. Research Methodology 13. Secondary and Primary Sources 14. Assumptions and Acronyms 15. Disclaimer
Industrial Automation
July 2023
REP-GB-1633
289 pages
Industrial Automation
October 2022
REP-GB-4623
303 pages
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Industrial Magnetrons Market
