According to a new market research report published by Acute Market Reports, the market for industrial magnetrons is set to grow with a CAGR of 5.4% over the forecast period.
Market Insights
The global market for industrial magnetrons is driven by an increasing demand for the generation of plasma. Magnetrons are widely used across industrial installations to reduce moisture and to enable several types of rubber and plastic material to be used for coating applications. In addition, the increasing demand for microwave heating across manufacturing facilities serves as a major driving force for the demand for industrial magnetrons.
Browse Full Report Originally Published by Acute Market Reports @ https://www.acutemarketreports.com/report/industrial-magnetrons-market
In addition, favorable government initiatives for industrial heating are increasing the growth of the market. However, the increasing adoption of a solid-state oscillator is acting as an inhibitor of market growth. Over the last five years, the solid-state oscillator has emerged as one of the most prominent alternatives for industrial magnetrons due to its energy efficiency and durability.
The industrial magnetron market is bifurcated, based on the operating frequency market, into the L band, S band, C band, X band and Ku & Ka band. X-band accounted for 35% of the market share of industrial magnetrons due to the large-scale adoption of radar systems. On the other hand, the Ku & Ka band is projected to grow significantly during the forecast period. The growth of the market is driven by technological advances and rising R&D activities among market players.
Asia Pacific is projected to become the most lucrative industrial magnetron market region with a CAGR of more than 7% over the forecast period. Rapid industrialization in the emerging economies of the region is the primary driver of market growth. The growing demand for safe industrial heating processes also accelerates the adoption of industrial magnetrons in the region. In addition, the government’s support initiative in the region is fueling market growth.
Key players in the industrial magnetrons market are Bosch GMBH, CPI International Inc., Haier Group Corporation, Hitachi Ltd., L3 Technologies Inc., MDP Components, MUEGGE GmbH, Panasonic Corporation, Richardson Electronics Ltd., Sharp Corporation, STT International Limited, Teledyne E2V Limited, and Toshiba International Corporation.
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