The report "Global Industrial Microwave Heating Equipment Market, By Equipment (Magnetron and RF Solid State Amplifiers), By End-Use Industry (Food, Paper, Wood and Derivatives, Plastic, Chemical, and Others), and Region - Global Forecast to 2029" Global industrial microwave heating equipment market is projected to grow from US$ 933.1 million in 2020 to US$ 1486.6 million by 2029. Rapid industrialization, along with growing demand for industrial microwave heating equipment from food and chemical industry across the globe are major driving factor for the growth of the global Industrial microwave heating equipment market. In addition, growing demand for industrial microwave heating equipment from plastic industry owing to its immense applicability in order to melt high polymers, dry casting cores, and other materials is a factor expected to fuel growth of the global market in the near future. Furthermore, a benefit of microwave heating equipment such as uniform heat distribution which is not achievable with traditional heating methods in the product from wood industry is further expected to drive growth of the target market.
Increasing research and development activities by manufacturers in order to adopt energy-efficient products is expected to create lucrative growth opportunities for players operating in the global industrial microwave heating equipment market in the near future.
Key Market Insights from the report:
The global industrial microwave heating equipment market accounted for US$ 933.1 million million in 2020 and is projected to register a CAGR of 5.3% over the forecast period. The market report has been segmented on the basis of equipment, end-use industry, and region.
- By equipment, the magnetron segment accounted for major revenue share in 2018. This is attributed to ability of magnetron to achieve good operating economy in a microwave heating system by turning most of the dc input power into microwave output power.
- By end-use industry, the food segment is accounted for major revenue share in 2018 due toincreasing adoption of microwave heating equipments for various food process such as cooking and foaming, mold-proofing, drying and sterilizing, and puffing and vacuum drying processes.
- By region, Asia Pacific industrial microwave heating equipment market accounted for major revenue share in the global industrial microwave heating equipment market and is further anticipated to maintain its dominance over the forecast period. This is attributed to presence of well established microwave heating equipment industries in the countries in the region. Increasing demand for microwave heating equipments from chemical as well as plastic industry, along with the presence of prominent market players operating in this region are some among the major factors expected to support growth of the North America market over the forecast period. The market in Asia Pacific is expected to account for second-highest revenue share in 2019
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Industrial Microwave Heating Equipment Market”, By Equipment (Magnetron and RF Solid State Amplifiers), By End-Use Industry (Food, Paper, Wood and Derivatives, Plastic, Chemical, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa)- forecast till 2029
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The prominent player operating in the global industrial microwave heating equipment market includes CoberMuegge LLC., Communications Power Industries LLC, Hitachi Power Solutions Co., Ltd., Industrial Microwave Systems Ltd., L3 Technologies, Inc., Muegge GmbH, Richardson Electronics, Ltd., Teledyne e2v Limited, Toshiba Hokuto Electronics Corporation, and Kanchan International Limited.
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