Industrial Microwave Heating Equipment Market Worth USD 1.4 Billion By 2025
The global industrial microwave heating equipment market size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% during the forecast period. Increasing adoption of magnetrons and RF solid state amplifiers in various end-use industries such as food, paper, plastic, and wood and derivatives is anticipated to positively affect market growth. These high-efficiency products are poised to witness significant rise in demand in the coming years owing to their long operating life, low maintenance requirements, and low power consumption.
Surging demand for RF solid state amplifiers is estimated to drive the overall market. They are likely to replace magnetrons over the forecast period due to benefits they offer, such as enhanced operating life, high precision output power control, frequency tuning, and fast frequency hopping. Moreover, the product has undergone several technological advancements over the past few years, which has led to its increased demand.
The industrial microwave heating equipment market is projected to witness remarkable growth over the forecast period owing to rising adoption of the equipment in varied applications across different end-use industries. Some of the applications include drying coated paper and/or synthetic paper, drying chemicals and pigments, puffing and vacuum drying, and rubber curing and tire pre-heating.
Furthermore, growing government regulations pertaining to safe usage of industrial microwave heating equipment continue to be one of the key growth stimulators for the market. Governments have established standards for maximum permissible emissions as well as equipment design and operation. For instance, the Federal Communications Commission (FCC) has assigned frequencies for microwave food processing.
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Further key findings from the study suggest:
- The industrial microwave heating equipment market was valued at USD 890.2 million in 2016 and is expected to post a CAGR of 5.6% over the forecast period, owing to growing adoption of RF solid state amplifiers in various end-use industries
- The RF solid state amplifiers segment is anticipated to the rise at a phenomenal CAGR of 13.0% during the forecast period, owing to factors such as increased operating life, high-precision output power control, low maintenance, and fast frequency tuning and hopping
- Magnetrons and RF solid state amplifiers are widely adopted in the food industry, owing to their usage in diverse applications including cooking and foaming, drying and sterilizing, and tempering and blanching. The industry will be the fastest growing end-use segment, registering a CAGR of 6.9% during the forecast period
- Europe represented the leading market share of approximately 34.0% in 2016 and is estimated to witness substantial growth over the forecast period, owing to rising industrialization and stringent government regulations
- Key players such as Communications & Power Industries LLC, L3 Electron Devices, Muegge GmbH, Richardson Electronics, Ltd., and Toshiba Hokuto Electronics Corporation dominated the market in 2016 and focus on strengthening their presence through mergers and acquisitions.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.