Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) — The “Magnetron – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Magnetron Market to Reach $5.9 Billion by 2030
The global market for Magnetron estimated at US$4.5 Billion in the year 2022, is projected to reach a revised size of US$5.9 Billion by 2030, growing at a CAGR of 3.4% over the analysis period 2022-2030. Home Appliances, one of the segments analyzed in the report, is projected to record 3.7% CAGR and reach US$4.2 Billion by the end of the analysis period. Growth in the Other End-Uses segment is estimated at 2.6% CAGR for the next 8-year period.
The report on the magnetron market highlights its sustainable growth driven by expanding applications and strong demand for smart home appliances. It begins with an overview of the global economic situation and discusses how the COVID-19 pandemic unexpectedly benefited microwave ovens.
The report also touches upon the demand-supply gap in the home appliances market and how it relates to the magnetron market. Competitive analysis is provided, including the percentage market share of key competitors in the magnetron market in 2023 and an assessment of their competitive market presence on a global scale.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 5.6% CAGR
The Magnetron market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 5.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 262 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $4.5 Billion |
| Forecasted Market Value (USD) by 2030 | $5.9 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Rise in Use of Microwave Ovens Benefits Demand for Magnetron
- Proliferation of Smart Homes at an Accelerating Pace Drives Consumption of Smart Appliances, Hence Driving the Need for Magnetron Technology Advancements
- Adoption Rate (in %) for Global Smart Homes: 2017-2025
- Return to Economic Normalcy Reignites Growth in Smart Homes to Push Opportunities for Smart Home Appliances
- Growing Number of Smart Homes Catalyzes the Creation of Smart Appliances: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Age of Smart Ovens Drives Magnetron Capabilities
- Smart Inverter Technology Garners Attention
- Solid-state Devices yet to Threaten the Status of Magnetrons in Microwave Ovens
- Rise in Defense Spending Amid Rising Geopolitical Unrest to Benefit Demand for Magnetrons
- World Military Expenditure in US$ Billion (2015-2022)
- Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Increased Spending on Critical Communication Systems: Military Spending by Top Countries in 2022 (In US$ Billion)
- Industrial Magnetrons: Notable Applications & Threat Posed by Alternatives
- Why Solid State Technology is Gaining Attention
- Key Advantages of Solid-State Microwave Generators Over Magnetron Generators
- Magnetrons Find Added Opportunities in Marine and Coastal Surveillance
- Seaborne Trade Outlook: Projected Seaborne Trade Volume in Billion Tons for the Years 2020, 2025, 2030 and 2035
- Magnetrons in Non-Destructive Testing Of Civil Infrastructure
- Sustained Demand for Linear Accelerators (LINACs) Drives Opportunities for Magnetometers
- Magnetrons Find Added Opportunities in Marine and Coastal Surveillance
- Select Innovations and Developments
FOCUS ON SELECT PLAYERS(Total 59 Featured)
- BSH Home Appliances Corporation – Bosch
- Communications & Power Industries LLC
- Hitachi High Technologies America, Inc.
- L3Harris Technologies, Inc.
- Midea Group Co., Ltd.
- MUEGGE GmbH
- Richardson Electronics, Ltd.
- STT International Limited
- Teledyne e2v Ltd
- Toshiba Hokuto Electronics Corporation
- Whirlpool Corporation
For more information about this report visit https://www.researchandmarkets.com/r/26547j
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