The global magnetron market was valued at around $16 billion in 2015 and is expected to surpass $21 billion by 2020, says Technavio.
Technavio has announced its latest market research report on magnetron during the forecast period, 2016-2020. This market analysis, under the semiconductor equipment vertical, discusses the major drivers and key emerging trends that will influence the growth of the global magnetron market during the forecast period. Some of the top vendors listed in this industry analysis include e2v, Samsung, and LG.
In terms of geographical analysis, the Americas will be the largest region in the global market, and is expected to reach revenues of close to $10 billion by 2020. US and Canada will emerge as the key revenue-generators.
“The increasing need for connectivity-enabled smart appliances is increasing the demand for smart microwave oven across the globe, especially in the US. The increased sales of smart microwaves are directly proportional to the high sales of magnetrons. The end-users are looking for connected devices that integrate with the end user’s smartphone and has the functionality of remote monitoring. The introduction of smart ovens with better connectivity are energy-efficient, and have user-friendly interfaces will promote the growth in this market,” says Navin Rajendra, a lead analyst at Technavio for research on semiconductor equipment.
Click here to request a free sample of this report
The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Home improvement, kitchen design, and style projects encouraging purchase of built-in forms
The US is the largest market for cost-effective home and kitchen designs and rising preference for modular kitchens, and sleek appliances are aiding in the growth of built-in oven models in this market. The concept of smaller and compact homes is encouraging consumers to opt for a built-in microwave oven that is easy to maintain. The new home decoration and modernization trend will boost the sales of magnetrons in the home appliance sector.
Multifunctional and pre-programmed cooking options
The launch of multifunctional microwave ovens that is used for several applications which include cooking, baking, and grilling will revolutionize the market. Some of these ovens are designed as convection models that have inbuilt baking grills and pre-programmed options for ease of operation. The vendors are introducing multiple one-touch settings that offer a wide range of functions to the end-users and help in boosting the sales of devices in the market.
Increasing adoption of X-band radars in communication systems for marine, military, and space applications
X-band radar systems are used for precise and accurate detection of the object and are also known as a super high-frequency spectrum (SHF). Magnetrons are an integral part of the radar system for the generation of high-frequency electromagnetic waves. The extensive use of these systems in the military applications will boost the demand in the market. These systems play an important role in military operations in protecting against nuclear events, countering threats, and jamming attacks.
Other prominent vendors identified in this report are Bosch, Breville Group, Dongbu Daewoo Electronics, Frigidaire, FURUNO, Galanz, Haier, New Japan Radio (NJR), Midea, Panasonic, Richardson Electronics, Sharp, Toshiba, TurboChef, and Whirlpool.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Magnetron Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Oven Market 2017-2021
- Global Smart Oven Market 2016-2020
- Global Wall Oven Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
