The
growing adoption of industrial microwave heating in food and beverage, and
pharmaceutical sectors is expected to support the Industrial Microwave Heating
market growth. The increasing requirement for even heating while increasing
production speeds and reducing production costs drives the demand for
industrial microwave heating. The growing trend towards use of energy efficient
microwave heating is expected to boost the growth of the industrial microwave
heating market.
The Industrial Microwave Heating market is anticipated
to reach over 1,602.1 million by 2026 according to a new research published by
Polaris Market Research. In 2017, the Magnetron segment dominated the global
market, in terms of revenue. Europe is expected to be the leading contributor
to the global market revenue during the forecast period.
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The
diverse applications of Industrial Microwave Heating in industries such as
pharmaceutical, plastic, chemical, paper, and food and beverages among others
are expected to support the growth of this market. Other driving factors
include lower maintenance costs, higher operating efficiency, and reduced power
consumption. However, increasing prices of electricity hamper the growth of the
market. Growing demand from emerging economies, and technological advancements
are factors expected to provide numerous growth opportunities in the coming
years.
The
Europe Industrial Microwave Heating Market generated the highest revenue in
2017, and is expected to lead the global market throughout the forecast period.
The presence of established industries such as pharmaceutical, plastic, paper,
and wood among others, substantial initiatives in research and development, and
favorable government policies drive the market growth. Rapid industrialization
and growth of manufacturing industry further support the Industrial Microwave
Heating market growth in the region.
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The
different applications of Industrial Microwave Heating include pharmaceutical,
plastic, chemical, paper, food and beverages, and others. In 2017, the food and
beverages segment accounted for the highest market share owing to the
increasing demand for drying, sterilizing, and mold-proofing of food products.
Microwave heating is also used for cooking, foaming, blanching, and drying processes
for manufacturing of foods and beverages.
The
leading companies profiled in the Industrial Microwave Heating Market report
include Hitachi
Power Solutions Co., Ltd., Muegge GmbH, Teledyne e2v Limited, Industrial
Microwave Systems Ltd., CoberMuegge LLC, Communications & Power Industries
LLC (CPI), L3 Technologies, Inc., Richardson Electronics, Ltd., MDP Components,
STT International Limited, Panasonic Corporation, and Toshiba International
Corporation. These companies launch new products and collaborate with other
market leaders to innovate and launch new products to meet the increasing needs
and requirements of consumers.
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Polaris Market Research
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