Industrial Microwave Heating Equipment Market To Touch $1.77 Billion By 2027 Based on Rising Awareness Regarding Industrial Pollution | Million Insights
The global Industrial Microwave Heating Equipment Market size is anticipated to value USD 1.77 billion until 2027. It is also expected to register a CAGR of 6.21% over the forecasted years, 2020 to 2027. The increasing need for lowering operational and maintenance costs coupled with surging awareness about industrial pollution is projected to drive the market growth.
The magnetrons equipment segment accounted for a dominant share in 2019. But, the RF solid-state amplifier equipment segment is projected to register a CAGR of more than 10.0% from 2020 to 2027 owing to enhanced features like more volumetric heating, quick heat transfer and higher shelf life.
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The food segment dominated the global market in 2019 owing to the rising usage of this equipment to carry out processes like blanching, tempering, puffing, foaming, cooking, and sterilizing. On the other hand, the plastic segment is expected to hold 6.0% CAGR from 2020 to 2027 on account of the adoption of heating equipment for processes like optical fiber melting, drying of casting cores, and preheating of plastic profiles.
In 2019, Europe accounted for the highest share across the global industrial microwave heating equipment market due to the imposition of favorable policies by governing bodies for curbing industrial pollution. While, North America and the Asia Pacific also accounted for substantial share across the global market owing to the increasing presence of chemical, food, and paper industries.
The market includes key players such as Muegge GmbH, Richardson Electronics, Ltd., Teledyne e2v Limited, CoberMuegge LLC, and L3 Electron Devices. They are continuously focusing on innovation and product development to launch a variety of products as per the customized requirements of clients.
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Further key findings from the report suggest:
• The RF solid-state amplifier equipment segment is expected to register highest CAGR in the upcoming years.
• In 2019, the food end-use segment dominated the global market.
• Europe accounted for the highest share across the global market in 2019.
• The key players in this market are Muegge GmbH, Richardson Electronics, Ltd., Teledyne e2v Limited, CoberMuegge LLC, and L3 Electron Devices.
Million Insights has segmented the global industrial microwave heating equipment market on the basis of equipment, end use and region:
Industrial Microwave Heating Equipment Outlook (Revenue, USD Million, 2019 – 2027)
• RF Solid State Amplifiers
Industrial Microwave Heating Equipment End-Use Outlook (Revenue, USD Million, 2019 – 2027)
• Wood & Derivatives
Industrial Microwave Heating Equipment Regional Outlook (Revenue, USD Million, 2019 – 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa
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