San Francisco,4 October 2018: According to a report published by Grand View Research, Inc.; the global industrial microwave heating equipment market is anticipated to reach a valuation of around USD 1.4 billion by 2025. Increasing implementation of magnetrons and Radio Frequency (RF) solid state amplifiers in various end-use industries like food, plastic, paper, and wood can propel market growth during the forecast period (2014 to 2025). In addition, increasing government regulations related to safe use of the equipment can positively impact the market.
Industrial microwave heating equipment reduces over-processing, overheating, and scorching. They also provide instantaneous heating control and are considered eco-friendly as they do not produce combustion byproducts. The equipment has applications including tempering and blanching, drying and sterilizing, foaming plastic materials, rubber curing and tire pre-heating, final drying at paper making, polymerization, and drying synthetic and coated paper. All these factors are anticipated to drive the market demand over the forecast period.
The worldwide industrial microwave heating equipment market can be segmented on the basis of equipment, end-use, and region. Based on equipment, the market can be bifurcated into magnetrons and RF solid state amplifiers. The RF solid state amplifiers segment is expected to expand at a CAGR of around 13.0% over the forecast period. High demand from various end-use industries is anticipated to spur the market growth in the forthcoming years. These amplifiers offer better operating life, frequency tuning, fast frequency hopping, and high precision output power control. Frequent technological developments are expected to bode well for the adoption of this product in near future.
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As per end-use, the market for industrial microwave heating equipment can be fragmented into food, paper, plastics, chemicals, wood and derivatives, and others. In 2016, food industry acquired the largest market share and is likely to grow at a CAGR of close to 7.0% during 2017 to 2025. Extensive usage in food industry due to versatile applications in cooking, sterilizing, drying, foaming, tempering, and blanching can propel segment growth.
The plastic segment is expected to expand at a CAGR of over 6.0% during the estimated period. Rising applications in drying casting cores, melting optical fibers with high polypropylene content, preheating plastic profiles, and heating epoxide pipes/tubes and heat-shrinkable molded parts are expected to impel demand over the forecast period.
Geographically, the market for industrial microwave heating equipment can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, Europe accounted for the largest market share with around 34.0%. It is expected to display significant expansion at around 6.0% CAGR during the forecast period. This growth is attributed to rapid industrialization and implementation of strict government regulations regarding use of microwaves/RF equipment in industrial processing. This region is home to various technology-driven nations and is likely to witness exponential rise in adoption of RF solid-state amplifiers in the years to come.
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In 2016, North America and Asia Pacific collectively accounted for over 50% of the overall market share. Both the regions are expected to register significant CAGR during the forecast period. This growth can be accredited to availability of chemical, paper, and food companies. Middle East and Africa and Latin America are expected to exhibit considerable growth over the forecast period.
Key players operating in the industrial microwave heating equipment market include Toshiba Hokuto Electronics Corporation, Communications & Power Industries LLC, Richardson Electronics, Ltd., Muegge GmbH, and L3 Electron Devices. Major companies are increasingly investing in research and development activities to provide energy efficient and affordable products. They are also focusing on inorganic growth strategies like mergers and acquisitions and joint ventures to sustain market competition and gain higher profit margins. Market players are also trying to maintain their position in global scenario through enhanced distribution channels and services.
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