Pune, India, Sept. 26, 2022 (GLOBE NEWSWIRE) — The world microwave appliance market the size was $5.85 billion in 2021. The market size is expected to grow from $6.09 billion in 2022 at $9.88 billion by 2029 to a 7.15% CAGR during the forecast period. According to the report, the market is expected to increase over the forecast period owing to the growing demand for medical instruments equipped with microwave devices. Fortune Business Insight™ shares this information in a report titled, “Microwave Appliances Market, 2022-2029”.
Impact of COVID-19:
Supply chain disruptions amid pandemic hampered market growth
The COVID-19 outbreak has negatively impacted the growth of microwave appliances market due to supply chain disruptions and revised import/export policies. In addition, the government has imposed strict restrictions on transportation and travel activities, hampered the supply of essential raw materials, and affected the production and manufacturing rate of major enterprises. Additionally, businesses have started to recover due to the growing demand for microwave solutions.
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List of Key Players Featured in the Report:
- Analog Devices Inc. (USA)
- Communications & Power Industries LLC (USA)
- General Dynamics Corporation (USA)
- Kratos Defense & Security Solutions, Inc. (USA)
- L3Harris Technologies, Inc. (USA)
- MACOM Technology Solutions Inc. (USA)
- Microsemi Corporation (USA)
- Microwave Technology, Inc. (UK)
- Qorvo Inc. (USA)
- Richardson Electronics, Ltd. (United States)
- Teledyne Technologies Incorporated (USA)
- Thales Group (France)
- TMD Technologies Ltd (UK)
- Toshiba Corporation (Japan)
- Cytec Corporation (USA)
Report Scope and Segmentation:
|2029 value projection||$9.88 billion|
|Microwave Appliances Market Size in 2021||$5.85 billion in 2021|
|Number of pages||230|
|Segments Covered||By type of analysis, by frequency analysis, by end-use industry analysis|
|Microwave Devices Market Growth Drivers||Increase in demand for enhanced communication services to support market growth|
Browse Detailed Abstract of Research Report with TOC:
Impact of the Russia-Ukraine war:
The crisis of the Russian-Ukrainian war affected the avionics and electronics industry on a global scale. The closure of national borders has affected the supply of essential electronic devices and semiconductors required by the aviation sector. In addition, Ukraine is the largest supplier of noble gas neons and semi-conductor grade neon tubes. The crisis of the war has affected the supply chain of these gases from Ukraine to other countries.
Active segment to dominate the market owing to growing demand for network and telecom services
By type, the market is split into active and passive. The active segment is expected to hold a dominant share in the global market owing to the growing demand for these devices in telecommunications and networking services.
Increase Ku-band adoption to drive segment growth
Based on frequency, the market is divided into Ku band, Ka band, S band, C band, X band, L band and others. The Ku-Band segment dominates the market share owing to its growing adoption of space and defense applications over the forecast period.
Growing demand for telecommunications services to support sector growth
Based on end-use industry, the market is segmented into telecommunications, space, defense, industrial, healthcare, and others. Growing demand for telecommunications services is expected to fuel sector growth.
Finally, by geography, the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Major Industry Developments – Major Contracts and Agreements, Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Quantitative Insights – Impact of COVID-19 Pandemic on Global Microwave Devices Market
- Impact of the COVID-19 Pandemic on the Global Microwave Devices Market
- Measures taken by industry/business/government to overcome the impact
- Key development in the industry in response to the COVID-19 pandemic
- Potential opportunities due to the COVID-19 outbreak
The report provides comprehensively analyzed data regarding recent developments and market trends, including the impact of the COVID-19 pandemic. In addition, the current commodity crisis between Russia and Ukraine is discussed later in this report. Drivers and restraints affecting the growth of the global market over the forecast period are highlighted, along with regional insights into segmented market areas. A list of major market players is mentioned later in this report.
Drivers and constraints:
Increase in demand for enhanced communication services to support market growth
The market is predicted to witness rapid growth over the projected period owing to the growing demand for 5G network services across various industries. Additionally, the growing demand for medical instruments equipped with microwave devices is expected to fuel the growth of the market in the coming years. Additionally, the growing need for enhanced communication services is expected to drive the global market.
However, the high risk of communications jamming might hamper the growth of the market in the coming years.
North America dominates the global market share owing to the growing adoption of advanced communication services
North America led the global microwave appliance market share in 2021. The regional market stood at USD 1.95 billion in 2021. This is attributed to the increasing adoption of advanced communication systems in the aviation, defence, commercial and industrial sectors.
Europe is expected to grow at a substantial CAGR over the forecast period owing to the increase in semiconductor production and usage in the healthcare, automotive and manufacturing sectors in the Kingdom UK, Germany and France.
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Launching new products enables companies to propel growth
The major players are focusing on implementing several strategies to improve their business performance. These strategies include forming strategic alliances, collaborations and partnerships. Moreover, the introduction of new products and the recognition of these launches allow key players to improve their brand value globally.
Industry key development:
- May 2021: Samsung awarded Qorvo the Best Quality award in the Mobile Communications Business Division. The award recognizes Qorvo’s continuous quality improvement on Samsung Galaxy 21 platform projects.
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