The preference for the axial dipole in planetary dynamos is investigated through the analysis of wave motions in spherical dynamo models. Our study focuses on the role of slow magnetostrophic waves, which are generated from localized balances between the Lorentz, Coriolis and buoyancy (MAC) forces. Since the slow waves are known to intensify with increasing field strength, simulations in which the field grows from a small seed towards saturation are useful in understanding the role of these waves in dynamo action. Axial group velocity measurements in the energy-containing scales show that fast inertial waves slightly modified by the magnetic field and buoyancy are dominant under weak fields. However, the dominance of the slow waves is evident for strong fields satisfying |ω M /ω C | ∼ 0.1, where ω M and ω C are the frequencies of the Alfvén and inertial waves respectively. A MAC wave window of azimuthal wavenumbers is identified wherein helicity generation by the slow waves strongly correlates with dipole generation. Analysis of the magnetic induction equation suggests a poloidal-poloidal field conversion in the formation of the dipole. Finally, the attenuation of slow waves may result in polarity reversals in a strongly driven Earth's core.