Global Cryocooler Market – Industry Trends and Forecast to 2028

Market Analysis and Insights : Global Cryocooler Market

Cryocooler market size is valued at USD 3.88 billion by 2028 is expected to grow at a compound annual growth rate of 5.80% in the forecast period of 2021 to 2028. Data Bridge Market Research report on cryocooler provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

A cryocooler is a type of mechanical device which is used to produce very-low temperature with the help of compression and expansion of gas. The low temperature is also called as the cryogenic temperature, used for various applications such as superconductivity, super fluidity, densification and low thermal noise.

The high adoption of cryocoolers in NMR equipment, MRI and proton therapy in healthcare sector is expected to influence the growth of cryocooler market over the forecast period of 2021 to 2028. Also the rise in the demand for liquefied natural gas and high rate of depletion of helium are also anticipated to flourish the growth of the cryocooler market. Furthermore, the high adoption of cryocoolers in superconducting magnets, semiconductor industry and power systems and rise in the investments in the defense technology support are also likely to positively impact the growth of the market. Moreover, the rise in the use in military sector to maintain cryogenic temperatures for IR sensors is also expected create a huge demand for cryocooler as well as lifting the growth of the cryocooler market.

However, the high input power consumption of cryocoolers and performance constraints of cryocoolers are expected to act as the major limitations for the growth of cryocooler in the above mentioned forecasted period, whereas the leakage of cryogen gases can challenge the cryocooler market growth in the forecast period of 2021 to 2028.

Likewise, the rise in the need for cryogenic refrigeration for space applications, high demand for cryocoolers with better capabilities and low cost for microsatellite and military applications are expected to create various new opportunities that will lead to the growth of the cryocooler market in the above mentioned forecasted period.

This cryocooler market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cryocooler market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Cryocooler Market Scope and Market Size

Cryocooler market is segmented on the basis of offering, type, heat exchanger type, operating cycle, temperature range and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• Cryocooler market is segmented on the basis of offering into hardware and service. Hardware has further been segmented into compressors, cold heads, heat dissipation pipes, power conditioning units and others. Services have further been segmented into technical support services, product repairs and refurbishment services, preventive maintenance services and customer training services.
• On the basis of type, the cryocooler market is segmented into gifford-mcmahon cryocoolers, pulse-tube cryocoolers, stirling cryocoolers, stirling cryocoolers and brayton cryocoolers.
• Based on heat exchanger type, the cryocooler market is segmented into recuperative heat exchangers and regenerative heat exchangers.
• The operating cycle segment of the cryocooler market is segmented into open-loop-cycle cryocoolers and closed-loop-cycle cryocoolers.
• On the basis of temperature range, the cryocooler market is segmented into 1K-5K, 5.1K-10K, 10.1K-50K, 50.1K-100K and 100.1K-300K.
• Based on end user, the cryocooler market is segmented into military, medical, commercial, environmental, energy, transport, research and development, space, agriculture and biology, mining and metal and others. Medical has further been segmented into MRI systems, liquefaction of oxygen for storage and cryosurgery and proton therapy. Commercial has further been segmented into semiconductor fabrication, high-temperature superconductors for cellphone base stations and IR sensors for NDE and process monitoring. Transport has further been segmented into superconducting magnets in maglev trains and LNG for fleet vehicles. Research and development has further been segmented into nuclear magnetic resonance and electron paramagnetic resonance. Space has further been segmented into space astronomy and planetary science. Mining and metal has further been segmented into tempering and shrink fitting.

Cryocooler Market Country Level Analysis

Cryocooler market is analyzed and market size, volume information is provided by country, offering, type, heat exchanger type, operating cycle, temperature range and end user as referenced above.

The countries covered in the cryocooler market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America leads the cryocooler market because of the increase in use of cryocoolers in the healthcare sector and rapid rise in the utilization of the systems in the military sector. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to increase in the use of cryocoolers in space, medical, research development, development and military applications.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Cryocooler Market Share Analysis

Cryocooler market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cryocooler market.

The major players covered in the cryocooler market report are Sumitomo Heavy Industries, Ltd., Chart Industries, AMETEK, Inc., Cryomech Inc., Northrop Grumman, Advanced Research Systems, Inc., RICOR, Superconductor Technologies, Inc., Air Liquide, Oxford Cryosystems, Creare, Lihan Cryogenic Technology Co., Ltd., Tristan Technologies, Inc., Vacree Technologies Co., Ltd., Honeywell International LLC, Fabrum Solutions, Acme Cryogenics, Brooks Automation Inc., Thales Cryogenics and L3HARRIS, INC., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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