Cryocooler Market:
The GMI Research’s latest analysis reveals that the Cryocooler Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising production of liquefied natural gas, the increasing medical & healthcare services in developing countries, the strong adoption of cryocooler in the semiconductor industry, the constant lack of helium gas.
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Cryocooler Market’s leading Manufacturers:
- Chart Industries, Inc.
- Brooks Automation, Inc.
- Sumitomo Heavy Industries Ltd.
- Cryomech, Inc.
- Sunpower, Inc.
- Northrop Grumman Corporation
- Advanced Research Systems, Inc.
- Janis Research Company, LLC
- Superconductor Technologies Inc.
- Ricor, Ltd.- Cryogenic & Vacuum System
Cryocooler Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The rising production of liquefied natural gas, the increasing medical & healthcare services in developing countries, the strong adoption of cryocooler in the semiconductor industry, the constant lack of helium gas are the key drivers contributing to the growth of the cryocooler market size. As per the cryocooler market report, the high adoption of cryocooler in a broad range of sectors, including energy, medical, transportation, and military, will further surge the growth of the cryocooler market share in terms of revenue. In addition to this, the strong adoption of cooling IR sensors and superconducting applications, the rising demand for cryogenic refrigeration in various space applications, and the increasing innovation of cryocoolers for microsatellite military applications are certain factors that are predicted to fuel the growth of the market over the upcoming years. According to the cryocooler market analysis, the factor hindering the growth of the market include the high input power consumption of cryocoolers.
Application Segment Drivers
Based on the application, the military is anticipated to rise at a higher CAGR over the forecast period due to the strong adoption of cryocooler in cooling Infrared (IR) sensors, which are particularly utilized in the military sector as it cooling down the IR sensor to about 80 Kelvin. Furthermore, the strong demand for missile detection and night vision surveillance from satellites has increased the adoption of cryocoolers in the military, which will further propel the growth of the market over the forecast period. In addition to this, cryocooler is largely utilized in high-end systems & detectors like thermal weapon sights, scaled-downed payloads, missile warning systems will further bolster the market growth.
Type Segment Drivers
Based on the type, the Stirling cryocooler is predicted to rise at a faster CAGR over the coming years due to the strong adoption of Stirling cryocooler for numerous applications, including military, medical, commercial, and research, and development. Additionally, the growing expenditure by developing economies that include China, Malaysia, India, and Thailand on several industries, such as medical, semiconductor manufacturing, and military, is further supporting the growth of the market in the coming years.
Regional Drivers
Based on the region, North America is anticipated to dominate the market in the coming years due to the well-established military sector and the strong adoption of cryocooler in medical cryosurgery and photon therapy. Furthermore, the growing installation of cryogenic technology in aircraft carriers will further stimulate the market demand.
Cryocooler Market Segmentation:
Segmentation by Hardware and Service:
- Hardware
- Compressors
- Cold heads
- Heat dissipation pipes
- Power conditioning units
- Others
- Services
- Technical support services
- Product repairs & refurbishment services
- Preventive maintenance services
- Customer training services
Segmentation by Type:
- Gifford-McMahon cryocoolers
- Pulse-Tube cryocoolers
- Stirling cryocoolers
- Joule Thomson cryocoolers
- Brayton cryocoolers
Segmentation by Temperature Range:
- 1K–50K
- 50K–100K
- 100K–300K
- others
Segmentation by Heat Exchanger Type:
- Recuperative heat exchangers
- Regenerative heat exchangers
Segmentation by Application:
- Military
- Ir sensors for missile guidance
- Ir sensors for satellite-based surveillance
- Medical
- Cooling superconducting magnets for MRI systems
- Liquefaction of oxygen for storage
- Cryosurgery
- Commercial
- Semiconductor fabrication
- High-temperature superconductors for cell-phone base stations
- Ir sensors for nde and process monitoring
- Environmental
- Ir sensors for atmospheric studies on ozone hole and green house effects
- Ir sensors for pollution monitoring
- Energy
- Ir sensors for thermal loss measurements
- Superconducting magnetic energy storage for peak shaving
- Transport
- Superconducting magnets in maglev trains
- Lng for fleet vehicles
- Research and Development
- Nuclear Magnetic Resonance (NMR)
- Electron Paramagnetic Resonance (EPR)
- Space
- Space Astronomy
- Planetary Science
- Agriculture & Biology
- Storage of biological cells and specimens
- Mining and Metal
- Tempering
- Shrink Fitting
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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