Global Cryocooler Market was valued US$ 2.3Bn in 2017, and is expected to reach US$ 3.9Bn by 2026, at CAGR of 6.82% during forecast period.
A cryocooler is a mechanical device which generates low temperature owing to compression and expansion of a gas. Cryocoolers capable of producing temperatures as low as 77 K or else 4.2 K are used to replace the cryogens. Cryocoolers are used in space, gas, medicine, superconductivity etc. applications.
Growing demand for medical systems is driving the growth of this market. Also increasing demand for cryocoolers across the military and healthcare sectors has been boosting the global cryocoolers market. Owing to the scarcity of helium, most of the consumers are tending to shift towards cryocoolers from open cycle cryostats, which is generating opportunities for the cryocooler market. A significant number of advancements to cryocoolers have already been done in past years, which allowed numerous applications of cryogenics to embellish and find their way into the market.
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Aerospace and defence industry has been boosting the cryocoolers market globally. The cryocoolers market are being used in this industry to cater to the individual demands of military and space applications. The military applications contributed largest to the global cryocooler market, Moreover, a market for space applications is expected to register the highest growth during the forecast period. The cryocooler market has immense growth opportunities with the increasing applications of cryocoolers in the space sector, which is likely to spearhead the global cryocooler market in the upcoming future.
Generally, temperatures below 100K are assumed as cryogenic across the market. Cryocoolers are used in the storage of gases at extremely low temperatures. The incessant advancements in the field of cryocoolers are opening a whole new range of applications in the numerous industrial domains.
Region wise, in North America, the cryocooler market has been registering significant growth due to the increasing adoption of cryocoolers for proton therapy in the treatment of cancer. Cryocoolers market is being also used for satellite monitoring and missile guidance in the military sector. The Asia Pacific and Europe are expected to exhibit considerable demand for global cryocoolers market.
Key players operating in the global cryocooler market, Sunpower, Inc., Cryomech, Inc., DH Industries BV, Janis Research Company LLC, Advanced Research Systems, Inc., Sumitomo Heavy Industries Ltd., Chart Industries, Inc., Superconductor Technologies Inc., and Brooks Automation Inc.
Scope of Global Cryocooler Market
Global Cryocooler Market, by Offering
Global Cryocooler Market, by Heat Exchanger
Global Cryocooler Market, by Temperature range
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Global Cryocooler Market, by Industry
Aerospace and Defence
Semiconductor and Electronics
Agriculture & Biology
Mining and Metals
Global Cryocooler Market, by Region
Middle East and Africa
Key players operating in the Global Cryocooler Market
DH Industries BV
Janis Research Company LLC
Advanced Research Systems, Inc.
Sumitomo Heavy Industries Ltd.
Chart Industries, Inc.
Superconductor Technologies Inc.
Brooks Automation Inc.