Cryocooler Market Share, Size, Structure, Demands, Challenges and Opportunities by 2022-2027
Looking forward, IMARC Group expects the global cryocooler market to reach US$ 4.0 Billion by 2027, exhibiting a CAGR of 6.4% during 2022-2027.
STE R SHERIDAN, WYOMING, UNITED STATES, August 1, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Cryocooler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 2.8 Billion in 2021. A cryocooler refers to a standalone mechanical refrigerator that is used for active cooling at extremely low temperatures. It utilizes cryogenic fluids with nitrogen, hydrogen, and helium gases circulating in a thermodynamic cycle. The fluid is precooled in a heat exchanger, compressed at room temperature, and expanded at low temperatures. Cryocoolers are widely available in numerous variants, such as pulse-tube, Brayton, Stirling, Gifford-Mahon, Joule-Thomson, etc. They are compact, vibrationless, energy-efficient, and require minimal maintenance. Consequently, cryocoolers find extensive applications across several industries, such as medical, mining, military, aerospace, etc.
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The growing demand for efficient cooling systems to produce superconductors, magnets, power systems, etc., is primarily driving the cryocooler market. Moreover, the increasing adoption of closed-loop cryocoolers for operating infrared (IR) sensors, detectors, thermal cameras, night vision systems, etc., is also bolstering the global market. In addition to this, the elevating product utilization for maintaining low temperatures while operating surgical probes and magnetic resonance imaging (MRI) systems is acting as another significant growth-inducing factor. Furthermore, various product innovations, including the development of space cryocoolers that can withstand launch vibrations, are also catalyzing the market growth. Besides this, the rising adoption of cryogenically cooled low-noise amplifiers in cellular telephone base stations, coupled with extensive R&D activities, are expected to fuel the cryocooler market over the forecasted period. Looking forward, IMARC Group expects the global cryocooler market to reach US$ 4.0 Billion by 2027, exhibiting a CAGR of 6.4% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
Advanced Research Systems Inc.
Air Liquide S.A.
AMETEK Inc.
Brooks Automation Inc.
Chart Industries Inc.
Cryomech Inc.
Honeywell International Inc.
Lake Shore Cryotronics Inc.
Northrop Grumman Corporation
RICOR Cryogenic & Vacuum Systems
Sumitomo Heavy Industries Ltd.
Superconductor Technologies Inc.
Thales Group.
Market Segmentation:
Breakup by Type:
Pulse-Tube
Gifford-McMahon
Joule-Thomson
Brayton
Stirling
Breakup by Heat Exchanger Type:
Recuperative Heat Exchangers
Regenerative Heat Exchangers
Breakup by Operating Cycle:
Open-Loop Cycle
Closed-Loop Cycle
Breakup by Temperature:
1K-5K
1K-10K
1K-50K
1K-100K
1K-300K
Breakup by Application:
Space
Healthcare
Military and Defense
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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