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The market size for cryocoolers was estimated at USD 2.8 billion in 2022. A compound annual growth rate (CAGR) of 8.10% is anticipated for the Cryocooler market Heat Exchanger from 2023 to 2030, from USD 3.0 billion to USD 5.2 billion. More typically, cryocoolers are used to cool down semiconductors, superconducting magnets, and power systems. The primary market factors boosting market expansion are the increased demand for liquefied natural gas and the rapid depletion of helium.
Thanks to ongoing R&D and technological improvements, cryocoolers are being utilised more frequently in the healthcare sector for a number of applications, such as proton treatment, NMR equipment, and MRI. This is expected to stimulate market growth. A recent study from Brigham and Women's Hospital found a sharp rise in the incidence of cancer among people under 50. The use of proton therapy is expanding as a result of the global increase in cancer incidence. Cryocoolers are then more in demand as a result of this. As a result of limits and disruptions in the manufacturing supply chain, prices for industrial machinery and equipment immediately surged. The cryocoolers market started to grow again in 2021. However, market fluctuations in the start of 2022 were brought on by the Russia-Ukraine conflict. However, it is anticipated that the market would significantly expand throughout the course of the projected time.
Cryocoolers are now utilised commercially in the United States to cool the high-temperature superconducting magnets used in cell phone stations. High-Temperature Superconducting (HTS) filters are used in these superconducting receivers to produce extremely tiny band-reject filters or bandpass filters with extremely steep skirt slopes. These receivers improve call quality, let the base station handle more calls, and enable it to hear a phone from a further distance when used with cryogenically cooled low-noise amplifiers. Four American companies—Conductus, Illinois Superconductor, Superconducting Technologies, and Spectral Solutions Inc.—offer this technology. driving the market revenue for cryocoolers.
According to Type, the Cryocooler Market is segmented into Gifford-McMahon, Pulse-Tube, Stirling, Brayton, and Joule-Thomson. The Gifford McMahon sector had the highest revenue share in 2022 and is expected to dominate the market for the foreseeable future. This might be because of the cryocooler's unique features and inexpensive cost. Cryogenic systems for various types of scientific research, low-performance nitrogen liquefiers, cryo vacuum equipment, helium recondensation facilities, and these systems have all led to the surge in popularity of Gifford McMahon cryocoolers in recent years. These are a few of the primary applications of cryocoolers.
Report Coverage
Global Cryocooler research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cryocooler report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cryocooler competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cryocooler market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cryocooler market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cryocooler market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sumitomo Heavy Industries, Ltd., Advanced Research Systems, Chart Industries, AMETEK.Inc. (Sunpower Inc.), Cryomech Inc., DH Industries, Janis Research Company LLC, Brooks Automation, Superconductor Technologies Inc., Northrop Grumman, RICOR, Cobham Missions Systems Wimborne Limited
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Cryocooler market based on the below-mentioned segments:
Global Cryocooler Market, By Type
Gifford-Mcmahon
Pulse-Tube
Stirling
Brayton
Joule-Thomson
Global Cryocooler market, By Application
Military & Defense
Healthcare
Power & Energy
Aerospace
Research & Development
Transport
Mining & Metal
Others
Global Cryocooler market, Regional Analysis
Thanks to ongoing R&D and technological improvements, cryocoolers are being utilised more frequently in the healthcare sector for a number of applications, such as proton treatment, NMR equipment, and MRI. This is expected to stimulate market growth. A recent study from Brigham and Women's Hospital found a sharp rise in the incidence of cancer among people under 50. The use of proton therapy is expanding as a result of the global increase in cancer incidence. Cryocoolers are then more in demand as a result of this. As a result of limits and disruptions in the manufacturing supply chain, prices for industrial machinery and equipment immediately surged. The cryocoolers market started to grow again in 2021. However, market fluctuations in the start of 2022 were brought on by the Russia-Ukraine conflict. However, it is anticipated that the market would significantly expand throughout the course of the projected time.
Cryocoolers are now utilised commercially in the United States to cool the high-temperature superconducting magnets used in cell phone stations. High-Temperature Superconducting (HTS) filters are used in these superconducting receivers to produce extremely tiny band-reject filters or bandpass filters with extremely steep skirt slopes. These receivers improve call quality, let the base station handle more calls, and enable it to hear a phone from a further distance when used with cryogenically cooled low-noise amplifiers. Four American companies—Conductus, Illinois Superconductor, Superconducting Technologies, and Spectral Solutions Inc.—offer this technology. driving the market revenue for cryocoolers.
According to Type, the Cryocooler Market is segmented into Gifford-McMahon, Pulse-Tube, Stirling, Brayton, and Joule-Thomson. The Gifford McMahon sector had the highest revenue share in 2022 and is expected to dominate the market for the foreseeable future. This might be because of the cryocooler's unique features and inexpensive cost. Cryogenic systems for various types of scientific research, low-performance nitrogen liquefiers, cryo vacuum equipment, helium recondensation facilities, and these systems have all led to the surge in popularity of Gifford McMahon cryocoolers in recent years. These are a few of the primary applications of cryocoolers.
Report Coverage
Global Cryocooler research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cryocooler report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cryocooler competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cryocooler market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Sumitomo Heavy Industries, Ltd., Advanced Research Systems, Chart Industries, AMETEK.Inc. (Sunpower Inc.), Cryomech Inc., DH Industries, Janis Research Company LLC, Brooks Automation, Superconductor Technologies Inc., Northrop Grumman, RICOR, Cobham Missions Systems Wimborne Limited |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Cryocooler Market from 2021 to 2030.
- Market Forecast for Cryocooler Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cryocooler competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cryocooler
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cryocooler market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cryocooler market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sumitomo Heavy Industries, Ltd., Advanced Research Systems, Chart Industries, AMETEK.Inc. (Sunpower Inc.), Cryomech Inc., DH Industries, Janis Research Company LLC, Brooks Automation, Superconductor Technologies Inc., Northrop Grumman, RICOR, Cobham Missions Systems Wimborne Limited
Primary Target Market
- Market Players of Cryocooler
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Cryocooler market based on the below-mentioned segments:
Global Cryocooler Market, By Type
Gifford-Mcmahon
Pulse-Tube
Stirling
Brayton
Joule-Thomson
Global Cryocooler market, By Application
Military & Defense
Healthcare
Power & Energy
Aerospace
Research & Development
Transport
Mining & Metal
Others
Global Cryocooler market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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