Cryocooler Market

Cryocooler Market valued for USD 2,100 Million in 2019, growing at a robust CAGR of 7.1% during forecast period.

Introduction of Cryocooler Market Report

The word cryocooler comes from the phrase “Cryogenic Cooler.” The cryocooler is a device that is used for providing active cooling. The cryocooler is often used for smaller systems, usually of table-top size, with less power input about 20 kW. There is a variety of cryocoolers available such aspuls0tube, Stirling, Joule-Thomson, Gifford-Mcmahon, among others, which uses different thermodynamic cycles and techniques to produce cooling. The cryocooler is used for various applications such as military, medical, environmental, energy, research & development, mining & metal, and agriculture & biology, among others.

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The key factors which are propelling the growth of the Cryocooler market are the growing medical & healthcare services in emerging economies, the rapid shortage of helium gas, the increasing production of liquefied natural gas, and the rising adoption of cryocooler in the semiconductor industry. The increasing adoption of cryocooler in a broad range of industries such as military, medical, energy, and transportation, among others, is also fuelling the growth of the market. Moreover, the rising adoption of cooling IR sensors and superconducting applications, growing innovation of cryocoolers for microsatellite military applications, and the increasing demand for cryogenic refrigeration in several space applications are further boosting the growth of the market during the forecast period. However, the high input power consumption of cryocooler is restraining the growth of the market.

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Based on the Hardware and Service, the hardware is expected to dominate the market during the forecast period owing to the increasing usage of the compressor in cryocooler. The compressor is a crucial component in cryocooler. The major function of the compressor is to change the low-pressure gas to high-pressure gas. Helium gas is distributed using a compressor, which helps in reducing compression and removing heat compression.

Based on the Type, the Stirling cryocooler segment is projected to grow at a higher CAGR in the market during the forecast period owing to the growing adoption of stirling cryocooler for several applications such as medical, military, research & development, and commercial. In addition to this, the increasing spending by emerging countries such as India, Malaysia, China, and Thailand on the various sector, including semiconductor manufacturing, military, and medical, is further surging the demand for Stirling cryocooler during the forecast period.

Based on the application, the military segment is expected to witness higher CAGR during the forecast period due to the increasing adoption of cryocooler in cooling Infrared (IR) sensors, which are used in military applications as helps in cooling down the IR sensor to around 80 Kelvin. Additionally, the rising demand for missile detection and night vision surveillance from satellites has led to an increase in the adoption of cryocoolers in the military, which further fuel the growth of the market during the forecast period. Moreover, cryocooler is widely used in high-end systems & detectors such as scaled-downed payloads, thermal weapon sights, missile warning systems, among others, which also propels the growth of the market.

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Based on the region, the North America region is projected to lead the global Cryocooler market over the forecast period owing to the well-established military industry in this region and the growing adoption of cryocooler in medical photon therapy and cryosurgery. In addition to this, the increasing installation of cryogenic technology in aircraft carriers is further increasing the demand for cryocoolers in this region.

The major key players in the market include Chart Industries, Inc., Brooks Automation, Inc., Sumitomo Heavy Industries Ltd., Sunpower, Inc., Cryomech, Inc., Northrop Grumman Corporation, Advanced Research Systems, Inc., Janis Research Company, LLC, Ricor, Ltd.- Cryogenic & Vacuum Systems, and Superconductor Technologies Inc., among others.

Key Developments:

• • In Dec 2018, Sunpower announced that NASA launched CT-S cryocooler aboard SpaceX’s CRS 16 spacecraft, as part of the Robotic Refueling Mission 3 (RRM3), that will establish techniques for storing and replenishing spacecraft fuel.
  • In Nov 2016, Brooks Automation acquired Cool Lab, LLC, a subsidiary of BioCision, LLC. With this acquisition, Brooks cooperated with BioCision for developing innovative solutions in temperature control, which include the CryoPod personal mobile carrier that is capable of maintaining cryogenic temperatures for more than four hours.

The Global Cryocooler market has been segmented based on the hardware and service, type, temperature range, heat exchanger type, application, and region. Based on the Hardware and Service, the market is categorized into hardware and software. The hardware segment is segmented into Compressors, Cold heads, Heat dissipation pipes, Power conditioning units, and Others. The software segment is segmented into Technical Support Services, Product Repairs & Refurbishment Services, Preventive Maintenance Services, and Customer Training Services. Based on type, the market is segmented into Gifford-Mcmahon Cryocoolers, Pulse-Tube Cryocoolers, Stirling Cryocoolers, Joule-Thomson Cryocoolers, and Brayton Cryocoolers. Based on temperature range, the market is segmented into 1k–50k, 50k–100k, 100k–300k, and Others. Based on the heat exchanger type, the market is segmented into Recuperative Heat Exchangers and Regenerative Heat Exchangers. Based on application, the market segmented into military, medical, commercial, environmental, energy, transport, research & development, space, agriculture & biology, mining & metal, and others. Based on the military, the market is segmented into Ir Sensors for Missile Guidance and Ir Sensors for Satellite-Based Surveillance. Based on medical, the market is segmented into Cooling Superconducting Magnets for MRI Systems, Liquefaction of Oxygen for Storage, and Cryosurgery. Based on commercial, the market is segmented into Semiconductor Fabrication, High-Temperature Superconductors for Cell-Phone Base Stations, and Ir Sensors for Nde And Process Monitoring. Based on Environmental, the market is segmented into Ir Sensors for Atmospheric Studies on Ozone Hole and Green House Effects, and Ir Sensors for Pollution Monitoring. Based on Energy, the market is segmented into Ir Sensors for Thermal Loss Measurements and Superconducting Magnetic Energy Storage for Peak Shaving. Based on Transport, the market is segmented into Superconducting Magnets in Maglev Trains and Lng for Fleet Vehicles. Based on Research and Development, the market is segmented into Nuclear Magnetic Resonance (NMR) and Electron Paramagnetic Resonance (EPR). Based on Space, the market is segmented into Space Astronomy and Planetary Science. Based on Agriculture & Biology, the market is segmented into the Storage of Biological Cells and Specimens. Based on Mining and Metal, the market is segmented into Tempering, and Shrink Fitting.

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Key questions answered in this research report:

• • At what pace is the global Cryocooler market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Cryocooler market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Cryocooler market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various application areas of the global Cryocooler market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Cryocooler Market 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

Global Cryocooler Market by Type

• • Gifford-McMahon cryocoolers
  • Pulse-Tube cryocoolers
  • Stirling cryocoolers
  • Joule Thomson cryocoolers
  • Brayton cryocoolers

Global Cryocooler Market by Temperature Range   

• • 1K–50K
  • 50K–100K
  • 100K–300K
  • others

Global Cryocooler Market by Heat Exchanger Type  

• • Recuperative heat exchangers
  • Regenerative heat exchangers

Global Cryocooler Market 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 greenhouse 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

Global Cryocooler Market by Region

• • North America Cryocooler Market (Option 1: As a part of the free 25% customization)
    • North America Market by Hardware and Service
    • North America Market by Type
    • North America Market by Temperature Range
    • North America Market by Heat Exchanger Type
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Cryocooler Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Hardware and Service
    • Europe Market by Type
    • Europe Market by Temperature Range
    • Europe Market by Heat Exchanger Type
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Cryocooler Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Hardware and Service
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Temperature Range
    • Asia-Pacific Market by Heat Exchanger Type
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Cryocooler Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Hardware and Service
    • RoW Market by Type
    • RoW Market by Temperature Range
    • RoW Market by Heat Exchanger Type
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Cryocooler (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Chart Industries, Inc.
  • Brooks Automation, Inc.
  • Sumitomo Heavy Industries Ltd.
  • Sunpower, Inc.
  • Cryomech, Inc.
  • Northrop Grumman Corporation
  • Advanced Research Systems, Inc.
  • Janis Research Company, LLC
  • Ricor, Ltd.- Cryogenic & Vacuum Systems
  • Superconductor Technologies Inc.