HOME Top Market Reports Cryocooler Market by Type (GM, PT, JT, Stirling, and Brayton Cryocoolers), Service (Technical Support, Product Repairs & Refurbishment, Preventive Maintenance, and Customer Training), Application, and Geography - Global Forecast to 2022

Cryocooler Market by Type (GM, PT, JT, Stirling, and Brayton Cryocoolers), Service (Technical Support, Product Repairs & Refurbishment, Preventive Maintenance, and Customer Training), Application, and Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: April 2016
Report Code: SE 4258

 

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The global cryocooler market is expected to reach USD 2.94 Billion by 2022, at a CAGR of 7.29% between 2016 and 2022. The growth of this market is majorly driven by the growing medical & healthcare services in developing economies and rapid shortage of helium gas. In addition, factors such as growing demand for cryocoolers in space applications and development of cryocoolers for microsatellite military applications provide significant growth opportunities for the market. The report aims at estimating the size and future growth potential of the cryocooler market. The base year considered for the study is 2015 and the market size has been forecast between 2016 and 2022. In addition, the market has been segmented on the basis of type, application, heat exchanger type, hardware & services, and geography.

The research methodology used to estimate and forecast the cryocooler market begins with gathering data on key vendor revenues through secondary research. The top-down and bottom-up approaches have been used to estimate and validate the size of the global cryocoolers market. The research methodology also includes the study of annual and financial reports of the top market players as well as interviews of industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both, quantitative and qualitative) on the cryocooler market. All percentage shares, splits, and breakdowns have been determined by using secondary sources and verified through primary sources. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the following figure.

Cryocooler Market

To know about the assumptions considered for the study, download the pdf brochure

The cryocooler ecosystem comprises hardware component manufacturers, prototype designers, and original equipment manufacturers (OEMs). The prototype designers design cryocooler equipment pertaining to the industry needs, and the hardware component manufacturers provide compressors, cold heads, heat dissipation pipes, valves, dewars, and power conditioning units among others.

The major players in the cryocooler market are Advanced Research Systems, Inc. (U.S.), Brooks Automation, Inc. (U.S.), Chart Industries, Inc. (U.S.), Cryomech, Inc. (U.S.), DH Industries BV (The Netherlands), Janis Research Company, LLC (U.S.), RICOR – Cryogenic & Vacuum Systems (Israel), Sumitomo Heavy Industries Ltd. (Japan), Sunpower, Inc. (U.S.), and Superconductor Technologies, Inc. (U.S.) among others.

Target Audience of the Report:

The intended audience for this report includes:

  • Cryocooler equipment products and solutions providers
  • Cryocooler systems related service providers
  • Research organizations and consulting companies
  • Associations, organizations, forums, and alliances related to cryogenic engineering
  • Government bodies such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users who want to know more about the cryocooler market

Scope of the Report:

This report categorizes the global cryocooler market on the basis of type, application, service, and geography.

By Type:

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

By Industry:

  • Military
  • Medical
  • Commercial
  • Environmental
  • Energy
  • Transport
  • Research and Development
  • Space
  • Agriculture & Biology
  • Others

By Service:

  • Technical Support Services
  • Product Repairs & Refurbishment Services
  • Preventive Maintenance Services
  • Customer Training Services

By Region:

  • Americas
  • Europe
  • Asia-Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Market Analysis

  • Further breakdown of the global cryocoolers market, by geography

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Increasing Adoption of Cryocoolers in the Semiconductor Industry Would Drive the Demand for This Market
           2.2.3 Supply-Side Analysis
                    2.2.3.1 Increase in the Number of Products Launched in the Cryocooler Market
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research as sumptions and Limitations
           2.5.1 as sumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities for the Cryocooler Market
    4.2 Market, By Application
    4.3 Market in the APAC Region
    4.4 Life Cycle Analysis, By Geography

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 Market: By Hardware Component & Service
           5.3.2 Market, By Cryocooler Type
           5.3.3 Market, By Application
           5.3.4 Market, By Heat Exchanger Type
           5.3.5 Market, By Geography
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Shortage of Helium
                    5.4.1.2 Growing Medical & Healthcare Services in the Developing Economies
                    5.4.1.3 Increasing Production of Liquefied Natural Gas
           5.4.2 Restraints
                    5.4.2.1 Power Consumption of Cryocoolers
           5.4.3 Opportunities
                    5.4.3.1 Growing Demand for Cryocoolers in Space Applications
                    5.4.3.2 Development of Cryocoolers for Microsatellite Military Applications
           5.4.4 Challenges
                    5.4.4.1 Performance Requirement of Cryocoolers
           5.4.5 Winning Imperatives
                    5.4.5.1 Reduction in the Cost of Cryocoolers

6 Industry Trends (Page No. - 46)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Intensity of Competitive Rivalry
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Threat of New Entrants
    6.4 Strategic Benchmarking
           6.4.1 Technology Integration and Product Enhancement

7 Market, By Hardware Components & Services (Page No. - 55)
    7.1 Introduction
    7.2 Hardware Components
           7.2.1 Compressor
           7.2.2 Cold Head
           7.2.3 Heat Dissipation Pipe
           7.2.4 Power Conditioning Unit
           7.2.5 Others
    7.3 Services
           7.3.1 Technical Support Service
           7.3.2 Product Repair & Refurbishment Service
           7.3.3 Preventive Maintenance Services
           7.3.4 Customer Training Services

8 Market, By Cryocooler Type (Page No. - 60)
    8.1 Introduction
    8.2 Gifford-Mcmahon Cryocoolers
    8.3 Pulse-Tube Cryocoolers
    8.4 Stirling Cryocoolers
    8.5 Joule-Thomson Cryocoolers
    8.6 Brayton Cryocoolers

9 Market, By Heat Exchanger Type (Page No. - 72)
    9.1 Introduction
    9.2 Recuperative Heat Exchangers
    9.3 Regenerative Heat Exchangers

10 Market, By Application (Page No. - 77)
     10.1 Introduction
     10.2 Military
     10.3 Medical
     10.4 Commercial
     10.5 Environmental
     10.6 Energy
     10.7 Transport
     10.8 Research and Development
     10.9 Space
     10.10 Agriculture & Biology
     10.11 Others

11 Market, By Geography (Page No. - 103)
     11.2 Introduction
     11.3 Americas
              11.3.1 North America
                         11.3.1.1 U.S.
                                11.3.1.1.1 Well-Established Military Industry
                         11.3.1.2 Canada
                                11.3.1.2.1 Growing Medical and Healthcare Industry
                         11.3.1.3 Mexico
                                11.3.1.3.1 Growing Semiconductor Exports May Further Drive the Cryocooler Market
              11.3.2 South America
     11.4 Europe
              11.4.1 Germany
                         11.4.1.1 Known for Manufacturing Capabilities
              11.4.2 U.K.
                         11.4.2.1 Held the Largest Market in the Cryocooler Market in Europe
              11.4.3 France
                         11.4.3.1 Third-Largest Market in the Market in Europe
              11.4.4 Rest of Europe
                         11.4.4.1 Growing Economic Conditions
     11.5 Asia-Pacific
              11.5.1 Japan
                         11.5.1.1 A Substantial Mature Market
              11.5.2 China
                         11.5.2.1 Second-Largest Cryocooler Market in as ia-Pacific
              11.5.3 South Korea
                         11.5.3.1 Growth From Semiconductor Manufacturing Companies
              11.5.4 India
                         11.5.4.1 Prominent Growth in the Medical Equipment Market
              11.5.5 Rest of APAC
                         11.5.5.1 Australia and Indonesia are Emerging Markets With Significant Potential
     11.6 Rest of the World (RoW)
              11.6.1 Middle East
                         11.6.1.1 Huge Oil & Gas Reserves and Petrochemical Industries Would Drive the Market
              11.6.2 Africa
                         11.6.2.1 Emerging Region for Telecommunication Industry

12 Competitive Landscape (Page No. - 125)
     12.1 Introduction
     12.2 Market Ranking of Players in the Cryocooler Market, 2015
     12.3 Competitive Scenario
     12.4 Recent Developments

13 Company Profiles (Page No. - 130)
     13.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
     13.2 Sumitomo Heavy Industries, Limited
     13.3 Chart Industries, Inc.
     13.4 Brooks Automation, Inc.
     13.5 Sunpower, Inc.
     13.6 Cryomech, Inc.
     13.7 Advanced Research Systems, Inc.
     13.8 DH Industries BV
     13.9 Janis Research Company, LLC
     13.10 Ricor – Cryogenic & Vacuum Systems
     13.11 Superconductor Technologies, Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 150)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets Subscription Portal
     14.4 Introducing RT: Real Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports


List of Tables (70 Tables)

Table 1 Liquefaction Capacity (MTPA), 2008–2020
Table 2 Shortage of Helium Gas Would Lead to the Usage of Cryocoolers
Table 3 High Input Power Requirments May Act as  A Hindrance to the Cryocooler Market
Table 4 Advantages and Disadvantages of Different Cooler Technologies
Table 5 Growing Demand for Cryocoolers in Space Applications Might Witness A Huge Opportunity for This Industry
Table 6 The Porter’s Five Forces Analysis: Low Degree of Threat of Substitutes is Likely to Have Minimum Impact on the Overall Market in 2015
Table 7 Cryocooler Market, By Hardware Component, 2013–2022 (USD Million)
Table 8 Market, By Service, 2013–2022 (USD Million)
Table 9 Global Cryocooler Market, By Cryocooler Type,2013–2022 (USD Million)
Table 10 Market for TM Cryocooler Type, By Region,2013–2022 (USD Million)
Table 11 PT cryocooler Market for PT Cryocooler Type, By Region,2013–2022 (USD Million)
Table 12 Cryocoolers Market for Stirling Cryocooler Type, By Region,2013–2022 (USD Million)
Table 13 Market for JT Cryocooler Type, By Region,2013–2022 (USD Million)
Table 14 Market for Brayton Cryocooler Type, By Region,2013–2022 (USD Million)
Table 15 Market for TM Cryocoolers, By Application,2013–2022 (USD Million)
Table 16 Crocooler Market for PT Cryocoolers, By Application,2013–2022 (USD Million)
Table 17 Cryocooler Market for Stirling Cryocoolers, By Application,2013–2022 (USD Million)
Table 18 Market for JT Cryocoolers, By Application,2013–2022 (USD Million)
Table 19 Market for Brayton Cryocoolers, By Application,2013–2022 (USD Million)
Table 20 Market, By Heat Exchanger, 2013–2022 (USD Million)
Table 21 Market for Recuperative Heat Exchangers,By Cryocooler Type, 2013–2022 (USD Million)
Table 22 Cryocooler Market for Regenerative Heat Exchanger,By Cryocooler Type, 2013–2022 (USD Million)
Table 23 Market, By Application, 2013–2022 (USD Million)
Table 24 Market, By Military Application, 2013–2022 (USD Million)
Table 25 Market for Military Application, By CryocoolerType, 2013–2022 (USD Million)
Table 26 Cryocooler Market for Military Application, By Region,2013–2022 (USD Million)
Table 27 Market, By Medical Application, 2013–2022 (USD Million)
Table 28 Market for Medical Application, By Cryocooler Type, 2013–2022 (USD Million)
Table 29 Cryocooler Market for Medical Application, By Region,2013–2022 (USD Million)
Table 30 Market, By Commercial Application,2013–2022 (USD Million)
Table 31 Market for Commercial Application, By Cryocooler Type, 2013–2022 (USD Million)
Table 32 Cryocooler Market for Commercial Application, By Region,2013–2022 (USD Million)
Table 33 Market, By Environmental Application,2013–2022 (USD Million)
Table 34 Market for Environmental Application, By Cryocooler Type, 2013–2022 (USD Million)
Table 35 Cryocooler Market for Environmental Application, By Region,2013–2022 (USD Million)
Table 36 Market, By Energy Application, 2013–2022 (USD Million)
Table 37 Market for Energy Application, By Cryocooler Type,2013–2022 (USD Million)
Table 38 Cryocooler Market for Energy Application, By Region,2013–2022 (USD Million)
Table 39 Market, By Transport Application, 2013–2022 (USD Million)
Table 40 Market for Transport Application, By Cryocooler Type, 2013–2022 (USD Million)
Table 41 Cryocooler Market for Transport Application, By Region,2013–2022 (USD Million)
Table 42 Market, By Research and Development Application,2013–2022 (USD Million)
Table 43 Cryocooler Market for Research & Development Application,By Cryocooler Type, 2013–2022 (USD Million)
Table 44 Cryocooler Market for Research & Development Application,By Region, 2013–2022 (USD Million)
Table 45 Market for Space Application, 2013–2022 (USD Million)
Table 46 Market for Space Application, By Cryocooler Type,2013–2022 (USD Million)
Table 47 Cryocooler Market for Space Application, By Region,2013–2022 (USD Million)
Table 48 Market for Agriculture & Biology Application,By Cryocooler Type, 2013–2022 (USD Million)
Table 49 Cryocooler Market for Agriculture & Biology Application,By Region, 2013–2022 (USD Million)
Table 50 Market, By Others Application, 2013–2022 (USD Million)
Table 51 Market for Others Application, By Cryocooler Type,2013–2022 (USD Million)
Table 52 Cryocooler Market for Others Application, By Region,2013–2022 (USD Million)
Table 53 Market, By Region, 2013–2022 (USD Million)
Table 54 Americas: Cryocooler Market, By Region, 2013–2022 (USD Million)
Table 55 North America: Market, By Country,2013–2022 (USD Million)
Table 56 Cryocooler Market in the Americas, By Application,2013–2022 (USD Million)
Table 57 Market in the Americas, By Cryocooler Type,2013–2022 (USD Million)
Table 58 Europe: Cryocooler Market, By Geography, 2013–2022 (USD Million)
Table 59 Market in Europe, By Application, 2013–2022 (USD Million)
Table 60 Market in Europe, By Cryocooler Type,2013–2022 (USD Million)
Table 61 APAC: Cryocooler Market, By Geography, 2013–2022 (USD Million)
Table 62 Market in APAC, By Application, 2013–2022 (USD Million)
Table 63 Market in APAC, By Cryocooler Type,2013–2022 (USD Million)
Table 64 RoW: Cryocooler Market, By Region, 2013–2022 (USD Million)
Table 65 Market in RoW, By Application, 2013–2022 (USD Million)
Table 66 Market in RoW, By Cryocooler Type,2013–2022 (USD Million)
Table 67 Market Ranking of the Top 5 Players in the Cryocooler Market in 2015
Table 68 New Product Launches, 2014–2015
Table 69 Contracts, Agreements & Partnerships, 2014–2015
Table 70 Mergers & Acquisitions, 2014–2015
 
 
List of Figures (94 Figures)
 
Figure 1 Research Design
Figure 2 Product Launches in the Cryocooler Market, 2013–2015
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Global Cryocooler Market, 2013–2022 (USD Million)
Figure 6 Market for the Military Application Expected to Witness the Highest Growth During the Forecast Period
Figure 7 TM Cryocoolers Expected to Hold the Largest Market Between2016 and 2022
Figure 8 Product Repairs & Refurbishments Services of Cryocoolers are Expected to Grow at the Highest Rate During the Forecast Period
Figure 9 Cryocooler Market in the APAC Region is Expected to Grow at A Highest CAGR in 2015
Figure 10 Increasing Adoption of Cryocoolers for Various Applications Expected to Drive the Market During the Forecast Period
Figure 11 The Military Application of Cryocoolers Expected to Dominate the Market in 2016
Figure 12 The Commercial Application of Cryocoolers Expected to Dominate the Market in the APAC Region in 2015
Figure 13 The Cryocooler Market in the APAC Region Was at the GrowthPhase in 2015
Figure 14 Evolution of the Market
Figure 15 By Geography
Figure 16 Market Dynamics: Overview
Figure 17 Health Expenditure as  % of GDP
Figure 18 Value Chain Analysis: Major Value Added During the Manufacturing and as sembly Phases
Figure 19 The Porter’s Five Forces Analysis (2015):
Figure 20 Cryocooler Market: Porter’s Five Forces Analysis
Figure 21 Intensity of Competitive Rivalry: Medium Competition as  Companies With High Knowledge on Cryocoolers are Expected to Enter the Market
Figure 22 Threat of Substitutes Would Be Low Owing to the Unavailability of Substitute Technology
Figure 23 Bargaining Power of Buyers Expected to Be Medium Owing to the Availability of Wide Range of Cryocooler Types in the Market Space
Figure 24 Bargaining Power of Suppliers is Expected to Be Low Owing to the Presence of Substantial Number of Players
Figure 25 New Entrants are Less Likely to Enter This Market Owing to the High Capital Requirements and Technological Costs
Figure 26 Strategic Benchmarking: Key Players Largely Adopted Organic Growth Strategies for New Product and Technology Development
Figure 27 Cryocooler Market, By Hardware Component
Figure 28 Compressor Market Expected to Hold the Largest Market of the Cryocooler Hardware Components During the Forecast Period
Figure 29 Cryocooler Market, By Service
Figure 30 Product Repairs & Refurbishemnt Services are Expected to Grow at the Highest Rate During the Forecast Period
Figure 31 Cryocooler Market, By Cryocooler Type
Figure 32 TM Cryocoolers Expected to Hold the Largest Market Size in Terms of Value in the Global Market During the Forecast Period
Figure 33 Americas Expected to Hold the Largest Market Size for the TM Cryocoolers Market Between 2016 and 2022
Figure 34 Americas Expected to Hold the Largest Market Size in the PT Cryocoolers Market During the Forecast Period
Figure 35 The Market for Stirling Cryocoolers in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 36 Americas Expected to Dominate the Cryocooler Market for JT Cryocooler Type Between 2016 and 2022
Figure 37 Market for Brayton Cryocoolers in the APAC Region Expected to Grow at the Highest CAGR During the Forecat Period
Figure 38 Cryocooler Market, By Heat Exchanger
Figure 39 Regenerative Heat Exchangers Expected to Hold the Largest Market Between 2016 and 2022
Figure 40 Market for Brayton Cryocoolers Expected to Grow at the Highest Rate During the Forecast Period
Figure 41 Cryocooler Market: Segmentation
Figure 42 Military Application Expected to Dominate the Market Between 2016 and 2022
Figure 43 Stirling Cryocoolers in Military Application Expected to Hold the Largest Market During the Forecast Period
Figure 44 Americas Expected to Dominate the Market for Military Application Between 2016 and 2022
Figure 45 Pulse Tube Cryocoolers Expected to Grow at the Highest CAGR in the Medical Application During the Forecast Period
Figure 46 The Medical Application in the APAC Region Expected to Grow at the Highest CAGR Between 2016 and 2022
Figure 47 TM Cryocoolers Expected to Hold the Largest Market Size for Medical Application During the Forecast Period
Figure 48 Americas Expected to Dominate the Cryocooler Market for Commercial Application Between 2016 and 2022
Figure 49 TM Cryocoolers Expected to Grow at the Highest CAGR During the Forecast Period
Figure 50 The Cryocooler Market for Environmental Application in the APAC Region Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 51 TM Cryocoolers Expected to Hold the Largest Market of the Energy Application Between 2016 and 2022
Figure 52 Americas Expected to Hold the Largest Market of the Energy Application During the Forecast Period
Figure 53 Stirling Cryocoolers Expected to Grow at the Highest Growth Rate in the Transport Application Between 2016 and 2022
Figure 54 Americas Expected to Hold the Largest Market of the Transport Application During the Forecast Period
Figure 55 TM Cryocoolers Expected to Hold the Largest Market of the R&D Application Between 2016 and 2022
Figure 56 Market in the APAC Region Expected to Grow at the Highest Rate in the R&D Application During the Forecast Period
Figure 57 Brayton Cryocoolers to Grow at the Highest Rate in the Space Application Between 2016 and 2022
Figure 58 Americas Expected to Hold the Largest Share in the Space Application During the Forecast Period
Figure 59 TM Cryocoolers Expected to Hold the Major Market of the Agriculture & Biology Application Between 2016 and 2022
Figure 60 The Agriculture & Biology Application in the APAC Region is Expected to Grow at the Highest Rate During the Forecast Period
Figure 61 TM Cryocoolers Expected to Hold the Largest Market of the Others Application Between 2016 and 2022
Figure 62 Americas Estimated to Hold the Largest Market of the Others Application During the Forecast Period
Figure 63 Cryocooler Market, By Region
Figure 64 Americas Expected to Dominate the Global Cryocooler Market During the Forecast Period
Figure 65 Snapshot of the Americas Market: Expected to Be Driven By the Well-Established Military and Healthcare Industries During the Forecast Period
Figure 66 The Cryocooler Market in the Americas
Figure 67 The Market in the U.S. Expected to Hold the Largest Share During the Forecast Period
Figure 68 Military Application Expected to Dominate the Cryocooler Market in the Americas Between 2016 and 2022
Figure 69 TM Cryocoolers Estimated to Hold the Largest Market in the Market in the Americas During the Forecast Period
Figure 70 Snapshot of the European Cryocooler Market: Demand to Be Driven By the Potential Growth Opportunities Pertaining to the R&D Activities in Cryocoolers
Figure 71 The Cryocooler Market in Europe
Figure 72 U.K. Expected to Hold the Major Market for Cryocoolers in Europe Between 2016 and 2022
Figure 73 Stirling Cryocoolers is Expected to Grow at the Highest Rate in the Cryocooler Market in Europe During the Forecast Period
Figure 74 APAC Market Snapshot: Demand to Be Driven By the Growing Usage of Cryocoolers in Commercial Application
Figure 75 The Cryocooler Market in Asia-Pacific
Figure 76 India Expected to Witness the Highest Growth Rate in the APAC Region Between 2016 and 2022
Figure 77 Commercial Application Expected to Hold the Largest Market of the Cryocooler Market in APAC Between 2016 and 2022
Figure 78 TM Cryocoolers are Estimated to Hold the Largest Size in the Market in Asia-Pacific Between 2016 and 2022
Figure 79 The Cryocooler Markets in the RoW
Figure 80 Middle East to Hold the Largest Market for Cryocoolers in RoW During the Forecast Period
Figure 81 PT Cryocoolers Expected to Grow at the Highest Rate in the Market in RoW During the Forecast Period
Figure 82 Key Growth Strategies Adopted By the Top Companies Between 2013 and 2015
Figure 83 Market Evaluation Framework: New Product Launches Fuelled the Growth and Innovation Between 2013 and 2015
Figure 84 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 85 Geographic Revenue Mix of Major Players in the  Market
Figure 86 Sumitomo Heavy Industries Limited.: Company Snapshot
Figure 87 Sumitomo Heavy Industries, Limited: SWOT Analysis
Figure 88 Chart Industries, Inc.: Company Snapshot
Figure 89 Chart Industries, Inc.: SWOT Analysis
Figure 90 Brooks Automation, Inc.: Company Snapshot
Figure 91 Brooks Automation, Inc.: SWOT Analysis
Figure 92 Sunpower, Inc.: SWOT Analysis
Figure 93 Cryomech, Inc.: SWOT Analysis
Figure 94 Superconductor Technologies, Inc.: Company Snapshot

The global cryocooler market is expected to grow from USD 1.76 Billion in 2015 to USD 2.94 Billion by 2022, at a CAGR of 7.29% between 2016 and 2022. The market is majorly driven by the growing medical & healthcare services in developing economies and rapid shortage of helium gas. In addition, factors such as growing demand for cryocoolers in space applications and development of cryocoolers for microsatellite military applications provide significant growth opportunities for the market.

Gifford-McMahon (GM), Pulse-Tube (PT), Joule-Thomson (JT), Stirling, and Brayton cryocoolers are the major cryocooler types that have been considered in the cryocooler market study. Among these cryocooler types, the market for GM cryocooler is expected to grow at the highest rate during the forecast period. Some of the major reasons for the growth of this market include the wide adoption of GM cryocoolers in different applications such as military, medical, commercial, environmental, energy, transport, and space among others. They primarily provide low temperatures as low as 4.2 K. For instance, GM cryocoolers are utilized in military for cooling IR sensors in missiles and satellite monitoring. Similarly, they are used for superconductivity applications in magnetic levitation trains, MRI systems, and semiconductor fabrication units.

The military, medical, commercial, environmental, energy, transport, research and development, and space are some of the key application areas of cryocoolers. The cryocooler market for the military application held the largest market share in 2015, followed by the markets for commercial, medical, research & development, and energy applications. The major factors contributing to the growth of these markets include the increasing adoption of GM, PT, JT, and Stirling cryocoolers which maintain the cryogenic temperatures in these applications for the various systems to function at high efficiencies.

The cryocooler market in the Americas region held the highest size in terms of value in 2015, while the market in APAC is expected to exhibit the fastest-growth rate between 2016 and 2022. The factors contributing to the growth of this market include the increasing well-established military and medical & healthcare industries. For instance, in military application, cryocoolers are utilized to provide cryogen temperatures for IR sensors in missile guidance and satellite monitoring, whereas in medical application, cryocoolers are utilized in cryosurgery, proton therapy, liquefaction of oxygen in hospitals, and MRI systems.

Cryocooler Market

However, high power consumption of cryocoolers may hinder the growth of the market. This is because input power of the cryocooler is largely dependent on heating load and operating temperature. In general, cooling capacity and weight of the cryocooler is considered when comparing the overall performance of various cryocoolers.

Sumitomo Heavy Industries Ltd. (Japan) is one of the leading players in the Cryocooler market worldwide. It offers a wide range of cryocooler systems and service designed in accordance with customer requirements. Sumitomo focuses on organic and inorganic growth strategies to expand its business offerings. It is expected to witness a demand from cryogenic equipment for medical institutions and research facilities. Therefore, it strives to serve these markets with new product launches. It also strengthened its marketing activities aimed at semiconductor manufacturing equipment players who are in need of cryogenic machines. In November 2013, the company’s subsidiary Cryogenics of America, Inc. (U.S.) opened a new office at Malta, New York to offer support services for growing semiconductor industry in the U.S. Thus, new offerings and expansions help the company to gain more revenues besides catering to wide range of customer requirements.

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