HOME Research Insight The Military, Commercial, Medical, Energy, Space, Transport, Energy, and Agriculture & Biology are Some of the Major Application Areas of the Cryocooler Market

The Military, Commercial, Medical, Energy, Space, Transport, Energy, and Agriculture & Biology are Some of the Major Application Areas of the Cryocooler Market

The global cryocooler market is competitive with the presence of a medium to large well-established players, offering a wide range of cryocooler systems to cater the diverse customer needs. Over the past few years, the cryocooler market has been growing at a moderate rate as most of the industries have already adopted the cryocooler equipment. 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 are some of the major companies profiled in this cryocooler market report.

The key cryocooler system providers from North America and Europe led the global cryocooler market in 2015. These companies have been providing their offerings worldwide and are focusing on expanding their positions in the key markets in APAC and RoW. Some of the major companies have adopted strategies such as mergers & acquisitions, partnerships, agreements, collaborations, new product launches, capacity expansions, and joint ventures to expand their global presence and increase their market shares.

The military, commercial, medical, energy, space, transport, energy, and agriculture & biology are some of the major application areas of the cryocooler market. The cryocooler market for the military application is expected to grow significantly during the forecast period. Sumitomo Heavy Industries Ltd. (Japan) and Chart Industries, Inc. (U.S.) have a wide presence in the global cryocooler market and are expected to launch several new products and services customized to various end user needs by 2022.

Sumitomo Heavy Industries Ltd. (Japan) is one of the leading manufacturers of heavy machinery worldwide. The company’s precision machinery segment is one of the world’s leading manufacturers and suppliers of plastic injection modules, cryogenic equipment, ion-implantation systems, laser processing systems, transfer module press machines, and precision forgings among others. It offers a wide range of cryocooler systems and services designed in accordance with customer requirements. Sumitomo focuses on organic and inorganic growth strategies to expand its business offerings. It foresees 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 the wide range of customer requirements.

Chart Industries, Inc. (U.S.) offers a broad range of cryocooler systems catering to various end-user requirements. It is also one of the leading manufacturers of highly engineered equipment’s for the industrial gas, energy, and biomedical industries. It manufactures and markets a wide range of air-cooled heat exchangers, integrated process systems, nitrogen rejection units, flow measurement products, vaporizers, aluminum dewars, and liquid system products among others. The company intends to focus on inorganic growth strategies such as partnerships and acquisitions to expand its products and service offerings. For instance, in November 2015, the company partnered with Rix Industries to develop and deliver Qdrive Acoustic-Stirling Liquefier, which would be installed in the first aircraft carrier in the Ford-Class CVN-78. In July 2015, it acquired Thermax, Inc. (U.S.), which is one of the leading providers of cryogenic fluid vaporizers utilized in industrial gas, petro-chemical, and liquefied natural gas applications. Furthermore, in May 2015, Chart Industries partnered with Brooks Automation, Inc. to develop BioStore III Cryo automated cryogenic sample management system. These initiatives enable the company to generate more revenues besides catering to various customer requirements.

Related 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

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