Cryocooler Market

Cryocooler Market with COVID-19 Impact and Analysis by Type (GM, PT, JT, Stirling, Brayton), Offering (Hardware, Services), Heat Exchanger (Recuperative, Regenerative) Operating Cycle (Open,Closed loop), Application, and Geography - Global Forecast to 2025

Report Code: SE 4258 Oct, 2020, by marketsandmarkets.com

[229 Pages Report] The cryocooler market is estimated to be USD 2.3 billion in 2020 and projected to reach USD 3.1 billion by 2025, at a CAGR of 6.0%. The rising adoption of cryocoolers in semiconductor industry,superconducting magnets, and power systems, along with surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in healthcare sector are major factors driving the growth of cryoclooer market globally. The other key factors driving the growth of  the market includes the increasing demand for cryocoolers in space applications and the development of cryocoolers for microsatellite military applications.

Cryocooler Market

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COVID-19 impact on the global cryocooler market

The impact of COVID-19 on the cryocooler market is expected to last for the first two quarters in 2020 and will witness lackluster growth, and there will be some sort of recovery in the second half of FY20–21. Major companies such as Sumitomo Heavy Industries Ltd. (Japan), Chart Industries (US), Brooks Automation, Inc. (US), Cryomech, Inc. (US), and Sunpower, Inc. (US) operating in the cryocooler market have witnessed subdued demand and delay in project completion during April to June quarter of FY20-21. The several end-user application segments such as military equipment, energy, and transportation have witnessed a great dip in demand for cryocoolers mainly due to the supply chain disruption triggered by the COVID-19 pandemic. However, end-user application segments such as medical, and research & development have shown steady growth even during the pandemic period as the demand for cryocoolers has been not impacted significantly from these vertical during the first half of 2020.

Cryocooler Market Dynamics

Driver: Surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in healthcare sector

Cryocoolers are used in medical and healthcare industries to achieve temperatures as low as −150 degrees Celsius for cooling superconducting magnets. Currently, cryocoolers are used in various medical applications, such as MRI, NMR equipment, and proton therapy.  Gifford-McMahon cryocoolers are used for MRI shield applications. The demand for cryocoolers in the healthcare sector is rapidly increasing mainly due to the extensive utilization of cryocoolers in proton therapy, MRI systems, NMR equipment, cryosurgery, and the liquefaction of oxygen in hospitals. Proton therapy is a treatment method that is currently used by advanced hospitals and cancer treatment centers. Similar to MRI systems, high-powered magnets used in proton therapy have superconducting properties. These magnets need to be cooled to liquid helium temperatures using cryocoolers. Many cancer treatment centers and hospitals are investing in, or consider investing in this life-saving technology. This, in turn, is expected to impact the market demand during the forecast period. Cryocoolers are used in superconducting quantum interference device (SQUID) magnetometers for heart and brain studies, the liquefaction of oxygen for storage at hospitals and home use, cryogenic catheters, and cryosurgery.

Restraint: High input power consumption of cryocoolers

Power consumption plays an important role in the designing of cryocoolers. The input power consumption of cryocoolers is largely dependent on the heating load and operating temperature. In general, the cooling capacity and the weight of the cryocooler must be considered when comparing the overall performance of various cryocoolers. The advancements in cryocoolers have significantly improved input power requirements; this has been made possible by raising the operating temperature from 4.2 K, depending on the refrigerant used and the overall thermal efficiency of the system. Several key players in the cryocooler market are coming up with advanced features such as low vibrations, high efficiency, and low power consumption. For instance, an inverter compressor has been developed and commercialized, which are being used in 4 K pulse-tube cryocoolers. Both the cryocoolers have operated successfully with input power frequencies from 30 Hz to 62 Hz. Hence, this restraining factor is expected to have less impact on the market in the long term.

Opportunity: Growing demand for cryocoolers with enhanced capabilities and low cost for microsatellite and military applications

Cryocoolers are used in association with sensitive electronics and sensors for military, commercial, or scientific space payloads. The overall requirements for these applications are high reliability and power efficiency, low vibration and ability to survive satellite launch vibration, and long-term exposure to space radiation. Cryocoolers are being widely used for large military and commercial satellite applications for maintaining electro-optical (EO) devices, infrared (IR) sensors at the required temperature. The need for cryocoolers for microsatellite technology has increased drastically, however, due to the complex thermodynamic processes, cryocoolers do not scale down linearly, which is one of the major requirements in space and microsatellite applications. Increased efficiency with enhanced features such as detector sensitivity, and signal/noise ratio, for an EO, and IR application in microsatellite is expected to create a newer opportunity for cryocooler manufacturers in the coming years. The recent trend of developing mini and microsatellites for budget-constrained missions has opened new opportunities in space cryocooler applications.

Challenge: Performance constraints of cryocoolers

For a cryocooler to work efficiently and reliably its operating and performance parameters play a critical role in various applications. The operating and performance parameters of cryocoolers include operating temperature, vibration, cooling capacity, field maintenance, refrigeration efficiency, limited flexibility, and reliability. As cryocoolers are mechanical devices with moving parts, maintenance is required for both the compressor and the cryocooler head. Earlier, Stirling cryocoolers had higher levels of vibration, necessitating maintenance at shorter intervals. However, their mean-time-to-failure (MTTF) of about 4,000 hours (approximately 0.5 years) is short of the required 5–10 years lifetime needed for satellite applications and even 3–5 years lifetime for most commercial applications. Also, achieving high reliability is a key factor for cryogenic systems to provide continuous cooling. However, continuous research and development activities are being undertaken to provide high-efficiency cryocoolers.

Regenerative heat exchangers were the most extensively used cryocooler type in the global cryocooler market in 2019

The market for regenerative heat exchangers cryocooler type is expected to account larger share during the forecast period. The major factors contributing to the growth of the market include the increasing adoption of regenerative heat exchangers in GM, PT, and Stirling cryocoolers. In addition, these cryocoolers are used in a wide range of applications in military, space, medical, energy, agriculture and biology, and other sectors, which is leading to the high consumption of these heat exchangers.

Closed-loop cycle type of cryocooler to grow at a higher rate during forecast period

Closed-loop cycle cryocoolers are expected to witness a high growth rate during the forecast period mainly due to their broader application areas, which include IR detectors/ sensors, thermal cameras, magnetic resonance imaging (MRI), surgical probes, night vision systems, superconducting devices, and commercial refrigerators. Recent technological advancements have led to the development of high-temperature infrared detectors with a cooling range between 150 and 200 K. Closed-cycle systems such as JT cryocoolers are being used in a wide range of applications in night vision systems due to the absence of mechanical parts, miniature size, and rapid cooling capacity.

Stirling cryocoolers to show a high growth in the cryocooler market during the forecast period

The market for Stirling cryocoolers is expected to grow at the highest CAGR during the forecast period mainly due to various advantages associated with them including their compact structure and the ability to achieve higher frequency compared to other cryocoolers. The surging adoption of Stirling cryocoolers in defense and space applications across the world is another major factor attributing to the growth of the market for these cryocoolers. The adoption of Stirling cryocoolers in developing countries such as India, China, and other south-east Asian counties is increasing rapidly.

Cryocooler Market by Region

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The major players in the cryocooler market are Sumitomo Heavy Industries (Japan), Chart Industries (US), Sunpower (US), Cryomech (US), and Northrop Grumman Corporation (US)

Scope of the report

Report Metric

Details

Market size available for years

2017–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD Million), and Volume (Million Units)

Segments covered

By Offering, By Heat Exchanger, By Operating Cycle, By Type,  and By Application

Geographies covered

Americas (North America & South America), Europe, Asia Pacific, and Rest of World

Companies covered

A few of the major players in the cryocooler market are Advanced Research Systems, (US), Brooks Automation, (US), Chart Industries, (US), Cryomech, (US), DH Industries (Netherlands), Janis Research Company, (US), RICOR – Cryogenic & Vacuum Systems (Israel), Sumitomo Heavy Industries (Japan), Sunpower, (US), and Superconductor Technologies, (US).

The study categorizes the cryocooler market based on offering, type, heat exchanger type, operating cycle, application at the regional and global level.

By Offering

  • Hardware
  • Services

By Heat Exchanger Type

  • Recuperative Heat Exchangers
  • Regenerative Heat Exchangers

By Operating Cycle

  • Open-loop cycle
  • Closed-loop cycle

Type

  • Gifford-Mcmahon
  • Pulse-Tube
  • Stirling
  • Joule-Thomson
  • Brayton

Application

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

By Region

  • Americas
  • Europe
  • Asia Pacific
  • Rest of World

Recent Developments

  • Sumitomo (SHI) Cryogenics of America, Inc., a wholly-owned subsidiary of Sumitomo Heavy Industries, Ltd. announced a new collaboration with Quantum Design (QD) that develops and markets advanced technology cryogenic systems and instruments for the scientific community. Through this collaboration, the company aims to bring innovative new products and related technology into the cryocooler market.
  • Chart Industries acquired Harsco Corporation’s Industrial Air-X-Changers business (AXC). AXC is a leading supplier of custom-engineered and manufactured air-cooled heat exchangers (“ACHX) for the natural gas compression and processing industry and refining and petrochemicals industry in the United States. With the addition of the AXC product portfolio, the company now has a comprehensive portfolio of heat exchangers.
  • Northrop Grumman Corporation acquired Orbital ATK. Through this acquisition, the company established Innovation Systems as a new, fourth business sector that offers its products and services for defense systems, flight systems, and space systems.
  • Cryomech, Inc. announced the opening of a new 76,000-square-foot manufacturing facility in DeWitt. Through this facility, the company aims to achieve growth and innovation in the cryogenics industry.
  • Northrop Grumman Corporation acquired Orbital ATK. Through this acquisition, the company established Innovation Systems as a new, fourth business sector which offers its products and services for defense systems, flight systems, and space systems.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 34)
    2.1 RESEARCH DATA
        FIGURE 1 CRYOCOOLER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews with experts
                    2.1.2.2 Breakdown of primaries
                    2.1.2.3 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for capturing market share by bottom-up analysis (demand side)
                            FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market share by top-down analysis (supply side)
                            FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                            FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) FOR CRYOCOOLER MARKET
                            FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE) FOR CRYOCOOLER MARKET
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
        FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 46)
    3.1 POST-COVID-19: REALISTIC SCENARIO
    3.2 POST-COVID-19: OPTIMISTIC SCENARIO
    3.3 POST-COVID-19: PESSIMISTIC SCENARIO
        FIGURE 7 PRE- AND POST-COVID-19 SCENARIO ANALYSIS: CRYOCOOLER MARKET, 2016–2025 (USD MILLION)
        FIGURE 8 MILITARY APPLICATION TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET IN 2025
        FIGURE 9 GIFFORD-MCMAHON CRYOCOOLERS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET IN 2025
        FIGURE 10 CRYOCOOLER MARKET FOR PRODUCT REPAIRS & REFURBISHMENT SERVICES TO GROW AT HIGHEST RATE FROM 2020 TO 2025
        FIGURE 11 SOUTH AMERICA FOLLOWED BY APAC TO WITNESS HIGHEST GROWTH OF CRYOCOOLER MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES FOR CRYOCOOLER MARKET
        FIGURE 12 INCREASING ADOPTION OF CRYOCOOLERS FOR VARIOUS APPLICATIONS TO DRIVE GROWTH OF MARKET DURING FORECAST PERIOD
    4.2 CRYOCOOLER MARKET IN APAC, BY APPLICATION AND COUNTRY
        FIGURE 13 JAPAN AND MILITARY TO BE LARGEST SHAREHOLDERS OF CRYOCOOLER MARKET IN APAC IN 2019
    4.3 CRYOCOOLER MARKET, BY TYPE (2020–2025)
        FIGURE 14 GIFFORD-MCMAHON CRYOCOOLERS TO HOLD LARGEST SHARE OF CRYOCOOLER MARKET FROM 2020 T0 2025
    4.4 CRYOCOOLER MARKET, BY SERVICE (2020–2025)
        FIGURE 15 PREVENTIVE MAINTENANCE SERVICES TO HOLD LARGEST SHARE OF CRYOCOOLER MARKET FROM 2020 T0 2025
    4.5 CRYOCOOLER MARKET, BY REGION
        FIGURE 16 AMERICAS TO ACCOUNT FOR LARGEST MARKET SHARE FOR CRYOCOOLER DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET EVOLUTION
        FIGURE 17 EVOLUTION OF CRYOCOOLER MARKET
    5.3 MARKET DYNAMICS
        FIGURE 18 MARKET DYNAMICS: OVERVIEW
           5.3.1 DRIVERS
                    5.3.1.1 High rate of depletion of helium
                            FIGURE 19 GRADE-A HELIUM PRICE (USD)
                    5.3.1.2 Surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in healthcare sector
                            FIGURE 20 HEALTHCARE EXPENDITURE AS PERCENTAGE OF GDP IN 2019
                    5.3.1.3 Growing demand for liquefied natural gas
                            TABLE 1 NOMINAL LIQUEFACTION CAPACITY (MTPA), 2009–2021
                    5.3.1.4 Increasing adoption of cryocoolers in semiconductor industry, superconducting magnets, and power systems
                            FIGURE 21 IMPACT ANALYSIS: DRIVERS
           5.3.2 RESTRAINTS
                    5.3.2.1 High input power consumption of cryocoolers
                            FIGURE 22 IMPACT ANALYSIS: RESTRAINTS
           5.3.3 OPPORTUNITIES
                    5.3.3.1 Rising need for cryogenic refrigeration for space applications
                            TABLE 2 ADVANTAGES AND DISADVANTAGES OF DIFFERENT COOLER TECHNOLOGIES
                    5.3.3.2 Growing demand for cryocoolers with enhanced capabilities and low cost for microsatellite and military applications
                            FIGURE 23 IMPACT ANALYSIS: OPPORTUNITIES
           5.3.4 CHALLENGES
                    5.3.4.1 Performance constraints of cryocoolers
                    5.3.4.2 Leakage of cryogen gases
                            FIGURE 24 IMPACT ANALYSIS: CHALLENGES
           5.3.5 WINNING IMPERATIVE
                    5.3.5.1 Reduction in cost of cryocoolers
    5.4 CRYOCOOLER MARKET ECOSYSTEM

6 INDUSTRY TRENDS (Page No. - 66)
    6.1 INTRODUCTION
    6.2 VALUE CHAIN ANALYSIS
        FIGURE 25 VALUE CHAIN ANALYSIS: MAJOR VALUE IS ADDED DURING MANUFACTURING AND ASSEMBLY PHASES
    6.3 STRATEGIC BENCHMARKING
           6.3.1 TECHNOLOGY INTEGRATION AND PRODUCT ENHANCEMENT
                 FIGURE 26 STRATEGIC BENCHMARKING: KEY PLAYERS LARGELY ADOPT ORGANIC GROWTH STRATEGIES FOR NEW PRODUCTS AND TECHNOLOGY DEVELOPMENT
    6.4 PRICING ANALYSIS
        FIGURE 27 AVERAGE COST FOR PER WATT OF COOLING POWER (STIRLING AND G-M CRYOCOOLERS), 2016–2025
        FIGURE 28 AVERAGE MAINTENANCE COST FOR PER WATT OF COOLING POWER (STIRLING AND G-M CRYOCOOLERS), 2016–2025
    6.5 TECHNOLOGY ANALYSIS
           6.5.1 DEVELOPMENT OF HIGH-FIELD STRENGTH CRYOCOOLERS FOR MRI APPLICATION
           6.5.2 ADVANCEMENTS IN THERMOACOUSTIC LIQUEFACTION
           6.5.3 INCREASING FOCUS ON LOW-VIBRATION CRYOCOOLERS
    6.6 PATENT ANALYSIS
           6.6.1 MAJOR PATENTS BY SUMITOMO
           6.6.2 MAJOR PATENTS BY SUNPOWER, INC
           6.6.3 MAJOR PATENTS BY CHART INDUSTRIES
    6.7 CASE STUDIES
           6.7.1 CHART INDUSTRY: WTP CASE STUDY
           6.7.2 CHILLZILLA CASE STUDY

7 MARKET, BY OFFERING (Page No. - 75)
    7.1 INTRODUCTION
        FIGURE 29 MARKET FOR SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
        TABLE 3 CRYOCOOLER MARKET, BY OFFERING, 2016–2019 (USD MILLION)
        TABLE 4 CRYOCOOLER MARKET, BY OFFERING, 2020–2025 (USD MILLION)
        TABLE 5 CRYOCOOLER MARKET, BY HARDWARE, 2016–2019 (USD MILLION)
        FIGURE 30 COMPRESSORS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR HARDWARE IN 2025
        TABLE 6 CRYOCOOLER MARKET, BY HARDWARE, 2020–2025 (USD MILLION)
    7.2 HARDWARE
           7.2.1 COMPRESSORS
                    7.2.1.1 Surging demand for compact cryocooler compressors with high power density
           7.2.2 COLD HEADS
                    7.2.2.1 Rising popularity of 4 K J-M and P-T cryocoolers to propel demand for cold heads
           7.2.3 HEAT DISSIPATION PIPES
                    7.2.3.1 Heat dissipation pipes to witness relatively higher growth owing to increasing demand from retrofitting installations
           7.2.4 POWER CONDITIONING UNITS
                    7.2.4.1 Power conditioning units are most vital components in cryocooler systems for optimum function of other components
           7.2.5 OTHERS
    7.3 SERVICES
           7.3.1 TECHNICAL SUPPORT SERVICES
                    7.3.1.1 Integration services and product support services for customers at their facilities to account for market growth
           7.3.2 PRODUCT REPAIRS & REFURBISHMENT SERVICES
                    7.3.2.1 Increasing installation of cryocoolers in medical, space, and military applications to spur growth of product repairs & refurbishment services
           7.3.3 PREVENTIVE MAINTENANCE SERVICES
                    7.3.3.1 Preventive maintenance services expected to witness substantial demand owing to prevention of downtime and equipment failure
           7.3.4 CUSTOMER TRAINING SERVICES
                    7.3.4.1 Rising interest among customers toward online training modules to fuel market growth
                            TABLE 7 CRYOCOOLER MARKET, BY SERVICE, 2016–2019 (USD MILLION)
                            FIGURE 31 CRYOCOOLER MARKET FOR PRODUCT REPAIRS & REFURBISHMENT SERVICES TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                            TABLE 8 CRYOCOOLER MARKET, BY SERVICE TYPE, 2020–2025(USD MILLION)

8 MARKET, BY HEAT EXCHANGER TYPE (Page No. - 82)
    8.1 INTRODUCTION
        FIGURE 32 CRYOCOOLER MARKET, BY HEAT EXCHANGER TYPE
        TABLE 9 CRYOCOOLER MARKET, BY HEAT EXCHANGER TYPE, 2016–2019 (USD MILLION)
        FIGURE 33 REGENERATIVE HEAT EXCHANGERS TO LEAD CRYOCOOLER MARKET FROM 2020 TO 2025
        TABLE 10 CRYOCOOLER MARKET, BY HEAT EXCHANGER TYPE, 2020–2025 (USD MILLION)
    8.2 RECUPERATIVE HEAT EXCHANGERS
           8.2.1 RECUPERATIVE HEAT EXCHANGERS TO WITNESS HIGHER ADOPTION IN JOULE THOMSON AND BRAYTON CRYOCOOLERS
                 TABLE 11 MARKET FOR RECUPERATIVE HEAT EXCHANGERS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                 TABLE 12 MARKET FOR RECUPERATIVE HEAT EXCHANGERS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
    8.3 REGENERATIVE HEAT EXCHANGERS
           8.3.1 REGENERATIVE HEAT EXCHANGERS EXPECTED TO WITNESS ACCELERATED DEMAND FOR PULSE-TUBE AND STIRLING CRYOCOOLERS
                 TABLE 13 MARKET FOR REGENERATIVE HEAT EXCHANGERS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                 FIGURE 34 MARKET FOR REGENERATIVE HEAT EXCHANGERS FOR STIRLING CRYOCOOLERS TO GROW AT HIGHEST RATE BETWEEN 2020 AND 2025
                 TABLE 14 MARKET FOR REGENERATIVE HEAT EXCHANGERS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)

9 MARKET, BY OPERATING CYCLE (Page No. - 87)
    9.1 INTRODUCTION
        TABLE 15 CRYOCOOLER MARKET, OPERATING CYCLE TYPE, 2016–2019 (USD MILLION)
        FIGURE 35 CLOSED-LOOP-CYCLE CRYOCOOLER MARKET TO WITNESS ROBUST GROWTH DURING FORECAST PERIOD
        TABLE 16 CRYOCOOLER MARKET, BY OPERATING CYCLE TYPE, 2020–2025 (USD MILLION)
    9.2 OPEN-LOOP-CYCLE CRYOCOOLERS
           9.2.1 OPEN-LOOP-CYCLE CRYOCOOLERS ARE RELATIVELY CHEAPER THAN CLOSED-LOOP CRYOCOOLERS
                 TABLE 17 OPEN-LOOP-CYCLE CRYOCOOLER MARKET, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 18 OPEN-LOOP-CYCLE CRYOCOOLER MARKET, BY REGION, 2020–2025 (USD MILLION)
    9.3 CLOSED-LOOP-CYCLE CRYOCOOLERS
           9.3.1 SURGING DEMAND FOR CLOSED-LOOP-CYCLE CRYOCOOLERS IN MRI, NIGHT VISION SYSTEMS, AND SUPERCONDUCTING DEVICES TO PROPEL MARKET GROWTH
                 TABLE 19 CLOSED-LOOP-CYCLE CRYOCOOLER MARKET, BY REGION, 2016–2019 (USD MILLION)
                 FIGURE 36 APAC TO WITNESS HIGHEST GROWTH OF CLOSED-CYCLE CRYOCOOLER MARKET DURING FORECAST PERIOD
                 TABLE 20 CLOSED-LOOP-CYCLE CRYOCOOLER MARKET, BY REGION, 2020–2025 (USD MILLION)

10 MARKET, BY TYPE (Page No. - 93)
     10.1 INTRODUCTION
          FIGURE 37 CRYOCOOLER MARKET, BY TYPE
          TABLE 21 CRYOCOOLER MARKET, BY TYPE, 2016–2019 (USD MILLION)
          FIGURE 38 GIFFORD-MCMAHON CRYOCOOLERS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET IN 2025
          TABLE 22 CRYOCOOLER MARKET, BY TYPE, 2020–2025 (USD MILLION)
     10.2 GIFFORD-MCMAHON CRYOCOOLERS
             10.2.1 GIFFORD-MCMAHON CRYOCOOLERS ARE WIDELY BEING USED IN MAGNETIC RESONANCE IMAGING EQUIPMENT FOR COOLING DOWN RADIATION SHIELDS
                    TABLE 23 MARKET FOR GIFFORD-MCMAHON CRYOCOOLERS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 39 AMERICAS EXPECTED TO HOLD LARGEST SIZE OF MARKET FOR GIFFORD-MCMAHON CRYOCOOLERS IN 2025
                    TABLE 24 MARKET FOR GIFFORD-MCMAHON CRYOCOOLERS, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 25 MARKET FOR GIFFORD-MCMAHON CRYOCOOLERS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 26 MARKET FOR GIFFORD-MCMAHON CRYOCOOLERS, BY APPLICATION, 2020–2025 (USD MILLION)
     10.3 PULSE-TUBE CRYOCOOLERS
             10.3.1 PULSE-TUBE CRYOCOOLERS OFFER VARIOUS ADVANTAGES INCLUDING LESS VIBRATION, HIGHER RELIABILITY, AND LOWER COST OVER OTHER CRYOCOOLERS
                    TABLE 27 MARKET FOR PULSE-TUBE CRYOCOOLERS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 40 AMERICAS TO HOLD LARGEST SIZE OF MARKET FOR PULSE-TUBE CRYOCOOLERS FROM 2020 TO 2025
                    TABLE 28 MARKET FOR PULSE-TUBE CRYOCOOLERS, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 29 MARKET FOR PULSE-TUBE CRYOCOOLERS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 30 MARKET FOR PULSE-TUBE CRYOCOOLERS, BY APPLICATION, 2020–2025 (USD MILLION)
     10.4 STIRLING CRYOCOOLERS
             10.4.1 STIRLING CRYOCOOLERS TO WITNESS INCREASED DEMAND FOR COOLING DOWN INFRARED DETECTORS IN MILITARY NIGHT VISION EQUIPMENT
                    TABLE 31 LEGACY PROGRAMS WHEREIN STIRLING CRYOCOOLERS WERE USED
                    TABLE 32 MARKET FOR STIRLING CRYOCOOLERS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 41 MARKET FOR STIRLING CRYOCOOLERS IN APAC TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                    TABLE 33 MARKET FOR STIRLING CRYOCOOLERS, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 34 MARKET FOR STIRLING CRYOCOOLERS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 35 MARKET FOR STIRLING CRYOCOOLERS, BY APPLICATION, 2020–2025 (USD MILLION)
     10.5 JOULE-THOMSON CRYOCOOLERS
             10.5.1 LONGER LIFE CYCLE OF JOULE-THOMSON CRYOCOOLERS IS MAJOR FACTOR FOR THEIR HIGHER ADOPTION
                    TABLE 36 MARKET FOR JOULE THOMSON CRYOCOOLERS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 42 AMERICAS TO HOLD LARGEST SIZE OF MARKET FOR JOULE THOMSON CRYOCOOLERS IN 20225
                    TABLE 37 MARKET FOR JOULE THOMSON CRYOCOOLERS, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 38 MARKET FOR JOULE THOMSON CRYOCOOLERS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 39 MARKET FOR JOULE THOMSON CRYOCOOLERS, BY APPLICATION, 2020–2025 (USD MILLION)
     10.6 BRAYTON CRYOCOOLERS
             10.6.1 LOW VIBRATION OF BRAYTON CRYOCOOLERS MAKES THEM SUITABLE FOR USE IN SENSITIVE TELESCOPES
                    TABLE 40 MARKET FOR BRAYTON CRYOCOOLERS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 43 MARKET FOR BRAYTON CRYOCOOLERS IN APAC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
                    TABLE 41 MARKET FOR BRAYTON CRYOCOOLERS, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 42 MARKET FOR BRAYTON CRYOCOOLERS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 43 MARKET FOR BRAYTON CRYOCOOLERS, BY APPLICATION, 2020–2025 (USD MILLION)

11 MARKET, BY APPLICATION (Page No. - 109)
     11.1 INTRODUCTION
          FIGURE 44 CRYOCOOLER MARKET, BY APPLICATION
          FIGURE 45 MILITARY APPLICATION TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET IN 2025
          TABLE 44 CRYOCOOLER MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
          TABLE 45 CRYOCOOLER MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
     11.2 MILITARY
             11.2.1 IR SENSORS FOR MISSILE GUIDANCE
             11.2.2 IR SENSORS FOR SATELLITE-BASED SURVEILLANCE
                    TABLE 46 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 47 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                    TABLE 48 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    FIGURE 46 STIRLING CRYOCOOLERS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR MILITARY APPLICATIONS IN 2025
                    TABLE 49 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 50 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 51 CRYOCOOLER MARKET FOR MILITARY APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.3 MEDICAL
          TABLE 52 CRYOCOOLER MARKET FOR MEDICAL APPLICATION, BY TYPE, 2016–2019 (USD MILLION)
          TABLE 53 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
          TABLE 54 CRYOCOOLER INSTALLED BASE FOR MEDICAL APPLICATION, BY REGION, 2016–2019 (UNITS SHIPMENT)
          TABLE 55 CRYOCOOLER INSTALLED BASE FOR MEDICAL APPLICATION, BY REGION, 2020–2025 (UNITS SHIPMENT)
             11.3.1 MRI SYSTEMS
                        11.3.1.1 Surging investments in advanced medical imaging techniques to spur growth of cryocooler market
             11.3.2 LIQUEFACTION OF OXYGEN FOR STORAGE
                        11.3.2.1 Liquefaction of oxygen for storage to witness substantial growth owing to increasing attention on biological storage of human tissues, bone marrows, and stem cells
             11.3.3 CRYOSURGERY AND PROTON THERAPY
                        11.3.3.1 Rising cases of deadly cancer disease worldwide to accelerate demand for cryosurgery and proton therapy applications in cryocooler market
                                  TABLE 56 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                  TABLE 57 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                                  TABLE 58 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                                  FIGURE 47 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS IN APAC TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                                  TABLE 59 CRYOCOOLER MARKET FOR MEDICAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.4 COMMERCIAL
             11.4.1 SEMICONDUCTOR FABRICATION
                        11.4.1.1 Rising popularity of micro-sized cryocoolers in semiconductor fabrication industry owing to low costs of large-scale fabrication processes
             11.4.2 HIGH-TEMPERATURE SUPERCONDUCTORS FOR CELLPHONE BASE STATIONS
                        11.4.2.1 Demand for cryocoolers is expected to rise significantly for high-temperature superconductors in wireless cellphone base stations
             11.4.3 IR SENSORS FOR NDE AND PROCESS MONITORING
                        11.4.3.1 Increasing demand for cooling down IR sensors used in Infrared thermography to offer significant opportunity for small-sized cryocoolers manufactures
                    TABLE 60 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 61 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                    TABLE 62 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 63 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 64 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 48 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS IN APAC TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                    TABLE 65 CRYOCOOLER MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.5 ENVIRONMENTAL
             11.5.1 IR SENSORS FOR ATMOSPHERIC STUDIES ON OZONE HOLE AND GREENHOUSE EFFECT
             11.5.2 IR SENSORS FOR POLLUTION MONITORING
                    TABLE 66 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 67 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                    TABLE 68 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    FIGURE 49 MARKET FOR STIRLING CRYOCOOLERS FOR ENVIRONMENTAL APPLICATIONS TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                    TABLE 69 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 70 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 71 CRYOCOOLER MARKET FOR ENVIRONMENTAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.6 ENERGY
             11.6.1 IR SENSORS FOR THERMAL LOSS MEASUREMENTS
             11.6.2 SUPERCONDUCTING MAGNETIC ENERGY STORAGE FOR PEAK SHAVING
                    TABLE 72 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 73 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                    TABLE 74 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 75 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                    TABLE 76 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 50 AMERICAS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR ENERGY APPLICATIONS IN 2025
                    TABLE 77 CRYOCOOLER MARKET FOR ENERGY APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.7 TRANSPORT
             11.7.1 SUPERCONDUCTING MAGNETS IN MAGLEV TRAINS
             11.7.2 LNG FOR FLEET VEHICLES
                    TABLE 78 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                    TABLE 79 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, 2020–2025 (USD MILLION)
                    TABLE 80 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 81 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 82 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 51 AMERICAS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS IN 2025
                    TABLE 83 CRYOCOOLER MARKET FOR TRANSPORT APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.8 RESEARCH AND DEVELOPMENT
             11.8.1 NUCLEAR MAGNETIC RESONANCE
                        11.8.1.1 Increasing attention of governments toward clean sources of energy to drive market for nuclear magnetic resonance application
             11.8.2 ELECTRON PARAMAGNETIC RESONANCE
                        11.8.2.1 Electron paramagnetic resonance application to witness higher growth owing to its wide use in biological and chemical research applications
                                 TABLE 84 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                                 TABLE 85 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                                 TABLE 86 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                 FIGURE 52 GM CRYOCOOLERS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS FROM 2020 TO 2025
                                 TABLE 87 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                                 TABLE 88 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 89 CRYOCOOLER MARKET FOR RESEARCH AND DEVELOPMENT APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.9 SPACE
             11.9.1 SPACE ASTRONOMY
                        11.9.1.1 Brayton cryocoolers to witness higher adoption in space astronomy applications
             11.9.2 PLANETARY SCIENCE
                        11.9.2.1 Use of mini cryocoolers to reduce IR light contamination in telescopes
                                 TABLE 90 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                                 TABLE 91 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                                 TABLE 92 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                 FIGURE 53 MARKET FOR BRAYTON CRYOCOOLERS FOR SPACE APPLICATIONS TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                                 TABLE 93 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                                 TABLE 94 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                                 TABLE 95 CRYOCOOLER MARKET FOR SPACE APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.10 AGRICULTURE & BIOLOGY
             11.10.1 STORAGE OF BIOLOGICAL CELLS AND SPECIMENS
                    TABLE 96 CRYOCOOLER MARKET FOR AGRICULTURE & BIOLOGY APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 97 CRYOCOOLER MARKET FOR AGRICULTURE & BIOLOGY APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 98 CRYOCOOLER MARKET FOR AGRICULTURE & BIOLOGY APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                    FIGURE 54 CRYOCOOLER MARKET FOR AGRICULTURE & BIOLOGY APPLICATIONS IN APAC TO GROW AT HIGHEST RATE FROM 2020 TO 2025
                    TABLE 99 CRYOCOOLER MARKET FOR AGRICULTURE & BIOLOGY APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.11 MINING AND METAL
             11.11.1 TEMPERING
                        11.11.1.1 Cryocoolers are widely used in prevention of corrosion and wear resistance
             11.11.2 SHRINK FITTING
                        11.11.2.1 Need for maintaining cryogenic temperature in shrink fitting and cold shrinking applications
                                  TABLE 100 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                                  TABLE 101 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
                                  TABLE 102 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                  TABLE 103 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                                  TABLE 104 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
                                  FIGURE 55 AMERICAS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS IN 2025
                                  TABLE 105 CRYOCOOLER MARKET FOR MINING & METAL APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.12 OTHERS
           TABLE 106 CRYOCOOLER MARKET FOR OTHER APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
           TABLE 107 CRYOCOOLER MARKET FOR OTHER APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
           TABLE 108 CRYOCOOLER MARKET FOR OTHER APPLICATIONS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
           TABLE 109 CRYOCOOLER MARKET FOR OTHERS APPLICATIONS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
           TABLE 110 CRYOCOOLER MARKET FOR OTHER APPLICATIONS, BY REGION, 2016–2019 (USD MILLION)
           FIGURE 56 AMERICAS TO HOLD LARGEST SIZE OF CRYOCOOLER MARKET FOR OTHER APPLICATIONS IN 2025
           TABLE 111 CRYOCOOLER MARKET FOR OTHER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
     11.13 IMPACT OF COVID-19 ON APPLICATION SEGMENT
             11.13.1 IMPACT OF COVID-19 ON MEDICAL APPLICATION SEGMENT
                     FIGURE 57 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: MEDICAL APPLICATION SEGMENT
             11.13.2 IMPACT OF COVID 19 ON MILITARY APPLICATION SEGMENT
                     FIGURE 58 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: MILITARY APPLICATION SEGMENT
             11.13.3 IMPACT OF COVID 19 ON SPACE APPLICATION SEGMENT
                     FIGURE 59 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: SPACE APPLICATION SEGMENT

12 REGIONAL ANALYSIS (Page No. - 146)
     12.1 INTRODUCTION
          FIGURE 60 GEOGRAPHIC ANALYSIS OF CRYOCOOLER MARKET
          TABLE 112 CRYOCOOLER MARKET, BY REGION, 2016–2019 (USD MILLION)
          TABLE 113 CRYOCOOLER MARKET, BY REGION, 2020–2025 (USD MILLION)
     12.2 AMERICAS
          FIGURE 61 SNAPSHOT OF CRYOCOOLER MARKET IN AMERICAS
             12.2.1 IMPACT OF COVID-19
                    FIGURE 62 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: CRYOCOOLER MARKET IN AMERICAS
                    TABLE 114 CRYOCOOLER MARKET IN AMERICAS, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 115 CRYOCOOLER MARKET IN AMERICAS, BY APPLICATION, 2020–2025 (USD MILLION)
                    TABLE 116 CRYOCOOLER MARKET IN AMERICAS, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 117 CRYOCOOLER MARKET IN AMERICAS, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 118 CRYOCOOLER MARKET IN AMERICAS, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 119 CRYOCOOLER MARKET IN AMERICAS, BY REGION, 2020–2025 (USD MILLION)
             12.2.2 NORTH AMERICA
                    TABLE 120 CRYOCOOLER MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 121 CRYOCOOLER MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 122 CRYOCOOLER MARKET IN NORTH AMERICA, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 123 CRYOCOOLER MARKET IN NORTH AMERICA, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 124 CRYOCOOLER MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 125 CRYOCOOLER MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
                        12.2.2.1 US
                                     12.2.2.1.1 Well-established military industry and high expenditure on healthcare equipment to drive market growth
                                                TABLE 126 CRYOCOOLER MARKET IN US, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                                TABLE 127 CRYOCOOLER MARKET IN US, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                        12.2.2.2 Canada
                                     12.2.2.2.1 Growing medical and healthcare expenditure to spur demand for cryocoolers
                                                TABLE 128 CRYOCOOLER MARKET IN CANADA, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                                                TABLE 129 CRYOCOOLER MARKET IN CANADA, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                        12.2.2.3 Mexico
                                     12.2.2.3.1 Increasing exports of semiconductors to drive cryocooler market
             12.2.3 SOUTH AMERICA
                    TABLE 130 CRYOCOOLER MARKET IN SOUTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 131 CRYOCOOLER MARKET IN SOUTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
                    TABLE 132 CRYOCOOLERS MARKET IN SOUTH AMERICA, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 133 CRYOCOOLERS MARKET IN SOUTH AMERICA, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 134 CRYOCOOLER MARKET IN SOUTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 135 CRYOCOOLERS MARKET IN SOUTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
                        12.2.3.1 Brazil
                                     12.2.3.1.1 Cryocooler market in Brazil is dominated by imports of medical devices
                        12.2.3.2 Argentina
                                     12.2.3.2.1 Cryocooler services segment to provide substantial opportunity for players in this market
                        12.2.3.3 Rest of South America
     12.3 EUROPE
          FIGURE 63 SNAPSHOT OF CRYOCOOLER MARKET IN EUROPE
             12.3.1 IMPACT OF COVID-19
                    FIGURE 64 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: CRYOCOOLER MARKET IN EUROPE
                    TABLE 136 CRYOCOOLER MARKET IN EUROPE, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 137 CRYOCOOLER MARKET IN EUROPE, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 138 CRYOCOOLER MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 139 CRYOCOOLER MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)
                    TABLE 140 CRYOCOOLER MARKET IN EUROPE, BY COUNTRY/REGION, 2016–2019 (USD MILLION)
                    TABLE 141 CRYOCOOLER MARKET IN EUROPE, BY COUNTRY/REGION, 2020–2025 (USD MILLION)
             12.3.2 GERMANY
                        12.3.2.1 Manufacturing, industrial electronics, and medical electronics segments to be driven by cryocooler demand in Germany
             12.3.3 UK
                        12.3.3.1 UK is second-largest market for cryocoolers in Europe due to presence of large number of medical device manufacturers
             12.3.4 FRANCE
                        12.3.4.1 Market in France is expected to grow at highest CAGR in Europe during forecast period
             12.3.5 RUSSIA
                        12.3.5.1 Strong base for military & defense, and space programs to create additional demand for cryocoolers by 2025
             12.3.6 REST OF EUROPE
     12.4 APAC
          FIGURE 65 SNAPSHOT OF CRYOCOOLER MARKET IN APAC
             12.4.1 IMPACT OF COVID-19
                    FIGURE 66 SCENARIO ANALYSIS: PRE- AND POST-COVID-19 ANALYSIS: APAC CRYOCOOLER MARKET
                    TABLE 142 CRYOCOOLER MARKET IN APAC, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 143 CRYOCOOLER MARKET IN APAC, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 144 CRYOCOOLER MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 145 CRYOCOOLER MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)
                    TABLE 146 CRYOCOOLER MARKET IN APAC, BY COUNTRY/REGION, 2016–2019 (USD MILLION)
                    TABLE 147 CRYOCOOLER MARKET IN APAC, BY COUNTRY/REGION, 2020–2025 (USD MILLION)
             12.4.2 JAPAN
                        12.4.2.1 Well established infrastructure and rising government expenditure in medical, military, and research and development sectors to boost growth of cryocooler market in Japan
             12.4.3 CHINA
                        12.4.3.1 China is second-largest cryocooler market in APAC owing to increasing investments in various end-user segments
             12.4.4 SOUTH KOREA
                        12.4.4.1 Cryocooler market in South Korea is driven by growth from electronics and semiconductor manufacturing companies
             12.4.5 INDIA
                        12.4.5.1 Prominent growth in medical equipment market to spur demand for cryocoolers in India
             12.4.6 REST OF APAC
     12.5 ROW
             12.5.1 IMPACT OF COVID-19
                    TABLE 148 CRYOCOOLER MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)
                    TABLE 149 CRYOCOOLER MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)
                    TABLE 150 CRYOCOOLER MARKET IN ROW, BY CRYOCOOLER TYPE, 2016–2019 (USD MILLION)
                    TABLE 151 CRYOCOOLER MARKET IN ROW, BY CRYOCOOLER TYPE, 2020–2025 (USD MILLION)
                    TABLE 152 CRYOCOOLER MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 153 CRYOCOOLER MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)
             12.5.2 MIDDLE EAST
                        12.5.2.1 Huge oil & gas reserves and petrochemical industries to drive cryocooler demand
             12.5.3 AFRICA
                        12.5.3.1 Emerging region for telecommunication industry and increasing manufacturing facilities

13 COMPETITIVE LANDSCAPE (Page No. - 177)
     13.1 INTRODUCTION
FIGURE 67 KEY GROWTH STRATEGIES ADOPTED BY TOP COMPANIES FROM 2017 TO 2020
     13.2 COMPETITIVE LEADERSHIP MAPPING
             13.2.1 STAR
             13.2.2 PERVASIVE
             13.2.3 EMERGING LEADERS
             13.2.4 PARTICIPANTS
                    FIGURE 68 CRYOCOOLER MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
     13.3 MARKET SHARE ANALYSIS OF TOP 5 PLAYERS IN CRYOCOOLER MARKET, 2019
          TABLE 154 MARKET SHARE OF TOP 5 PLAYERS IN CRYOCOOLER MARKET IN 2019
     13.4 MARKET EVALUATION FRAMEWORK
          FIGURE 69 PRODUCT LAUNCHES FUELLED GROWTH AND INNOVATION FROM 2017 TO 2020 IN CRYOCOOLER MARKET
     13.5 RECENT DEVELOPMENTS
          TABLE 155 NEW PRODUCT LAUNCHES, 2017–2020
          TABLE 156 CONTRACTS, AGREEMENTS, & PARTNERSHIPS, 2019–2020
          TABLE 157 MERGERS & ACQUISITIONS, 2017–2020

14 COMPANY PROFILES (Page No. - 186)
     14.1 INTRODUCTION
     14.2 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
             14.2.1 SUMITOMO HEAVY INDUSTRIES LIMITED
                    FIGURE 70 SUMITOMO HEAVY INDUSTRIES LIMITED: COMPANY SNAPSHOT
             14.2.2 CHART INDUSTRIES, INC.
                    FIGURE 71 CHART INDUSTRIES, INC.: COMPANY SNAPSHOT
             14.2.3 SUNPOWER, INC. (AMETEK, INC.)
             14.2.4 CRYOMECH, INC.
             14.2.5 NORTHROP GRUMMAN CORPORATION
                    FIGURE 72 NORTHROP GRUMMAN CORPORATION: COMPANY SNAPSHOT
             14.2.6 ADVANCED RESEARCH SYSTEMS, INC.
             14.2.7 JANIS RESEARCH COMPANY, LLC
             14.2.8 RICOR – CRYOGENIC & VACUUM SYSTEMS
             14.2.9 SUPERCONDUCTOR TECHNOLOGIES, INC. (ALLIED INTEGRAL UNITED, INC.)
                    FIGURE 73 SUPERCONDUCTOR TECHNOLOGIES, INC.: COMPANY SNAPSHOT
             14.2.10 AIR LIQUIDE SA
                     FIGURE 74 AIR LIQUIDE SA: COMPANY SNAPSHOT
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
     14.3 OTHER IMPORTANT PLAYERS
             14.3.1 OXFORD CRYOSYSTEMS
             14.3.2 CREARE LLC
             14.3.3 LIHAN CRYOGENIC TECHNOLOGY CO., LTD
             14.3.4 TRISTAN TECHNOLOGIES, INC.S
             14.3.5 VACREE TECHNOLOGIES CO., LTD.
             14.3.6 HONEYWELL INTERNATIONAL INC.
             14.3.7 BRIGHT INSTRUMENTS
             14.3.8 ACME CRYOGENICS
             14.3.9 THALES CRYOGENICS BV
             14.3.10 FABRUM SOLUTIONS LIMITED

15 APPENDIX (Page No. - 221)
     15.1 INSIGHTS OF INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

The research study involved 4 major activities in estimating the size of the cryocooler market. Exhaustive secondary research has been done to collect significant information on the cryocooler market, peer market, and parent market. The validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. Post which the market breakdown and data triangulation have been used to estimate the market sizes of segments and sub-segments.

Secondary Research

The secondary sources referred for this research study includes Cryogenic Society of America, Inc., CryoChronicle, Cryogenics and Superconductivity Society of Japan, Cryofab, The Cryogenics Society of Europe and Indian Cryogenic Council.

In the cryocooler market report, the top-down as well as the bottom-up approaches have been used for the estimation and validation of the size of the cryocooler market, along with several other dependent sub-segments. The major players in the cryocooler market were identified using extensive secondary research and their presence using primary and secondary research. All the percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the cryocooler market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions—the Americas, Europe, Asia Pacific (APAC), and the Rest of the World (Russia, the Middle East, and Africa). Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. These primary data have been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.

After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Cryocooler Market Size, and Share

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

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the cryocooler market, as well as that of various other dependent submarkets. The research methodology used to estimate the market sizes includes the following:

  • Analyzing each country, along with the presence of related major companies and system integrators in the countries, and identifying the service providers in the cryocooler market
  • Identifying the market for each type of cryocooler (Gifford-McMahon Cryocoolers, Pulse-Tube Cryocoolers, Stirling Cryocoolers, Joule Thomson Cryocoolers, Brayton Cryocoolers) in each country and globally
  • Identifying the major applications of cryocoolers, along with the types of cryocoolers required for various applications
  • Estimated total cryocooler unit shipment globally by adding regional data (the Americas, Europe, APAC, and RoW)
  • Estimated weighted average cost of cryocoolers
  • Tracking the ongoing and upcoming implementation of cryocoolers by various companies in each region, and application, and forecasting the size of the cryocooler market based on these developments and other critical parameters including the impact of COVID-19 on this market
  • Arriving at the size of the overall market by adding the size of the region-wise markets

Cryocooler Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall cryocooler market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the cryocooler market has been validated using both top-down and bottom-up approaches.

The main objectives of this study are as follows:

  • To define, describe, and forecast the overall cryocooler market based on hardware and service, type, heat exchanger type, application, and region
  • To provide the market statistics with detailed classifications, along with the respective market size
  • To strategically analyze the micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
  • To provide detailed information regarding the key factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and winning imperatives)
  • To provide a detailed market life cycle analysis, along with technology and market roadmap for the overall cryocooler market
  • To forecast the size of the market segments with respect to four main regions (along with countries—the Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To analyze the opportunities in the market for stakeholders and detail the competitive landscape for the market players
  • To strategically profile the key players operating in the cryocooler market and comprehensively analyze their market rankings and core competencies2
  • To track and analyze the competitive developments such as joint ventures, mergers & acquisitions, new product launches, and R&D activities in the overall cryocooler market
  • To map the competitive intelligence based on the company profiles, strategies of the key players, and game-changing developments such as product developments, collaborations, and acquisitions

Available Customizations:

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

Geographic Analysis

  • Detailed analysis of further country-level information for hardware and & services in each region
  • Detailed analysis of further country-level information for end users in each region
  • Detailed analysis of further country-level information for cryocooler type in each region/country
  • Comprehensive coverage of regulations followed in each region (North America, APAC, Europe, and RoW)

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Cryocooler Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Cryocooler Market

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Report Code
SE 4258
Published ON
Oct, 2020
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