HOME Top Market Reports Cryocooler Market by Type (GM, PT, JT, Stirling, and Brayton Cryocoolers), Services (Technical Support, Repair, Preventive Maintenance), Heat Exchanger Type (Recuperative and Regenerative), Application, and Geography - Global Forecast to 2022

Cryocooler Market by Type (GM, PT, JT, Stirling, and Brayton Cryocoolers), Services (Technical Support, Repair, Preventive Maintenance), Heat Exchanger Type (Recuperative and Regenerative), Application, and Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: March 2017
Report Code: SE 4258

 

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The global cryocooler market is projected to grow from USD 1.96 Billion in 2016 to USD 2.99 Billion by 2022, at a CAGR of 7.00% between 2017 and 2022. This report provides the market size and future growth potential of the cryocooler market across different segments such as hardware & services, type, heat exchanger type, application, and geography. The study identifies and analyzes market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the cryocooler market. This report also profiles the key players operating in the cryocooler market. The base year considered for the study is 2016 and the market size forecast is provided for the period between 2017 and 2022.

The research methodology used to estimate and forecast the cryocooler market begins with capturing data on key vendor revenues through secondary research. Some of the secondary sources include associations such as Cryogenic Society of America, Inc. (U.S.), CryoChronicle (U.S.), Cryogenics and Superconductivity Society of Japan (Japan), Cryofab (U.S.), The Cryogenics Society of Europe (Netherlands), and Indian Cryogenic Council (India) among others. 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 the 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 prototype designers, hardware component manufacturers, and original equipment manufacturers (OEMs) such as Sumitomo Heavy Industries Ltd. (Japan), Chart Industries, Inc. (U.S.), Brooks Automation, Inc. (U.S.), Sunpower, Inc. (U.S.), and Cryomech, Inc. (U.S.). The prototype designers design cryocooler equipment pertaining to the industry needs, and the hardware component manufacturers provide various ancillary units such as compressors, cold heads, heat dissipation pipes, valves, dewars, and power conditioning units, which are used to manufacture the final product. The assembly phase of the cryocooler value chain consists of original equipment manufacturers (OEMs) and technology solution providers that offer services with or without customization based on the application of the products.

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

The cryocooler market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The cryocoolers market has been segmented as follows:

By Hardware & Service:

  • Hardware
    • Compressors
    • Cold heads
    • Heat dissipation pipes
    • Power conditioning units
    • Others  (pressure vessels, feedthrough pipes, service tubes, and vibration absorbers)
  • Services
    • Technical support services
    • Product repairs & refurbishment services
    • Preventive maintenance services
    • Customer training services

By Type:

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

By Heat Exchanger Type

  • Recuperative heat exchangers
  • Regenerative heat exchangers

By Application:

  • Military
  • Medical
  • Commercial
  • Environmental
  • Energy & power
  • Transport
  • Mining and metal
  • Research and development
  • Space
  • Agriculture & biology
  • Others (LNG for peak shaving and superconducting quantum interference devices (SQUIDS))

By Geography:

  • 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 cryocooler 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 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           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
    2.2 Secondary and Primary Research
                    2.2.1.1 Key Industry Insights
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
                    2.3.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.3.2 Top-Down Approach
                    2.3.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities for the Cryocooler Market
    4.2 Cryocooler Market,  By Application
    4.3 Cryocooler Market in Apac,  2016
    4.4 Life Cycle Analysis,  By Geography

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Scarcity of Helium Gas
                    5.3.1.2 Growing Medical and Healthcare Services in Developing Economies
                    5.3.1.3 Growing Production of Liquefied Natural Gas to Increase the Demand for Cryocoolers for Transportation
                    5.3.1.4 Increasing Adoption of Cryocoolers in the Semiconductor Industry
           5.3.2 Restraints
                    5.3.2.1 Input Power Consumption of Cryocoolers
           5.3.3 Opportunities
                    5.3.3.1 Increasing Requirement for Cryogenic Refrigeration in Various Space Applications
                    5.3.3.2 Advancement of Cryocoolers for Microsatellite Military Applications
                    5.3.3.3 Increasing Product Launches in the Cryocooler Market
           5.3.4 Challenges
                    5.3.4.1 Performance Constraint of Cryocoolers
           5.3.5 Winning Imperative
                    5.3.5.1 Reduction in the Cost of Cryocoolers

6 Industry Trends (Page No. - 46)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking
           6.3.1 Technology Integration and Product Enhancement

7 Market,  By Hardware and Service (Page No. - 48)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Compressors
           7.2.2 Cold Heads
           7.2.3 Heat Dissipation Pipes
           7.2.4 Power Conditioning Units
           7.2.5 Others
    7.3 Services
           7.3.1 Technical Support Services
           7.3.2 Product REPAirs & Refurbishment Services
           7.3.3 Preventive Maintenance Services
           7.3.4 Customer Training Services

8 Market,  By Type (Page No. - 54)
    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. - 67)
    9.1 Introduction
    9.2 Recuperative Heat Exchangers
    9.3 Regenerative Heat Exchangers

10 Market,  By Application (Page No. - 72)
     10.1 Introduction
     10.2 Military
             10.2.1 IR Sensors for Missile Guidance
             10.2.2 IR Sensors for Satellite-Based Surveillance
     10.3 Medical
             10.3.1 Cooling Superconducting Magnets for Mri Systems
             10.3.2 Liquefaction of Oxygen for Storage
             10.3.3 Cryosurgery
     10.4 Commercial
             10.4.1 Semiconductor Fabrication
             10.4.2 High-Temperature Superconductors for Cell-Phone Base Stations
             10.4.3 IR Sensors for Nde and Process Monitoring
     10.5 Environmental
             10.5.1 IR Sensors for Atmospheric Studies on Ozone Hole and Green House Effects
             10.5.2 IR Sensors for Pollution Monitoring
     10.6 Energy
             10.6.1 IR Sensors for Thermal Loss Measurements
             10.6.2 Superconducting Magnetic Energy Storage for Peak Shaving
     10.7 Transport
             10.7.1 Superconducting Magnets in Maglev Trains
             10.7.2 Lng for Fleet Vehicles
     10.8 Research and Development
             10.8.1 Nuclear Magnetic Resonance (NMR)
             10.8.2 Electron Paramagnetic Resonance (EPR)
     10.9 Space
             10.9.1 Space Astronomy
             10.9.2 Planetary Science
     10.1 Agriculture & Biology
             10.10.1 Storage of Biological Cells and Specimens
     10.11 Mining and Metal
             10.11.1 Tempering
             10.11.2 Shrink Fitting
     10.12 Others

11 Market,  By Geography (Page No. - 100)
     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 Increasing Exports of Semiconductors to Drive the Cryocooler Market in Mexico
             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 Largest Market for Cryocoolers in Europe
             11.4.3 France
                        11.4.3.1 Third-Largest Market in the Cryocooler Market in Europe
             11.4.4 Rest of Europe
                        11.4.4.1 Growing Economic Conditions
     11.5 Asia Pacific (APAC)
             11.5.1 Japan
                        11.5.1.1 A Substantial Mature Market
             11.5.2 China
                        11.5.2.1 Second Largest Market for Cryocoolers in APAC
             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 Emerging Markets Such as Australia and Indonesia With Significant Potential
     11.6 Rest of the World (RoW)
             11.6.1 Middle East
                                     11.6.1.1.1 Huge Oil & Gas Reserves and Petrochemical Industries
             11.6.2 Africa
                        11.6.2.1 Emerging Region for Telecommunication Industry

12 Competitive Landscape (Page No. - 124)
     12.1 Introduction
             12.1.1 Vanguards
             12.1.2 Dynamic
             12.1.3 Innovators
             12.1.4 Emerging
     12.2 Overview
     12.3 Business Strategies
     12.4 Product Offerings
*Top 25 Companies Analyzed for This Study are - Sumitomo Heavy Industries Ltd.; Chart Industries Inc.; Brooks Automation Inc.; Sunpower Inc.; Cryomech Inc.; Northrop Grumman Corporation; Advanced Research Systems Inc.;Dh Industries Bv; Janis Research Company LLC.; Ricor – Cryogenic & Vacuum Systems; Superconductor Technologies Inc.; Air Liquide S.A.; Thales Cryogenics; Oxford Cryosystems; Creare LLC; L-3 Cincinnati Electronics; Fabrum Solutions Limited; Stratox; Lihan Technology Co. Ltd.; Tristan Technologies; Aim Infrarot-Module GmbH; Sierra Lobo; Vacree Technologies Co. Ltd.; Le-Tehnika D.O.O.
     12.5 Market Ranking of Top 5 Players in the Cryocooler Market,  2016
     12.6 Competitive Scenario
     12.7 Recent Developments

13 Company Profiles (Page No. - 133)
     13.1 Introduction
(Business Overview,  Products Offered & Services Strategies,  Recent Developments,  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 Northrop Grumman Corporation
     13.8 Advanced Research Systems,  Inc.
     13.9 DH Industries Bv
     13.10 Janis Research Company,  LLC
     13.11 Ricor – Cryogenic & Vacuum Systems
     13.12 Superconductor Technologies,  Inc.
     13.13 Air Liquide SA
     13.14 Key Innovators
             13.14.1 Thales Cryogenics
             13.14.2 Fabrum Solutions Limited

*Details on Business Overview,  Products Offered & Services Strategies,  Recent Developments,  MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 170)
     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
     14.7 Author Details


List of Tables (70 Tables)

Table 1 Nominal Liquefaction Capacity (Mtpa),  2009–2021
Table 2 Advantages and Disadvantages of Different Cooler Technologies
Table 3 Cryocooler Market,  By Hardware,  2014–2022 (USD Million)
Table 4 Cryocooler Market,  By Service,  2014–2022 (USD Million)
Table 5 Cryocooler Market,  By Type,  2014–2022 (USD Million)
Table 6 Market for Gifford-Mcmahon Cryocoolers,  By Region,  2014–2022 (USD Million)
Table 7 Market for Gifford-Mcmahon Cryocoolers,  By Application,  2014–2022 (USD Million)
Table 8 Market for Pulse-Tube Cryocoolers,  By Region,  2014–2022 (USD Million)
Table 9 Market for Pulse-Tube Cryocoolers,  By Application,  2014–2022 (USD Million)
Table 10 Legacy Programs Wherein Stirling Cryocoolers Were Used
Table 11 Market for Stirling Cryocoolers,  By Region,  2014–2022 (USD Million)
Table 12 Market for Stirling Cryocoolers,  By Application,  2014–2022 (USD Million)
Table 13 Market for Joule Thomson Cryocoolers,  By Region,  2014–2022 (USD Million)
Table 14 Market for Joule Thomson Cryocoolers,  By Application,  2014–2022 (USD Million)
Table 15 Market for Brayton Cryocoolers,  By Region,  2014–2022 (USD Million)
Table 16 Market for Brayton Cryocoolers,  By Application,  2014–2022 (USD Million)
Table 17 Cryocooler Market,  By Heat Exchanger Type,  2014–2022 ( USD Million)
Table 18 Market for Recuperative Heat Exchangers,  By Cryocooler Type,  2014–2022 ( USD Million)
Table 19 Market for Regenerative Heat Exchangers,  By Cryocooler Type,  2014–2022 ( USD Million)
Table 20 Cryocooler Market,  By Application,  2014–2022 (USD Million)
Table 21 Cryocooler Market for Military Applications,  2014–2022 (USD Million)
Table 22 Cryocooler Market for Military Applications,  By Type,  2014–2022 (USD Million)
Table 23 Cryocooler Market for Military Applications,  By Region,  2014–2022 (USD Million)
Table 24 Cryocooler Market for Medical Applications,  2014–2022 (USD Million)
Table 25 Cryocooler Market for Medical Applications,  By Type,  2014–2022 (USD Million)
Table 26 Cryocooler Market for Medical Applications,  By Region,  2014–2022 (USD Million)
Table 27 Cryocooler Market for Commercial Applications,  2014–2022 (USD Million)
Table 28 Cryocooler Market for Commercial Applications,  By Type,  2014–2022 (USD Million)
Table 29 Cryocooler Market for Commercial Applications,  By Region,  2014–2022 (USD Million)
Table 30 Cryocooler Market for Environmental Applications,  2014–2022 (USD Million)
Table 31 Cryocooler Market for Environmental Applications,  By Type,  2014–2022 (USD Million)
Table 32 Cryocooler Market for Environmental Applications,  By Region,  2014–2022 (USD Million)
Table 33 Cryocooler Market for Energy Applications,  2014–2022 (USD Million)
Table 34 Cryocooler Market for Energy Applications,  By Type,  2014–2022 (USD Million)
Table 35 Cryocooler Market for Energy Applications,  By Region,  2014–2022 (USD Million)
Table 36 Cryocooler Market for Transport Applications,  2014–2022 (USD Million)
Table 37 Cryocooler Market for Transport Applications,  By Type,  2014–2022 (USD Million)
Table 38 Cryocooler Market for Transport Applications,  By Region,  2014–2022 (USD Million)
Table 39 Cryocooler Market for Research and Development Applications,  2014–2022 (USD Million)
Table 40 Cryocooler Market for Research and Development Applications,  By Type,  2014–2022 (USD Million)
Table 41 Cryocooler Market for Research and Development Applications,  By Region,  2014–2022 (USD Million)
Table 42 Cryocooler Market for Space Applications,  2014–2022 (USD Million)
Table 43 Cryocooler Market for Space Applications,  By Type,  2014–2022 (USD Million)
Table 44 Cryocooler Market for Space Applications,  By Region,  2014–2022 (USD Million)
Table 45 Cryocooler Market for Agriculture & Biology Applications,  By Type,  2014–2022 (USD Million)
Table 46 Cryocooler Market for Agriculture & Biology Applications,  By Region,  2014–2022 (USD Million)
Table 47 Cryocooler Market for Mining & Metal Applications,  2014–2022 (USD Million)
Table 48 Cryocooler Market for Mining & Metal Applications,  By Type,  2014–2022 (USD Million)
Table 49 Cryocooler Market for Mining & Metal Applications,  By Region,  2014–2022 (USD Million)
Table 50 Cryocooler Market for Other Applications,  2014–2022 (USD Million)
Table 51 Cryocooler Market for Other Applications,  By Type,  2014–2022 (USD Million)
Table 52 Cryocooler Market for Other Applications,  By Region,  2014–2022 (USD Million)
Table 53 Cryocooler Market,  By Region,  2014–2022 (USD Million)
Table 54 Cryocooler Market in the Americas,  By Region,  2014–2022 (USD Million)
Table 55 Cryocooler Market in North America,  By Country,  2014–2022 (USD Million)
Table 56 Cryocooler Market in the Americas,  By Application,  2014–2022 (USD Million)
Table 57 Cryocoolers Market in the Americas,  By Type,  2014–2022 (USD Million)
Table 58 Cryocooler Market in Europe,  By Country/Region,  2014–2022 (USD Million)
Table 59 Cryocooler Market in Europe,  By Application,  2014–2022 (USD Million)
Table 60 Cryocoolers Market in Europe,  By Type,  2014–2022 (USD Million)
Table 61 Cryocooler Market in APAC,  By Country/Region,  2014–2022 (USD Million)
Table 62 Cryocooler Market in APAC,  By Application,  2014–2022 (USD Million)
Table 63 Cryocoolers Market in APAC,  By Type,  2014–2022 (USD Million)
Table 64 Cryocooler Market in RoW,  By Region,  2014–2022 (USD Million)
Table 65 Cryocooler Market in RoW,  By Application,  2014–2022 (USD Million)
Table 66 Cryocooler Market in RoW,  By Type,  2014–2022 (USD Million)
Table 67 Market Ranking of Top 5 Players in the Cryocooler Market in 2016
Table 68 New Product Launches,  2014–2016
Table 69 Contracts,  Agreements,  & Partnerships,  2014–2016
Table 70 Mergers & Acquisitions,  2014–2016
 
 
List of Figures (71 Figures)
 
Figure 1 Cryocooler Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Military Applications to Hold the Largest Size of the Cryocooler Market By 2022
Figure 6 Gifford-Mcmahon Cryocoolers to Hold the Largest Size of the Cryocooler Market By 2022
Figure 7 Cryocooler Market for Product REPAirs & Refurbishments Services to Grow at the Highest Rate Between 2017 and 2022
Figure 8 Cryocooler Market,  By Region,  2016
Figure 9 Increasing Adoption of Cryocoolers for Various Applications to Drive the Growth of the Market During the Forecast Period
Figure 10 Military Applications to Hold the Largest Size of the Cryocooler Market in 2016
Figure 11 Commercial Applications Held the Largest Share of the Cryocooler Market in APAC in 2016
Figure 12 Cryocooler Market in APAC is Expected to Be in the Growth Phase During the Forecast Period
Figure 13 Evolution of the Cryocooler Market
Figure 14 Market Dynamics: Overview
Figure 15 Health Expenditure as A Percentage of GDP
Figure 16 Value Chain Analysis: Major Value is Added During the Manufacturing and Assembly Phases
Figure 17 Strategic Benchmarking: Key Players Largely Adopt Organic Growth Strategies for New Product and Technology Development
Figure 18 Cryocooler Market,  By Hardware
Figure 19 Compressors to Hold the Largest Size of the Cryocooler Market for Hardware By 2022
Figure 20 Cryocooler Market,  By Service
Figure 21 Cryocooler Market for Product REPAirs & Refurbishment Services to Grow at the Highest Rate Between 2017 and 2022
Figure 22 Cryocooler Market,  By Type
Figure 23 Gifford-Mcmahon Cryocoolers to Hold the Largest Size of the Cryocooler Market By 2022
Figure 24 Americas Expected to Hold the Largest Size of the Market for Gifford-Mcmahon Cryocoolers in 2017
Figure 25 Americas to Hold the Largest Size of the Market for Pulse-Tube Cryocoolers Between 2017 and 2022
Figure 26 Market for Stirling Cryocoolers in APAC to Grow at the Highest Rate Between 2017 and 2022
Figure 27 Americas to Hold the Largest Size of the Market for Joule Thomson Cryocoolers By 2022
Figure 28 Market for Brayton Cryocoolers in the Americas to Grow at the Highest Rate Between 2017 and 2022
Figure 29 Cryocooler Market,  By Heat Exchanger Type
Figure 30 Regenerative Heat Exchangers to Lead the Cryocooler Market Between 2017 and 2022
Figure 31 Market for Regenerative Heat Exchangers for Stirling Cryocoolers to Grow at the Highest Rate Between 2017 and 2022
Figure 32 Cryocooler Market,  By Application
Figure 33 Military Applications to Hold the Largest Size of the Cryocooler Market in 2017
Figure 34 Stirling Cryocoolers to Hold the Largest Size of the Cryocooler Market for Military Applications By 2022
Figure 35 Cryocooler Market for Medical Applications in APAC to Grow at the Highest Rate Between 2017 and 2022
Figure 36 Cryocooler Market for Commercial Applications in APAC to Grow at the Highest Rate Between 2017 and 2022
Figure 37 Market for GM Cryocoolers for Environmental Applications to Grow at the Highest Rate Between 2017 and 2022
Figure 38 Americas to Hold the Largest Size of the Cryocooler Market for Energy Applications By 2022
Figure 39 Americas to Hold the Largest Size of the Cryocooler Market for Transport Applications By 2022
Figure 40 GM Cryocoolers to Hold the Largest Size of the Cryocooler Market for Research and Development Applications in 2017
Figure 41 Market for Brayton Cryocoolers for Space Applications to Grow at the Highest Rate Between 2017 and 2022
Figure 42 Americas to Hold the Largest Size of the Cryocooler Market for Space Applications in 2017
Figure 43 Cryocooler Market for Agriculture & Biology Applications to Grow at the Highest Rate Between 2017 and 2022
Figure 44 Americas to Hold the Largest Size of the Cryocooler Market for Mining & Metal Applications By 2022
Figure 45 Americas to Hold the Largest Size of the Cryocooler Market for Others Applications By 2022
Figure 46 Cryocooler Market,  By Region
Figure 47 Geographic Analysis of the Cryocooler Market
Figure 48 Americas to Hold the Largest Size of the Cryocooler Market in 2017
Figure 49 Snapshot of the Cryocooler Market in the Americas
Figure 50 U.S. to Hold the Largest Size of the Cryocooler Market in North America By 2022
Figure 51 Military Applications to Hold the Largest Size of the Cryocooler Market in the Americas By 2022
Figure 52 GM Cryocoolers to Hold the Largest Size of the Cryocooler Market in the Americas By 2022
Figure 53 Snapshot of the Cryocooler Market in Europe
Figure 54 U.K. to Hold the Largest Size of the Cryocooler Market in Europe in 2017
Figure 55 Market for Stirling Cryocoolers in Europe to Grow at the Highest Rate Between 2017 and 2022
Figure 56 Snapshot of the Cryocooler Market in Apac
Figure 57 Cryocooler Market in India to Grow at the Highest Rate Between 2017 and 2022
Figure 58 Commercial Applications to Hold the Largest Share of the Cryocooler Market in APAC By 2022
Figure 59 GM Cryocoolers to Hold the Largest Size of the Cryocoolers Market in APAC in 2022
Figure 60 Africa to Hold the Largest Size of the Cryocooler Market in RoW in 2017
Figure 61 Market for Pt Cryocoolers in RoW to Grow at the Highest Rate Between 2017 and 2022
Figure 62 Dive Chart
Figure 63 Key Growth Strategies Adopted By the Top Companies Between 2014 and 2016
Figure 64 Battle for Market Share: New Product Launches Emerged as the Key Strategy Between 2014 and 2016
Figure 65 Geographic Revenue Mix of Major Market Players
Figure 66 Sumitomo Heavy Industries Limited: Company Snapshot
Figure 67 Chart Industries,  Inc.: Company Snapshot
Figure 68 Brooks Automation,  Inc.: Company Snapshot
Figure 69 Northrop Grumman Corporation: Company Snapshot
Figure 70 Superconductor Technologies,  Inc.: Company Snapshot
Figure 71 Air Liquide SA: Company Snapshot

The global cryocooler market is projected to reach USD 2.99 Billion by 2022, at a CAGR of 7.00% between 2017 and 2022. The market is mainly driven by the growing medical & healthcare services in developing economies and the rapid shortage of helium gas. In addition, factors such as increased production of liquefied natural gas and growing adoption of cryocoolers in the semiconductor industry are also driving the growth of this market.

Gifford-McMahon (GM), Pulse-Tube (PT), Joule-Thomson (JT), Stirling, and Brayton cryocoolers are the major cryocooler types that have been considered for this study. Among these cryocooler types, the market for Stirling 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 Stirling cryocoolers in different applications such as military, medical, commercial, research and development, and space. The advantages of Stirling cryocoolers include high efficiency, small size, and less weight; they also offer reliable operations with very little maintenance required, if designed correctly.

The military, medical, commercial, environmental, energy, transport, research and development, and space are some of the key application areas of cryocoolers. The cryocoolers market for the military application held the largest market share in 2016, followed by the markets for commercial, research & development, medical, 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 cryocoolers market in the Americas region held the highest size in terms of value in 2016, while the market in APAC is expected to exhibit the highest growth rate between 2017 and 2022. The major factors contributing to the growth of this market include the increasing adoption of various cryocoolers in medical, space, military, and research and development applications. 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, the high power consumption of cryocoolers may hinder the growth of the market. This is because input power of cryocooler is largely dependent on heating load and operating temperature. In general, the 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 prominent players in the cryocooler market worldwide. 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. The company is concentrating on business expansion in China, and hence moved to a new and larger facility in Shanghai. It also established a locally domiciled independent corporation in April 2016 as a part of its expansion strategy. The company has developed cryocoolers for MRI applications by offering customers value added proposals over the range of customer business activities, from development and manufacturing to installation of after sales service. It also strengthened its marketing activities aimed at semiconductor manufacturing equipment players who require cryogenic machines. The precision equipment group closely monitors the demand trends in semiconductor and other equipment and focuses on meeting consumers’ demand. Thus, new offerings and expansions help the company to gain more revenues besides catering to wide range of customer requirements.

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