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Cryocooler Market - Forecast (2021-2026)

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    Report

  • 102 Pages
  • September 2021
  • Region: Global
  • IndustryARC
  • ID: 3919936

Cryocooler Market Overview


Cryocooler Market Size is forecast to reach $18.4 billion by 2026, at a CAGR of 8.5% during 2021-2026. Cryocoolers are standalone devices utilized for providing cooling temperatures at different cryogenic levels. There are different types of cryocoolers available based upon the operating thermodynamic cycles. These cycles assist cryocoolers to attain different levels of cryogenic temperatures that are applicable to specific set of applications in plethora of industry verticals. Cryocooler is a mechanical refrigerator designed to cool an application down to cryogenics temperatures. Cryocoolers are significantly used for applications in the transportation/storage of gases at extremely low temperatures as well as cooling of products, particularly infrared products in various applications. Cryocooling solutions have been witnessing a wide popularity across the major end-use verticals including medical, mining, power plants and are subjected to repeated as well as continuous usage, the need for regular maintenance or repair, fixing customer queries in times of malfunctioning, replacing spare parts with new ones and so on becomes highly essential. These services help the end-use customers to continue production activities without causing time delays, operation failures and hampering business productivity.

Report Coverage


The report: “Cryocooler Market Report- Forecast (2021-2026)” covers an in-depth analysis of the following segments of the Cryocooler market

By Rotor Type: Inner Rotor, Outer Rotor.

By Type: Single Phase, Three Phase.

By Efficiency Class: IE1, IE2, IE3, IE4.

By Output Power: Upto 350W, 350-700W, 700-1000W, 1-2KW, 2-5KW, 5KW and Above.

By Speed: Upto 500RPM, 500-1000RPM, 1000-2000RPM, 2000-5000RPM, 5000-10000RPM, 10000RPM and Above.

By Voltage: Upto 1KV, 1-6.6 KV, Above 6.6KV.

By Vertical: Industrial, Commercial, Residential, Agriculture, Automotive and Others.

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa).

Key Takeaways

  • Technical Support services help the users or customers to select best cryocooling components or spare parts according to their industrial requirements, offering details about on-service contracts, or discounted service packages, diagnosis or repairing faults, troubleshooting technical issues along with a proper guidance on servicing intervals. With the help of technical support services, various end-use customers have been able to maximize their productivity with a cost-efficient approach.
  • Scheduled maintenance had been gaining a wide popularity within the cryocooler market owing to various service providers offering maintenance contracts, emergency support, warranty offers and so on. These services have proved to be a beneficial factor as the cryogenic components including compressors, cold heads and so on helps in early detection of defects or damages, which can ultimately benefit the end-use customers to schedule or pre-book repair or refurbishment services, within lesser costs and efforts.
  • Applications including cooling in MRI systems, superconducting magnets, low temperature sensors, storage of biological cells or specimens, cyropumps for semiconductor fabrication, cryosurgery and so on are considered as some of the major factors impacting the growth of various cyrogenic hardware over the years.

Cryocooler Market Segment Analysis - By Temperature Range

50K-100K temperature range type hold the highest market share accounting for $649.3 M in 2020 and $906.0 Million by 2026 with a CAGR of 6.3% over 2021-2026. Cryocoolers which can provide cooling within range of 50K-100K are used for applications including liquefaction of nitrogen & mixed gases and cooling the gas temperature ranges from 60-80 K. Cryocoolers that can supply cooling up to the range of 100K are used in Cooling of satellite typically in the milliwatt range at 60-80K. On January 2020, NASA developed a 20 Watt 20 Kelvin cryocooler is a critical step in enabling zero boil-off of liquid hydrogen. Active thermal control of cryogenic propellants is made possible by integrating a cryocooler to intercept and collect heat from the cryogenic tank support structure and/or a broad area cooled shield. 10K-50K temperature range cryocooler type is witnessing fast growth rate with a CAGR of 7.63% during the forecast period 2021 - 2026 owing to the wide range of applications employed in liquefaction of Solid Hydrogen in the temperature range of 10-14K and liquefaction of hydrogen in the temperature range of 18-30 K.

Cryocooler Market Segment Analysis - By Vertical

In Power and Energy vertical, applications of cryocooler includes LNG for peak shaving, Infrared sensors for thermal loss measurements, SC magnetic energy storage for peak shaving and power conditioning, SC power applications (motors, transformers etc.). The superconductor industry is closely linked to the cryogenic industry due to operating temperatures required for superconductivity being below 130K. Such cooling comes from cryocoolers. The use of a superconductor and the fact that superconductors currently need a cryogenic temperature to operate means SMES is part of the superconductivity and cryogenics industry. Thus, cryocooler play an important role in creating cryogenic temperatures required for superconductivity. In SMES energy is stored in a magnetic field created by the flow of direct current (DC) in a superconducting coil, which has been cryogenically cooled below its critical temperature. Energy storage is a rapidly growing market with a number of trends. The increase in decentralized renewable energy, the advent of smart grids, smart micro-grids and smart houses, the electrification of transport, the increasing demand on the ageing electricity infrastructure and climate change targets are all helping to drive the energy storage market. Thus, with the increase in energy storage devices such as SMES the market growth for cyrocoolers will increase as it used for direct cooling of superconducting magnets.

Cryocooler Market Segment Analysis - By Geography

Geographically, Asia-Pacific hold major share 33.2% of Cryocooler Market share in 2020 terms of revenue owing to increasing applications in Defense sector, Healthcare and Space sector. For instance, On May 2019, China unveiled the prototype for its sleek new magnetic levitation (maglev) train. Developed by the state-owned China Railway Rolling Stock Corporation (CRRC), the world's largest supplier of rail transit equipment announced that the new train is capable of travelling at a speed of 600km/h. Moreover, India’s Defense Research and Development Organization (DRDO) announced that their Anti-Tank Guided Missile (NAG) is set to be exported to global market and India further look to expand its production units. This will propel the application of cryocooler in large scale further enhancing its market growth. South America region is anticipated to witness the significant market growth during the forecast period 2021-2026 with a CAGR of 7.7%. The market growth in this region is mainly due to rising applications of cryocooler such as to offer high speed imaging and sensing infrared detectors across a variety of different sectors, including space, defense and commercial. With Brazil ramping up domestic space satellite, rocket programs the cryocooler market will grow significantly.

Cryocooler Market Drivers


Growing Applications in Military and Defense

The extensive deployment of cryocoolers for defense and military applications such as cooling of infrared focal planes and infrared sensors is likely to be the major driving factor for the growth of global cryocoolers market. Cryocooler are often used for tactical military applications such as airborne, ground mounted and shipboard IR sensors that are associated with cryocoolers for cooling needs. Indium antimonide (InSb), Mercury-cadmium-telluride (HgTeCd) and other prominent detector materials used in these applications are required to be cooled to cryogenic temperatures to ensure proper operation of sensor device by reducing the random transition of electrons between energy bands. Moreover, improving power, size and weight constraints of space qualified cryocoolers boosted the utilization of these devices in large military satellite electro optical infrared missions.

Growing Adoption of Night Vision Cameras

Most of the advanced security cameras are featured with night vision to provide footages of the location even in dark and night conditions. These cameras rely on infrared light and capture footages by lighting the field of view with infrared light source. Night vision cameras installed in military applications such as video surveillance for enemy detection uses cryocoolers. These devices use high efficiency compact pulse tube cryocoolers as cooling element for IR sensing materials to enhance the picture clarity and colour discrimination. The growing demand or night vision cameras in typical commercial applications owing to theft and other anti-social activities is propelling the cryocoolers market.

Cryocooler Market Challenges


Low Efficiency in Closed Cycle Mode and High Internal Losses

The internal losses associated with most of the regenerative and recuperative cryocoolers pose a very significant effect on the overall efficiency of the system and this is the major factor hindering the growth of cryocoolers market. The irreversible gas compression mechanism in cryocoolers results in regenerator inefficiency of the system. Other internal losses such as pressure drop loss and clearance seal loss also impact the performance of the system negatively. The losses experienced by Pulse tube type cryocoolers within pulse tube itself include heat transfer between tube wall and gas, circulation of gas within the pulse tube due to oscillating pressures and mixing of warm and cold gas segments.

Cryocooler Market Landscape


Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Cryocooler market. Cryocooler top 10 companies include Sumitomo, Chart Industries, Sunpower, Air Liquide, Janis Research, Ricor, Cryomech and Brooks Automation.

Acquisitions/Product Launches

  • In September 2020, Air Liquide S.A. acquired Cryoconcept which enabled Air Liquide to strengthen its expertise in the field of extreme, or close to absolute zero, cryogenics.
  • In July 2019, Atlas Copco acquired Brooks Semiconductor Cryogenics through which it will develop a worldwide sales and service network of cryo pumps operations.

Table of Contents

1. Cryocooler Market – Overview2. Executive Summary
3. Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.3. Product Benchmarking
3.4. End User Profiling
3.5. Top 5 Financials Analysis
4. Cryocooler Market– Forces
4.1. Drivers
4.1.1. Rapidly growing demand for cryocoolers in defense and military sector
4.1.2. Demand for night vision cameras owing to growing anti-social activities
4.1.3. Rising need for cryocoolers for cooling of superconducting electronics, magnets and power systems
4.2. Restraints
4.2.1. Technical problems with traditional cryocoolers
4.2.2. Low efficiency in closed cycle mood and high internal losses
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Degree of Competition
5. Cryocooler Market– Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.3.1. Rise of proton therapy as an alternative cancer treatment technique
5.3.2. Cryocoolers in space applications
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Cryocooler Market-By Hardware and Services
6.1. Hardware
6.1.1. Compressor
6.1.2. Cold Heads
6.1.3. Heat Dissipation Pipes
6.1.4. Power Conditioning Units
6.1.5. Others
6.2. Services
6.2.1. Technical support
6.2.2. Customer Training
6.2.3. Repairs & Refurbishment
6.2.4. Maintenance
7. Cryocooler Market - By Temperature Ranges
7.1. Introduction
7.2. 100K-300K
7.3. 50K-100K
7.4. 5K-10K
7.5. 1K-5K
7.6. Software
8. Cryocooler Market - By Regenerative Cryocooler
8.1. Introduction
8.2. Stirling
8.3. Gifford-McMahon
8.4. Pulse Tube
8.5. Others
9. Cryocooler Market - By Non-Regenerative Cryocooler
9.1. Introduction
9.2. Joule-Thomson
9.3. Brayton
9.4. Claude
9.5. Others
10. Cryocooler Market- By Application
10.1. Superconducting Magnetic Energy Storage (SMES)
10.2. Cryopumps
10.3. Superconducting Quantum Interference Devices (SQUID)
10.4. Magnetic Resonance Imaging (MRI)
10.5. Zero-Boil Off (ZBO) Storage Tanks
10.6. Spectrometers
10.7. Magnetic Levitation (Maglev) Devices
10.8. Infrared Detector
10.9. Particle Accelerators
10.10. Electron Paramagnetic Resonance (EPR)
10.11. Magnetic Separators
10.12. Transformers
10.13. Fault Current Limiter (FCL)
10.14. Electric Motors & Generators
10.15. Zero-Boil Off (ZBO) Storage Tanks
10.16. Nuclear Magnetic Resonance (NMR)
10.17. Others
11. Cryocooler Market - By End-Use Vertical
11.1. Military and Defense
11.1.1. Missile Guidance
11.1.2. Satellite based Surveillance
11.2. Space
11.2.1. Space Astronomy
11.2.2. Planetary Science
11.3. Medical
11.3.1. MRI System
11.3.2. Storage
11.3.3. Cryosurgery
11.4. Transportation
11.4.1. Magev Trains
11.4.2. Fleet Vehicles
11.5. Power and Energy
11.5.1. Thermal Measurement
11.5.2. Energy Storage
11.6. Manufacturing, Mining & Metal
11.6.1. Tempering
11.6.2. Shrink Fitting
11.7. Environmental
11.7.1. Ozone holes & Green House Effect
11.7.2. Pollution Monitoring
11.8. Agriculture
11.8.1. Biological Cell & Specimen
11.9. Education and Research
11.9.1. Nuclear Magnetic Resonance
11.9.2. Electron Paramagnetic Resonance
11.10. Others
12. Cryocooler Market, By Geography
12.1. Americas
12.1.1. U.S.
12.1.2. Canada
12.1.3. Brazil
12.1.4. Rest of Americas
12.2. Europe
12.2.1. Germany
12.2.2. Italy
12.2.3. U.K
12.2.4. France
12.2.5. Rest of Europe
12.3. Asia Pacific
12.3.1. China
12.3.2. India
12.3.3. Japan
12.3.4. South Korea
12.3.5. Rest of Asia-Pacific
12.4. Rest of the World (RoW)
12.4.1. Middle East
12.4.2. Africa
13. Cryocooler – Market Entropy
13.1. New Product Launches
13.2. M&A, Collaborations, JVs and partnerships
14. Company Profiles
15. Appendix
15.1. Abbreviations
15.2. Sources
15.3. Research Methodology
15.4. Bibliography
15.5. Compilation of Expert Insights
15.6. Disclaimer

Methodology

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