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Cryocoolers - Global Market Trajectory & Analytics

  • ID: 4804608
  • Report
  • April 2021
  • Region: Global
  • 293 pages
  • Global Industry Analysts, Inc
Global Cryocoolers Market to Reach $3.5 Billion by 2027

Amid the COVID-19 crisis, the global market for Cryocoolers estimated at US$2.4 Billion in the year 2020, is projected to reach a revised size of US$3.5 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. Gifford-McMahon cryocoolers, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach US$695.3 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pulse-Tube cryocoolers segment is readjusted to a revised 4.9% CAGR for the next 7-year period.



The U.S. Market is Estimated at $641.4 Million, While China is Forecast to Grow at 9% CAGR

The Cryocoolers market in the U.S. is estimated at US$641.4 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$747.9 Million by the year 2027 trailing a CAGR of 9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Stirling cryocoolers Segment to Record 6.5% CAGR

In the global Stirling cryocoolers segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$571.8 Million in the year 2020 will reach a projected size of US$855.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$474.2 Million by the year 2027, while Latin America will expand at a 7.8% CAGR through the analysis period.

Select Competitors (Total 41 Featured):
  • Advanced Research Systems, Inc.
  • AIM Infrarot-Module GmbH
  • Air Liquide SA
  • Brooks Automation, Inc.
  • Chart Industries, Inc.
  • Creare LLC
  • Cryomech, Inc.
  • Fabrum Solutions Ltd.
  • Janis Research Company, LLC.
  • L3 Cincinnati Electronics
  • Le-tehnika, d.o.o.
  • Lihan Technologies Co., Ltd.
  • Northrop Grumman Corporation
  • Oxford Cryosystems
  • Ricor - Cryogenic & Vacuum Systems
  • Sierra Lobo, Inc.
  • Stratox Limited
  • Sumitomo Heavy Industries Ltd.
  • Sunpower Inc.
  • Superconductor Technologies, Inc.
  • Thales Cryogenics B.V.
  • Tristan Technologies, Inc.
  • Vacree Technologies Co., Ltd.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • A Prelude into Cryocoolers
  • Cryocooler Market to Witness Steady Growth
  • Stirling Cryocoolers to Register Highest Growth
  • Military Application Segment Accounted for Largest Share
  • Impact of Covid-19 and a Looming Global Recession
  • A Prelude into leading Players
  • Exhibit 1: Global Cryocooler Market by Leading Player: Market Share Breakdown of Sales for 2018
  • Select Noteworthy Acquisition
  • Shortage for Helium Gas to Drive Market Growth
  • Exhibit 2: Total Amount of Helium Produced (in Million Cubic Feet): 2016-2019
  • Growing Healthcare Services in Emerging Economies to Support Growth
  • Exhibit 3: Worldwide Health Care Spending (in Billion USD): 2017-2022
  • Growing Demand for Liquefied Natural Gas to Spur Crycoolers Market
  • Exhibit 4: Worldwide Growth of LNG Demand: 2018-2030
  • Exhibit 5: Demand for LNG by Country: 2015-2030
  • Innovations to Bolster Market Growth
  • Widening of Application Base to Bolster Market Growth
  • Cryocoolers in Semiconductor Industry
  • Cryogenic Refrigerators for Space Applications
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 41
Note: Product cover images may vary from those shown
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