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Cryocoolers - Global Market Trajectory & Analytics

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    Report

  • 382 Pages
  • April 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804608

Global Cryocoolers Market to Reach US$3.3 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Cryocoolers estimated at US$2.1 Billion in the year 2020, is projected to reach a revised size of US$3.3 Billion by 2027, growing at a CAGR of 6.5% over the analysis period 2020-2027. Gifford-McMahon Cryocoolers, one of the segments analyzed in the report, is projected to grow at a 7% CAGR to reach US$1.2 Billion 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 5.4% CAGR for the next 7-year period. This segment currently accounts for a 25.5% share of the global Cryocoolers market.



The U.S. Accounts for Over 31.4% of Global Market Size in 2020, While China is Forecast to Grow at a 7.7% CAGR for the Period of 2020-2027


The Cryocoolers market in the U.S. is estimated at US$663.3 Million in the year 2020. The country currently accounts for a 31.38% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$371.4 Million in the year 2027 trailing a CAGR of 7.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6% and 5.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR while Rest of European market (as defined in the study) will reach US$371.4 Million by the year 2027.

Stirling Cryocoolers Segment Corners a 18.2% Share in 2020


In the global Stirling Cryocoolers segment, USA, Canada, Japan, China and Europe will drive the 7.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$299.2 Million in the year 2020 will reach a projected size of US$503.7 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$534.5 Million by the year 2027, while Latin America will expand at a 6.9% CAGR through the analysis period.

Select Competitors (Total 52 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.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Cryocoolers

What is the estimated value of the Global Market for Cryocoolers?

The Global Market for Cryocoolers was estimated to be valued at $2.1 Billion in 2020.

What is the growth rate of the Global Market for Cryocoolers?

The growth rate of the Global Market for Cryocoolers is 6.7%, with an estimated value of $3.3 Billion by 2027.

What is the forecasted size of the Global Market for Cryocoolers?

The Global Market for Cryocoolers is estimated to be worth $3.3 Billion by 2027.

Who are the key companies in the Global Market for Cryocoolers?

Key companies in the Global Market for Cryocoolers include Advanced Research Systems, Inc., AIM Infrarot, Module GmbH, Air Liquide SA, Brooks Automation, Inc., Chart Industries, Inc., Creare LLC, Cryomech, Inc. and Janis Research Company, LLC..

Table of Contents

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
  • Progress on Vaccinations: Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
  • EXHIBIT 1: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
  • Escalating Oxygen Demand from Hospitals amid Pandemic Provides Relief to Cryogenic Equipment and Cryocoolers Providers
  • Competitive Scenario
  • EXHIBIT 2: Cryocoolers - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 12 Players Worldwide in 2022 (E)
  • Global Market Prospects & Outlook
  • Analysis by Type
  • EXHIBIT 3: World Cryocoolers Market by Type (2021 & 2027): Percentage Breakdown of Sales for Gifford-Mcmahon Cryocoolers, Pulse-Tube Cryocoolers, Stirling Cryocoolers, Joule Thomson Cryocoolers, Brayton Cryocoolers
  • Analysis by Application
  • EXHIBIT 4: World Cryocoolers Market by Application (2021 & 2027): Percentage Breakdown of Sales for Military, Commercial, Research & Development, Medical, Energy & Power, Other Applications
  • Regional Analysis
  • EXHIBIT 5: Global Market for Cryocoolers: Percentage Breakdown of Sales for Developed and Developing Regions (2021 & 2027)
  • EXHIBIT 6: Global Market for Cryocoolers - Geographic Regions Ranked by % CAGR (Sales) for 2020-2027: China, Asia-Pacific, USA, Europe, Japan, Canada, Latin America, Middle East, Africa
  • Cryocoolers: An Introduction
  • Activated Carbon Holds Potential to Improve Cooling Capacity
  • Miniature Cryocooler Systems Rise in Demand
  • Better Reliability of Rotary Cryocoolers- A Key Focus Area
  • Key Cryocoolers Types
  • Recent Market Activity
  • Select Global Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Cryocoolers Market to Witness Steady Growth
  • Widespread Utility of Helium in Cryogenics
  • EXHIBIT 7: Global Helium Reserves: Breakdown of Reserves (in Million Cubic Feet) for Select Countries
  • EXHIBIT 8: Global Helium Production in Million Cubic Feet by Select Countries
  • EXHIBIT 9: World Helium Market by Application (2020 & 2027): Percentage Breakdown of Sales for Cryogenics, Welding, Laboratory, Lifting Balloons, Fiber Optics, Pressurizing & Purging, Leak Detection, Breathing Mixtures, and Other Applications
  • Critical Role in Semiconductor Manufacturing
  • Widening of Application Base to Bolster Market Growth
  • Increased Demand for Cryogenic Refrigerators in Military and Space Applications
  • Cryocoolers Finding Usage in Wider Application Areas
  • Space Mission System Constraints and their Resolution
  • Cryogenic Technology for Space Infrared Detection
  • Cryogenic Technology for Future Space Infrared Detection
  • Active Refrigerators Replacing Passive Refrigerators
  • Comprehensive Refrigerations Replacing Single Refrigerations
  • The Trend for Miniaturization
  • Decreasing the Microvibration
  • Rising Adoption of Cryocoolers in the Medical Sector Contributes Positively to the Growth
  • Rising Importance of Cryogenic Tanks and Coolers for Fast Biological Sample Preservation and Rapid Vaccine Freezing
  • Growing Demand for Liquefied Natural Gas to Spur Crycoolers Market
  • EXHIBIT 10: Global Primary Energy Consumption by Source (in %) for 2018 and 2040
  • EXHIBIT 11: Global Gas Supply Breakdown by Source (in %) for 2019
  • EXHIBIT 12: Global LNG Imports Breakdown by Region (in %) for 2019
  • Innovations to Bolster Market Growth
  • Revolutionizing Digital Communications
  • Cryocooler for the JWST
  • Chase Research Cryogenics Explores Innovative Cryogenics Platform for Quantum Processor Cooling
  • Light Weight Cryocoolers Offer Benefits
  • ICEoxford Develops New DRY ICE System for Higher Productivity Research at Ultralow Temperature

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Cryocoolers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Analytics

CANADA

JAPAN

  • Cryocoolers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Analytics

CHINA

  • Cryocoolers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Analytics

EUROPE

  • Cryocoolers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analytics

FRANCE


GERMANY


ITALY


UNITED KINGDOM


SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Cryocoolers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Analytics

AUSTRALIA


INDIA


SOUTH KOREA


REST OF ASIA-PACIFIC


LATIN AMERICA


BRAZIL


MEXICO


REST OF LATIN AMERICA


MIDDLE EAST


AFRICA

IV. COMPETITION

  • Total Companies Profiled: 52

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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.