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Cryocooler market buoyed by rising demand for cryocooler from space & military sector propelling high growth

Cryocooler market buoyed by rising demand for cryocooler from space & military sector propelling high growth

Cryocooler is a mechanical device which is used to generate cryogenic temperature and to offer cooling environment to the materials inside it. Generally, it follows some thermodynamics techniques which are used at the time of cryocooling.

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According to the market research report “Cryocooler Market: By Temperature (100K-300K, 50K-100K); By Regenerative (Stirling, Pulse Tube); By Non-Regenerative (Joule-Thomson, Brayton, Claude); By Application (SMES, Cryopumps, SQUID, Spectrometer, IR Detectors, Maglev) - Forecast 2016-2021”, published by IndustryARC, estimates that North America will continue its dominance till the end of the forecast period.

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Basically, the average capacity of a cryocooler is 100W, while a cryoplant has 500W capacity.

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Liquid Helium and nitrogen are used as the cryogenic fluids. The cryocooler’s capability to cool its internal environment is completely depend on the type of thermodynamics property of the circulating gas.

The Cryocooler Market is gains great demand due to cryocooler is having wide range of applications across various sectors, which also include medical and transportation.

Scope & Regional Forecast of the Cryocooler Market

Increasing implementation of cryocoolers in semiconductor industries is the major growth driving factor for the Cryocooler Market. The rising demand for cryocooler from the military sector to maintain cryogenic temperatures for IR sensors which are installed in night vision based system and satellite surveillance.

Rising production of natural gas which is used for transportation is also driving the market with positive growth.

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However, high input power consumption of cryocooler is the major restraint faced by the vendors in the Cryocooler Market. But, substantial usage of cryocoolers for atmospheric studies in greenhouse effect results in the growth for the market.

Among all, stirling cryocoolers account the highest growth rate as they offer higher efficiencies compared to other cryocoolers.

North America is the largest contributor to the Cryocooler Market due to few factors like mature aerospace and defense industry and the rising installation of cryogenic technology in aircraft carriers, followed by Europe. Asia-Pacific is projected to register the fastest growth during the forecast period.

Acceptance of cryocoolers in healthcare industry for various applications, including cryosurgery and proton therapy, is driving the growth of the market.

Segmentations & Key Players Involved in the Cryocooler Market

The Cryocooler Market can be broken down into various segmentations on the basis of -

  • Temperature Ranges: 100K-300K, 50K-100K, 10K-50K, 5K-10K and 1K-5K.
  • Regenerative Cryocooler: Stirling Regenerator, Gifford-McMahon, Pulse Tube and Others.
  • Non-Regenerative Cryocooler: Joule-Thomson, Brayton and Claude.
  • Applications: Superconducting Magnetic Energy Storage, Cryopumps, SQUID, MRI, Zero-Boil Off (ZBO) Storage Tanks, Spectrometers, Magnetic Levitation (Maglev) Devices, Infrared Detectors, Particle Accelerators, Magnetic Separators, Electric Motors & Generators, Transformers, Fault Current Limiter (FCL) and Others.
  • Region: Americas, Asia-Pacific, Europe and Rest of the World.

Some of the key players involved in the Cryocooler Market are as follows:

  • Sumitomo Heavy Industries, Ltd.
  • Janis Research Company, LLC
  • Advanced Research Systems, Inc.
  • Brooks Automation, Inc.
  • Lockheed Martin Corporation

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Why is this report useful?

* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.

* Identifies growth sectors and factors driving or constraining the market.

* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.

* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.

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