December 15th, 2015

Global Cryocooler Market (2020 to 2025) - Rising Need for Cryogenic Refrigeration for Space Applications Presents Opportunities

Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "Cryocooler Market with COVID-19 Impact and Analysis by Type (GM, PT, JT, Stirling, Brayton), Offering (Hardware, Services), Heat Exchanger (Recuperative, Regenerative) Operating Cycle (Open,Closed loop), Application, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The overall cryocooler market is expected to grow at a CAGR of 6% from 2020 to 2025. The market is estimated to grow from USD 2.3 billion in 2020 to USD 3.1 billion in 2025.

The cryocooler market has a promising growth potential owing to several factors such as surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in the healthcare sector, high rate of depletion of helium, growing demand for liquefied natural gas and increasing adoption of cryocoolers in the semiconductor industry, superconducting magnets, and power systems.

The cryocooler market is at a promising stage and is expected to see strong growth during the forecast period. High technology applications such as semiconductors, hard disk drives, flat panel displays, lighting, solar cells, and thermal and general vacuum coating systems typically use cryopumps or cryocoolers as a part of their critical processes. The growing adoption of cryocoolers in the semiconductor industry and superconducting magnets is expected to increase their demand in the coming years.

The market for space application is estimated to grow at the highest CAGR during the forecast period

The market for space application is expected to grow at the highest CAGR from 2020 to 2025. Growing space exploration projects in developed parts of the world are likely to increase the deployment of cryocoolers in these projects at a rapid pace. Further, the rising focus of developing countries including China and India on space missions is further expected to boost the demand for cryocoolers from the space vertical.

The market for GM type of cryocoolers is estimated to account for the largest share between 2020 and 2025

The cryocooler market for hardware is expected to flourish at a significant growth rate and estimated to hold the dominant position during the forecast period. The GM type cryocoolers are used in wide application use cases including military applications for cooling down the IR sensors used in missiles and satellite monitoring. In addition, they are used for superconductivity applications in magnetic levitation trains, MRI systems, and semiconductor fabrication units.

The market for closed-loop cycle type is estimated to grow at the highest CAGR from 2020 to 2025

The cryocooler market for the closed-loop cycle type is expected to grow at the highest CAGR during the forecast period. This is majorly due to their broader application areas, which include IR detectors/ sensors, thermal cameras, magnetic resonance imaging (MRI), surgical probes, night vision systems, superconducting devices, and commercial refrigerators. Recent technological advancements have led to the development of high-temperature infrared detectors with a cooling range between 150 and 200 K. Closed-cycle systems such as JT cryocoolers are being used in a wide range of applications in night vision systems due to the absence of mechanical parts, miniature size, and rapid cooling capacity.

Cryocooler market in the APAC region is expected to witness robust growth during 2020-2025

The market in APAC is expected to grow at the highest CAGR during the forecast period. This market growth in APAC can be attributed to the increasing adoption of various cryocoolers such as GM, PT, JT, Stirling, and Brayton for producing very low temperatures required in various applications across sectors such as medical, space, commercial, environmental, transport, and energy.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Post-COVID-19: Realistic Scenario
3.2 Post-COVID-19: Optimistic Scenario
3.3 Post-COVID-19: Pessimistic Scenario

4 Premium Insights
4.1 Attractive Opportunities for Cryocooler Market
4.2 Cryocooler Market in APAC, by Application and Country
4.3 Cryocooler Market, by Type (2020-2025)
4.4 Cryocooler Market, by Service (2020-2025)
4.5 Cryocooler Market, by Region

5 Market Overview
5.1 Introduction
5.2 Market Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 High Rate of Depletion of Helium
5.3.1.2 Surging Adoption of Cryocoolers in MRI, Nmr Equipment, and Proton Therapy in the Healthcare Sector
5.3.1.3 Growing Demand for Liquefied Natural Gas
5.3.1.4 Increasing Adoption of Cryocoolers in Semiconductor Industry, Superconducting Magnets, and Power Systems
5.3.2 Restraints
5.3.2.1 High Input Power Consumption of Cryocoolers
5.3.3 Opportunities
5.3.3.1 Rising Need for Cryogenic Refrigeration for Space Applications
5.3.3.2 Growing Demand for Cryocoolers with Enhanced Capabilities and Low Cost for Microsatellite and Military Applications
5.3.4 Challenges
5.3.4.1 Performance Constraints of Cryocoolers
5.3.4.2 Leakage of Cryogen Gases
5.3.5 Winning Imperative
5.3.5.1 Reduction in Cost of Cryocoolers
5.4 Cryocooler Market Ecosystem

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Strategic Benchmarking
6.3.1 Technology Integration and Product Enhancement
6.4 Pricing Analysis
6.5 Technology Analysis
6.5.1 Development of High-Field Strength Cryocoolers for MRI Application
6.5.2 Advancements in Thermoacoustic Liquefaction
6.5.3 Increasing Focus on Low-Vibration Cryocoolers
6.6 Patent Analysis
6.6.1 Major Patents by Sumitomo
6.6.2 Major Patents by Sunpower, Inc
6.6.3 Major Patents by Chart Industries
6.7 Case Studies
6.7.1 Chart Industry: Wtp Case Study
6.7.2 Chillzilla Case Study

7 Market, by Offering
7.1 Introduction
7.2 Hardware
7.2.1 Compressors
7.2.1.1 Surging Demand for Compact Cryocooler Compressors With High Power Density
7.2.2 Cold Heads
7.2.2.1 Rising Popularity of 4 K J-M and P-T Cryocoolers to Propel Demand for Cold Heads
7.2.3 Heat Dissipation Pipes
7.2.3.1 Heat Dissipation Pipes to Witness Relatively Higher Growth Owing to Increasing Demand from Retrofitting Installations
7.2.4 Power Conditioning Units
7.2.4.1 Power Conditioning Units are Most Vital Components in Cryocooler Systems for Optimum Function of Other Components
7.2.5 Others
7.3 Services
7.3.1 Technical Support Services
7.3.1.1 Integration Services and Product Support Services for Customers at Their Facilities to Account for Market Growth
7.3.2 Product Repairs & Refurbishment Services
7.3.2.1 Increasing Installation of Cryocoolers in Medical, Space, and Military Applications to Spur Growth of Product Repairs & Refurbishment Services
7.3.3 Preventive Maintenance Services
7.3.3.1 Preventive Maintenance Services Expected to Witness Substantial Demand Owing to Prevention of Downtime and Equipment Failure
7.3.4 Customer Training Services
7.3.4.1 Rising Interest Among Customers Toward Online Training Modules to Fuel Market Growth

8 Market, by Heat Exchanger Type
8.1 Introduction From 2020 to 2025
8.2 Recuperative Heat Exchangers
8.2.1 Recuperative Heat Exchangers to Witness Higher Adoption in Joule Thomson and Brayton Cryocoolers
8.3 Regenerative Heat Exchangers
8.3.1 Regenerative Heat Exchangers Expected to Witness Accelerated Demand for Pulse-Tube and Stirling Cryocoolers

9 Market, by Operating Cycle
9.1 Introduction
9.2 Open-Loop-Cycle Cryocoolers
9.2.1 Open-Loop-Cycle Cryocoolers are Relatively Cheaper Than Closed-Loop Cryocoolers
9.3 Closed-Loop-Cycle Cryocoolers
9.3.1 Surging Demand for Closed-Loop-Cycle Cryocoolers in MRI, Night Vision Systems, and Superconducting Devices to Propel Market Growth

10 Market, by Type
10.1 Introduction
10.2 Gifford-Mcmahon Cryocoolers
10.2.1 Gifford-Mcmahon Cryocoolers are Widely Being Used in Magnetic Resonance Imaging Equipment for Cooling Down Radiation Shields
10.3 Pulse-Tube Cryocoolers
10.3.1 Pulse-Tube Cryocoolers Offer Various Advantages Including Less Vibration, Higher Reliability, and Lower Cost Over Other Cryocoolers
10.4 Stirling Cryocoolers
10.4.1 Stirling Cryocoolers to Witness Increased Demand for Cooling Down Infrared Detectors in Military Night Vision Equipment
10.5 Joule-Thomson Cryocoolers
10.5.1 Longer Life Cycle of Joule-Thomson Cryocoolers is Major Factor for Their Higher Adoption
10.6 Brayton Cryocoolers
10.6.1 Low Vibration of Brayton Cryocoolers Makes Them Suitable for Use in Sensitive Telescopes

11 Market, by Application
11.1 Introduction
11.2 Military
11.3 Medical
11.4 Commercial
11.5 Environmental
11.6 Energy
11.7 Transport
11.8 Research and Development
11.9 Space
11.10 Agriculture & Biology
11.11 Mining and Metal
11.12 Others

12 Regional Analysis
12.1 Introduction
12.2 Americas
12.3 Europe
12.4 APAC
12.5 Row

13 Competitive Landscape
13.1 Introduction
13.2 Competitive Leadership Mapping
13.2.1 Star
13.2.2 Pervasive
13.2.3 Emerging Leaders
13.2.4 Participants
13.3 Market Share Analysis of Top 5 Players in Cryocooler Market, 2019
13.4 Market Evaluation Framework
13.5 Recent Developments

14 Company Profiles
14.1 Introduction
14.2 Key Players
14.2.1 Sumitomo Heavy Industries Limited
14.2.2 Chart Industries, Inc.
14.2.3 Sunpower, Inc. (Ametek, Inc.)
14.2.4 Cryomech, Inc.
14.2.5 Northrop Grumman Corporation
14.2.6 Advanced Research Systems, Inc.
14.2.7 Janis Research Company, LLC
14.2.8 Ricor - Cryogenic & Vacuum Systems
14.2.9 Superconductor Technologies, Inc. (Allied Integral United, Inc.)
14.2.10 Air Liquide Sa
14.3 Other Important Players
14.3.1 Oxford Cryosystems
14.3.2 Creare LLC
14.3.3 Lihan Cryogenic Technology Co. Ltd
14.3.4 Tristan Technologies, Inc.S
14.3.5 Vacree Technologies Co. Ltd.
14.3.6 Honeywell International Inc.
14.3.7 Bright Instruments
14.3.8 Acme Cryogenics
14.3.9 Thales Cryogenics Bv
14.3.10 Fabrum Solutions Limited

15 Appendix

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