Browse 70 market data tables and 71 figures spread through 179 pages and in-depth TOC on "Cryocooler Market - Global Forecast to 2022"
Northrook, IL -- (SBWIRE) -- 03/26/2020 -- The Cryocooler market to grow from USD 2.0 billion in 2016 to USD 3.0 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.
The major factors that are expected to be driving the market are the growing medical & healthcare services in developing economies, the rapid shortage of helium gas, increased production of liquefied natural gas, and growing adoption of cryocoolers in the semiconductor industry. The objective of the report is to define, describe, and forecast the cryocooler market size based on hardware and service, type (Gifford-Mcmahon, Pulse-Tube, Stirling, Joule-Thomson, and Brayton), temperature range, heat exchanger type, application, and geography.
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Market for the compressors is expected to hold the largest share during the forecast period
The cryocooler market for compressors is expected to lead the market between 2017 and 2022. Compressor is one of the major components of cryocoolers. The primary function of the compressor is to circulate the refrigerant in the system under pressure; this concentrates the heat it contains. At the compressor, the low pressure gas is changed to high pressure gas. In a cryocooler system, the helium is circulated through the compressor where it is compressed, and the heat of compression is removed. In addition, there are two types of compressors—water cooled and air cooled.
Gifford-McMohan (GM) and PT cryocoolers come with associated compressors that continually operate to keep the systems at the base temperature. Currently, there is a need for small cryocooler compressors with a high power density. By increasing the operating frequency of the compressor, high power density can be achieved.
Gifford-McMahon (GM) cryocoolers market expected to hold the largest share from 2017 to 2022
One of the major reasons for the higher cryocooler market of Gifford-McMahon (GM) cryocoolers is the wide usage of these cryocoolers to cool down the IR sensors used in MRI systems, missile guidance in military, and cryopumps in semiconductor fabrication applications. These cryocoolers are one of the most popular types of cryocoolers used in various applications due to their simple structure and high reliability. In the 1980s, these cryocoolers were used for cooling down charcoal absorbers in cryopumps to about 15 K. The cryopumps comprise a moving displacer and are used in semiconductor fabrication equipment to produce clean vacuums. A GM cryocooler is a regenerative-type cryocooler; it has a valve mechanism to generate the pressure pulse. The relation between the pressure pulse and the expander–displacer motion is vital. The basic components of GM cryocoolers are compressors, flex lines, regenerators, displacers, and valve mechanism. A GM cryocooler can reach lower temperatures compared to a Stirling cryocooler. In case of GM cryocoolers, the maintenance interval is approximately from one to two years; making them one of the majorly abopted cryocooler.
Military application in the cryocooler market is expected to hold the largest share from 2017 to 2022
The major factors contributing to the growth of this cryocooler market include the rising adoption of cryocoolers in cooling infrared sensors used in military applications. The cryocoolers are used to cool down the infrared sensors to approximately 80 Kelvin. In addition, the growing demand for night vision surveillance and missile detection from satellites over the last few years has led to the increasing usage of cryocoolers. Moreover, cryocoolers are used in high-end systems and detectors such as missile warning systems, UAVs, miniature payloads, thermal weapon sights, and airborne enhanced vision systems (EVS).
Americas expected to account for the largest market share from 2017 to 2022
The cryocooler market in the Americas held the largest share of the global market in 2016, followed by the markets in Europe and APAC. The growth of market in the Americas is mainly driven by factors such as the established military industry and the growing importance of the use of cryocoolers in medical cryosurgery and proton therapy. Also, the rising installation of the cryogenic technology in aircraft carriers is driving the growth of the market in the Americas. North America holds the major share of the cryocooler market in the Americas.
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Key Market Players
Sumitomo Heavy Industries Ltd. (Japan), Chart Industries, Inc. (US), Brooks Automation, Inc. (US), Sunpower, Inc. (US), Cryomech, Inc. (US), Northrop Grumman Corporation (US), Advanced Research Systems, Inc. (US), DH Industries BV (The Netherlands), Janis Research Company, LLC (US), RICOR – Cryogenic & Vacuum Systems (Israel), Superconductor Technologies, Inc. (US), Air Liquide S.A. (France), Thales Cryogenics (France), Fabrum Solutions Limited (New Zealand), Oxford Cryosystems (UK), Creare LLC (US), L-3 Cincinnati Electronics (US), Stratox (UK), Lihan Technology Co. Ltd. (China), and Tristan Technologies (US).
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