Global Cryo Coolers Market was valued at US$2.3 billion in 2017 and is projected to reach US$3.9 billion by 2026, at a CAGR of 6.82% during the forecast period.
A cryocooler is a mechanical device that generates a low temperature through the compression and expansion of a gas. Cryocoolers capable of producing temperatures as low as 77 K or as low as 4.2 K are used to replace cryogens. Cryocoolers are used in space, gas, medicine, superconductivity, etc.
Growing demand for medical systems is driving the growth of this market. Growing demand for cryo-refrigerators in the military and healthcare sectors has also boosted the global cryo-refrigerator market. Due to the scarcity of helium, most consumers tend to switch to cryo-refrigerators from open-cycle cryostats, which creates opportunities for the cryo-refrigerator market. A significant number of advancements in cryocoolers have already been made over the past few years, which has allowed many cryogenics applications to spruce up and find their way into the market.
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The aerospace and defense industry has driven the cryocooler market globally. The cryocoolers market is used in this industry to meet the individual demands of military and space applications. Military applications contributed the most to the global cryocoolers market. Additionally, a space applications market is expected to register the highest growth during the forecast period. The cryocoolers market offers immense growth opportunities with the increasing applications of cryocoolers in the space sector, which is likely to spearhead the global cryocoolers market in the near future.
Generally, temperatures below 100 K are considered cryogenic in the market. Cryocoolers are used in the storage of gases at extremely low temperatures. The constant progress in the field of cryorefrigerators opens up a whole new range of applications in the many industrial fields.
Regionally, in North America, the cryo-refrigerators market has witnessed significant growth owing to the increasing adoption of cryo-refrigerators for proton therapy in cancer treatment. The cryocoolers market is also used for satellite surveillance and missile guidance in the military sector. Asia-Pacific and Europe are expected to show considerable demand for the global cryo-refrigerators market.
Key players operating in the global cryocoolers market, Sunpower, Inc., Cryomech, Inc., DH Industries BV, Janis Research Company LLC, Advanced Research Systems, Inc., Sumitomo Heavy Industries Ltd., Chart Industries, Inc., Superconductor Technologies Inc., and Brooks Automation Inc.
Scope of the global Cryocooler market
Global Cryo Coolers Market, By Offer
Global Cryocoolers Market, By Heat Exchanger
Global Cryo Coolers Market, By Temperature Range
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Global Cryo Coolers Market, By Industry
Aeronautics and Defense
Semiconductor and electronics
Agriculture & Biology
Mining and metals
Global Cryo Coolers Market, By Region
Middle East and Africa
Key Players Operating in the Global Cryocooler Market
DH Industries B.V.
Janis Research Company LLC
Advanced Research Systems, Inc.
Sumitomo Heavy Industries Ltd.
Graphic Industries, Inc.
Superconducting Technologies Inc.
Brooks Automation Inc.
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