Dublin, June 19, 2023 (GLOBE NEWSWIRE) -- The "Cryocoolers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Cryocoolers estimated at US$2.3 Billion in the year 2022, is projected to reach a revised size of US$4.1 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2022-2030.
Gifford-McMahon Cryocoolers, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$1.5 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Pulse-Tube Cryocoolers segment is readjusted to a revised 6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $736.9 Million, While China is Forecast to Grow at 8.5% CAGR
The Cryocoolers market in the U.S. is estimated at US$736.9 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$473.1 Million by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$676.1 Million by the year 2030.
Select Competitors (Total 52 Featured) -
- Advanced Research Systems Inc.
- Air Liquide SA
- AMETEK Inc.
- Chart Industries, Inc.
- Cryomech Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- RICOR USA Inc.
- Stirling Cryogenics BV
- Sumitomo Heavy Industries, Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2.3 Billion |
| Forecasted Market Value (USD) by 2030 | $4.1 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Key Topics Covered:
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
- 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
- Cryocoolers - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Global Market Prospects & Outlook
- Analysis by Type
- 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
- World Cryocoolers Market by Application (2021 & 2027): Percentage Breakdown of Sales for Military, Commercial, Research & Development, Medical, Energy & Power, Other Applications
- Regional Analysis
- Global Market for Cryocoolers: Percentage Breakdown of Sales for Developed and Developing Regions (2021 & 2027)
- 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
- Global Helium Reserves: Breakdown of Reserves (in Million Cubic Feet) for Select Countries
- Global Helium Production in Million Cubic Feet by Select Countries
- 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
- Global Primary Energy Consumption by Source (in %) for 2018 and 2040
- Global Gas Supply Breakdown by Source (in %) for 2019
- 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
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/rzrqx2
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