The global cryocooler market is anticipated to grow at a considerable CAGR of 6.9% during the forecast period (2022-2028). The rapid shortage of helium gas across the developing economies particularly in North America will be going to propel the growth of the market. For instance, according to the US Geological Survey, in 2020, helium exports from the United States amounted to 100 million cubic meters, an increase of 19.04% compared to 2018. Fact that cryogenic fluids such as liquid helium, liquid nitrogen, or very cold nitrogen and helium gas are utilized by cryocooling, the market is estimated to get boosted by such factors.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in December 2020, Clean Power Hydrogen (CPH2) partnered with AFCryo, one of the prominent cryogenic systems manufacturers for gas separation and hydrogen liquefaction is a multi-national tie-up where the combined technology will offer the market a cheaper and more reliable way of generating green hydrogen from renewable sources. CPH2 and AFCryo will work collaboratively to enhance the technology from an engineering perspective, carry out specific analyses, and work together to develop the markets throughout Europe. Additionally, AFCryo will design CPH2larger cryogenics systems which will form the ‘back-end’ of our electrolyzer technology for scales above 1MW, and there will also be some cross-licensing of technologies.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Type
- Operating Cycle
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Sumitomo Heavy Industries Limited, Northrop Grumman Corporation, Superconductor Technologies Inc, Sunpower Inc.
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Global Cryocooler Market Report Segment
By Type
- Gifford-Mcmahon
- Pulse-Tube
- Stirling
- Brayton
By Operating Cycle
- Open-loop cycle
- Closed-loop cycle
By Application
- Healthcare
- Commercial
- Transportation
- Military
- Space
Global Cryocooler Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Advanced Research Systems Inc.
- AMETEK Inc.
- Brooks Automation, Inc.
- Chart Industries Inc.
- Cobham PLC
- Cryomech Inc.
- D&H Industries
- Janis Research Company LLC
- Northrop Grumman Corporation
- RICOR
- Stirling Cryogenics BV
- Sumitomo Heavy Industries Limited
- Sunpower Corp
- Superconductor Technologies Inc.
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