Cryocooler Market 2024-2028
The cryocooler market is forecasted to grow by USD 764.2 mn during 2023-2028, accelerating at a CAGR of 5.11% during the forecast period. The report on the cryocooler market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing adoption in cryopreservation procedures, growing demand from healthcare industry for treatments like MRI, NMR equipment, and proton therapy, and increasing use of cryocoolers in drug research and development.
Technavio's cryocooler market is segmented as below:
- By Application
- Military and defense
- Healthcare
- Aerospace
- Power and energy
- Others
- By Type
- Regenerative heat exchanger
- Recuperative heat exchanger
- By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the growing demand for cryocooler for COVID-19 vaccines as one of the prime reasons driving the cryocooler market growth during the next few years. Also, increase in focus on improving design and quality standards of cryocoolers and growing cryocooler usage for IR sensors to maintain cryogenic temperatures will lead to sizable demand in the market.
The report on the cryocooler market covers the following areas:
- Cryocooler market sizing
- Cryocooler market forecast
- Cryocooler market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cryocooler market vendors that include Advanced Research Systems Inc., AIM Infrared Module GmbH, Air Liquide SA, Azenta Inc., Bluefors Oy, Chart Industries Inc., Eaton Corp plc, Honeywell International Inc., HYSYTECH srl, L3Harris Technologies Inc., Lake Shore Cryotronics Inc., Lihan Cryogenics Co. Ltd., Lockheed Martin Corp., Northrop Grumman Corp., Ricor Systems, RIX Industries, Stirling Cryogenics India Pvt. Ltd., Sumitomo Heavy Industries Ltd., Thales Group, and TotalEnergies SE. Also, the cryocooler market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.