Cryocooler Market Share, Size, Trends, Industry Analysis Report, By Type (Gifford McMahon, Pulse-Tube, Stirling, Brayton, Joule-Thomson); By Heat Exchanger; By Application; By Operating Cycle; By Region; Segment Forecast, 2023 - 2032

Cryocooler Market Share, Size, Trends, Industry Analysis Report, By Type (Gifford McMahon, Pulse-Tube, Stirling, Brayton, Joule-Thomson); By Heat Exchanger; By Application; By Operating Cycle; By Region; Segment Forecast, 2023 - 2032

The global cryocooler market size is expected treach USD 5.20 billion by 2032, according ta new study by Polaris Market Research. The report “Cryocooler Market Share, Size, Trends, Industry Analysis Report, By Type (Gifford Mcmahon, Pulse-Tube, Stirling, Brayton, Joule-Thomson); By Heat Exchanger Type; By Application; By Operating Cycle; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Rise in the adoption of cryocoolers in power stations, super-conducting magnets, & the semiconductor industry is driving demand of the cryocoolers. In November 2022, the CH-160D2 77K Cryocooler has been added as a new model tthe SHI Cryogenics Group's line of Gifford-McMahon (GM) Cryocoolers. The CH-160D2 is perfect for a variety of uses, including the production and liquefaction of liquid nitrogen, & high temperature super-conducting uses including cables, wind turbines, ship motors, & accelerator magnets.

Continued R&D and technical advancements of cryocoolers have boosted their use in the medical industry for a variety of applications, including proton treatment, NMR technology, and MRI. This should accelerate market expansion. In order tcool superconducting magnets used in proton therapy tthe liquid state Helium temperatures, cryocoolers must be utilised. In Jan 2023, the UK is planning tlaunch its first proton beam therapy trial for certain patients with breast cancer.

Worldwide space cryogenics market is expanding as a result of the aerospace industry's rising demand for cryogenic materials. Cryogenic fuels, have a better efficiency than conventional fuels, which improves spacecraft performance. Therefore, there is now a greater need for cryogenic systems, which is what will propel the worldwide space cryogenics market throughout the next years. In August 2022, Australian space agency launched it first mission, a space telescope named spIRIT which is fitted with a cryocooler thermal regulation system on the small satellite.

In the United States, superconducting magnets used in mobile phone stations are now cooled using cryocoolers for commercial purposes. Superconducting receivers create incredibly small filters with exceptionally steep skirt slopes using the High-Temperature Superconducting (HTS) filters. In combination with cryogenically cooled amplifiers, these receivers increase call quality.

Cryocooler Market Report Highlights

Gifford MCmahon segment is leading the global market for cryocooler owing tits low cost and unique benefits offered.

Regenerative heat exchanger segment accounted for highest revenue share in the global market because of its feature of energy regeneration and the rising need for it across sensor-driven sectors.

Healthcare segment is expected texhibit the highest market growth during the forecast period owing its widespread application in MRI systems, cryosurgery, proton treatment, and oxygen liquefaction in hospitals.

Asia Pacific region is estimated tgrow at a high CAGR during the projected period. The increasing demand for cryocoolers in healthcare and defense applications is majorly responsible for the market growth in this region.

The global players include SumitomHeavy Industries, Northrop Grumman Corporation, Superconductor Technologies., Sunpower, RICOR, Advanced Research Systems, Chart Industries, AMETEK, Cryomech, DH Industries, Janis Research Company, Brooks Automation, Cobham Missions Systems, and Wimborne Limited

Polaris Market Research has segmented the Cryocooler market report according ttype, heat exchanger, application, operating cycle and region:

Cryocooler, Type Outlook (Revenue - USD Billion, 2019 -2032)

Gifford Mcmahon

Pulse-Tube

Stirling

Brayton

Joule-Thomson

Cryocooler, Heat Exchanger Type Outlook (Revenue - USD Billion, 2019 -2032)

Regenerative Heat Exchanger

Recuperative Heat Exchange

Cryocooler, Application Outlook (Revenue - USD Billion, 2019 -2032)

Military & Defense

Power & Energy

Healthcare

Aerospace

Research & Development

Transport

Mining & Metal

Others

Cryocooler, Operating Cycle Outlook (Revenue - USD Billion, 2019 -2032)

Open-Loop Cycle

Closed-Loop Cycle

Cryocooler, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa