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Cryocooler Market Insights 2024, Analysis and Forecast to 2029, by Manufacturers, Regions, Technology, Application

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    Report

  • 81 Pages
  • November 2024
  • Region: Global
  • Prof Research
  • ID: 5698582
The cryocooler market is a critical segment within the field of refrigeration and cooling systems, designed to achieve very low temperatures for a variety of applications, including healthcare, aerospace, and military. Cryocoolers are essential in applications such as magnetic resonance imaging (MRI) machines, infrared detectors, and space exploration equipment. The growing demand for precise temperature control in these applications, coupled with advancements in cryogenic technology, is driving the growth of the global cryocooler market.

Market Size

In 2023, the global cryocooler market is estimated to be valued at approximately USD 2.8 billion. Over the forecast period from 2024 to 2029, the market is projected to experience a compound annual growth rate (CAGR) of 4.8% to 5.8%, reflecting steady growth driven by technological advancements and an increasing need for reliable cooling solutions in various sectors. The healthcare, aerospace, and military applications will be the primary drivers of this growth.

Market Share & Trends Analysis

By Application

The cryocooler market can be segmented by key applications:
  • Healthcare: Cryocoolers are widely used in healthcare applications, particularly in MRI systems and other medical imaging equipment, where cooling is essential to maintain performance and extend the lifespan of equipment. This segment is expected to hold a significant share of the market.
  • Power & Energy: Cryocoolers play a critical role in energy production, particularly in applications such as cooling superconducting magnets used in power transmission and storage. The demand in this segment is expected to grow moderately over the next few years.
  • Research & Development: Cryocoolers are extensively used in R&D environments for experiments involving low temperatures. They are crucial in fields such as quantum computing and material science. This sector will experience steady demand, driven by innovations in various scientific fields.
  • Military & Defense: Cryocoolers are used in military and defense applications, particularly in infrared sensors and cooling systems for weapons systems. As global defense spending increases, the demand for cryocoolers in this sector is projected to grow at a stable rate.
  • Aerospace: In the aerospace industry, cryocoolers are crucial for cooling avionics and sensors in satellites, space probes, and other equipment. With advancements in space exploration, this sector is expected to see a significant increase in demand for cryogenic cooling systems.
  • Others: Other applications include cooling for industrial equipment, telecommunications, and scientific equipment. While this segment is smaller compared to others, it is still expected to contribute to the overall market growth.

By Product Type

The cryocooler market is primarily segmented by the type of cooler:
  • Gifford-McMahon (GM) Cryocoolers: These are widely used in applications that require medium to low temperature cooling, such as infrared sensors and military systems. They are expected to continue to hold a significant market share.
  • Stirling Cryocoolers: Known for their efficiency and reliability, Stirling cryocoolers are increasingly used in space and aerospace applications. This segment is expected to see notable growth due to advancements in cooling technology.
  • Pulse Tube Cryocoolers: Offering greater reliability and lower vibration, pulse tube cryocoolers are used in specialized applications such as cryogenic research and quantum computing. This technology is expected to see growing adoption in R&D environments.
  • Other Cryocoolers: Other types of cryocoolers include Vuilleumier cryocoolers and Brayton cycle coolers. These niche technologies will contribute to the overall market but remain a smaller share of the overall market.

By Key Players

Key players in the cryocooler market include:
  • Sumitomo Heavy Industries: A leading player in the cryocooler market, known for its high-performance cryocoolers used in aerospace, healthcare, and defense applications.
  • AMETEK: A significant supplier of cryocoolers, particularly in the aerospace and military sectors, offering advanced cooling solutions with high reliability and efficiency.
  • ULVAC: Known for its expertise in vacuum technology and cryogenics, ULVAC produces cryocoolers widely used in research and development applications, including in quantum computing and material science.

By Region

The cryocooler market is segmented by geographic region:
  • North America: Expected to hold the largest market share, accounting for around 35% of the market by 2029. The region benefits from strong demand in aerospace, military, and healthcare sectors, along with significant R&D investments in quantum computing and superconductivity.
  • Asia-Pacific: Projected to experience the highest growth rate, with a market share increasing to around 30% by 2029. Countries like China, Japan, and South Korea are major contributors to the cryocooler market, driven by advancements in space technology and defense applications.
  • Europe: Expected to hold a steady share of the market, with a projected market share of about 20% by 2029. The region's demand is driven by the aerospace and research sectors, especially in the fields of low-temperature physics and cryogenic technologies.
  • Rest of the World: This region, including Latin America and the Middle East, is expected to contribute approximately 15% to the market by 2029, driven by increasing investments in energy, defense, and healthcare technologies.

Market News on Policy and Companies

The cryocooler market is witnessing significant technological advancements, particularly in the areas of energy efficiency and miniaturization. Companies like AMETEK and Sumitomo Heavy Industries are focused on developing compact, energy-efficient cryocoolers for space and defense applications. Additionally, governments worldwide are increasing investments in space exploration, which is driving demand for advanced cryocooler technologies in the aerospace sector. As space agencies like NASA and ESA continue to expand their missions, cryocooler technology will be a crucial component of future space exploration equipment.

Segment Forecasts (2024-2029)

Growth in Key Segments

  • Healthcare: Expected to grow at a CAGR of 5.2%, driven by the increasing use of cryocoolers in medical imaging and diagnostics equipment.
  • Aerospace: Projected to grow at a CAGR of 5.5% as space exploration and satellite deployment continue to advance.
  • Military & Defense: Expected to see steady growth at a CAGR of 4.9% as military applications, including infrared sensors and missile defense systems, require more efficient cooling solutions.

Regional Insights

North America is expected to maintain a dominant position in the cryocooler market, benefiting from strong demand in aerospace and military sectors, while Asia-Pacific will experience the highest growth due to increasing investments in space exploration and defense technologies. Europe will continue to grow steadily, driven by demand in R&D and space-related applications, while the Rest of the World will see moderate growth driven by regional investments in energy, defense, and healthcare.


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Table of Contents

Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
5.6 COVID-19 Impact
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Cryocooler Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Cryocooler by Region
8.2 Import of Cryocooler by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Cryocooler Market in North America (2019-2029)
9.1 Cryocooler Market Size
9.2 Cryocooler Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 United States
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Cryocooler Market in South America (2019-2029)
10.1 Cryocooler Market Size
10.2 Cryocooler Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Cryocooler Market in Asia & Pacific (2019-2029)
11.1 Cryocooler Market Size
11.2 Cryocooler Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 Southeast Asia
11.5.6 Australia
Chapter 12 Historical and Forecast Cryocooler Market in Europe (2019-2029)
12.1 Cryocooler Market Size
12.2 Cryocooler Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 United Kingdom
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Cryocooler Market in MEA (2019-2029)
13.1 Cryocooler Market Size
13.2 Cryocooler Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 Gulf Cooperation Council Countries
13.5.5 Turkey
Chapter 14 Summary For Global Cryocooler Market (2019-2024)
14.1 Cryocooler Market Size
14.2 Cryocooler Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Cryocooler Market Forecast (2024-2029)
15.1 Cryocooler Market Size Forecast
15.2 Cryocooler Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
16.1 Sumitomo Heavy Industries
16.1.1 Company Profile
16.1.2 Main Business and Cryocooler Information
16.1.3 SWOT Analysis of Sumitomo Heavy Industries
16.1.4 Sumitomo Heavy Industries Cryocooler Sales, Revenue, Price and Gross Margin (2019-2024)
16.2 AMETEK
16.2.1 Company Profile
16.2.2 Main Business and Cryocooler Information
16.2.3 SWOT Analysis of AMETEK
16.2.4 AMETEK Cryocooler Sales, Revenue, Price and Gross Margin (2019-2024)
16.3 ULVAC
16.3.1 Company Profile
16.3.2 Main Business and Cryocooler Information
16.3.3 SWOT Analysis of ULVAC
16.3.4 ULVAC Cryocooler Sales, Revenue, Price and Gross Margin (2019-2024)
List of Tables and Figures
Table Abbreviation and Acronyms List
Table Research Scope of Cryocooler Report
Table Data Sources of Cryocooler Report
Table Major Assumptions of Cryocooler Report
Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Cryocooler Picture
Table Cryocooler Classification
Table Cryocooler Applications List
Table Drivers of Cryocooler Market
Table Restraints of Cryocooler Market
Table Opportunities of Cryocooler Market
Table Threats of Cryocooler Market
Table COVID-19 Impact For Cryocooler Market
Table Raw Materials Suppliers List
Table Different Production Methods of Cryocooler
Table Cost Structure Analysis of Cryocooler
Table Key End Users List
Table Latest News of Cryocooler Market
Table Merger and Acquisition List
Table Planned/Future Project of Cryocooler Market
Table Policy of Cryocooler Market
Table 2019-2029 Regional Export of Cryocooler
Table 2019-2029 Regional Import of Cryocooler
Table 2019-2029 Regional Trade Balance
Figure 2019-2029 Regional Trade Balance
Table 2019-2029 North America Cryocooler Market Size and Market Volume List
Figure 2019-2029 North America Cryocooler Market Size and CAGR
Figure 2019-2029 North America Cryocooler Market Volume and CAGR
Table 2019-2029 North America Cryocooler Demand List by Application
Table 2019-2024 North America Cryocooler Key Players Sales List
Table 2019-2024 North America Cryocooler Key Players Market Share List
Table 2019-2029 North America Cryocooler Demand List by Type
Table 2019-2024 North America Cryocooler Price List by Type
Table 2019-2029 United States Cryocooler Market Size and Market Volume List
Table 2019-2029 United States Cryocooler Import & Export List
Table 2019-2029 Canada Cryocooler Market Size and Market Volume List
Table 2019-2029 Canada Cryocooler Import & Export List
Table 2019-2029 Mexico Cryocooler Market Size and Market Volume List
Table 2019-2029 Mexico Cryocooler Import & Export List
Table 2019-2029 South America Cryocooler Market Size and Market Volume List
Figure 2019-2029 South America Cryocooler Market Size and CAGR
Figure 2019-2029 South America Cryocooler Market Volume and CAGR
Table 2019-2029 South America Cryocooler Demand List by Application
Table 2019-2024 South America Cryocooler Key Players Sales List
Table 2019-2024 South America Cryocooler Key Players Market Share List
Table 2019-2029 South America Cryocooler Demand List by Type
Table 2019-2024 South America Cryocooler Price List by Type
Table 2019-2029 Brazil Cryocooler Market Size and Market Volume List
Table 2019-2029 Brazil Cryocooler Import & Export List
Table 2019-2029 Argentina Cryocooler Market Size and Market Volume List
Table 2019-2029 Argentina Cryocooler Import & Export List
Table 2019-2029 Chile Cryocooler Market Size and Market Volume List
Table 2019-2029 Chile Cryocooler Import & Export List
Table 2019-2029 Peru Cryocooler Market Size and Market Volume List
Table 2019-2029 Peru Cryocooler Import & Export List
Table 2019-2029 Asia & Pacific Cryocooler Market Size and Market Volume List
Figure 2019-2029 Asia & Pacific Cryocooler Market Size and CAGR
Figure 2019-2029 Asia & Pacific Cryocooler Market Volume and CAGR
Table 2019-2029 Asia & Pacific Cryocooler Demand List by Application
Table 2019-2024 Asia & Pacific Cryocooler Key Players Sales List
Table 2019-2024 Asia & Pacific Cryocooler Key Players Market Share List
Table 2019-2029 Asia & Pacific Cryocooler Demand List by Type
Table 2019-2024 Asia & Pacific Cryocooler Price List by Type
Table 2019-2029 China Cryocooler Market Size and Market Volume List
Table 2019-2029 China Cryocooler Import & Export List
Table 2019-2029 India Cryocooler Market Size and Market Volume List
Table 2019-2029 India Cryocooler Import & Export List
Table 2019-2029 Japan Cryocooler Market Size and Market Volume List
Table 2019-2029 Japan Cryocooler Import & Export List
Table 2019-2029 South Korea Cryocooler Market Size and Market Volume List
Table 2019-2029 South Korea Cryocooler Import & Export List
Table 2019-2029 Southeast Asia Cryocooler Market Size List
Table 2019-2029 Southeast Asia Cryocooler Market Volume List
Table 2019-2029 Southeast Asia Cryocooler Import List
Table 2019-2029 Southeast Asia Cryocooler Export List
Table 2019-2029 Australia Cryocooler Market Size and Market Volume List
Table 2019-2029 Australia Cryocooler Import & Export List
Table 2019-2029 Europe Cryocooler Market Size and Market Volume List
Figure 2019-2029 Europe Cryocooler Market Size and CAGR
Figure 2019-2029 Europe Cryocooler Market Volume and CAGR
Table 2019-2029 Europe Cryocooler Demand List by Application
Table 2019-2024 Europe Cryocooler Key Players Sales List
Table 2019-2024 Europe Cryocooler Key Players Market Share List
Table 2019-2029 Europe Cryocooler Demand List by Type
Table 2019-2024 Europe Cryocooler Price List by Type
Table 2019-2029 Germany Cryocooler Market Size and Market Volume List
Table 2019-2029 Germany Cryocooler Import & Export List
Table 2019-2029 France Cryocooler Market Size and Market Volume List
Table 2019-2029 France Cryocooler Import & Export List
Table 2019-2029 United Kingdom Cryocooler Market Size and Market Volume List
Table 2019-2029 United Kingdom Cryocooler Import & Export List
Table 2019-2029 Italy Cryocooler Market Size and Market Volume List
Table 2019-2029 Italy Cryocooler Import & Export List
Table 2019-2029 Spain Cryocooler Market Size and Market Volume List
Table 2019-2029 Spain Cryocooler Import & Export List
Table 2019-2029 Belgium Cryocooler Market Size and Market Volume List
Table 2019-2029 Belgium Cryocooler Import & Export List
Table 2019-2029 Netherlands Cryocooler Market Size and Market Volume List
Table 2019-2029 Netherlands Cryocooler Import & Export List
Table 2019-2029 Austria Cryocooler Market Size and Market Volume List
Table 2019-2029 Austria Cryocooler Import & Export List
Table 2019-2029 Poland Cryocooler Market Size and Market Volume List
Table 2019-2029 Poland Cryocooler Import & Export List
Table 2019-2029 Russia Cryocooler Market Size and Market Volume List
Table 2019-2029 Russia Cryocooler Import & Export List
Table 2019-2029 MEA Cryocooler Market Size and Market Volume List
Figure 2019-2029 MEA Cryocooler Market Size and CAGR
Figure 2019-2029 MEA Cryocooler Market Volume and CAGR
Table 2019-2029 MEA Cryocooler Demand List by Application
Table 2019-2024 MEA Cryocooler Key Players Sales List
Table 2019-2024 MEA Cryocooler Key Players Market Share List
Table 2019-2029 MEA Cryocooler Demand List by Type
Table 2019-2024 MEA Cryocooler Price List by Type
Table 2019-2029 Egypt Cryocooler Market Size and Market Volume List
Table 2019-2029 Egypt Cryocooler Import & Export List
Table 2019-2029 Israel Cryocooler Market Size and Market Volume List
Table 2019-2029 Israel Cryocooler Import & Export List
Table 2019-2029 South Africa Cryocooler Market Size and Market Volume List
Table 2019-2029 South Africa Cryocooler Import & Export List
Table 2019-2029 Gulf Cooperation Council Countries Cryocooler Market Size and Market Volume List
Table 2019-2029 Gulf Cooperation Council Countries Cryocooler Import & Export List
Table 2019-2029 Turkey Cryocooler Market Size and Market Volume List
Table 2019-2029 Turkey Cryocooler Import & Export List
Table 2019-2024 Global Cryocooler Market Size List by Region
Table 2019-2024 Global Cryocooler Market Size Share List by Region
Table 2019-2024 Global Cryocooler Market Volume List by Region
Table 2019-2024 Global Cryocooler Market Volume Share List by Region
Table 2019-2024 Global Cryocooler Demand List by Application
Table 2019-2024 Global Cryocooler Demand Market Share List by Application
Table 2019-2024 Global Cryocooler Key Vendors Sales List
Table 2019-2024 Global Cryocooler Key Vendors Sales Share List
Figure 2019-2024 Global Cryocooler Market Volume and Growth Rate
Table 2019-2024 Global Cryocooler Key Vendors Revenue List
Figure 2019-2024 Global Cryocooler Market Size and Growth Rate
Table 2019-2024 Global Cryocooler Key Vendors Revenue Share List
Table 2019-2024 Global Cryocooler Demand List by Type
Table 2019-2024 Global Cryocooler Demand Market Share List by Type
Table 2019-2024 Regional Cryocooler Price List
Table 2024-2029 Global Cryocooler Market Size List by Region
Table 2024-2029 Global Cryocooler Market Size Share List by Region
Table 2024-2029 Global Cryocooler Market Volume List by Region
Table 2024-2029 Global Cryocooler Market Volume Share List by Region
Table 2024-2029 Global Cryocooler Demand List by Application
Table 2024-2029 Global Cryocooler Demand Market Share List by Application
Table 2024-2029 Global Cryocooler Key Vendors Sales List
Table 2024-2029 Global Cryocooler Key Vendors Sales Share List
Figure 2024-2029 Global Cryocooler Market Volume and Growth Rate
Table 2024-2029 Global Cryocooler Key Vendors Revenue List
Figure 2024-2029 Global Cryocooler Market Size and Growth Rate
Table 2024-2029 Global Cryocooler Key Vendors Revenue Share List
Table 2024-2029 Global Cryocooler Demand List by Type
Table 2024-2029 Global Cryocooler Demand Market Share List by Type
Table 2024-2029 Cryocooler Regional Price List
Table Sumitomo Heavy Industries Information
Table SWOT Analysis of Sumitomo Heavy Industries
Table 2019-2024 Sumitomo Heavy Industries Cryocooler Sale Volume Price Cost Revenue
Figure 2019-2024 Sumitomo Heavy Industries Cryocooler Sale Volume and Growth Rate
Figure 2019-2024 Sumitomo Heavy Industries Cryocooler Market Share
Table AMETEK Information
Table SWOT Analysis of AMETEK
Table 2019-2024 AMETEK Cryocooler Sale Volume Price Cost Revenue
Figure 2019-2024 AMETEK Cryocooler Sale Volume and Growth Rate
Figure 2019-2024 AMETEK Cryocooler Market Share
Table ULVAC Information
Table SWOT Analysis of ULVAC
Table 2019-2024 ULVAC Cryocooler Sale Volume Price Cost Revenue
Figure 2019-2024 ULVAC Cryocooler Sale Volume and Growth Rate
Figure 2019-2024 ULVAC Cryocooler Market Share

Companies Mentioned

  • Sumitomo Heavy Industries
  • AMETEK
  • ULVAC