The global cryocooler market size reached US$ 3.1 Billion in 2023. Looking forward, the market is expected to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2023-2032. The expansion of efficient cooling systems, wide utilization of cryocoolers in various research fields, such as physics, chemistry, and materials science, and the emergence of cryotherapy and cryopreservation are some of the major factors propelling the market.
A cryocooler is a sophisticated device designed to achieve and maintain extremely low temperatures, often approaching absolute zero. It plays a pivotal role in various scientific, medical, and industrial applications that demand the cooling of materials and systems to temperatures well below ambient conditions. By utilizing principles of thermodynamics and advanced engineering techniques, cryocoolers can efficiently remove heat from a target area, resulting in the reduction of temperature.
Cryocoolers find extensive use in fields, such as condensed matter physics, where researchers aim to explore the unique properties of matter at ultra-low temperatures. These coolers enable the creation and study of novel states of matter, such as Bose-Einstein condensates. Additionally, they are essential in superconducting technologies, enabling the operation of superconducting magnets and quantum devices.
The expansion of efficient cooling systems required for producing superconductors, magnets, and power systems is driving the global market. Moreover, the emergence of cryotherapy and cryopreservation is augmenting the market as cryotherapy involves exposing the body to extremely cold temperatures for therapeutic purposes, while cryopreservation involves freezing and storing biological samples for future use. Both these areas have witnessed increased interest, contributing to the demand for cryocoolers. Furthermore, cryocoolers are used in industries such as semiconductor manufacturing, where cooling is essential for maintaining the performance and longevity of electronic components.
As industries continue to advance and adopt more sensitive and high-performance technologies, the demand for cryocoolers grows. Also, Cryogenic cooling is used in the food and beverage industry for processes such as freezing and preservation. Cryocoolers might find applications in maintaining specific temperature conditions for this process. Additionally, various research fields, such as physics, chemistry, and materials science, require cryogenic temperatures for experiments and studies. Cryocoolers are used to achieve and maintain these low temperatures in laboratory settings.
Cryocoolers play a crucial role in maintaining the low temperatures necessary for preserving cells, tissues, and even organs, ensuring their viability for transplantation and research purposes. As the healthcare industry continues to evolve with a focus on accurate diagnostics and innovative treatments, the demand for reliable and efficient cryocooling solutions is projected to drive the growth of the cryocooler market.
With increased interest in earth observation, communication satellites, and interplanetary missions, the demand for cryocoolers that can withstand the rigors of space environments is poised to soar. Furthermore, the miniaturization of satellites, such as CubeSats, has led to the need for compact, lightweight, and efficient cryocoolers that can cater to the thermal management requirements of these smaller spacecraft.
Quantum computing, which harnesses the principles of quantum mechanics for exponentially faster computation, relies on maintaining qubits the fundamental units of quantum information at near-absolute-zero temperatures to reduce quantum noise and errors. Cryocoolers are fundamental components in quantum computers, creating an environment conducive to the stable operation of qubits. As the pursuit of quantum supremacy continues and industries explore practical quantum computing applications, the demand for cryocoolers tailored to these cutting-edge technologies will remain robust.
The Gifford-McMahon cryocooling technology is a widely adopted and established method for achieving low temperatures, making it a cornerstone in numerous applications. They are capable of reaching temperatures as low as a few degrees Kelvin, enabling a wide range of scientific, industrial, and commercial applications. These coolers find extensive use in fields, including material science, condensed matter physics, and superconducting research, where the exploration of matter at extremely low temperatures is essential. Additionally, Gifford-McMahon cryocoolers have been instrumental in the development of cutting-edge technologies such as superconducting magnets, cryopumps, and quantum devices. Furthermore, the efficiency and effectiveness of Gifford-McMahon cryocoolers have contributed to their widespread adoption across industries.
Regenerative heat exchangers play a pivotal role in the operation of cryocoolers by facilitating the efficient transfer of heat between different components of the cooling system. This type of exchanger utilizes the concept of thermal regeneration, where heat is transferred from the hot gas to the solid matrix within the exchanger during one phase of the cycle, and then transferred back to the cold gas during another phase. This cyclic process enhances the cooling efficiency of the cryocooler. The prominence of regenerative heat exchangers is rooted in their ability to achieve high cooling capacities while maintaining compact and lightweight designs. Furthermore, their operational simplicity and robustness contribute to their widespread adoption in various fields.
Open-loop cycles constitute a key approach in achieving efficient and effective cooling. In this cycle, a gas is allowed to expand through an orifice, leading to a decrease in temperature due to the Joule-Thomson effect. Open-loop cryocoolers are widely utilized in applications requiring moderate cooling capabilities, often operating in the temperature range of several Kelvin. Their ability to achieve lower temperatures without complex mechanical components makes them suitable for applications such as cooling detectors, sensors, and sample chambers in scientific experiments.
On the other hand, closed-loop cryocoolers, often referred to as regenerative or stirling cryocoolers, employ a cyclic process of compression and expansion to achieve cooling. They are particularly well-suited for applications demanding higher cooling performance and precision, such as in medical imaging, aerospace, and cutting-edge scientific research. They are known for their versatility, capable of achieving a wide range of temperatures, from cryogenic to room temperature, making them adaptable to diverse scenarios. The closed-loop cycle's efficiency and reliability are advantageous in situations where consistent and stable cooling is imperative.
5.1K-10K temperature range holds immense significance in a multitude of scientific, industrial, and research applications. Several materials and phenomena exhibit distinct properties within this realm of temperatures, making it a focal point for researchers and engineers alike. Superconductivity, for instance, becomes prevalent in this range, enabling the creation of high-field superconducting magnets for applications, such as particle accelerators and magnetic resonance imaging (MRI) machines. Moreover, many semiconductor devices and sensors function optimally within this temperature window, enhancing their efficiency and precision. This temperature range also caters to the needs of emerging quantum technologies, where qubits and quantum bits require stable operating conditions.
On the contrary, 10.1K-50K temperature range temperature interval encompasses a diverse array of applications that benefit from controlled and precise cooling. From scientific research to industrial processes, this range caters to a multitude of needs. In materials science, the 10.1K-50K range enables the investigation of novel states of matter, providing insights into quantum behavior and phase transitions. Industries heavily reliant on cryogenic cooling, such as liquefied gas production and aerospace, often find this temperature segment indispensable for efficient operations.
Cryogenic applications have revolutionized medical diagnostics, treatments, and research, making healthcare a primary driver in the demand for cryogenic solutions. One of the most prominent applications lies in magnetic resonance imaging (MRI) systems, where cryogenic cooling is crucial for maintaining superconducting magnets at ultra-low temperatures. This ensures precise imaging and diagnostics, significantly enhancing patient care and medical insights.
Moreover, the healthcare sector relies on cryogenic technologies for biobanking and cryopreservation, enabling the storage of biological samples, tissues, and even organs at extremely low temperatures, preserving their viability for future medical advancements. In addition, cryogenic technologies play a vital role in medical research, enabling scientists to study cellular structures, protein interactions, and drug interactions at temperatures that mimic natural conditions.
North America boasts a concentration of renowned research institutions, universities, and technology companies that actively contribute to the advancement of cryogenic technologies. This fosters innovation and facilitates the creation of cutting-edge cryocooling solutions across industries. Moreover, North America's thriving aerospace and defense sectors contribute significantly to the demand for cryocoolers.
The region is home to numerous space agencies, aerospace companies, and defense contractors that require cryocooling technologies for space-based instruments, satellite systems, and defense applications such as infrared detectors and thermal imaging. Additionally, North America's strong industrial base and emphasis on technological advancements support the adoption of cryocoolers across manufacturing processes, materials testing, and semiconductor fabrication.
They are designing compact, lightweight, and more reliable cryocoolers that can be integrated into various systems, from medical equipment to space instruments. Leading players are expanding their product portfolios to address a wide range of applications across industries such as healthcare, aerospace, research, and industrial processes. This includes developing cryocoolers optimized for specific use cases, such as superconducting applications, quantum computing, and satellite technologies.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
2. What is the expected growth rate of the global cryocooler market during 2024-2032?
3. What are the key factors driving the global cryocooler market?
4. What has been the impact of COVID-19 on the global cryocooler market?
5. What is the breakup of the global cryocooler market based on the type?
6. What is the breakup of the global cryocooler market based on the heat exchanger type?
7. What is the breakup of the global cryocooler market based on the application?
8. What are the key regions in the global cryocooler market?
9. Who are the key players/companies in the global cryocooler market?
A cryocooler is a sophisticated device designed to achieve and maintain extremely low temperatures, often approaching absolute zero. It plays a pivotal role in various scientific, medical, and industrial applications that demand the cooling of materials and systems to temperatures well below ambient conditions. By utilizing principles of thermodynamics and advanced engineering techniques, cryocoolers can efficiently remove heat from a target area, resulting in the reduction of temperature.
Cryocoolers find extensive use in fields, such as condensed matter physics, where researchers aim to explore the unique properties of matter at ultra-low temperatures. These coolers enable the creation and study of novel states of matter, such as Bose-Einstein condensates. Additionally, they are essential in superconducting technologies, enabling the operation of superconducting magnets and quantum devices.
The expansion of efficient cooling systems required for producing superconductors, magnets, and power systems is driving the global market. Moreover, the emergence of cryotherapy and cryopreservation is augmenting the market as cryotherapy involves exposing the body to extremely cold temperatures for therapeutic purposes, while cryopreservation involves freezing and storing biological samples for future use. Both these areas have witnessed increased interest, contributing to the demand for cryocoolers. Furthermore, cryocoolers are used in industries such as semiconductor manufacturing, where cooling is essential for maintaining the performance and longevity of electronic components.
As industries continue to advance and adopt more sensitive and high-performance technologies, the demand for cryocoolers grows. Also, Cryogenic cooling is used in the food and beverage industry for processes such as freezing and preservation. Cryocoolers might find applications in maintaining specific temperature conditions for this process. Additionally, various research fields, such as physics, chemistry, and materials science, require cryogenic temperatures for experiments and studies. Cryocoolers are used to achieve and maintain these low temperatures in laboratory settings.
Cryocooler Market Trends/Drivers:
Growing Demand for Cryogenic Applications in the Healthcare Sector
Cryocoolers are integral components in medical equipment such as magnetic resonance imaging (MRI) machines and cryopreservation systems. In MRI machines, cryocoolers are used to maintain the superconducting magnets at ultra-low temperatures, enabling precise imaging and diagnosis. The advancement of medical research and therapies, such as regenerative medicine and personalized treatments, heavily relies on cryopreservation technologies.Cryocoolers play a crucial role in maintaining the low temperatures necessary for preserving cells, tissues, and even organs, ensuring their viability for transplantation and research purposes. As the healthcare industry continues to evolve with a focus on accurate diagnostics and innovative treatments, the demand for reliable and efficient cryocooling solutions is projected to drive the growth of the cryocooler market.
Proliferation of Space and Satellite Technologies
Satellites and space instruments often operate in extreme thermal conditions, oscillating between extreme heat and cold. Cryocoolers are employed to cool infrared sensors, detectors, and other sensitive components in space-based telescopes and observation platforms. These coolers ensure optimal performance by maintaining stable temperatures, enhancing the accuracy and clarity of data collected from space.With increased interest in earth observation, communication satellites, and interplanetary missions, the demand for cryocoolers that can withstand the rigors of space environments is poised to soar. Furthermore, the miniaturization of satellites, such as CubeSats, has led to the need for compact, lightweight, and efficient cryocoolers that can cater to the thermal management requirements of these smaller spacecraft.
Advancements in Superconducting Technologies and Quantum Computing
Superconducting materials exhibit zero electrical resistance when cooled to extremely low temperatures, enabling the creation of powerful magnets and highly sensitive sensors. Cryocoolers are crucial for maintaining the superconducting state of these materials, enabling applications, such as high-field magnets for particle accelerators, fusion research, and even more energy-efficient power transmission.Quantum computing, which harnesses the principles of quantum mechanics for exponentially faster computation, relies on maintaining qubits the fundamental units of quantum information at near-absolute-zero temperatures to reduce quantum noise and errors. Cryocoolers are fundamental components in quantum computers, creating an environment conducive to the stable operation of qubits. As the pursuit of quantum supremacy continues and industries explore practical quantum computing applications, the demand for cryocoolers tailored to these cutting-edge technologies will remain robust.
Cryocooler Industry Segmentation:
This report provides an analysis of the key trends in each segment of the global cryocooler market report, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on type, heat exchanger type, operating cycle, temperature and application.Breakup by Type:
- Pulse-Tube
- Gifford-McMahon
- Joule-Thomson
- Brayton
- Stirling
Gifford-McMahon dominate the market
The report has provided a detailed breakup and analysis of the market based on the type. This includes pulse type, Gifford-McMahon, Joule-Thomson, Brayton, and stirling. According to the report, Gifford- McMahon represented the largest segment.The Gifford-McMahon cryocooling technology is a widely adopted and established method for achieving low temperatures, making it a cornerstone in numerous applications. They are capable of reaching temperatures as low as a few degrees Kelvin, enabling a wide range of scientific, industrial, and commercial applications. These coolers find extensive use in fields, including material science, condensed matter physics, and superconducting research, where the exploration of matter at extremely low temperatures is essential. Additionally, Gifford-McMahon cryocoolers have been instrumental in the development of cutting-edge technologies such as superconducting magnets, cryopumps, and quantum devices. Furthermore, the efficiency and effectiveness of Gifford-McMahon cryocoolers have contributed to their widespread adoption across industries.
Breakup by Heat Exchanger Type:
- Recuperative Heat Exchangers
- Regenerative Heat Exchangers
Regenerative heat exchangers hold the largest share in the market
The report has provided a detailed breakup and analysis of the market based on the heat exchanger type. This includes recuperative heat exchangers and regenerative heat exchangers. According to the report, regenerative heat exchangers represented the largest segment.Regenerative heat exchangers play a pivotal role in the operation of cryocoolers by facilitating the efficient transfer of heat between different components of the cooling system. This type of exchanger utilizes the concept of thermal regeneration, where heat is transferred from the hot gas to the solid matrix within the exchanger during one phase of the cycle, and then transferred back to the cold gas during another phase. This cyclic process enhances the cooling efficiency of the cryocooler. The prominence of regenerative heat exchangers is rooted in their ability to achieve high cooling capacities while maintaining compact and lightweight designs. Furthermore, their operational simplicity and robustness contribute to their widespread adoption in various fields.
Breakup by Operating Cycle:
- Open-Loop Cycle
- Closed-Loop Cycle
Open-loop cycles constitute a key approach in achieving efficient and effective cooling. In this cycle, a gas is allowed to expand through an orifice, leading to a decrease in temperature due to the Joule-Thomson effect. Open-loop cryocoolers are widely utilized in applications requiring moderate cooling capabilities, often operating in the temperature range of several Kelvin. Their ability to achieve lower temperatures without complex mechanical components makes them suitable for applications such as cooling detectors, sensors, and sample chambers in scientific experiments.
On the other hand, closed-loop cryocoolers, often referred to as regenerative or stirling cryocoolers, employ a cyclic process of compression and expansion to achieve cooling. They are particularly well-suited for applications demanding higher cooling performance and precision, such as in medical imaging, aerospace, and cutting-edge scientific research. They are known for their versatility, capable of achieving a wide range of temperatures, from cryogenic to room temperature, making them adaptable to diverse scenarios. The closed-loop cycle's efficiency and reliability are advantageous in situations where consistent and stable cooling is imperative.
Breakup by Temperature:
- 1K-5K
- 5.1K-10K
- 10.1K-50K
- 50.1K-100K
- 100.1K-300K
5.1K-10K temperature range holds immense significance in a multitude of scientific, industrial, and research applications. Several materials and phenomena exhibit distinct properties within this realm of temperatures, making it a focal point for researchers and engineers alike. Superconductivity, for instance, becomes prevalent in this range, enabling the creation of high-field superconducting magnets for applications, such as particle accelerators and magnetic resonance imaging (MRI) machines. Moreover, many semiconductor devices and sensors function optimally within this temperature window, enhancing their efficiency and precision. This temperature range also caters to the needs of emerging quantum technologies, where qubits and quantum bits require stable operating conditions.
On the contrary, 10.1K-50K temperature range temperature interval encompasses a diverse array of applications that benefit from controlled and precise cooling. From scientific research to industrial processes, this range caters to a multitude of needs. In materials science, the 10.1K-50K range enables the investigation of novel states of matter, providing insights into quantum behavior and phase transitions. Industries heavily reliant on cryogenic cooling, such as liquefied gas production and aerospace, often find this temperature segment indispensable for efficient operations.
Breakup by Application:
- Space
- Healthcare
- Military and Defense
- Others
Healthcare holds the largest share in the market
The report has provided a detailed breakup and analysis of the market based on the application. This includes space, healthcare, military and defense and others. According to the report, healthcare represented the largest segment.Cryogenic applications have revolutionized medical diagnostics, treatments, and research, making healthcare a primary driver in the demand for cryogenic solutions. One of the most prominent applications lies in magnetic resonance imaging (MRI) systems, where cryogenic cooling is crucial for maintaining superconducting magnets at ultra-low temperatures. This ensures precise imaging and diagnostics, significantly enhancing patient care and medical insights.
Moreover, the healthcare sector relies on cryogenic technologies for biobanking and cryopreservation, enabling the storage of biological samples, tissues, and even organs at extremely low temperatures, preserving their viability for future medical advancements. In addition, cryogenic technologies play a vital role in medical research, enabling scientists to study cellular structures, protein interactions, and drug interactions at temperatures that mimic natural conditions.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America exhibits a clear dominance, accounting for the largest cryocooler market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.North America boasts a concentration of renowned research institutions, universities, and technology companies that actively contribute to the advancement of cryogenic technologies. This fosters innovation and facilitates the creation of cutting-edge cryocooling solutions across industries. Moreover, North America's thriving aerospace and defense sectors contribute significantly to the demand for cryocoolers.
The region is home to numerous space agencies, aerospace companies, and defense contractors that require cryocooling technologies for space-based instruments, satellite systems, and defense applications such as infrared detectors and thermal imaging. Additionally, North America's strong industrial base and emphasis on technological advancements support the adoption of cryocoolers across manufacturing processes, materials testing, and semiconductor fabrication.
Competitive Landscape:
Cryocooler manufacturers are investing significantly in research and development to enhance the efficiency, reliability, and performance of their products. They are exploring new materials, designs, and manufacturing techniques to develop innovative cryocooling solutions that can achieve lower temperatures, higher cooling capacities, and improved energy efficiency. Moreover, companies are continuously innovating and introducing new cryocooler models and configurations to cater to specific customer needs and emerging applications.They are designing compact, lightweight, and more reliable cryocoolers that can be integrated into various systems, from medical equipment to space instruments. Leading players are expanding their product portfolios to address a wide range of applications across industries such as healthcare, aerospace, research, and industrial processes. This includes developing cryocoolers optimized for specific use cases, such as superconducting applications, quantum computing, and satellite technologies.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Advanced Research Systems Inc.
- Air Liquide S.A.
- AMETEK Inc.
- Brooks Automation Inc.
- Chart Industries Inc.
- Cryomech Inc.
- Honeywell International Inc.
- Lake Shore Cryotronics Inc.
- Northrop Grumman Corporation
- RICOR Cryogenic & Vacuum Systems
- Sumitomo Heavy Industries Ltd.
- Superconductor Technologies Inc.
- Thales Group.
Recent Developments:
- In November 2022, Sumitomo Heavy Industries Ltd, releases Highest Capacity 77K Cryocooler, the new model increases overall efficiency and cooling performance by 300%.
- In March 2022, Cryomech Inc. introduces new Pt310 Pulse Tube Cryocooler. It delivers its optimum heat lift performance at 3 Kelvin (K) which enables dry dilution refrigerators to achieve temperatures down to millikelvin levels.
- In December 2021, Thales group has assigned a contract with Airbus Defence and Space for the delivery of two cryocoolers dedicated to the TRISHNA (Thermal infraRed Imaging Satellite for High-resolution Natural resource Assessment) satellite. TRISHNA will use ground-breaking technology in regard to resolution and refresh rate.
Key Questions Answered in This Report
1. What was the size of the global cryocooler market in 2023?2. What is the expected growth rate of the global cryocooler market during 2024-2032?
3. What are the key factors driving the global cryocooler market?
4. What has been the impact of COVID-19 on the global cryocooler market?
5. What is the breakup of the global cryocooler market based on the type?
6. What is the breakup of the global cryocooler market based on the heat exchanger type?
7. What is the breakup of the global cryocooler market based on the application?
8. What are the key regions in the global cryocooler market?
9. Who are the key players/companies in the global cryocooler market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Cryocooler Market
6 Market Breakup by Type
7 Market Breakup by Heat Exchanger Type
8 Market Breakup by Operating Cycle
9 Market Breakup by Temperature
10 Market Breakup by Application
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Advanced Research Systems Inc.
- Air Liquide S.A.
- AMETEK Inc.
- Brooks Automation Inc.
- Chart Industries Inc.
- Cryomech Inc.
- Honeywell International Inc.
- Lake Shore Cryotronics Inc.
- Northrop Grumman Corporation
- RICOR Cryogenic & Vacuum Systems
- Sumitomo Heavy Industries Ltd.
- Superconductor Technologies Inc.
- Thales Group
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.1 Billion |
| Forecasted Market Value ( USD | $ 5.2 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
