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Global Cryocooler Market 2021 Segmented by Application and Geography Trends, Growth and Forecasts

Cryocooler

Cryocooler Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Cryocooler market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Healthcare is Expected to Hold a Significant Share

– In the healthcare sector, increasing demand for cryocoolers is attributed to its extensive utilization in proton therapy, MRI systems, cryosurgery, and liquefaction of oxygen in hospitals. Proton therapy is a kind of particle therapy that directs proton beams at cancer cells with precision. Many high-powered magnets used in proton therapy are superconducting magnets and needs to be cooled to liquid helium temperatures, using cryocoolers.
– Cancer is one of the deadly diseases claiming lives across the world. For instance, as per the National Cancer Institute, in 2018, an estimated 1,735,350 new cancer cases were diagnosed in the and 609,640 people died from the disease. Many cancer treatment centers and hospitals are investing in, or consider investing in this life-saving technology. This, in turn, is expected to impact the market demand over the forecast period.

North America is Expected to Hold the Largest Share

– North America is one among the leading regions when it comes to medical research, health care market innovations, and world-class care. The growing number of cancer cases is one of the significant factors expected to impact the market studied in the region. In Canada, an estimated 206,200 new cases of cancer and 80,800 deaths from cancer occurred in 2017, as per the Canadian Cancer Society. Thus, to cure this, proton therapy is being adopted in the region. Companies such as CDL Laboratories announced a USD 70 million investment to build a proton therapy cancer treatment centre in Montreal.
– Cryocoolers are also used for satellite monitoring and missile guidance in the military sector. The Navy’s aircraft carrier, USS Gerald R Ford has been installed with cryocooler technology.

Market Overview:

  • The cryocooler market is expected to record a CAGR of over 7% during the forecast period 2019-2024. There are primarily five types of common cryocooler, each with different operating principles, but all rely on compression and expansion of gas to bring about temperature changes.
  • – Cryocoolers are used extensively in defense applications, majorly for the cooling of infrared focal planes. Quite specifically, cryocoolers are typically used to cool intrinsic semiconductor type focal planes for mid-wave infrared (nominally 3 to 5-micron wavelength) and longwave infrared (nominally 9 to 12 micron) sensors.
  • – A significant number of improvements to cryocoolers have occurred in the past two decades, which in turn has allowed many more applications of cryogenics to flourish and find their way into the marketplace.
  • – Cooling of infrared and visible cameras continue to provide opportunities for small cryocoolers. While the recent years have witnessed a shift from cooled to un-cooled IR cameras, a market remains for high-performance infrared imagers cooled by small Stirling cycle cryocoolers.
  • – One of the significant developments in cryocooler design in the use of rare-earth materials as regenerator matrix materials. These materials exhibit large peaks in specific heat in the 4K to 20K range and result in good regenerator performance at these temperatures.

    Key Manufacturers Like 

  • Sumitomo Heavy Industries Limited
  • Sunpower Inc. (Ametek Inc.)
  • Ricor Cryogenic & Vacuum System
  • Brooks Automation Inc.
  • Cryomech Inc.
  • Northrop Grumman Corporation
  • Janis Research Company LLC
  • Advanced Research Systems Inc.
  • Superconductor Technologies Inc.
  • Honeywell International Inc..

    Scope of the Report:

  • The cryocooler is a device that provides active cooling of something down to cryogenic temperatures. As per the Cryogenic Society of America Inc., a cryogenic cooler or a cryocooler is designed to allow active cooling at temperatures of about -150 degrees Celsius or colder. They use the flow of gas inside closed tubes which absorb the temperature and radiate it outside. The device generally uses Helium, hydrogen or a mixture of gases of this purpose.
  • Cryocooler market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Cryocooler market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Cryocooler market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Cryocooler market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Cryocooler market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Cryocooler ?
    • Who are Opportunities, Risk and Driving Force of Cryocooler market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Cryocooler space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Cryocooler market opportunities, market risk and market overview of the Market?

    Lastly, the Global Cryocooler Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Cryocooler Market Report:

    • To provide a detailed analysis of the market structure along with the Cryocooler market forecast of various segments and sub-segments of the Cryocooler market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Cryocooler market trends that influence the global Cryocooler market

    Detailed TOC of Cryocooler Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Growing Demand for Maintaining Cryogenic Temperature for IR Sensors
    4.3.2 Increasing Need for Cooling of High-Critical-Temperature (HTC) Superconducting Systems
    4.3.3 Rising Demand for Utilization in Proton Therapy and MRI Systems
    4.4 Market Restraints
    4.4.1 High Input Power Consumption of Cryocoolers
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Pulse-Tube(PT)
    5.1.2 Gifford-McMahon (GM)
    5.1.3 Joule-Thomson(JT)
    5.1.4 Brayton
    5.1.5 Stirling
    5.2 By Application
    5.2.1 Space
    5.2.2 Healthcare
    5.2.3 Military & Defense
    5.2.4 Other Applications
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Rest of the World

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Sumitomo Heavy Industries Limited
    6.1.2 Sunpower Inc. (Ametek Inc.)
    6.1.3 Ricor – Cryogenic & Vacuum System
    6.1.4 Brooks Automation Inc.
    6.1.5 Cryomech Inc.
    6.1.6 Northrop Grumman Corporation
    6.1.7 Janis Research Company LLC
    6.1.8 Advanced Research Systems Inc.
    6.1.9 Superconductor Technologies Inc.
    6.1.10 Honeywell International Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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