Global Cryocooler Market 2018-2022
A cryocooler is a device that is used for providing active cooling at temperatures of around (302° F)Technavio’s analysts forecast the global cryocooler market to grow at a CAGR of 6.41% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global cryocooler market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cryocooler Market 2018-2022
Technavio recognizes the following companies as the key players in the global cryocooler market: AMETEK, Brooks Automation, Cryomech, Sumitomo Heavy Industries, and Thales Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of cryocoolers for space applications. With the growing usage of cryogenic detectors for space applications, vendors in the stirling cryocoolers market are increasingly focusing on manufacturing miniature cryocoolers for the convenient development of cryogen-free (helium-free) satellites.”
According to the report, one driver in the market is scarcity of helium (rapid shortage of helium gas). With the increased use of Helium gas in airships, MRI scanners, and other end-user industries owing to its non-flammable, odorless, colorless, and non-toxic properties, the scare resource has been depleting at a comparatively higher rate.
Further, the report states that one challenge in the market is performance challenge of cryocoolers. A primary constraint for cryocoolers is that they require pure nitrogen or argon gas of very high pressure to achieve even a modest efficiency.
Sumitomo Heavy Industries