The global cryocooler market is anticipated to grow at a considerable CAGR of 6.9% during the forecast period (2022-2028). The rapid shortage of helium gas across the developing economies particularly in North America will be going to propel the growth of the market. For instance, according to the US Geological Survey, in 2020, helium exports from the United States amounted to 100 million cubic meters, an increase of 19.04% compared to 2018. Fact that cryogenic fluids such as liquid helium, liquid nitrogen, or very cold nitrogen and helium gas are utilized by cryocooling, the market is estimated to get boosted by such factors.
Browse the full report description of “Global Cryocooler Market Size, Share & Trends Analysis Report by Type (Gifford-Mcmahon , Pulse-Tube, Stirling, and Brayton), By Operating Cycle (Open-loop cycle, and Closed-loop cycle) By Application (Healthcare, Commercial, Transportation, Military, and Space) Forecast Period 2022-2028” at https://www.omrglobal.com/industry-reports/cryocooler-market
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in December 2020, Clean Power Hydrogen (CPH2) partnered with AFCryo, one of the prominent cryogenic systems manufacturers for gas separation and hydrogen liquefaction is a multi-national tie-up where the combined technology will offer the market a cheaper and more reliable way of generating green hydrogen from renewable sources. CPH2 and AFCryo will work collaboratively to enhance the technology from an engineering perspective, carry out specific analyses, and work together to develop the markets throughout Europe. Additionally, AFCryo will design CPH2larger cryogenics systems which will form the ‘back-end’ of our electrolyzer technology for scales above 1MW, and there will also be some cross-licensing of technologies.
Market Coverage
• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o Operating Cycle
o By Application
• Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Sumitomo Heavy Industries Limited, Northrop Grumman Corporation, Superconductor Technologies Inc, Sunpower Inc.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Cryocooler Market Report Segment
By Type
By Operating Cycle
By Application
Global Cryocooler Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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