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Valued to be $3.4 Billion by 2026, Cryocoolers Slated for Robust Growth Worldwide
SAN FRANCISCO , June 27, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Cryocoolers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 7; Released: April 2022
Executive Pool: 761
Companies: 52 - Players covered include Advanced Research Systems, Inc.; AIM Infrarot-Module GmbH; Air Liquide SA; Brooks Automation, Inc.; Chart Industries, Inc.; Creare LLC; Cryomech, Inc.; Fabrum Solutions Ltd.; Janis Research Company, LLC.; L3 Cincinnati Electronics; Le-tehnika, d.o.o. ; Lihan Technologies Co., Ltd.; Northrop Grumman Corporation; Oxford Cryosystems; Ricor - Cryogenic & Vacuum Systems; Sierra Lobo, Inc.; Stratox Limited; Sumitomo Heavy Industries Ltd.; Sunpower Inc.; Superconductor Technologies, Inc.; Thales Cryogenics B.V.; Tristan Technologies, Inc.; Vacree Technologies Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Type (Gifford-McMahon Cryocoolers, Pulse-Tube Cryocoolers, Stirling Cryocoolers, Joule Thomson Cryocoolers, Brayton Cryocoolers); Application (Military, Commercial, Research & Development, Medical, Energy & Power, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Cryocoolers Market to Reach $3.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Cryocoolers estimated at US$2.4 Billion, is projected to reach a revised size of US$3.4 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Gifford-McMahon cryocoolers, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach US$695.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pulse-Tube cryocoolers segment is readjusted to a revised 4.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $684.7 Million in 2021, While China is Forecast to Reach $696.4 Million by 2026
The Cryocoolers market in the U.S. is estimated at US$684.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$696.4 Million by the year 2026 trailing a CAGR of 9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Stirling cryocoolers Segment to Reach US$1.1 Billion by the year 2026
In the global Stirling cryocoolers segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$571.8 Million will reach a projected size of US$855.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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