Global Cryocooler Market Size Expected To Reach 2.42 $Billion By 2020

Date: 2016-09-23

The growing medical & healthcare services is the main impetus to drive the growth of crycooler market, according to research, global market is projected to grow to 2.42 $Billion by 2020, at a CAGR of 6. 9% between 2016 and 2020.

The cryocooler market is application driven. This market has been segmented on the basis of application into military, medical, commercial, environmental, energy, transport, research & development, space, agriculture & biology, and others. The cryocooler market for the military application accounted for the largest share in 2015. This market is expected to grow at a significant rate between 2016 and 2022, driven by growing adoption of various cryocoolers to provide cryogenic temperatures for IR sensors in missile guidance, night vison based systems, and satellite based surveillance.

By types of cryocooler
Gifford-McMahon (GM), Pulse-Tube (PT), Joule-Thomson (JT), Stirling, and Brayton cryocoolers are the major cryocooler types that have been considered in the cryocooler market. 

Among these cryocoolers, the market for GM cryocoolers is expected to witness the highest growth during the forecast period. The major reasons for the growth of this market include wide adoption of GM cryocoolers for cooling IR sensors in medical MRI systems, cryosurgeries, and cryopumps in semiconductor applications. Also, the increasing number of GM cryocooler product launches catering to diverse industry segments is further contributing to the growth of this market.

Geographically, Americas region is holding the highest size in terms of revenue in 2016, while the market in APAC is expected to hit the fastest-growth rate between 2016 and 2020.

Cryocooler market share by region as following:


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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520

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