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Global Stirling Cryocooler Market is projected to grow at a CAGR of 6.07% to reach revenue of $1043.57 million by 2023

Published By : IndustryARC | Published On : 2018-09-20
In the Report “Stirling Cryocoolers Market: By Cooling Type (Helium Gas, Liquefiers); By Application (MRI Magnet Cooling, Boil off Storage Tanks, Others); By End User Industry (Aerospace, Biostorage, Healthcare); By Geography - Forecast (2018-2023)” published by IndustryARC, the market is majorly driven by adoption of cryocoolers in semiconductor industries and military sector to maintain cryoenic temperature of sensors. 

Browse 29 Market Tables, 116 Figures spread through 140 slides and an in-depth TOC on “Stirling Cryocoolers Market (2018 - 2023)

North America established with major share and growth in the Stirling Cryocooler Market

North America is the leading market in Stirling Cryocooler Market with highest amount of share. The market generated a value of $273.84 million in 2017. Now, the growing production has lifted the market to grow at a CAGR of 4.98% to reach value of $366.50 million by 2023. U.S. is the dominating country in North America region to hold maximum revenue and expected to grow at a CAGR of 4.54% and maintain its dominance. Asia-Pacific market for stirling engine model is forecast to experience high growth market, due to its rising expenditure, military investments and advanced space programs from China, India and Japan which will lift the market. The Asia-Pacific market is expected grow at a CAGR of 10.51% to reach value of $255.88 million by 2023 from $140.45 million in 2017. Japan is the leading country in the APAC region, where stirling cooler are used in applications that offer high speed imaging and sensing detector technologies. 

Selected  Type Analysis done in the full Report:

The stirling cryocoolers market is segmented into types of cooling, such as Helium Gas Cryocoolers and Liquefiers cooling system. Helium gas cryocoolers market segment was valued to be $457.64 million in 2017 and it is estimated to reach $600.26 million by 2023 growing at CAGR 4.63% during 2018-2023. Helium Gas lines are well equipped by various well established companies across the globe, owing to its potential applications including wide cooling range. Liquefiers market segment was valued at $274.03 million in 2017, and it will likely reach $443.31 million by 2023, growing at a CAGR 8.53% during the forecast 2018-2023. Liquefiers market is further divided into different types such as nitrogen, methane, oxygen, argon, neon among others. Among all the types, Nitrogen is the leading one to reach revenue of $83.29 million in 2017. The Nitrogen market is further expected to continue its dominance and to reach revenue of $128.60 million by 2023.

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Excerpts on Market Growth Factors:

Continuous performance, and maintenance free operations offered by these stirling engine cryocooler are creating opportunities to increase investments in military, medical, semiconductor and others sectors in developing countries is driving the market.
Features like reliability, efficiency and power density of advanced stirling cryocoolers coupled with the development of superior technologies is driving the growth of global stirling cryocoolers market. 
In stirling cycle cryocooler, the launch of low cost high efficiency linear drive motors has opened a number of market options for cryogenic and other low temperature refrigerator systems. 

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Key players of the Stirling Cryocooler Market:

Sumitomo, Air Liquide, and Ricor are the leading companies among others. Findings say Sumitomo and Air Liquide holds maximum share of 13% and 10% respectively in 2017. Sumitomo Heavy industries, Ltd. came up with its product as Mechanical Cooler below 4.5K with cooling power 1.5 Watts. Thales Cryogenics has a product named as 720 mW/ ¼" IDCA with 24 0000 hours operating lifetime. Janis Research Company, Inc. launched a product called Intergral Stirling ½ W which has 10,000 hours of operating lifetime. These above listed products for stirling cryocoolers has been properly benchmarked. Companies are working towards the up gradation of stirling engine cooler and it will help the market to expand further. 

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