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Cryocooler Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Cryocooler Market
Cryocooler Market Size, Growth Rate, And Forecast
The global cryocooler market size is expected to grow from $2.53 billion in 2022 to $2.77 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cryocooler market size is expected to reach $3.83 billion in 2027 at a CAGR of 8.4%.
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Cryocooler Market Drivers
Expanding liquefied natural gas production is expected to boost the growth of the cryocoolers market going forward. Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, around -260° Fahrenheit, for transportation and storage. Small liquid natural gas distribution stations must install compact, high-efficiency cryocoolers to reliquefy boil-off gas in the liquid natural gas tank.
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Cryocooler Market Segments
• By Type: Pulse-Tube (PT), Gifford-McMohan (GM), Joule-Thomson (JT), Brayton, Stirling
• By Operating Cycle: Open-Loop Cycle, Closed-Loop Cycle
• By Temperature: 1K-5K, 5.1K-10K, 10.1K-50K, 50.1K-100K, 100.1K-300K
• By Offering: Hardware, Services
• By Application: Space, Healthcare, Military and Defence, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the cryocooler market.
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Cryocooler Market Key Players
Major competitors in the cryocooler market include Sumitomo Heavy Industries Limited, Sunpower Inc. (AMETEK Inc.), RICOR, Northrop Grumman Corporation, Cryomech Inc., Chart Industries Inc., Janis Research Company LLC, Advanced Research Systems Inc., Superconductor Technologies Inc.
The Business Research Company's "Global Cryocooler Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Cryocooler Market Include:
1. Executive Summary
2. Cryocooler Market Characteristics
3. Cryocooler Market Trends And Strategies
4. Cryocooler Market - Macro Economic Scenario
5. Cryocooler Market Size And Growth
……
26. Africa Cryocooler Market
27. Cryocooler Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cryocooler Market
29. Cryocooler Market Future Outlook and Potential Analysis
30. Appendix
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