Cryocooler Market 2023: Industry Leader, Growth Analysis and Report Forecast by 2027
The cryocooler market is estimated to be worth USD 2.3 billion in 2020 and projected to reach USD 3.1 billion by 2025, at a CAGR of 6.0%. The rising adoption of cryocoolers in semiconductor industry, superconducting magnets, and power systems, along with surging adoption of cryocoolers in MRI, NMR equipment, and proton therapy in healthcare sector are major factors driving the growth of cryoclooer market globally. The other key factors driving the growth of the market includes the increasing demand for cryocoolers in space applications and the development of cryocoolers for microsatellite military applications. The major players in the market with a significant presence across various geographies in the cryocooler market are Advanced Research Systems, (US), Brooks Automation, (US), Chart Industries, Inc. (US), Cryomech, Inc. (US), and DH Industries (Netherlands). The companies have adopted various strategies in order to grow in the cryocooler market, such as development of innovative ...