NEW YORK, May 16, 2016 /PRNewswire/ -- "The global cryocooler market expected to grow at a CAGR of 7.29%"
The cryocooler market is expected to reach USD 2.94 billion by 2022, at a CAGR of 7.29% between 2016 and 2022. The major factors contributing to the growth of this market include the growing medical & healthcare services in developing economies and increasing production of the liquefied natural gas over the last couple of years.
"The market for Stirling cryocoolers is expected to grow at the highest rate during the forecast period"
The market for Stirling cryocoolers is expected to grow at the highest rate between 2016 and 2022 in the global cryocooler market. The major factors contributing to the growth of this market include growing adoption of these cryocoolers in a variety of applications such as space, military, medical, and commercial among others. The Stirling cryocoolers are small in size and offer higher efficiencies compared to the other cryocoolers.
"APAC to be the fastest-growing market during the forecast period in the cryocooler market"
The global cryocooler market in the Americas held the largest share in 2015; however, the market in APAC is expected to exhibit the highest growth rate during the forecast period. The major factors contributing to the growth of this market include the increasing adoption of wide range of cryocoolers in semiconductor fabrication, automotive industry, and space applications among others.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the market. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1%–25%, Tier 2%–35%, and Tier 3%–40%
- By Designation: C-Level – 35%, Director Level – 25%, Others – 40%
- By Region: North America – 43%, Europe – 29%, APAC – 14%, RoW – 14%
The prominent players profiled in this report are:
1. Advanced Research Systems, Inc. (U.S.)
2. Brooks Automation, Inc. (U.S.)
3. Chart Industries, Inc. (U.S.)
4. Cryomech, Inc. (U.S.)
5. DH Industries BV (The Netherlands)
6. Janis Research Company, LLC (U.S.)
7. RICOR – Cryogenic & Vacuum Systems (Israel)
8. Sumitomo Heavy Industries Ltd. (Japan)
9. Sunpower, Inc. (U.S.)
10. Superconductor Technologies, Inc. (U.S.)
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the cryocoolers market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report would help stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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