Cryocoolers have gained prominence in diverse fields due to their applications in expanding medical and healthcare services in emerging countries and supporting the rising production of liquefied natural gas (LNG). These cooling systems play a pivotal role in medical facilities by enabling advanced diagnostic equipment and ensuring the preservation of critical medical supplies. Simultaneously, they facilitate the liquefaction process of natural gas, which is crucial for its efficient transportation and storage. As demand grows for enhanced healthcare and sustainable energy solutions. Cryocoolers contribute significantly to fulfilling these requirements on a global scale.
According to Coherent Market Insights, The market for Cryocooler estimated at US$ 2,401.3 million in 2022 and is anticipated to grow at a CAGR of 5.8% from 2023 to 2030 to reach US$ 3,769.9 million.
Top Companies in the Cryocooler Industry:
1. Sunpower Inc.:
Founded in 1985, Sunpower Inc. is headquartered in Athens, Ohio. The company operates in multiple countries, including the United States, Germany and Japan. Sunpower specializes in high-efficiency cryocoolers for various applications, such as space exploration and medical equipment. Their recent developments include collaborating with NASA to provide cryocoolers for space telescopes and partnering with a leading medical equipment manufacturer to enhance the performance of MRI machines.
2. Superconductor Technologies Inc.:
Established in 1987, Superconductor Technologies Inc. is based in Austin, Texas. The company’s cryocooler solutions are utilized in healthcare, defense and research sectors. Operating in multiple countries, including the United States and China, the company’s recent focus has been on advancing cryocooler technology for quantum computing applications. Their partnership with a major quantum computing company led to the development of highly efficient cooling systems for supercomputing qubits.
3. RICOR:
Founded in 1967, RICOR is headquartered in En Harod Ihud, Israel. With a presence in over 30 countries, including India and France, RICOR specializes in Stirling cryocoolers for defense, space and industrial applications. The company recently achieved a breakthrough by developing a compact cryocooler with extended operational life, catering to the growing demand for reliable cooling solutions in the defense sector.
4. Cobham PLC:
Established in n1934, Cobham PLC is based in Wimborne, United Kingdom and operates globally, including countries like the United States and Australia. Cobham specializes in cryocoolers for satellite-based communication systems and contributing to space exploration missions by providing cooling solutions for scientific instruments.
5. Cryomech Inc.:
Established in 1963, Cryomech Inc. is based in Syracause, New York, USA. It serves customers worldwide, with its crycooler systems used in research, healthcare and semiconductor industries. Cryomech’s recent developments include providing reliable cryogenic solutions for cutting-edge medical equipment such as MRI machines and proton therapy systems.
6. Chart Industries Inc.:
Founded in 1992, is headquartered in Ball Ground, Georgia, USA. It operates across North America, Europe and Asia. Specializing in cryogenic equipment, including cryocoolers, Chart Industries serves industries such as energy, healthcare and aerospace. The company’s recent endeavors involve supplying liquefied natural gas (LNG) equipment, including cryogenic coolers, to support the growing demand for cleaner energy sources.
*Definition- The cryocooler market encompasses the industry focused on producing and supplying cooling systems that achieve and maintain very low temperatures, enabling diverse applications across sectors such as healthcare, aerospace and energy.
