Rapid Shortage of Helium Gas is Driving the Market
The global cryocooler market is forecast to grow at a CAGR of 6.41% during the period 2018-2022. The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. One trend in the market is development of cryocoolers for space applications. With the growing usage of cryogenic detectors for space applications, vendors in the stirling cryocoolers market are increasingly focusing on manufacturing miniature cryocoolers for the convenient development of cryogen-free (helium-free) satellites. According to the report, one driver in the market is scarcity of helium (rapid shortage of helium gas). With the increased use of Helium gas in airships, MRI scanners, and other end-user industries owing to its non-flammable, odorless, colorless, and non-toxic properties, the scare resource has been depleting at a comparatively higher rate. Further, the report states that one challenge in the market is performance challenge of cryocoolers. A primary constraint for cryocoolers is that they require pure nitrogen or argon gas of very high pressure to achieve even a modest efficiency.
Sumitomo Heavy Industries