The expanding use in cooling down power systems, superconducting magnets, and the semiconductor sector, is expected to drive market expansion in the near future at a CAGR of 10.80% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the "Cryocooler Market” 

MRFR recognizes the following companies as the key players in the global Cryocooler market—Sumitomo Heavy Industries, Ltd., Advanced Research Systems, Chart Industries, AMETEK.Inc. (Sunpower Inc.), Cryomech Inc., DH Industries, Janis Research Company LLC, Brooks Automation, Superconductor Technologies Inc., Northrop Grumman, RICOR, Cobham Missions Systems Wimborne Limited.

Market Highlights

The global Cryocooler market is accounted to register a CAGR of 10.80% during the forecast period and is estimated to reach USD 7.2 billion by 2032.

A mechanical device known as a cryocooler uses the compression and expansion of gas to create extremely low temperatures. Cryogenic temperature, which is employed for a variety of purposes including superconductivity, superfluidity, densification, and reduced thermal noise, is a low temperature.

The demand for cryocoolers is being driven by their expanding use in cooling down power systems, superconducting magnets, and the semiconductor sector. Cryocoolers are in great demand worldwide in industries including healthcare and military & defense. Cryocooler market expansion was negatively impacted by the COVID-19 epidemic.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Cryocooler Market Trends

Segment Analysis

The global Cryocooler market has been segmented based Type, Heat Exchanger Type, and Application.

On the basis of Type, the market is segmented into Gifford-Mcmahon, Pulse-Tube, Stirling, Brayton, and Joule-Thomson. The Gifford-Mcmahon segment was attributed to holding the largest market share in 2022.

Based on Heat Exchanger Type, the global Cryocooler market has been segmented into regenerative heat exchanger and recuperative heat exchanger. The regenerative heat exchanger segment was expected to hold the largest market share in 2022.

Based on Application, the global Cryocooler market has been segmented into military & defense, healthcare, power & energy, aerospace, research & development, transport, mining & metal, and others. The military & defense segment was expected to hold the largest market share in 2022.

Regional Analysis

The global Cryocooler market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Cryocooler market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Cryocooler market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Cryocooler market comprises of Middle East, Africa, and Latin America.

The largest market share for Cryocooler was maintained by the North American regional sector. North America owned the largest revenue share of 45.80% in 2022 and now controls the market as a result of the fast growing use of systems in the military industry and the growing use of cryocoolers in the healthcare sector.

Moreover, during the forecast period, a respectable growth rate is anticipated for the European market. This might be because sophisticated systems and detectors used in the region frequently use cryocoolers, such as scaled-down payloads, thermal weapon sights, and missile warning systems.

Additionally, Asia Pacific is anticipated to grow at the highest rate during the forecast period and will account for a sizable share of sales in 2022. Numerous factors are to blame for this increase, including the military and defense businesses in the region, particularly those from countries like India, China, Vietnam, and Pakistan.

Furthermore, the cryocooler market in the Latin America and Middle East & Africa (MEA) region is expected to witness significant growth in the coming years. The market is driven by the increasing demand for cryocoolers in various applications, including medical and healthcare, military and defense, space, and research and development.

Key Findings of the Study

• The global Cryocooler market is expected to reach USD 7.2 billion by 2032, at a CAGR of 10.80% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market due to the increasing emphasis placed on green energy and carbon emission reduction by government bodies through policies and initiatives


• Based on application, the military & defense segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Sumitomo Heavy Industries, Ltd., Advanced Research Systems, Chart Industries, AMETEK.Inc. (Sunpower Inc.), Cryomech Inc., DH Industries, Janis Research Company LLC, Brooks Automation, Superconductor Technologies Inc., Northrop Grumman, RICOR, Cobham Missions Systems Wimborne Limited.