Global Cryogen Free Dilution Refrigerators Market Overview:
In this era of rampant technological innovations, carbon-free electricity is a major driver for the ongoing nuclear research globally. As per the IEA, WEO (World Energy Outlook) New Policies Scenario, about $1.1 trillion of investment in nuclear power by 2040 will augment towards an increment of nuclear power production by around 46%. With such colossal inflow of investments, this sector has the capacity to drive its adjacent industries with a rapid stride. Cryogen free dilution refrigerators market is all set to capitalize on this phenomenon, owing to its extensive employment in the field of nuclear research, quantum computing, and condensed matter. As per the IndustryARC business intelligence report, the global cryogen free dilution refrigerators market size was more than $100 million as of 2018 and is estimated towards an exponential growth at a robust CAGR of 12% during the forecast period of 2019-2025.
Global Cryogen Free Dilution Refrigerators Market Outlook:
Cryogen free dilution refrigerators have been stepping as a dominant and integral component in the technological world owing to their effectiveness in cooling technical parts for relevant research fields. In the recent past, they have been quite useful in several scientific computer projects around the world dealing with the nature and behavior of energy and matter on the quantum (atomic and subatomic) level. Owing to such technological developments quantum computing leads the application segment of the cryogen free dilution refrigerators market and is anticipated to augment with a robust CAGR of 25% during the forecast period of 2019-2025.
Though nuclear research is catering primarily the energy sector, its application in the weapon category cannot be ignored. Ironically, the principal UN body accountable for evolving a nuclear-weapon-free world – has an annual budget of $10 million, which is less than the amount of $12 million spent on nuclear weapons every hour. This assertion can be justified by the fact that the yearly spending by the United States at the initial phases of this decade was $61.3billion. Owing to such progressions along with adjacent modern technological developments such as quantum computing, photonics and spintronics, condensed matter and nuclear research, North America region dominates the cryogen free dilution refrigerators market share. As per an acute regional analysis, this region arrested nearly 35% of the global demand under its own territory in 2018.
Global Cryogen Free Dilution Refrigerators Market Growth Drivers:
The major growth drivers of the cryogen free dilution refrigerators market are its employment in sectors related to space and innovations, and nuclear research. The constant need for a substance, commodity or invention to supplement cooling of objects at a specific desired level, efficient storage facility for liquid nitrogen, and liquid helium in interstellar operations and failure of cooling powder as a cooling agent in advanced operations are the prominent factors driving the cryogen free dilution refrigerators market and stroking it with abundant demand.
Global Cryogen Free Dilution Refrigerators Market Challenges:
Though being an inevitable asset of modern era energy, nuclear and space operations and cryogen free dilution refrigerators are not economical. An imported dilution fridge can cost up to $387,000 and economically marginal organizations cannot afford it, hence adversely affecting its market. But, indigenous production can relatively cut down the expenses and create room for efficient adoption. A classic example is the India’s first indigenously-designed advanced cryogenic technology (cryocooler) developed by the Helium Technology and Low Temperature Physics lab at VECC (Department of Atomic Energy’s Variable Energy Cyclotron Centre), which can store liquid nitrogen, and liquid helium and is claimed by the officials to cost half the price of an imported device.
Global Cryogen Free Dilution Refrigerators Market Players Perspective:
Some of the key market players profiled in this report are Oxford Instruments, BlueFors, Janis Research, Cryomagnetics, Hall Scientific, ICE Oxford, Cryoconcept, Leiden Cryogenics, and Quantum Design.
Oxford Instruments, with above 50 years of experience in the engineering of cryogenic systems for research, ultra-high vacuum, semiconductor, and medical applications is a dominant name in the Cryogen free dilution refrigerators market. Some of the products range are Dilution refrigerators for T < 10mK, 3He refrigerators for T < 250mK, Refrigerators for T down to 800mK, Cryostats for spectroscopy, Cryostats for X-Ray diffraction and Cryogenic spare parts.
Global Cryogen Free Dilution Refrigerators Market Trends:
Key Events: The scientists from NASA have been working consistently in their Cryo’enics Tests Laboratory for working on world’s largest liquid hydrogen storage tank to be thermally controlled by using cryogen free dilution refrigerators. This storage tank will be vital in the space launch of Orion spacecraft which will be sent to the Moon, and planet Mars as well.
Leiden Cryogenics verified a new Crygen-free dilution refrigerator with dual pulsated tube coolers that can circulate 8 mmol/s and has a cooling power of 2 mW at 100 mK and 3 mW at 120 mK with 5.5 mK minimum temperature. This refrigerator, which is the best performing CF in the world will be employed to cool 1 ton of crystals for experiments on double beta decay for the CUORE project stationed in the Gran Sasso tunnel, Italy. It will also cool approximately 20 ton of Lead and Copper required for the structure and shielding of the crystals.
Cryogen Free Dilution Refrigerators Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Cryogen Free Dilution Refrigerators Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of equipment in the Cryogen Free Dilution Refrigerators Market, and their specific applications in different phases of industrial operations.
Cryogen Free Dilution Refrigerators Market Report: Industry Coverage
- By Geography: Americas, Europe, Asia-Pacific, and Rest of the World
The Cryogen Free Dilution Refrigerators Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia