Cryogen Free Dilution Refrigerators Market - Forecast(2021 - 2026)

 

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%[1]. 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.

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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[2]. 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.

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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.

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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[3]. 

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.

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