Cryogen Free Dilution Refrigerators Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast | Growth Market Reports

The global cryogen free dilution refrigerators market was valued at USD 112.1 Million in 2019 and is projected to reach USD 211.4 Million by 2027, expanding at a CAGR of 9.1% during the forecast period. In terms of volume global cryogen free dilution refrigerators market is expected to expand at CAGR of 8.1% during the forecasted period. A cryogen free dilution refrigerator consists of a gas-handling system (GHS), an integrated pulse tube – dilution refrigerators (PT-DR UNIT), and a compressor for the pulse tube. These tubes and systems are coupled with each other by cables and flexible stainless-steel lines for the gauges and valves. Cryogen free dilution refrigerators come with various innovative features, which simplify operations and enhance their performance. A free dilution refrigerator is a system that uses double-still technology to accelerates the system’s cooling and allows rapidly changes in samples without wasting days for warming up and cooling up.

Market Dynamics

The market is driven by factors such as easy operation of cryogen free dilution refrigerators, provision of large experimental space, and growing use of single dilution in cryogen free dilution refrigerators. Conversely, higher vibration and pressure than conventional dilution refrigerators and less usage in low temperature experiments are likely to restrain the market. Rising R&D investments and growth in the manufacturing of cryogen free dilution refrigerators are creating opportunities in the market.

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Covid-19 Impact

The recent outbreak of COVID-19 has had a huge impact on the overall market. According to the World Trade Organization, trade depends on the effectiveness of the policy responses and the duration of the outbreak. Inadequate ancillary supplies such as raw materials used for the manufacturing of cryogen-free dilution refrigerators are expected to hamper the market during the forecast period, as supply shortages lead to pricing volatility; however, this is expected to create opportunities for market participants. The crisis has forced some companies to think about changing their business models. The impact of COVID-19 has created opportunities in the market, as many countries are engaging in R&D activities that are directly helping to minimize the pandemic situation. Moreover, research activities are expected to completely recommence soon in several countries and the market is projected to grow at a sluggish pace in 2021, as many countries are moving toward unlocking of the lockdowns by following several rules and norms.

Segmental Outlook

By Types

Based on types, global cryogen free dilution refrigerators market is segmented into- Base Temperature Less Than 10 mK, Base Temperature Between 10 - 20 mK, Base Temperature between 21 - 80 mK, and Base Temperature Above 80 mK.

By Applications

On the basis of applications, the cryogen free dilution refrigerators market is segmented into nano research, quantum computing, low temperature detection, and others. The nano research segment is expected to hold a significant share of the market and is projected to expand at a substantial CAGR during the forecast period. The demand for cryogen free dilution refrigerators is expected to grow in the field of quantum computing, as they are able to provide cooling for experiments where the cooling power from the dilution refrigerators is insufficient to cool cables and amplifiers. Thus, the demand for cryogen free dilution refrigerators is projected to expand at a significant CAGR during the forecast period.

Regional Outlook

Based on regions, the global cryogen free dilution refrigerators market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). North America holds a significant share of the global cryogen free dilution refrigerators market due to rising use of these refrigerators in various fields of technologies. This, in turn, is driving the growth of the market and encouraging technological development in this region. The market in Asia Pacific is estimated to expand at a significant CAGR during the forecast period, as countries such as China, Japan, and South Korea are investing in research & development to produce innovative products at low cost rather than importing or buying the technology.

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Competitive Landscape

• Key players in the market include Bluefors Oy, Oxford Instruments, Leiden Cryogenics BV, Lakeshore (Janis Research), and Cryomagnetics, Inc. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and increasing demand for products.

• These players are adopting key strategies such as product development and geographical expansion to increase their presence in the cryogen free dilution refrigerators market.

• In 2020, Lakeshore (Janis Research). Lakeshore acquired Janis Research Company, LCC to expand its product portfolio.

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