"Cryostat Market - Global Forecast to 2022" Published

Cryostat Market by Type (Closed-Cycle, Continuous-Flow, Bath, Multistage), System Component (Dewars, Transfer Tubes, Gas Flow Pumps, Temperature Controllers, High Vacuum Pumps, Microtome Blades), Cryogen, Industry, & Geography - Global Forecast to 2022

"Cryostats market to grow at a CAGR of 6% between 2016 and 2022"

The cryostat market is expected to reach USD 2.90 billion by 2022 at a CAGR of 6% between 2016 and 2022. Increasing demand for cryostats for cooling infrared sensors in various healthcare machines, in research centers, and in the energy & power and aerospace industries is expected to drive the growth of the market.

"Cryostats market for the aerospace industry expected to register the highest growth rate during the forecast period"

The healthcare industry contributes the maximum toward the cryostats market. However, the cryostats market for the aerospace industry is expected to exhibit the highest growth rate during the forecast period. These devices are used for cooling infrared sensors during numerous astronomical studies. Some of the major studies conducted by various space and satellite agencies include space astronomy and planetary science.

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"North America expected to hold the largest market share during the forecast period"

North America held the major share of the overall cryostats market in 2015. The U.S. is the prime contributor to the market in this region due to the availability of advanced healthcare services, in which cryostats are widely used, in this nation. The market in APAC is estimated to grow at the highest rate during the forecast period. Several countries in APAC import natural gases, which is boosting the trade as well as the growth of the market for cryogenics in this region. Asian economies, such as China and Japan, are unfolding new growth avenues for various companies operating in the healthcare and energy & power sectors, thereby, providing growth opportunities for the market in this region.

In the process of determining and verifying the market size for several segments and subsegments of the cryostats market gathered through the secondary research, extensive primary interviews have been conducted with key industry people. Break-up of the profiles of primary participants is shown below:

* By Company Type: Tier 1: 25%, Tier 2: 35%, and Tier 3: 40%
* By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%
* By Region: North America: 43%, Europe: 29%, APAC: 14%, and RoW: 14%

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