Helium Liquefier Market Size | Global Report -2031

Oct 14, 2024

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The global helium liquefier market size is expected to be USD 189.7 million in 2022 and is projected to touch USD 331.61 million by 2031, at a CAGR of 6.4% during the forecast period.

Helium liquefier is an open system that produces helium as a liquid output and requires helium gas to be fed into an equivalent quantity. It is a machine that converts helium gas into liquid. It is an open system that is used for purification and recovery. Mass flow rates involved in the refrigeration process are asymmetric. Main components of the machine are compressors, heat exchanger, vacuum-insulated cold box, TED expansion, control system, and liquid helium storage.

The emergent demand for helium liquefier is due to growing demand for helium due to its non-renewable nature. Owing to the need to reutilize helium has spiked the interest for various research and studies. Use of liquid helium for commercial purposes such as in magnetoencephalography (MEG) scanners, nuclear magnetic resonance (NMR) spectrometers, and magnetic resonance imaging (MRI) scanners is projected to create demand for liquefier. Demand for helium in the healthcare industry is estimated to drive the demand for liquefiers. Use of helium in experimental physics is projected to facilitate market development.

The global COVID-19 pandemic has been unprecedented and staggering, with helium liquefier experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the helium liquefied market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the global helium liquefier market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The demand for liquefier is derived from various industries such as cryogenics, medical, electronics, and semiconductor industries. Halt on such industries impacted the demand for machinery and equipment used in the industries as well. Due to disruptions in the supply chains affected the supply of the raw materials essential to make the end-user products from end-user industries. The recovery for the market is attributed to the recovery of end-user industries.

"Use of the Product in Cryogenics to Facilitate Market Development"

The global helium liquefier market growth is projected to drive due to its application in cryogenics. Liquid helium is one of the commonly used liquids used in cryogenics apart from nitrogen. Liquid helium due to its low boiling point is used in many cryogenic systems when temperatures below the boiling point nitrogen are required. One of the easy ways to cool different types of apertures is to submerge them in liquid helium which is expected to create the demand for liquefier machines. Cryogenics is used for various purposes such as it is used to produce cryogenic fields for rockets, MRI machines, storing of food in large quantities, freezing blood, special effects of fog, tissue samples, and also to cool superconductors. Such trends for application in cryogenics are expected to pose an opportunity for market growth during the forecast period.

Based on type; the market is divided into below 40 L/d, 40-80 L/d, and above 80 L/d.

40-80 L/d is the leading part of the type segment.

Based on application; the market is divided into research institutes, healthcare, university, and others.

Research institutes are the leading part of the application segment.

"Increasing Demand for Helium to Facilitate Market Progress"

The global helium liquefier market growth is projected to develop owing to increasing demand for helium. Liquid helium has one the greatest prospects for ionization. Temperature of liquid helium is near to absolute zero, has very high specific heat, and has thermal conductivity. Currently liquid helium is used in cryogenics, which is one of the most common applications of liquid helium. It is also used in aerostatics where it is used as a lifting gas and is used in semiconductor processing. Other processes that use helium are plasma etching and vacuum pumping. Such growing applications of helium is anticipated to drive the demand for helium liquefier and provide profitable opportunities for the market.

"Growing R&D Activities to Surge Product Demand"

Growing demand for helium liquefier owing to its growing R&D activities is estimated to drive the product demand. Mounting investments in research and development activities is one of the key trends for helium-based devices impacting the global demand. There are various ongoing research activities to use supercooled helium for improving the global positioning system (GPS) for airplanes and submarines. Such growing R&D activities regarding the product are anticipated to drive the market growth during the forecast period.

"High Cost of the Machine to Hamper Product Demand"

There are a number of factors that can push the growth of the helium liquefier market. Restraining factors such as high cost of the machinery. One of the limiting factors is high costs associated with the machine. Harmful effects of continuous exposure to helium can lead to health risk. Large amounts of helium can decrease the available amount of oxygen in the atmosphere. Such negative effects of the product are anticipated to restrict and limit the market growth.

"Leading Consumption of Helium in Asia Pacific to Drive Market Share"

Asia Pacific holds the largest part of the global helium liquefier market share owing to the leading consumer for helium. The region has one of the leading countries that uses helium liquefier. Growing adoption of helium in the electronics industry in the region is likely to generate demand for the machine. Increasing use of liquid helium in various R&D activities is expected to drive the market growth. Growing use of the product for cryogenics is anticipated to facilitate the market progress.

Market Players" to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.

Market Size Value In

US$ 189.7 Million in 2022

Market Size Value By

US$ 331.61 Million by 2031

Growth Rate

CAGR of 6.4% from 2022 to 2031

Forecast Period

2024-2031

Base Year

2023

Historical Data Available

Yes

Regional Scope

Global

Segments Covered

Type, Application & Region

The global helium liquefier market size is expected to be USD 189.7 million in 2022 and is projected to touch USD 331.61 million by 2031.

The driving factors of the helium liquefier market are increasing demand for helium to facilitate market progress and growing R&D activities to surge product demand.

The crucial players operating in the helium liquefier market are Linde Engineering, Air Liquide, Quantum Design, CSIC, Advanced Research Systems, Cryo Industries of America, Cryomech etc.