Helium Liquefier Market To Reach USD 328.26 Million by Year 2032

Helium Liquefier Market Global Industry Analysis and Forecast (2024-2032) by Type (Below 40 L/d, 40-80 L/d, and Above 80 L/d), By Application (Research Institutes, Healthcare, University), and Region

Market Overview:

The Helium Liquefier Market size was reasonably estimated to be approximately 196.86 Million in 2023 and is poised to generate revenue of over USD 328.26 Million by the end of 2032, projecting a CAGR of around 6.6% from 2024 to 2032.

A Helium Liquefier is a sophisticated device used to cool helium gas to extremely low temperatures, typically below -269 degrees Celsius (-452 degrees Fahrenheit), the point at which helium becomes a liquid. This liquefaction process is crucial for various scientific, medical, and industrial applications where ultra-cold temperatures are required. The liquefier consists of several components including compressors, heat exchangers, expansion turbines, and vacuum pumps. The process begins with compressing helium gas, which raises its temperature. Then, the gas passes through a series of heat exchangers where it is cooled down by transferring heat to other gases.       

Top Key Players Covered in The Helium Liquefier Market:

  • Linde Engineering (India)
  • Air Liquide (France)
  • Quantum Design (U.S.)
  • CSIC (China)
  • Advanced Research Systems (U.S.)
  • Cryo Industries of America (U.S.)
  • Cryomech (U.S.)
  • Cryostar (France)
  • Rotoflow (USA)
  • Fives Cryo (France)
  • Ruben Companies (USA)
  • Universal Industrial Gases, Inc. (USA)
  • CryoVation LLC (USA)
  • RAE Engineering and Inspection Ltd. (Canada), and Other Major Players.

Market Dynamics and Factors:         

The Helium Liquefier Market is primarily driven by the increasing demand for helium across various industries such as healthcare, electronics, and aerospace. Helium is essential for cooling superconducting magnets in MRI machines, as well as for applications in semiconductors and research laboratories. The rising usage of helium in cryogenic applications, coupled with advancements in liquefaction technologies, fuels market growth. Moreover, the expanding usage of helium in gas chromatography, mass spectrometry, and nuclear magnetic resonance (NMR) spectroscopy further propels market opportunities. Additionally, the growing investments in R&D activities to develop more efficient and cost-effective helium liquefaction systems contribute to market expansion. However, the market growth is restrained by factors such as the scarcity of helium resources and fluctuating helium prices. Helium is a finite resource primarily extracted from natural gas wells, leading to concerns regarding its long-term availability and sustainability. Furthermore, the high initial investment required for establishing helium liquefaction facilities poses a challenge for market entry, particularly for small-scale manufacturers.

The Helium Liquefier Market Report Highlight:

  • By Type, Helium is widely utilized in laboratories for cryogenic experiments, superconductivity studies, and cooling applications in fields such as physics, chemistry, and materials science. As research activities expand and become more sophisticated, there is a growing need for helium liquefiers capable of providing a consistent supply of liquefied helium in the 40-80 L/d range to support these endeavors.
  • By Application, Helium liquefiers are crucial components in various medical applications, primarily in the field of magnetic resonance imaging (MRI) machines, nuclear magnetic resonance (NMR) spectrometers, and particle accelerators used in medical research. MRI is a non-invasive imaging technique widely used for diagnosing medical conditions such as cancer, neurological disorders, and musculoskeletal issues. Helium liquefiers are integral components of MRI machines as they facilitate the cooling of superconducting magnets, which are essential for generating the magnetic field required for imaging.
  • By Region, The Asia Pacific region dominates the global helium liquefier market share, primarily due to its status as the leading consumer of helium. Within this region, several countries are prominent users of helium liquefiers. The expanding utilization of helium in the electronics sector is poised to fuel demand for these machines. Additionally, the rising application of liquid helium in diverse research and development endeavors is projected to bolster market growth. Furthermore, the increasing utilization of the product in cryogenics is anticipated to further advance market expansion.

Key Industry Development:

In October 2023, New Era Helium, a company focused on helium exploration and development, announced a Letter of Intent for a potential business combination with Accretion Acquisition Corp., a special purpose acquisition company (SPAC). This could indicate an upcoming merger within the helium industry, though not specifically for liquefier manufacturers.

The Helium Liquefier Market Segmentation:

By Type    

  • Below 40 L/d
  • 40-80 L/d
  • Above 80 L/d

By Application     

  • Research Institutes
  • Healthcare
  • University

For this report, Introspective has segmented the Helium Liquefier Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2024-2032)

North America

  • The U.S.
  • Canada
  • Mexico

Eastern Europe

  • Russia
  • Bulgaria
  • The Czech Republic
  • Hungary
  • Poland
  • Romania
  • Rest of Eastern Europe

Western Europe

  • Germany
  • UK
  • France
  • Netherlands
  • Italy
  • Spain
  • Rest of Western Europe

Asia Pacific

  • China
  • India
  • Japan
  • Singapore
  • Australia
  • New-Zealand
  • Rest of APAC

Middle East & Africa

  • Turkey
  • Saudi Arabia
  • Qatar
  • UAE
  • Israel
  • South Africa

South America

  • Brazil
  • Argentina
  • Rest of SA
Posted by  Aditya Joshi
Retina Graphics

An experienced market research analyst with a strong background in conducting both primary and secondary research across various industries. With 2 years of dedicated experience in Manufacturing and Construction, Chemicals and Materials, Energy and Natural Resources, Service Industry, Consumer Goods, Automotive and Transport, and other major domains, I have completed over 18 different projects using advanced research methodologies. My expertise lies in generating customized reports, as well as conducting customer & vendor satisfaction studies and brand perception analyses, and specializing in market, competitor, and supplier analysis. I am well-versed in employing strategic tools such as SWOT, PESTEL, and Porter’s Five Forces to derive valuable insights. Proficient in delivering research findings, I specialize in providing reports in various formats, whether customized or syndicated.