Helium Compressors Market Size, Share, Growth, and Industry Analysis, By Type (Air-Cooled and Water-Cooled), By Application (General Industry, Gas Industry, Universities and Research Institutes and Others), and Regional Forecast to 2028

Updated On: 15 April 2024

helium compressors market REPORT OVERVIEW

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The global helium compressors market size was 51 million in 2022 and is expected to reach USD 63 million by 2028, exhibiting a CAGR of 3.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with helium compressors experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Helium compressors are specialized machines designed to compress and pressurize helium gas. Helium is a unique gas known for its low boiling point and various applications, including cryogenics, cooling, and scientific research. Helium compressors are essential in industries and research facilities where high-pressure helium is required. Helium prices can be subject to significant fluctuations due to supply and demand dynamics. This volatility can influence the helium compressors market as users seek more efficient compression solutions to mitigate the impact of price fluctuations.

Helium compressors are used to pressurize helium gas for applications involving low-temperature environments, such as superconducting magnets in MRI machines, particle accelerators, and cryogenic storage systems. The aerospace industry uses helium compressors for rocket propulsion and cooling systems in spacecraft and launch vehicles. Helium is used in the production of semiconductors and other electronics components, and compressors are required to pressurize helium for these processes. Helium compressors are used in healthcare settings, particularly in MRI machines, where helium is used to cool superconducting magnets.

COVID-19 IMPACT: Medical and Healthcare Demand to Boost Demand Significantly

COVID-19 had a life changing impact globally. The helium compressors market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for helium compressors experienced an increased demand.

The pandemic disrupted global supply chains, leading to delays in the production and delivery of helium compressors. Many manufacturers depend on components and raw materials sourced from various countries, and lockdowns, travel restrictions, and factory closures hindered the supply chain's efficiency. The helium market experienced price volatility during the pandemic due to disruptions in supply chains and changes in demand. This volatility could have affected the decisions of end-users and investors in the helium compressors market.

The COVID-19 pandemic put immense pressure on healthcare systems globally. Helium compressors are crucial components in medical equipment, particularly in MRI machines. As hospitals and healthcare facilities were overwhelmed with COVID-19 patients, there was an increased need for medical equipment, including MRI scanners, to diagnose and treat various medical conditions. This surge in demand for medical equipment likely led to increased demand for helium compressors. The pandemic accelerated research efforts into understanding the virus and developing vaccines and treatments. Many research institutions and pharmaceutical companies relied on superconducting magnets in research equipment like NMR spectrometers and MRI machines, which require helium cooling. The heightened research activity may have driven up the demand for helium compressors. The market is anticipated to boost the helium compressors market share following the pandemic.

LATEST TRENDS

"Technological Advancements to Broaden Market Growth"

Continuous innovation in compressor technology has been a consistent trend. Manufacturers may have developed more energy-efficient and environmentally friendly helium compressors, incorporating advanced materials and designs to improve performance. There has been a growing demand for oil-free helium compressors, particularly in applications where helium purity is crucial, such as semiconductor manufacturing and scientific research. Manufacturers may have expanded their offerings in this area.

The integration of digital technologies and the Internet of Things (IoT) into compressor systems can provide real-time monitoring, predictive maintenance, and optimization capabilities. This trend could enhance the efficiency and reliability of helium compressors. These latest developments are anticipated to boost the helium compressors market share.

helium compressors market SEGMENTATION

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• By Type

Based on type, the market is divided into Air-Cooled and Water-Cooled.

• By Application

Based on application, the market is bifurcated into General Industry, Gas Industry, Universities and Research Institutes and Others.

DRIVING FACTORS

"Growing Demand for Helium in Various Industries to Boost Market Share"

The primary driver for the helium compressors market is the increasing demand for helium gas in various industries. This includes applications in healthcare (such as MRI machines), aerospace (rocket propulsion and cooling systems), electronics manufacturing, and scientific research (cryogenics). As these industries expand, the need for helium compressors also grows. The healthcare sector remains a major driver, particularly for MRI machines. MRI machines require a constant supply of helium for cooling superconducting magnets. As healthcare facilities continue to expand, so does the demand for helium compressors in this sector. The aerospace industry, including space exploration, relies on helium compressors for various applications, such as rocket propulsion and cooling systems. As space exploration activities increase, it drives the demand for helium compressors.

"Environmental Concerns to Boost Market Share"

Sustainability and environmental considerations are becoming more critical in the helium industry. Compressor manufacturers are developing systems that reduce helium loss during compression and improve energy efficiency, addressing both economic and environmental concerns. The focus on energy efficiency in industrial processes encourages the adoption of energy-efficient helium compressors to reduce operating costs and environmental impact. These factors are anticipated to drive the helium compressors market share.

RESTRAINING FACTORS

"Helium Supply and Price Volatility to Hamper Market Share"

One of the most significant restraining factors is the finite supply of helium. Helium is a non-renewable resource, and its availability can be subject to geopolitical, economic, and supply disruptions. Price volatility in the helium market can affect the demand for helium compressors, especially in industries sensitive to helium pricing. Helium compressors, especially those designed for specialized applications such as high-pressure cryogenics or ultra-high-purity helium can be expensive. High initial investment costs may deter potential buyers, particularly small and medium-sized enterprises (SMEs). The factors are anticipated to hinder the helium compressors market growth.

helium compressors market REGIONAL INSIGHTS

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"North America Dominates the Market with High Industrial Demand"

North America, especially the U.S. has a diverse economy with substantial demand for helium across various industries, including healthcare (for MRI machines), aerospace (for rocket propulsion), electronics manufacturing, and scientific research (for cryogenics). The presence of a wide range of industries drives demand for helium compressors. The U.S. aerospace and defense industries have significant demand for helium compressors for applications like rocket propulsion and cooling systems for military and civilian space programs.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Sauer Compressors [Germany]
• Bauer Kompressoren [Germany]
• SIAD Macchine [Italy]
• Greenfield [Czech Republic]
• Mayekawa [Japan]
• High Air [Turkey]

REPORT COVERAGE

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 and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.