A gas spring is a device that is used to compress gas contained inside a closed system. Gas springs are widely used in automobiles, medical, and aerospace applications. The advantages of gas spring are their low maintenance, easy operability, compact and low cost.
Lift gas springs are used in various applications which include industrial & agricultural equipment, adjustable chairs, photo copier covers, lids & access panel covers, travel and cargo trailers, and automotive hood props. Hence, key players are focusing on offering new gas springs to expand their product portfolio. For instance, in September 2017, Meusburger Georg GmbH & Co KG, an Austria-based company, announced the 'E 6350 Gas' spring-force in order to expand its range of gas springs. The E 6350 is characterized by high initial forces and a compact design. These factors are contributing to increasing demand for lift gas springs in the global gas springs market.
Recent Developments:
Restraint:
Once damaged gas spring can be replaced but cannot be repaired. This factor can restrain the growth of the global gas spring market. The reason why gas springs cannot be repaired is because the loss of force is caused by seal damage. If the seal is damaged they cannot be repaired as repairing the gas spring is dangerous and can cause major accidents.
Global Gas Spring Market- Impact of Coronavirus (Covid-19) Pandemic:
The spread of the COVID-19 has had an impact on people and businesses across the globe. Lockdowns were imposed across the globe. This disrupted the world economy as businesses were either shutdown or operated partially. This also impacted the business of gas springs as all the industries such as automotive, furniture, aerospace, healthcare use gas springs in various applications. This decline in demand in all these sectors also declined the demand for gas springs and hence global gas spring market witnessed slow growth during the pandemic.
North America held a dominant position in the global gas spring market in 2021
Statistics:
North America held a dominant position in the global gas spring market in 2021, accounting for 34.0% share in terms of market share, followed by Europe and Asia pacific region.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 2,893.17 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 7.5 % | 2030 Value Projection: | US$ 5,457.92 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Stabilus GmbH, HAHN Gasfedern GmbH, ACE Controls Inc., Suspa GmbH, LANTAN gas spring Co., Ltd., WAN DER FUL CO., LTD., Bansbach Easylift, Dictator Technik GmbH, Changzhou JuTeng Gas Spring Co., Ltd., Vapsint S.R.L., Shunde Huayang Gas Spring Co., Ltd., AVM Industries, Gemini Gas Springs Inc., Alrose Industrial Technologies Pvt. Ltd, Barnes Group, Camloc Motion Control Limited., Metrol Springs Limited, Lesjofors AB (Beijer Alma) |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 1: Global Gas spring Market Share (%), By Region, 2021
North America is expected to hold a dominant position, over the forecast period. There is great demand for renovation and residential projects in North America. The rising disposable income and improved living standards of people is enticing people to renovate their houses or buy new houses. This increases the demand for furniture and gas springs are used in kitchen and home furniture on large scale. Hence, the demand for gas springs is expected to show significant growth in the forecast period.
Europe is one of the leading regions in the global gas spring market, and is expected to show positive growth in the near future owing to technological advancements such as dynamic damping that was introduced for automotive applications. For instance, in May 2017, Stabilus S.A. introduced advanced technology and innovation in dampers, electro-mechanical drives, and gas springs for motion control in various end-use industries. According to the European Automobile Manufacturers Association, in 2018, 19.2 million motor vehicles were produced in the European Union. The growth of the gas spring market is attributed to increasing application of gas springs in the automobile industry such as suspension, hoods, doors, and others. Furthermore, demand for gas springs is also increasing owing to rising application in the furniture industry, owing to increasing focus by gas spring manufacturers on expanding their product portfolio.
Lift gas spring Segment is expected to drive the Global Gas Spring Market growth during the forecast period.
Among type, the lift gas spring segment dominated the gas spring market in 2017, and is projected to retain its dominance throughout the forecast period. Lift gas springs are energy storage and non-lockable elements, and have hydro-pneumatic rams which can be charged under pressure with inert gases such as nitrogen. The high pressure nitrogen gas exerts equal pressure on surfaces having different cross-sectional piston areas, which in turn, produces a force in the moving direction. The generated force is directly proportional to the charging pressure and piston rod diameter. The lift gas spring makes opening or lifting operations very convenient, thereby eliminating the actual weight of the object to zero or negligible.
Figure 2: Global Gas Spring Market (US$ Mn) Analysis and Forecast, 2018 - 2030
Global gas spring market was valued at US$ 2,893.17 Mn in 2021 and is expected to reach US$ 5,457.92 Mn by 2030, growing at a CAGR of 7.5% between 2022 and 2030.
Major players operating in the global gas spring market include Stabilus GmbH, HAHN Gasfedern GmbH, ACE Controls Inc., Suspa GmbH, LANTAN gas spring Co., Ltd., WAN DER FUL CO., LTD., Bansbach Easylift, Dictator Technik GmbH, Changzhou JuTeng Gas Spring Co., Ltd., Vapsint S.R.L., Shunde Huayang Gas Spring Co., Ltd., AVM Industries, Gemini Gas Springs Inc., Alrose Industrial Technologies Pvt. Ltd, Barnes Group, Camloc Motion Control Limited., Metrol Springs Limited, Lesjofors AB (Beijer Alma)
A gas spring is a particular type of spring which is framed by a steel cylinder containing gas which is compressed by a piston to exert the force. Features of a gas spring include better wear resistance, corrosion resistance, and lower frictional attributes. Moreover, the process of construction of gas springs is non-toxic and environment friendly.
Market Drivers
Rising demand for gas springs in industries such as medical, automotive, and aerospace is expected to be a major contributing factor to the growth of the market. Therefore, gas spring manufacturers are focusing on offering a wide variety of gas springs to cater to requirements of end-use industries. Gas springs are also known as mechanical springs that use compressed gas which is enclosed within a cylinder and sealed by a sliding piston, in order to apply external force. This is widely used in the furniture industry in applications such as in office chairs, and are also incorporated in struts of automobiles to for smooth handling of the tailgate.
Industrial gas spring manufacturers are also assisting furniture design companies by providing the compatible gas spring solution used for application in their products. Also, manufacturers are focusing on offering customized gas spring solutions for end-use industries in order to expand their consumer base. Compression gas springs, tension gas springs, and adjustable locking gas springs are widely used in the furniture industry, which, in turn, is expected to boost demand for gas springs across the globe.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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