Gas Spring Market size by types, by application, by region, and forecast 201920

Posted by rohit on November 19th, 2020

Market Overview

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.

Global gas spring market generated revenue of US$ 2,487.4 million in 2017. By 2027, the gas spring market is expected to be valued at US$ 4,191.6 million with a CAGR of 5.6% over the forecast period. Gas spring damper segment in the market is expected to exhibit the highest growth during the forecast period. This segment was valued at US$ 603.3 Mn in 2018, and is expected to grow at the CAGR of 6.1% during the forecast period of 2019-2027.

Europe held the dominant position in the global gas spring market in 2017, and is projected to retain its dominance throughout the forecast period. The Asia Pacific gas spring market is expected to register the highest CAGR of 6.2% over the forecast period.

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Market Dynamics

Among types, 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.

Moreover, 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.

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.

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Major players operating in the global gas spring industry include Stabilus, HAHN Gasfedern GmbH (Stabilus GmbH), ACE Controls Inc. (Stabilus GmbH), 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, Barnes Group, Camloc Motion Control Limited, Metrol Springs Limited, and Lesjofors AB (Beijer Alma).

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rohit

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rohit
Joined: February 6th, 2020
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