GAS SPRING MARKET ANALYSIS

Global Gas Spring market is estimated to be valued at US$ 4,988.2 Mn by 2030.

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, compactness, and low cost. Lift gas springs are used in various applications which include industrial & agricultural equipment, adjustable chairs, photocopier covers, lids & access panel covers, travel and cargo trailers, and automotive hood props

Global Gas Spring Market: Regional Insights

North America held a dominant position in the global gas spring market in 2022, accounting for 35.7% share in terms of market share, followed by Europe and Asia Pacific region.

Figure 1: Global Gas Spring Market Share (%), By Region, 2022

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North America is expected to hold a dominant position in the global gas spring market 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 are 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 a large scale. Hence, the demand for gas springs is expected to show significant growth during 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

Global Gas Spring Market - Impact of Coronavirus (COVID-19) Pandemic

The spread of 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, and 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

Global Gas Spring Market- Drivers:

Rising demand of Gas Spring

The growth of the gas spring market is expected to be significantly influenced by the increasing demand for gas springs in various industries, including medical, automotive, and aerospace. Manufacturers of gas springs are focusing on expanding their product offerings to meet the specific requirements of these industries. Gas springs, also known as mechanical springs, utilize compressed gas enclosed within a cylinder and sealed by a sliding piston to apply external force. They find extensive use in the furniture industry, particularly in office chairs, and are also incorporated in automobile struts to ensure a smooth handling of the tailgate.

In January 2021, ASRaymond announced the launch of thousands of new Gas Springs to their extensive catalog portfolio. The standard parts product line consists of pre-engineered Gas Springs, often referred to as Gas Struts or Gas Shocks, to suit a variety of applications. Now with more than 12,000 Standard Gas Springs

Injury Risk Reduction and Space Optimization

Utilizing furniture gas springs provides several notable advantages, including a significant reduction in the risk of injury. Moving heavy objects can be a difficult task, often leading to injuries for individuals attempting to lift or transport them. By incorporating gas springs, the force required to lift and lower these items is greatly diminished, effectively mitigating the risk of injury.

Furthermore, furniture gas springs offer a substantial space-saving benefit. By integrating gas springs into furniture design, it becomes possible to optimize space utilization, making it ideal for compact living spaces like small apartments or homes with limited room. Additionally, this design feature contributes to a cleaner and tidier environment around the furniture, as there is no need to rearrange or move items for cleaning or sweeping purposes.

In March 2023, Shanghai Temax Co., Ltd. is a leading manufacturer and supplier of furniture gas springs. Designed furniture gas springs that are easy opening and closing of furniture, cabinets, and lift up beds. With the help of these gas springs, users can easily lift and lower heavy items without exerting too much force.

Global Gas Spring Market- Opportunities:                      

Growing Demand in Automotive Industry:

The automotive industry presents a significant opportunity for the gas spring market. Gas springs find extensive usage across diverse automotive applications, including tailgates, hoods, and trunk lids. With the increasing production and sales of vehicles worldwide, there is a growing demand for gas springs to enhance the functionality and convenience of automobile components.

Demand in Aerospace and Defense            

Gas springs are utilized in various aerospace and defense applications, including aircraft seats, cockpit canopies, weapon systems, and cargo compartments. The aerospace industry is experiencing growth due to increasing air travel and defense investments, presenting opportunities for gas spring manufacturers.

Global Gas Springs market was valued at US$ 3,000.0 Mn in 2022 and is forecast to reach a value of US$ 4,988.2 Mn by 2030, exhibiting a CAGR of 6.6% between 2023 and 2030.

Global Gas Spring Market- Trends:

Adoption of Lightweight Materials

Lightweight materials, such as aluminum and composite alloys, are gaining popularity in the gas spring industry. These materials offer advantages such as reduced weight, improved fuel efficiency (in automotive and aerospace applications), and corrosion resistance. Manufacturers are focusing on developing gas springs using lightweight materials to cater to these market demands.

Increasing Adoption of Automation and Robotics The adoption of automation and robotics in various industries is driving the demand for gas springs. These applications require precise and reliable motion control, and gas springs play a vital role in achieving smooth and controlled movements. As automation and robotics continue to expand, the gas spring market is expected to grow correspondingly.

Global Gas Spring Market- Restraints:

Competition from Alternative Technologies

Gas springs face competition from alternative technologies that offer similar functionality. For example, hydraulic systems, mechanical springs, and electric actuators can sometimes be viable alternatives depending on the application requirements. The availability of alternative technologies can pose a challenge to the gas spring market, especially if they offer cost advantages or better performance in specific applications.

Limited Temperature Range

Gas springs typically have a limited temperature range within which they can operate effectively. Extreme temperatures, whether extremely high or low, can affect the performance and lifespan of gas springs. Industries that operate in harsh environments, such as automotive, aerospace, and heavy machinery, may require specialized gas springs designed to withstand extreme temperatures, adding complexity and cost to the solution.

Figure 2: Global Gas Spring Market Share (%), By Type, 2022

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Global Gas Spring Market- Segmentation:

Global Gas Spring market report is segmented into type and Application

By Type: Lift Gas Spring, Lockable Gas Spring, Swivel Chair Gas Spring, Gas Traction Spring, Gas Spring Damper, Others

By Application: Aerospace, Automotive, Medical, Industrial, Furniture, Others

The use of gas springs in the aerospace industry has been significant, providing numerous applications for aircraft systems and components. Gas springs are utilized in aircraft access doors and hatch to assist in their opening and closing operations. These springs provide controlled and smooth movements, ensuring efficient access during maintenance, inspection, and boarding processes.

Gas springs are extensively used in automotive hoods and trunks to assist in their opening and closing operations. They provide controlled and smooth movement, ensuring ease of use and improved safety.

Gas springs are widely used in medical equipment for height adjustment functions. This includes adjustable beds, medical chairs, operating tables, examination tables, and dental chairs. The demand for ergonomic and customizable medical equipment has driven the market for gas springs in this segment.

Gas springs are used in industrial machinery and equipment for tasks such as lifting, counterbalancing, and adjusting. These applications include industrial presses, assembly lines, packaging machines, material handling equipment, and robotic systems. The demand for efficient and precise machinery operations has contributed to the market

Gas springs are widely used in office furniture, including office chairs, height-adjustable desks, and monitor stands. Gas springs provide smooth height adjustment, recline functions, and ease of movement, enhancing ergonomic comfort and productivity in the workplace. The growing focus on employee well-being and ergonomics has contributed to the market for gas springs in by type segment.

Global Gas Spring Market: Key Companies Insights

Global Gas Springs market is highly competitive, owing to the rising launch of new technologies due to ongoing R&D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on a regional as well as global basis. Some of the key players in the Global Gas Springs market are 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), and Others

*Definition:

A gas spring, also known as a gas strut or gas lift support, is a mechanical device that uses compressed gas (typically nitrogen) contained within a cylinder to provide controlled and reliable motion in a variety of applications. It consists of a cylinder filled with high-pressure gas and a piston that moves within the cylinder. The gas spring is designed to generate a specific amount of force, which can be adjusted based on the application requirements.