The Global Gas Spring is relatively small but growing rapidly, particularly in urban areas where there is high demand for efficient and sustainable transportation solutions. Many Gas Spring manufacturers have emerged in the market to cater to this growing demand, offering a range of models that vary in size, shape, and carrying capacity.
Global Gas Spring market is estimated to be valued at US$ 4,988.2 Mn by 2030.
Global Gas Spring Market: Drivers
Growing Demand for Gas Springs in Medical, Automotive, and Aerospace Industries
The increasing demand for gas springs in industries such as medical, automotive, and aerospace is anticipated to play a significant role in the market's growth. As a result, manufacturers of gas springs are concentrating on providing a diverse range of products to meet the specific needs of different industries. Gas springs, also referred to as mechanical springs, utilize compressed gas sealed within a cylinder and controlled by a sliding piston to apply external force. They find extensive application in the furniture industry, including office chairs, as well as in automobile struts to ensure a smooth handling of the tailgate.
Global Gas Spring Market: Opportunities
Sustainability and Energy Efficiency:
With increasing emphasis on sustainability and energy efficiency across industries, there is a growing demand for gas springs that are eco-friendly and energy-efficient. Manufacturers can capitalize on this trend by developing environmentally friendly gas springs or promoting the energy-saving benefits of their products.
Global Gas Spring Market: Restraints
Limitations of Repairing Damaged Gas Springs and Their Impact on the Market:
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 it cannot be repaired as repairing the gas spring is dangerous and can cause major accidents.
Market Trends
Increasing Emphasis on Safety and Compliance:
Safety considerations and compliance with industry standards and regulations are gaining prominence in the gas spring market. Industries such as automotive and aerospace have stringent safety requirements, and gas springs must adhere to these standards. Manufacturers are focusing on safety features, improved quality control processes, and ensuring compliance to meet industry expectations.
COVID-19 Impact Analysis:
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,
Global Gas Spring Market: Competitive Landscape
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
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/gas-spring-market-3029
Key Takeaways:
Global 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 CAGR of 6.6% between 2023 and 2030.
Global Gas Spring Market: Recent Developments
In February 2021, Industrial Gas Springs, Inc., a company that designs gas springs and damper products, announced the launch of the Counterbalance Configurator Tool that builds product recommendations as per the metrics provided by the user to build their application. The tool will provide simulation to build counterbalance applications with multiple gas spring solutions that will optimize product functionality.
In March 2020, TECAPRES, a company that manufactures gas spring, has been designated as the supplier of gas spring by Renault Automotive, a French automobile manufacturer. TECAPRESapproval of spring gas for Renault will promote and improve the sales of TECAPRES’ gas spring and help in the substantial growth of the company.
ACE Controls provides standard gas springs featuring an enhanced UV coating and stainless steel exteriors capable of being filled with food-grade oil that surpasses FDA standards.
