Gas Spring Market: Overview
Automotive gas springs demand continues to be impacted by fluctuations in automobile sales as COVID-19 ravages economies around the globe.
However, the long-term outlook on the market remains bullish, as many countries are recovering from the crisis.
Automotive gas spring manufacturers are focusing on making lightweight and compact design products, this is in sync with the broader goal of end-users to save energy.
Gas Spring Manufacturers: Key Developments
Manufacturers are focusing on certification from environmental bodies. Certification from environmental bodies usually helps in presenting a favourable brand image to end-users.
For instance, Stabilus, a key industry player, is focusing on environmentally-friendly operations.
As end-users are now showing a marked preference for companies that care about the environment, Stabilus has worked upon getting certified according to standards.
The company is DIN EN ISO 5000, DIN ISO 1400, and DIN ISO 9001 certified, and is also RoHS compliant.
Businesses in the gas string sector undergo mergers and acquisitions to increase market share and revenues.
Gas spring manufacturers make acquisitions to improve their R&D and gain access to global markets.
For instance, Barnes Group, a global provider of highly engineered products, focusing on innovative custom solutions, has acquired IGS (Industrial Gas Springs Group Holdings Limited).
As part of the Nitrogen Gas Products strategic business unit, IGS will operate under Barnes's Industrial Segment. This will cater to different end users like medical, general, aerospace and industrial sectors.
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Gas Spring Market: Introduction
The evolution in the residential and automotive sectors has led to higher acceptance of equipment such as gas spring that are used for opening, lifting, closing, adjusting and positioning applications in varied fields.
A gas spring is a type of spring other than typical mechanical spring that generally relies on elastic deformation.
It uses compressed gas contained within a walled cylinder closed by a sliding piston to store potential energy and endure external force applied parallel to the direction of the piston shaft.
Gas springs are expected to emerge as an important equipment in the near future and will be used in various applications including furniture, automotive, medical, industrial, etc.
Different types of gas spring are available based on need including lockable gas spring, lift gas spring, swivel chair gas spring, non-lockable gas spring, damper and gas traction spring.
More recently, gas springs have been perceiving a heave in demand in the automotive and industrial applications. Gas springs are mostly used in the automotive industry to adjust passenger seats and for opening & closing of dicky and bonnet.
Gas Spring Market: Drivers
Ever growing end-use industries, such as automotive, aerospace, marine, medical, etc., both in developing and developed economies is expected to be the prime factor responsible for the growth of the global gas spring market over the forecast period.
Moreover, gas spring handles heavy objects with ease as compared to mechanical springs. This is also anticipated to give traction to the growth of gas spring market in the coming decade.
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A major trend anticipated five years down the line involves market leaders both dedicated manufacturer and OEMs are focusing on research and development activities to develop innovative and efficient products.
Moreover, the market of gas spring is highly fragmented with presence of several global and regional players.
Hence, the manufacturers are offering customized gas springs based on customer demands.
Geographically, the global gas spring market is segmented into North America, Western Europe, Eastern Europe, Latin America, South East Asia-Pacific, Japan, China, India and the Middle East & Africa.
The regional demand dynamics is directly connected with the demand from the end-use industries.
Over the forecast period, Asia Pacific is expected to be closely followed by North America.
Both of these markets are anticipated to witness enormous growth in the gas spring market due to the estimated growth in the automotive sector in emerging economies, such as the India, China and U.S.
Western Europe is estimated to grow at a substantial CAGR during the forecast period owing to upsurge in demand for gas spring in the growing industrial sector in the region.
Latin America is expected to grow at a substantial CAGR during the forecast period owing to growth of end-use industries in the region.
Examples of some of the key participants identified across the value chain of the global gas spring market include:
- Stabilus GmbH
- Industrial Gas Spring, Inc.
- SUSPA GmbH
- IDEAL Gas Spring Pvt. Ltd.
- Barnes Group Ltd.
- Dictator Technik GmbH
- Bansbach Easylift GmbH
- Aritech Gas Spring
- ACE Controls Inc.
- Shunde Huayang Gas Spring Co., Ltd.
- Metrol Spring Limited
- AVM INDUSTRIES
- WAN DER FUL CO., LTD.
- Ameritool Manufacturing Inc.
- ChangZhou LongXiang Gas Spring Co., Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to market segments such as geographies, application and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Gas Spring Market: Segmentation
The global gas spring market can be segmented on the basis of type and application.
Based on type, the global gas spring market is segmented into:
- Lockable Gas Spring
- Lift Gas Spring
- Swivel Chair Gas Spring
- Non-lockable Gas Spring
- Gas Traction Spring
Based on application, the global gas spring market is segmented into:
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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