Newly-released gas spring industry analysis shows that global demand enjoyed year-on-year (YoY) growth of 5.4% in 2021, to total 417,000 units. Demand for standard gas springs displayed growth of 4.4% to total 117,000 units, while demand for lockable gas springs was up 5.7% to 155,900 units.
Key Points Covered in Gas Spring Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Gas Springs and How to Navigate
- Recommendation on Key Winning Strategies
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Demand Analysis of Gas Springs from 2016 to 2020 Compared to Market Outlook for 2021 to 2031
As per the gas spring industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2016 to 2020, market value of the gas spring industry increased at around 4.6% CAGR, wherein, countries such as the U.S., Canada, China, Japan, Germany, and U.K. held significant share in the global market.
With growing exclusive customization focusing on customer-centric offerings, the market for gas springs is forecast to expand at a healthy CAGR of close to 10% over the coming 10 years.
- The healthcare segment saw soaring growth in 2020 with worldwide revenues up 7.6% year-over-year. Fact.MR estimates that revenue from the sales of gas springs will grow 2.6X from 2021 to 2031, reaching nearly US$ 9 Bn by 2031, with a ten-year compound annual growth rate (CAGR) of 10%.
- As per Fact.MR’s gas spring industry insights, global market revenue totaled US$ 3 Bn in 2020.
- Demand for hydraulic gas spring dampers for industrial application especially will accelerate at the highest pace.
- Top 5 providers of gas springs held 39% market share in 2020.
- Global shipments of gas springs are expected to increase 5.4% in 2021 to total 417 thousand units.
- While demand was impacted by COVID-19, over the decade, long-term forecasts look good, especially for lockable gas springs.
Why is Demand for Gas Springs Rapidly Increasing?
Customers are able to use customize gas springs by selecting their desired output power, end fittings, and other mechanisms. Mechanical springs don't usually have this degree of customization. Instead, businesses are limited to only a few simple mechanical spring designs to make choice. Gas springs come in a wide range of designs, each with their own set of features.
Adding to that, to protect against corrosion in food or hygienically sensitive areas, leading gas spring manufacturers offer rust-inhibiting versions of their regular models. For instance, standard gas springs with an advanced UV coating, are available from ACE Controls, as well as stainless steel outer bodies that can be filled with food-grade oil and meet FDA requirements.
Based on customization requirement proposed by consumers, manufacturers are able to deliver flexible solution with necessary dimensions and attributes empowering the customers and adding revenue to market players.
Avail customized purchase options for your needs
How is Robust Lifecycle Aiding Market Growth of Gas Springs?
Gas springs are manufactured using the most up-to-date techniques. The Pressure Equipment Directive PED 97/23 EG is used as a reference point and is taken into consideration. Generally offered worldwide warranty on gas springs includes 2,000,000 strokes up to a stroke of 50 mm, maximum service life of 10 years mandatory required by law.
Possessing such high-end durability provides core competence to manufacturers to shine in the market. Improved reliability and extended threshold mechanical characteristics have proven to become the guiding light for sustainable market growth.
What are the Key Challenges Faced by Gas Spring Manufacturers?
According to DGRL97/23/EG, gas springs must be designed, manufactured, and tested for 2 million full strokes. Regional and small-scale manufacturers face difficulties keeping up with these standards and regulations. Scope for innovation and product modification shrinks and the spectrum for development is limited with such stringent regulations.
There lies constraints for mass production of customized gas springs, wherein, flexibility available with manufacture is at the lower side. As the manufacturing process is complex, turnaround time is high due to variation in the force and gas spring dimension. This serves as a potential restraint for manufacturers to make the most out from their capabilities, wherein, mass production is not feasible for customized products.
Demand from the aftermarket is rising hand-in-hand with customized gas springs, eliminating the mass production benefits of manufacturers.
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Why is the U.S. a Prominent Market for Gas Springs?
During the historical period of 2016-2020, the U.S. market for gas springs expanded at a promising pace of 4.1% CAGR. Use of gas springs with advanced locking and damping systems across the healthcare sector and aerospace applications is poised to provide immense opportunity in the short- to medium-term duration.
Furniture retail is a vital part of the economy in the United States. The U.S. home goods industry encompasses the development, distribution, and retail of home furniture, decorative accessories, and office equipment. This is enabling relative growth for gas springs, as demand for furniture is mounting.
In addition, the United States spends the most on healthcare, with an average of US$ 10,224 per capita, which is twice as much on healthcare as other nations, and bodes well for gas spring demand.
What Makes China the Growth Epicentre for Gas Springs?
The gas spring market in China is expected to grow 2.9X and be valued at around US$ 605 Mn in 2031, at a promising CAGR of 11.3% over the forecast period.
China, commonly known as the manufacturing hub of the world, is poised to canon the market over the decade. This is due to extensive manufacturing cluster establishment within the country, which is staring with optimism for implementation of gas springs in the healthcare, automotive, and automation sectors.
China has the highest population in the world, wherein, urbanization is rapidly leading to increased consumer spending on housing and comfort furniture, boosting demand for gas springs in the country.
Will Demand for Gas Springs Continue Increasing in Germany?
Germany is the one of the prominent markets for gas spring systems, accounting for close to 25% market share of Europe, and is poised to expand at a CAGR of around 10.5% through 2031.
Germany is Europe's leading car manufacturer, with a market share of 52% in Western Europe and 31% in the EU. The automotive industry employs over 820,000 people and nets approximately 430 billion euros per year. To improve the safety and comfort of cars in the future, the industry will continue to expand by embracing all technological developments, focusing on sustainable mobility, vehicle connectivity, and e-mobility.
How Big is the Opportunity for the Aftermarket of Gas Springs?
The aftermarket sales channel of gas springs is poised for rapid gains at 10.6% CAGR, as the replacement rate of mechanical springs with gas springs and spare parts for the automotive and aerospace industry has been showing an upward trend.
Looking at the current scenario of digitalization, aftermarket customers have shifted to online channels for purchasing of gas springs, particularly for furniture and household equipment. There lies a pool of opportunity for manufacturers to reform their business strategy, and take advantage of online channels while integrating them with conventional channels for better business development.
Manufacturers are developing more robust sales channels to avoid margin leakage, and aftermarket channel optimization is driving optimistic growth.
What is the Potential of Gas Springs in Home and Office Equipment?
Sales of gas springs for use in home and office equipment are set to increase at over 11% CAGR through 2031.
Users expect the highest degree of reliability, ease of use, and comfort, which is the only standard regardless of the size or weight of furniture. Flexible modification of all moving parts is critical from an ergonomic standpoint. This helps users unwind after a long day.
Custom requirements from the ageing population for their comfort is the talk of the town, and has become a vital element driving the use of gas springs in furniture.
How Has COVID-19 Impacted Demand for Gas Springs?
During the pandemic situation, there has been substantial rise in demand for beds and hospital equipment. This represented an opportunity in disguise, enabling manufactures to divert their existing inventory to the medical sector when other industries were shut down.
There was explicit rise in the number of hospitals and isolation centers for tackling COVID-19, which elevated demand for gas springs, and this effect is expected to continue over the short- to medium-term until the pandemic effect lasts.
On the other hand, decreased demand and fluctuating industrial output have negatively impacted the market from other end-use industries with a drop of US$ 6.5 Mn and Y-o-Y decline of -1.7% in 2020. However, it is anticipated that, industrial output will rekindle its previous size by the third quarter of 2021, and so will gas spring demand over the coming years.
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- ADB SAFEGATE, Stabilus GmbH, Beijer Alma, Barnes Group, Suspa GmbH, BANSBACH EASYLIFT, Camloc, Dadco, Special Springs, DICTATOR Technik GmbH, Pascal Engineering, Tecapres, and Showa Corporation are identified as key players manufacturing gas springs.
Aforementioned players rely on a blend of organic and inorganic strategies to increase penetration across lucrative markets. These strategies include new product launches, collaborations and partnerships with prominent players in automotive, healthcare and aerospace industry, acquisitions of emerging players, and strengthening of regional and global distribution networks.
- In 2020, TECAPRES has been named as a supplier of gas springs for Renault Automotive. TECAPRES has been striving to achieve the highest standards of quality and service demanded by the automotive industry. This supplier agreement would boost the sales of TECAPRES and provide substantial growth in the market share.
- In 2019, Stabilus, a global leader in gas springs, damping systems, and electromechanical drives for motion control, has acquired General Aerospace GmbH ('General Aerospace'), a well-known provider of motion control solutions for the aerospace industry. This advancement would harness the gas spring business development in aerospace industry.
- In 2018, Industrial Gas Springs Group Holdings Limited, a recognised designer, maker, and supplier of customised gas springs, was acquired by Barnes Group Inc., a multinational distributor of highly engineered goods and differentiated industrial technologies.
Similarly, recent developments related to companies manufacturing gas springs have been tracked by the team at Fact.MR, which is available in the full report.
Gas Spring Market Report Scope
Historical Data Available for
|US$ Mn for Value, Mn Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Market Segments Covered
- Gas Springs
- Lockable Gas Springs
- Standard Gas Springs
- Hydraulic Gas Spring Dampers
- Friction Gas Spring Dampers
- Gas Springs
- Below 250 N Gas Springs
- 251 – 500 N Gas Springs
- 501 – 750 N Gas Springs
- 751 – 1000 N Gas Springs
- Above 1000 N Gas Springs
- Horizontal Gas Springs
- Vertical Gas Springs
- Vertical Rod Up Gas Springs
- Vertical Rod Down Gas Springs
- Custom Orientation
Maximum Stroke Length
- <75 mm Gas Springs
- 76 - 150 mm Gas Springs
- 151 - 300 mm Gas Springs
- 301 - 450 mm Gas Springs
- >450 mm Gas Springs
- OEM Sales of Gas Springs
- Aftermarket Sales of Gas Springs
- Gas Springs for Automotive
- Gas Springs for Aerospace, Marine & Rail
- Gas Springs for Home and Office Equipment
- Gas Springs for Industrial Machinery & Automation
- Gas Springs for Healthcare
Gas spring market- Scope of Report
A recent study by Fact.MR on the gas spring market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing and distribution of gas springs.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing gas springs, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of gas springs across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of gas springs during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The gas spring market has been analyzed for each market segment in terms of volume (Mn Units) and value (US$ Mn).
Market estimates at global and regional are available in terms of “US$ Mn” for value and in “’Mn Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.
Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global gas spring market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on demand for gas springs has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis of Competition
The report sheds light on the leading manufacturers of gas springs, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of gas springs has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the gas spring market.
- FAQs -
The global gas spring market is worth more than US$ 3 Bn at present.
Sales of gas springs are projected to increase at a CAGR of over 10% during 2021 – 2031.
Value sales of gas springs increased at a CAGR of 4.6% during 2016 – 2020.
Increasing use case in motion & mobility across vivid domains is a key trend being observed in the market.
Replacement of mechanical spring systems with gas springs stands as the core driver for the market.
Top 5 manufacturers of gas springs account for around 39% share in the market.
Top 5 countries driving demand for gas springs are the U.S., Canada, China, Japan, and Germany.
Europe accounted for over 27% of global gas spring demand in 2020.
The North American market for gas springs is projected to expand at a CAGR of more than 9.5% during 2021 – 2031.
The United States, Germany, and China are key producers of gas springs.
The market in South Korea and Japan will expand at over 9.5% CAGR, with both countries together accounting for close to 50% share in the East Asian market.
Prominent players manufacturing gas springs include Stabilus GmbH, Beijer Alma
Barnes Group, Suspa GmbH, Bansbach Easylift, Camloc, Dadco, Special Springs, and DICTATOR Technik GmbH.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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