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    Gas Spring Market Report

    Gas Spring Market Report
    Report code - SRCG269 Delivery - 2 Weeks
    Global Gas Spring Market, Trends, Dynamics, Growth & Forecast Analysis: 2022-2028
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    Market Analysis

    The Global Gas Spring Market is estimated to grow from USD 2.65 Billion in 2021 to USD 3.79 billion by 2028 at a healthy CAGR of 5.17% during the forecast period.

    Market Dynamics

    Significantly growing end-use sectors such as aerospace, medical, automotive, etc. in developed and emerging countries is a key factor propelling the market growth.

    • Further, gas spring handles heavy objects with ease as compared to mechanical springs, which gives traction to the product demand.
    • These springs use compressed gas which is enclosed within a cylinder and is sealed by a sliding position, in order to apply external force.
    • The gas springs are generally corrosion-resistant, but it is not friendly to be used in environments with constant damp load, thus hindering the product consumption.

    What is a Gas Spring?

    Gas spring is a particular type of spring that is generally framed with a steel cylinder containing glass that is compressed by a piston to exert the force. The gas spring exhibits better corrosion and wears resistance along with lower frictional attributes. Also, the process of construction of gas springs is eco-friendly and non-toxic.

    Key Players

    Key players operating in the market are-

    • Stabilus (Luxembourg),
    • HAHN Gasfedern GmbH (Germany),
    • ACE Controls Inc. (The U.S.),
    • Suspa GmbH (Germany),
    • LANTAN gas spring Co., Ltd. (China),
    • WAN DER FUL CO., LTD. (China),
    • BANSBACH EASYLIFT (Germany),
    • DICTATOR Technik GmbH (Germany),
    • Changzhou JuTeng Gas Spring Co., Ltd. (China),
    • VAPSINT s.r.l. (Italy),
    • Shunde Huayang Gas Spring Co.,Ltd. (China), and
    • AVM INDUSTRIES (The U.S.).

    Segmentation

    Application Trends

    The gas spring market has been categorized into aerospace, automotive, medical, industrial, furniture, and others.

    Among these, the automotive segment witnessed the largest market share in 2021. This is mainly attributed to surging demand for gas springs in the automotive and industrial applications to adjust passenger seats and for closing & opening of bonnet and dicky.

    Regional Trends

    The Asia Pacific market held a substantial share which is followed by North America.

    • Both the regional markets are likely to witness robust CAGR in the gas spring market owing to strong automotive and industrial sectors in China, India, Japan, and the US.
    • The Western Europe market is projected to register a healthy CAGR due to robust automotive base and presence of leading automobile manufacturers in Germany and the UK.

    COVID-19 Impact on Global Gas Spring Market

    The outbreak of coronavirus has adversely affected various industries such as automotive, aerospace, and other industrial sectors. As automotive is a key application segment of gas springs, and declining sales of lightweight and commercial vehicles have directly affected the demand for gas springs demand.

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert -

    • Gas spring vendors
    • Gas spring retailers
    • Automotive companies
    • Aerospace companies
    • Furniture companies
    • Industrial sector retailers
    • Transportation companies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The market is estimated to grow from USD 2.65 Billion in 2021 to USD 3.79 billion by 2028.

    Stabilus (Luxembourg), HAHN Gasfedern GmbH (Germany), ACE Controls Inc. (The U.S.), Suspa GmbH (Germany), LANTAN gas spring Co., Ltd. (China), WAN DER FUL CO., LTD. (China), BANSBACH EASYLIFT (Germany), DICTATOR Technik GmbH (Germany), Changzhou JuTeng Gas Spring Co., Ltd. (China), VAPSINT s.r.l. (Italy), Shunde Huayang Gas Spring Co.,Ltd. (China), and AVM INDUSTRIES (The U.S.) are the key players in the market.

    The gas spring market is expected to witness an impressive CAGR of 5.17% in the coming years.

    The Western Europe is expected to register a healthy CAGR in the market over the next five years.

    The automotive segment witnessed the largest market share in 2021.

    Gas spring vendors, Gas spring retailers, Automotive companies, Aerospace companies, Furniture companies, Industrial sector retailers, Transportation companies are among the key players in the market.