Gas Struts and Spring Systems Market is segmented by Type (Automotive Gas Struts and Spring Systems and Industrial Gas Struts and Spring Systems), and by Industry (Automotive, Aerospace, Marine, Medical, Furniture, and Industrial), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Gas Struts and Spring Systems Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Gas struts and spring systems are used to support moving weights. They can lift, open, adjust, close and position objects. They are hydro-pneumatic adjustment elements.
Applications include nitrogen gas springs in the industrial sector as they have adjustable force used in aerospace, and automotive. Other applications are marine, medical, furniture and industrial. Manufacturers are incorporating strategies like acquisitions, new product developments and partnerships so as to increase market share and customer base. North America is the market dominator due to increase in aircraft production. According to Aerospace Industries Association, the civil aircraft production in the US was at 2,652 units in 2016 and rose to 2,808 in 2017.
In June 2016, Stabilus S.A, a leading provider of gas springs and hydraulic dampers acquired entities of SKF Group including Hahn Gasfedern, Fabreeka/Tech Products and ACE for US$339Mn. The entities are industry suppliers of motion control, vibration control and damping applied in industries like rail car manufacturing, automation and medical. The acquisitions goal is to help Stabilus to expand its global motion control solutions.
In July 2019, Camloc Motion Control Limited, a manufacturer of struts, dampers and gas springs entered into a partnership with Ireland based Appian Fasteners, a distributor of industrial fasteners and mechanical components. For Camloc, the partnership is expected to expand its distribution network through Appians online web store.
Gas Struts and Spring Systems Market Growth and Trends
Driving factors for the industry :
• Ever growing end-use industries like automotive, aerospace, marine, medical, etc., both in developing and developed economies around the globe is expected to be the prime factor responsible for the growth of the global gas struts and spring system market over the forecast period.
• Gas struts and spring systems are lightweight, corrosion resistant, durable, easy to install, and reliable and handles heavy objects with ease as compared to mechanical springs. These features are expected to boost the demand for gas struts and spring systems in the automotive industry during the forecast period.
• Extensive application in aerospace and automotive industries has led to increasing demand for nitrogen gas springs, which is anticipated to fuel the global market for gas struts and spring systems in the next few years.
• Application coupled with rising demand for gas springs from end-use consumers and industries is one of the major factors driving growth of the gas spring market globally. These factors are expected to create sufficient growth opportunities for manufacturers in this market.
• Due to rising demand for gas springs, manufacturers are focusing on various strategies such as partnerships and acquisitions in order to expand their market share and consumer base, and also strengthen their foothold in the global gas struts and spring system market.
• Furthermore, nitrogen gas springs are being used by industrial machine manufacturers which is anticipated to boost demand for gas springs globally.
• Gas springs have been perceiving a heave in demand in the automotive and industrial applications and are mostly used in the automotive industry to adjust passenger seats and for opening & closing of dickey and bonnet leading to high demands.
• Rising adoption of advanced technology for production of various equipment and motion control products such as nitrogen gas spring is expected to create growth opportunities for gas spring manufacturers in the global market. Moreover, increasing demand for nitrogen gas springs for aerospace and automotive applications is expected to push the growth of gas spring market globally.
• The evolution in the residential and automotive sectors has led to higher acceptance of equipment like gas spring that are used for opening, lifting, closing, adjusting and positioning applications in varied fields globally.
Challenges for the industry :
• High Costs of Gas Struts and Spring Systems poses as a hamper or restraint to the Market.
• Gas springs are generally corrosion resistant, but it cannot be used in environments with a constant damp load. This factor is anticipated to hamper the growth of gas spring market over the forecast period.
Gas Struts and Spring Systems Market Regional Analysis
Gas Struts and Spring Systems Market Share and Competition
Key companies operating in this industry are: ACE Controls Inc., Ameritool Manufacturing Inc., Aritech Gas Spring, AVM INDUSTRIES, Bansbach Easylift GmbH, Barnes Group Ltd., ChangZhou LongXiang Gas Spring Co., Ltd., Camloc Motion Control Limited, Dictator Technik GmbH, Gemini Gas Springs Inc., IDEAL Gas Spring Pvt. Ltd., Industrial Gas Spring, Inc., LANTAN, Metrol Spring Limited, Shunde Huayang Gas Spring Co., Ltd., Stabilus GmbH, SUSPA GmbH, and WAN DER FUL CO., LTD.
Gas Struts and Spring Systems Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• Automotive Gas Struts and Spring Systems
• Industrial Gas Struts and Spring Systems
Industry Analysis (Revenue, USD Million, 2020 - 2027)
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Gas Struts and Spring Systems Market Companies
• ACE Controls Inc.
• Ameritool Manufacturing Inc.
• Aritech Gas Spring
• AVM INDUSTRIES
• Bansbach Easylift GmbH
• Barnes Group Ltd.
• ChangZhou LongXiang Gas Spring Co., Ltd.
• Camloc Motion Control Limited
• Dictator Technik GmbH
• Gemini Gas Springs Inc.
• IDEAL Gas Spring Pvt. Ltd.
• Industrial Gas Spring, Inc.
• Metrol Spring Limited
• Shunde Huayang Gas Spring Co., Ltd.
• Stabilus GmbH
• SUSPA GmbH
• WAN DER FUL CO., LTD.
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United States Gas Struts and Spring Systems Market Research Report
Europe Gas Struts and Spring Systems Market Research Report
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