Gas Spring Market Analysis | Coherent Market Insights

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GAS SPRING MARKET ANALYSIS

• Gas Spring Market Report, By Type (Lift Gas
  Spring, Lockable Gas Spring, Swivel Chair Gas
  Spring, Gas Traction Springs, Gas Spring Damper,
  and Others), by Application (Aerospace,
  Automotive, Medical, Industrial, Furniture, and
  Others), and by Region (North America, Europe,
  Asia Pacific, Latin America, the Middle East, and
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis 2019 - 2027
• By 2027, the gas spring market is expected to be
  valued at US 4,191.6 million with a CAGR of 5.6
  over the forecast period. Gas spring damper
  segment in the market is expected to exhibit the
  highest growth during the forecast period. This
  segment was valued at US 603.3 Mn in 2018, and
  is expected to grow at the CAGR of 6.1 during
  the forecast period of 2019-2027.

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• Global Gas Spring Market generated revenue of US
  2,487.4 million in 2017.
• Europe held the dominant position in the global
  gas spring market in 2017, and is projected to
  retain its dominance throughout the forecast
  period. The Asia Pacific gas spring market is
  expected to register the highest CAGR of 6.2
  over the forecast period.
• Lift gas spring segment held the dominant
  position in the market in 2017
• Among types, the lift gas spring segment
  dominated the gas spring market in 2017, and is
  projected to retain its dominance throughout the
  forecast period. Lift gas springs are energy
  storage and non-lockable elements, and have
  hydro-pneumatic rams which can be charged under
  pressure with inert gases such as nitrogen. The
  high pressure nitrogen gas exerts equal pressure
  on surfaces having different cross-sectional
  piston areas, which in turn, produces a force in
  the moving direction. The generated force is
  directly proportional to the charging pressure
  and piston rod diameter. The lift gas spring
  makes opening or lifting operations very
  convenient, thereby eliminating the actual weight
  of the object to zero or negligible.

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Market Drivers

• Lift gas springs are used in various applications
  which include industrial agricultural
  equipment, adjustable chairs, photo copier
  covers, lids access panel covers, travel and
  cargo trailers, and automotive hood props. Hence,
  key players are focusing on offering new gas
  springs to expand their product portfolio. For
  instance, in September 2017, Meusburger Georg
  GmbH Co KG, an Austria-based company, announced
  the 'E 6350 Gas' spring-force in order to expand
  its range of gas springs. The E 6350 is
  characterized by high initial forces and a
  compact design. These factors are contributing to
  increasing demand for lift gas springs in the
  global gas springs market.

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Figure. Global Gas Spring Market Share (), by
Region, 2017
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Europe held dominant position in the Gas Spring
Market in 2017

• Europe gas spring market generated revenue of US
  1,068.7 Mn in 2018. By 2027, the market is
  projected to reach US 1,705.4 Mn with a CAGR of
  5.5 over the forecast period.
• Europe is one of the leading regions in the
  global gas spring market, and is expected to show
  positive growth in the near future owing to
  technological advancements such as dynamic
  damping that was introduced for automotive
  applications. For instance, in May 2017, Stabilus
  S.A. introduced advanced technology and
  innovation in dampers, electro-mechanical drives,
  and gas springs for motion control in various
  end-use industries.

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Market Opportunities

• According to the European Automobile
  Manufacturers Association, in 2018, 19.2 million
  motor vehicles were produced in the European
  Union. The growth of the gas spring market is
  attributed to increasing application of gas
  springs in the automobile industry such as
  suspension, hoods, doors, and others.
• Furthermore, demand for gas springs is also
  increasing owing to rising application in the
  furniture industry, owing to increasing focus by
  gas spring manufacturers on expanding their
  product portfolio. For instance, in August 2017,
  SUSPA GmbH introduced Tipup and TMove gas spring
  bed fittings.

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Key Development

• The key players in Europe are engaged in adopting
  strategies such as mergers and acquisitions, in
  order to increase their revenue and market share.
  For instance, in January 2019, Stabilus S.A.
  acquired General Aerospace and CLEVERS, to
  strengthen and develop its industrial business
  further.

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Figure. Europe Gas Spring Market Share Analysis,
by Country, 2018 2027 ()
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Global Gas Spring Market Key Players

• Major players operating in the global gas spring
  industry include Stabilus, HAHN Gasfedern GmbH
  (Stabilus GmbH), ACE Controls Inc. (Stabilus
  GmbH), 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, Barnes Group, Camloc Motion
  Control Limited, Metrol Springs Limited, and
  Lesjofors AB (Beijer Alma).

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About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
• Business Consulting Services
• Market Intelligence Services
• Long term Engagement Model
• Country Specific Analysis

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About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
• Business Consulting Services
• Market Intelligence Services
• Long term Engagement Model
• Country Specific Analysis

14
About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
• Business Consulting Services
• Market Intelligence Services
• Long term Engagement Model
• Country Specific Analysis