Gas Spring Market Size Worth $4,748.34 Million By 2032 | CAGR: 5.50%

Gas Spring Market Size Worth $4,748.34 Million By 2032 | CAGR: 5.50%


The global gas spring market size is expected to reach USD 4,748.34 million by 2032, according to a new study by Polaris Market Research. The report “Gas Spring Market Share, Size, Trends, Industry Analysis Report, By Product (Gas Springs, Dampers, and Others); By Mounting Orientation; By Application; By Sales Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing focus on manufacturers towards developing products with enhanced corrosion resistance, improved and unique characteristics, and longer lifespans made for particular applications like healthcare, medical equipment, furniture, and automotive, are major factors pushing the market growth forward. Moreover, gas springs are also finding applications in renewable energy, such as solar panel mounting systems for adjustable positioning and ease of installation. Thus, exploring new industries expands the potential market for gas springs over the coming years.

For instance, in June 2023, Alphasense announced the launch of its new compact sensor, mainly designed for air quality monitoring and gas detection. It is compatible with 1-Series sensors from other manufacturers and uses a surface mount spring instead of pins, which creates flexibility.

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The rising proliferation regarding the use of lightweight materials and design optimization techniques has enabled the development of gas springs with reduced weight and improved performance, and the incorporation of advanced materials such as high-strength alloys and composites into these products to achieve lighter gas spring components without compromising strength or durability is gaining huge traction.

Additionally, the emerging trend of integrating automation technologies and Industry 4.0 principles into gas springs allows for precise control, synchronized movements, and improved productivity. Also, it enables data connectivity, real-time monitoring, and predictive maintenance of gas spring systems, which in turn, creating new revenue opportunities for the companies operating in the market.

Gas Spring Market Report Highlights

  • Gas springs segment held the majority market share in 2022, on account of its widespread use in industrial application from several sectors including automotive, machinery, and furniture
  • Horizontal gas springs segment is anticipated to hold substantial share over the forecast period, mainly due to growing need and demand for springs facilitating smooth and effortless movements
  • Automotive segment accounted for largest market share in 2022, which is mainly driven by increasing sales and adoption of automobiles globally integrated with gas springs
  • OEM segment is likely to grow at fastest growth rate during the study period, mainly attributable to significant advancements in designs and manufacturing processes of products
  • North America region led the industry market with largest share in 2022, owing to presence of well-established industries and huge investments in R&D to develop more innovated products
  • The global key market players include AVM Industries, Industrial Gas Springs, Lantan Gas Spring, Suspa GmbH, Winco Stamping, Showa Corporation, and ACE Controls

Polaris Market Research has segmented the gas spring market report based on product, mounting orientation, application, sales channel, and region:

Gas Spring, Product Outlook (Revenue - USD Million, 2019 - 2032)

  • Gas Springs
  • Dampers
  • Others

Gas Spring, Mounting Orientation Outlook (Revenue - USD Million, 2019 - 2032)

  • Horizontal Gas Springs
  • Vertical Gas Springs

Gas Spring, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Automotive
  • Aerospace, Marine, & Rail
  • Home & Office Equipment
  • Industrial Machinery & Automation
  • Healthcare
  • Others

Gas Spring, Sales Channel Outlook (Revenue - USD Million, 2019 - 2032)

  • OEM
  • Aftermarket

Gas Spring, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Gas Spring Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 3096.37 million

Revenue forecast in 2032

USD 4,748.34 million

CAGR

5.50% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Product, By Mounting Orientation, By Application, By Sales Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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