How is Robust Lifecycle Aiding Market Growth of Gas Springs

How is Robust Lifecycle Aiding Market Growth of Gas Springs As per industry analysis by Fact.MR – a market research and competitive intelligence provider, the global gas spring market is poised to expand at a substantial CAGR of a little over 10% during the forecast period of 2021-2031.

Historically, the market has witnessed a growth rate of 4.5% over the past 5 years, owing to mounting demand from sectors such as automotive, industrial machinery, and furniture on the back of exponentially rising population, urbanization, and consumer household spending across the globe. Moreover, demand for gas springs is reaching new potential with the rising healthcare facilities and isolation centres across the globe.

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The global market for gas springs is anticipated to add 2.6X value by 2031.

Demand for gas springs in healthcare is expected to expand at a substantial CAGR of 11.6% over the forecast period.

North America is the supreme market with a value of more than US$ 860 Mn in 2020, and is projected to expand at a substantial CAGR of approx. 9.7% over the next ten years.

The aftermarket segment for gas springs is projected to exhibit a high growth rate of around 10.5% CAGR, while OEMs, under sales channel, of are projected to add 2.6X value by 2031.

The market in South Asia is set to surge at 11% CAGR, and is set to be valued at over US$ 800 Mn in 2031, owing to increasing population & urbanization and increased volume of industrial machinery and automation.

By maximum force, 750-1000 N gas springs are poised to provide higher opportunity for manufacturers by virtue of increasing use in healthcare and furniture, and development of electric vehicles with advanced automated systems. The 750-1000 N segment is poised to progress at a CAGR of 10.5% over the next ten years.

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Gas Springs  Lockable Gas Springs  Standard Gas Springs Dampers  Hydraulic Gas Spring Dampers  Friction Gas Spring Dampers

Maximum Force

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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

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/1318 Inorganic Approach and Product Customization by Key Players Prominent players in the market such as Stabilus GmbH, Beijer Alma, Barnes Group, and Suspa GmbH have created a synergy in the demand and supply equation with end-use industries. This collaborative network has streamlined the supply chain of gas springs, set by relative demand from healthcare, furniture, and aerospace industries, and replacement of mechanical springs with advanced gas spring systems.

Gas spring manufacturers are competing primarily on product attributes, customization, innovation, and pricing.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/newsrelease/2020/03/16/2001119/0/en/Stuffed-and-Plush-Toy-Sales-to-Grow-Healthy-by-2029-Demand-forVintage-Toys-Sustains-Sales-Reveals-Fact-MR.html About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

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