The global gas struts market was valued at USD 3,497.84 million in 2023 and is anticipated to expand at a compound annual growth rate (CAGR) of 5.61% from 2024 to 2035, culminating in a value of USD 6,705.50 million in 2035. One of the primary market drivers that contributes to market growth is the increase in automobile production and sales, particularly in emerging markets.
The automobile industry's demand for gasoline struts is on the rise, as a result of the necessity for reliable and efficient lifting and guidance mechanisms in motors. The controlled movement and support functionalities of Gas Struts are significantly employed in automotive applications, including hoods, compartments, tailgates, and seats. The significance of gasoline struts in contemporary car design and functionality is underscored by the anticipated significant increase in demand for them as the automotive industry expands globally, particularly in emerging markets.
Furthermore, the demand for ergonomic solutions and intelligent domestic products is driving the increasing use of Gas Struts in the furniture and device industries. Gas struts enable the installation of storage compartments, reclining chairs, and adjustable peak desks in fixtures, thereby improving personal comfort and convenience.
Market segment insights
Automotive Gas Struts and Spring Systems and Industrial Gas Struts and Spring Systems comprise the Gas Struts Market segmentation by Type.
Automotive, aerospace, marine, medical, furniture, and industrial comprise the Gas Struts Market segmentation by application.
Regional Perspectives
The study offers market insights for North America, Europe, Asia-Pacific, and the Rest of the World by region. The market is driven by the constant expansion of the automotive sector in North America and the growing popularity of Gas Struts, which are used to enhance the functionality and safety features of vehicles.
The second-largest market share is attributed to the European Gas Struts market. The automotive industry in Europe is robust and is distinguished by the production of passenger automobiles, commercial vehicles, and specialty vehicles. Gas struts are indispensable components for a variety of automotive applications, such as hoods, tailgates, trunk covers, and bonnets.
The Asia-Pacific Gas Struts Market is anticipated to experience the most rapid rate of growth during study period. The automotive industry in the Asia-Pacific region is experiencing substantial development because of urbanization, rising disposable incomes, and the growing demand for passenger and commercial vehicles. In a variety of automotive applications, including hoods, tailgates, trunk covers, and doors, gas struts are indispensable components.
Major Players
ACE Controls Inc., Gemini Gas Springs Inc., Ameritool Manufacturing Inc., AVM INDUSTRIES, Bansbach Easylift GmbH, Aritech Gas Spring, Camloc Motion Control Limited, Barnes Group Ltd., Dictator Technik GmbH, ChangZhou LongXiang Gas Spring Co.Ltd., Stabilus GmbH, WAN DER FUL CO.LTD., SUSPA GmbH, IDEAL Gas Spring Pvt. Ltd., Metrol Spring Limited, LANTAN, Shunde Huayang Gas Spring Co.Ltd., Industrial Gas Spring Inc., and others are attempting to increase market demand by investing in research and development operations.
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