Nitrogen Gas Springs Market By Type (Standard, Compact, Super Compact, Micro) By Application (Automotive, Die Industry, Electronics, Others (Furniture, medical, ships etc.)) and Region - Global Forecast to 2026

Global Nitrogen Nas Springs Market Overview

The global nitrogen gas springs market was valued at approximately US$ 6.4 Bn in 2017 and is expected to register a CAGR of 5.8%.

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The report offers in-depth insights, revenue details, and other vital information regarding the global nitrogen gas springs market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.

The report also offers insightful and detailed information regarding the various key players operating in the global nitrogen gas springs market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global nitrogen gas springs market is segmented on the basis of form type, application, and region.

A nitrogen gas spring is a type of spring comprising a precision rod/shaft attached to a piston moving within a sealed cylinder, in which nitrogen gas is filled at high pressure. The gas pressure acts on the piston inside the cylinder and provides the resistant force.

The standard of living and growing aging population is on the rise. The global geriatric populace is increasing at a relatively rapid pace, and demand for movement supported/assisted and automated systems in vehicles and other aspects of daily life such as automatic opening and closing of cabinets, doors, positioning beds, recliners, seats, etc. is expected to increase, in turn boosting the growth of the global nitrogen gas springs market to a significant extent in future.

In addition, motor vehicle production, demand, and technological advancements have been witnessing steady and rapid growth over the past few years, which is anticipated to drive demand for nitrogen gas springs to a significant extent in the future.

Moreover, nitrogen is abundantly available, low cost, and exhibits various usable properties for use in gas springs, which cannot ideally be realized when using other types and materials for this application. These are other factors expected to fuel the global market growth over the forecast period.

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PDF report and online dashboard will help you understand:

• Competitive benchmarking
• Market forecasts
• Company market shares
• Market opportunities
• Latest trends & dynamics

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Nitrogen gas springs find applications across various industries such as automotive, manufacturing, and healthcare sectors. Nitrogen gas springs can be used in vehicles, and furniture such as in-office chairs, beds, cabinets, kitchen shelves, etc. in order to provide ease of handling and are efficient for lifting, supporting, and motion control of bonnets, hatches, doors, lids, etc.

However, prime application areas include automotive and industrial. Large tools are used for manufacturing complex parts, and such tasks require springs in order to deliver consistent pressure and repeatable force.

Hence, nitrogen gas springs find wide application in metal stamping machines, drilling machines, push-and-pull vehicles, railcars, etc. In addition, nitrogen gas springs are used in robot arms for smooth lifting and motion control during tasks performed by robots or automated equipment and systems.

However, a vast amount of energy is discharged if not used efficiently which could restrain the market growth. There is approx. 300 bar pressure inside a nitrogen gas spring system.

Misusing or mishandling nitrogen gas springs can lead to potentially dangerous bursts that can cause the rod to eject up to 1,500 feet, reaching more than 200 miles per hour and causing serious injuries.

With the increasing e-commerce acceptance rising in the Asia Pacific market, various vendors are increasingly focusing on introducing the online platforms to boost sales, and cater to the rising demand for various products in countries in the region.

Various players are increasing focus on countries in the Asia Pacific market, primarily to meet the growing demand for nitrogen gas springs driven by increasing usage and production of motor vehicles and industrialization, besides the availability of comparatively lower raw materials and labor costs in the region.

Benefits such as easy access online to product information and catalogs to gain insights and awareness regarding product specifications and performance and other properties, as well as discounts and no need to physically visit an outlet for purchases clubbed with door delivery are factors giving rise to this trend.

Moreover, the use of various base materials – apart from steel and alloys – such as Titanium in order to expand application areas and enter into more niche markets such as healthcare, racing yachts, motorsports, and defense categories, will create more potential revenue opportunities for players in the target market.

Titanium compression gas springs weigh approximately a third less than a stainless steel counterpart, and also offer significantly higher strength and durability. This can represent lucrative opportunities for various manufacturers operating in the global nitrogen gas springs market in the future.

Market Analysis by Type:

On the basis of type, the super-compact segment is expected to contribute a major revenue share in the global nitrogen gas springs market. The micro-segment is expected to witness the highest CAGR of over 6%, in terms of revenue over the forecast period, owing to its various advantages such as small size and low force.

The small size reduces the surface area required, as well as reduces the height of the end product.

Super compact gas springs are ideal for applications that require high force and short stroke lengths, including absorbing breakthrough and flanging q Factors contributing to rising demand is due to the fact that the super compact gas spring combines the convenience of a self-contained gas spring with the increased on-contact force and shorter body height of a bore seal cylinder.

Market Analysis by Application:

Among the application segments, the electronics segment is expected to register the highest CAGR of over 8%, owing to a variety of applications in the electronics industry.

They are used in semiconductor manufacturing, gaming machines, ATM machines, printing industries or printing equipment, communications equipment, broadband equipment, electronic sensors, lift assist for electrical components, etc.

The automotive segment dominates the global nitrogen gas spring market in terms of revenue contribution and is expected to continue its dominance during the forecast period. A key factor contributing to this growth is a wide and growing application of nitrogen gas springs in the automotive industry.

Market Analysis by Region/Country:

The US market is expected to dominate the global nitrogen gas springs market and is expected to account for the largest market revenue share of approximately US$ 3 Bn in 2020, as compared to that of markets in other regions.

The dominance of the US market is expected to continue over the forecast period. Driving factors for the growth of this market include the presence of key players in the region such as Barnes Group Inc. (Hyson & Kaller), and DADCO, Inc.

China's market is expected to witness the highest CAGR growth of over 6% in the global nitrogen gas springs market during the forecast period, owing to the availability of a large number of suppliers in the country.

In addition, nitrogen gas springs are widely used in various sectors such as automotive, die industry, etc., and also the adoption of nitrogen gas springs for stamping applications has been increasing significantly.

Europe is also expected to register significant growth in the global nitrogen gas springs market and is expected to grow at a CAGR of around 5% owing to the growing automobile industry in countries in the region.

Market Segmentation of Global Nitrogen Gas Springs Market:

Segmentation by type:

• Standard
• Compact
• Super Compact
• Micro

Segmentation by application:

• Automotive
• Die Industry
• Electronics
• Others (Furniture, medical, ships etc.)

Segmentation by region:

• US
• China
• Europe
• Japan
• India
• Southeast Asia
• Rest of the World