- 16 April 2019 22:16
Nitrogen Gas Springs Market In Us Is Expected To Account For Largest Market Revenue Share Of Approximately Us$ 3 Bn In 2020
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 resistant force.
Global Nitrogen Gas Springs Market Dynamics:
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 for automatic opening and closing cabinets, doors, positioning beds, recliners, seats etc. is expected to increase, in turn boosting 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 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 forecast period.
The super compact type segment in the global nitrogen gas springs market is estimated to account for majority revenue share in 2017, and this segment is projected to be US$ 3,201.0 Mn in 2017.
The automotive application segment in the global nitrogen gas springs market is expected to account for largest revenue share of US$ 3,528.4 Mn in 2017, and is expected to continue its dominance during the forecast period.
The US nitrogen gas springs market is estimated to account for major revenue share of US$ 2,359.6 Mn in 2017. Markets in China and Europe are expected to follow the US market respectively.
Prominent players operating in the global nitrogen gas springs market include MISUMI Group, Inc., Barnes Group Inc. (Hyson & Kaller), DADCO, Inc., Fibro Gmbh., Mollificio Bordignon srl, Pascal Corporation, Xinda Precision Machinery Manufacturing Co., Ltd., Quiri Hydromecanique, and AZOL-GAS.