Gas Spring Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Gas Spring Market in 2025 is assessed at USD 3.27 billion. The global market size crossed USD 3.14 billion in 2024 and it is set to experience impressive growth, with a CAGR above 5.3%, to exceed USD 6.14 billion by 2037. North America is on track to collect USD 3.01 billion by 2037, impelled by strong automotive demand and the presence of leading gas spring manufacturers.
The market is experiencing growth due to advancements in both materials and design. The introduction of new composite materials and high-strength alloys has resulted in improved durability and performance.
Furthermore, innovative designs such as variable force gas springs have enabled precise control over force and movement speed. These technological advancements have provided manufacturers with the ability to create products that are not only more reliable but also offer superior performance.
Gas springs play a crucial role in the healthcare industry, specifically in medical equipment like hospital beds, patient lifts, and operating tables. With the increasing number of elderly individuals and the need for more healthcare infrastructure, there is a projected rise in demand for medical equipment. As per our findings, the pandemic increased the need for healthcare and it was predicted that in 2020, there was a 5% increase in healthcare spending, mostly driven by the government and hugely benefiting the healthcare equipment industry. This, in turn, will cause an upsurge in the need for gas springs in the healthcare industry to ensure that medical equipment operates safely and efficiently.
