Nitrogen gas spring is a type of spring which consists of precision rod 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.
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%.
Abundance availability and properties of nitrogen gas are key factors driving growth of the global nitrogen gas market. Nitrogen gas spring is a low cost product and exhibits various usable properties for use in gas springs, which cannot ideally be realized when using other types and materials for this application. In addition, it has various advantages over conventional springs such as no need for greasing, oiling, or lubricating as frequently as that required for conventional springs. Other advantages are that these are corrosion-free, heavy-duty, and have an average lifespan of around 10 years.
However, Nitrogen gas springs discharges vast amount of energy if not used efficiently, which is a key factor expected to restrain the market growth.
Various players are focusing on expanding customer base in untapped markets in countries in Asia Pacific, primarily to meet the growing demand for nitrogen gas spring driven by increasing usage and production of motor vehicles and industrialization, besides, availability of comparatively lower raw materials and labour costs in the region. With the growing popularity of smart cities and smart home automation, gas springs are likely to find wide scope in terms of application, and further open up high potential opportunities in the near future.
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The global nitrogen gas springs market report has been segmented on the basis of type, application, and region. On the basis of region, the global nitrogen gas springs market is segmented into US, China, Europe, Japan, India, Southeast Asia and Rest of the World. The market in US is expected to dominate the global nitrogen gas springs market and account for highest market share in terms of revenue owing to growing applications for nitrogen gas springs.
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.