Gas Spring Market Segmentation:
Application Segment Analysis
The automotive segment is expected to account for 42% share of the global gas spring market by 2035. The demand for transportation of materials has increased due to rising construction activities and infrastructure development worldwide. This has led to a surge in demand for light and heavy commercial vehicles, ultimately fuelling the demand for gas spring. Our analysis predicts that the global production of commercial vehicles reached approximately 23 million units in 2022. The top manufacturers of heavy trucks in the same year were Asia and Oceania, producing around 2.3 million units. This has contributed to an increase in demand for automotive parts and holdings, resulting in growth for the segment.
Type Segment Analysis
The lift gas spring segment is anticipated to dominate the market with highest revenue share. Lift gas springs offer a significant advantage when it comes to facilitating the lifting and opening of various objects. This is due to their ability to minimize the weight of the object being lifted, making it easier and more efficient to perform these operations. As a result, lift gas springs have found widespread use in various industries, including the industrial and agricultural sectors, where their unique benefits have been leveraged to great effect.
Our in-depth analysis of the global market includes the following segments:
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