Compression Gas Spring Market Market Size

Gas Spring Market size is expected to reach USD 6.8 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of gas spring was over USD  3 Billion. 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.