New analysis from Frost & Sullivan (automotive.frost.com), Strategic Analysis of Advanced Suspension Systems in European Market, finds that the total European passenger vehicle suspension market (including advanced suspension) earned revenues of €8.29 billion in 2008 and estimates this to reach €9.62 billion by 2015, spurred by growing demand for systems that offer best ride with optimal handling capabilities. The research covers the following advanced suspension systems: air suspension, adaptive and semi-active systems and active suspension systems.
Today's automobile is more than a medium for point A to B travel. Vehicle buyers often make their selection based on ride comfort, safety and stability. "Performance requirements, the need for product differentiation in a saturated market, and increasingly stringent safety requirements propel the development of advanced suspension technology," notes Frost & Sullivan Industry Analyst Vinod Nookala.
Although advanced suspension systems deliver excellent value, they are more expensive than active systems, and getting the customer to pay for them remains a challenge. Moreover, manufacturers have to figure out how to make these systems lighter, cleaner and less bulky.
"Manufacturers should collaborate with suppliers to simplify the system and achieve common components standards," advises Nookala. "This will help reduce developmental costs and encourage additional suppliers to join in efforts to develop a less expensive, more versatile and more efficient system." Adaptive and semi-active systems will be increasingly common on certain models. However, economic conditions will determine investments in suspension systems and further penetration into new segments, at least in the short term.
Strategic Analysis of Advanced Suspension Systems in European Market is part of the Automotive & Transportation Growth Partnership Services programme, which also includes research in the following markets: Strategic Analysis of the Global Market for Low Cost Chassis Systems, Strategic Analysis of the European Market for AWD/4WD Technologies, European Passenger Cars and Light Commercial Vehicles Market for Electronic Parking Brakes and, European Market for X-by- Wire Technologies. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Analysis of Advanced Suspension Systems in European Market / M351