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Analysis of the European Suspension Systems Market
Frost & Sullivan, May 2005
McPherson Strut Systems Dominate the Market for Front Suspension Systems
Considering the increasing willingness of the end users to pay for improvements in vehicle comfort and ride handling capabilities, original equipment manufacturers (OEMs) are undertaking considerable investments in developing advanced suspension systems. Nevertheless, base suspension systems such as McPherson strut systems constitute the front suspensions of most vehicles, achieving a penetration of over 85 per cent in 2004. On the other hand the rear suspension systems market is dominated equally by twist beam and multi link systems, but fuelled largely by the lower medium, medium and higher segments, multi link systems are expected to corner over 55 per cent of the market for rear suspension systems in the long term.
This Frost & Sullivan research service is an analysis of the European suspension systems market. It details key market drivers and restraints and lists indicative prices for the various suspension technologies at a segment level. Further, it provides a benefit analysis of the suspension technologies based on OEM feedback and this is likely to help suppliers to focus on the attributes that are most valuable from an OEM perspective.
Air Suspension Systems Expected to Drive Growth in the Advanced Suspension Systems Market
In meeting the evolving needs of end-users, computer-controlled electronic air suspension systems provide better handling characteristics. Growth in the air suspension systems market is mainly fuelled by the implementation of the technology in premium segments and maximum revenue are generated in the D2 segment followed by the super utility vehicle (SUV) segment. However, as more and more OEMs prepare to offer these systems as standard equipment, the market is expected to see a healthy growth leading to increased opportunities over the next decade.
In regard to active suspensions, the active suspensions market is still in the initial growth phases and despite the promising technology, cost constraints are expected to hamper growth. With a number of OEMs involved in research and development (R&D), Frost & Sullivan expects OEMs to introduce fully active suspension systems as optional systems on some concept models early in the next decade, says the analyst. Since active suspension technology is still in the development stage, for this technology to move forward in their life cycle, it is essential that development costs are more tightly budgeted.
Suspension by Wire Systems draw Larger R&D Efforts
Driven by the trend to eliminate hydraulics in cars and to develop integrated chassis control, electronically controlled air suspension technology is likely to emerge as the technology of the future. However, the Bose system, which is a potential suspension by wire system, claims to have the ability to combine the smoothness of a luxury sedan, with, less roll and pitch properties of a sports car. As a result, the automotive industry appears to be looking at strengthening R&D efforts in developing suspension by wire systems. Nevertheless, vehicle manufacturers are likely to sharpen their focus on the development of suspension by wire only after other vital systems such as brake-by-wire and steer-by-wire are launched. Its introduction in select applications is expected only around 2012 - 2013.
While the European suspension systems sees the development of existing systems to provide better performance and output, component suppliers will need to keep pace with industry trends and requirements, says the analyst. In retaining and expanding their client base, system and component suppliers will need to focus on developing flexible solutions that constantly evolve with the advancing needs of the OEMs.
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