2014 Honeywell Global Turbo Forecast Predicts Worldwide Turbocharger Growth
Automakers seeking to navigate the technology roadmap driving the future of the industry are finding turbochargers to be a foundational enabler for the journey.
Honeywell Turbo Technologies (HTT) released its Global Turbo Forecast* that estimates the industry will generate $12 billion in revenue by equipping 49 million vehicles with turbochargers annually by 2019. The continued growth of turbocharging technologies will be driven by requirements for manufacturers to meet global environmental emissions regulations and bolstered by strong demand in emerging markets.
“Continued pressure to improve the driver experience and meet future industry requirements is spurring the positive trend seen in this year’s forecast, which includes double-digit growth in both North America and China,” said Honeywell Transportation Systems president and CEO Terrence Hahn. “We expect the industry to produce more than 200 million new turbo-equipped vehicles during the next five years, driving continued demand for well-designed, boosted engines that reduce fuel consumption and improve vehicle performance.”
Honeywell began developing turbocharger solutions more than 60 years ago and continues to be the leading global developer of turbochargers, supplying nearly every major automaker with an average of 100 new applications released each year.
Turbocharging is proven not only to help increase fuel efficiency by up to 40 percent** in diesel engines and up to 20 percent** in gasoline powertrains, it is also enabling another global trend to take place…the development of leaner and smaller engines that offer big engine responsiveness.
It’s indeed a technology helping to address key macro-economic and environmental issues.
From micro-cars and light automobiles to construction vehicles and the racing circuit, Honeywell continues to play a key role in the global adoption of turbo technology. The 500 applications still in its development pipeline – due to launch in the next few years – reflect the tremendous growth that lays ahead for downsized turbocharged engines.
*The Honeywell Global Turbo Forecast is a proprietary analysis and estimate of automotive industry trends and is based on comprehensive data received from global vehicle- makers, third-party analysts and industry experts.
**Compared to non-turbocharged gas engines of equivalent power ratings.