Honeywell Global Turbo Forecast Projects 49 Million Turbocharged Vehicle Sales Per Year By 2019

USA - English

• USA - español
• USA - Français
• Latin America - español
• Brazil - Português
• USA - Deutsch

ROLLE, Switzerland, Sept. 29, 2014 /PRNewswire/ -- Honeywell (NYSE: HON) Turbo Technologies, the leading global developer of automotive turbochargers, 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.

Downsized turbocharged engines are a "no compromise solution" for automakers seeking to satisfy more stringent global fuel economy and emission regulations and customer demand for better-performing vehicles. Turbochargers can help downsized engines improve fuel economy as much as 20 to 40 percent in gas and diesel engines, respectively, when compared with larger naturally aspirated engines and still provide the same or better engine performance. In addition to improving fuel efficiency, downsized turbocharged engines also reduce harmful exhaust emissions.

"Continued pressure to improve the driver experience and meet future industry requirements is spurring the positive trend seen in this year's forecast, which include 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."

IHS Automotive Senior Director for Long Range Planning Philip Gott has been tracking the automotive industry and the technologies automakers are using around the world to help improve performance.

"During the past decade, turbochargers have moved from a niche technology in the high- performance market segment to an integral part of manufacturers' mainstream emission control and fuel economy strategies," Gott said. "Because they are compatible with virtually all engine technologies, they represent a global growth opportunity, making substantial gains even in the limited-growth markets of the U.S., Japan and Europe."

GLOBAL TURBO PROJECTIONS

• China leading global turbo growth: The world's fastest-growing automotive market is expected to increase turbo penetration from 23 percent in 2014 to 41 percent in 2019, thereby doubling the number of turbocharged vehicles sold each year to more than 13 million.
• U.S. adding turbos at double-digit rate: As the second-fastest-growing global market, North America's turbo market will grow by 14 percent per year in the next five years to more than 8 million total turbocharged vehicles by 2019, equating to 38 percent of the market.
• Europe adding gas turbos to world's largest turbodiesel fleet: Turbo penetration in Europe is already the highest globally and will grow 2 percent by 2019 from 67 percent to 69 percent with an expected 16 million total turbocharged vehicles sold each year.
• Turbo mix in India to shift toward more gas applications: Honeywell projects turbo penetration to increase 2 percent, from 46 percent in 2014 to 48 percent in 2019, with the total number of turbocharged vehicles sold each year approaching 3 million units.
• Japan adding turbos despite expected decline in overall sales: Honeywell projects turbo penetration will increase by 5 percent from 18 percent in 2014 to 23 percent, reflecting annual sales of 1.3 million turbocharged vehicles by 2019.
• Korea turbo penetration outpacing production: Honeywell projects turbo penetration to increase by 3 percent from 42 percent in 2014 to 45 percent, reflecting annual sales approaching 1 million turbocharged vehicles in 2019.
• South America adding turbo technologies to mix: Honeywell projects turbo penetration to increase by 7 percent from 17 percent in 2014 to 24 percent, reflecting annual sales approaching 2 million turbocharged vehicles in 2019.

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.                                                                              

Global regulatory standards have automotive manufacturers leveraging the performance and efficiency of turbocharged engines to provide an improved driver experience and achieve industry environmental requirements. Europe, China and the United States are all facing more stringent regulations in the years ahead, beginning with Europe's Euro 6 standard affecting new vehicle production starting January 2015.

High-growth regions, including China, Brazil, Russia and India, are contributing to the adoption of turbo as the emerging middle class in these regions takes advantage of the technology's greater reliability, performance and fuel efficiency. Regulations and emerging regions will fuel turbo growth worldwide.

Honeywell continues to play a key role in the global adoption of turbo technology and each year launches an average of 100 new turbo applications. Honeywell has more than 500 programs in its product development pipeline and works with nearly every major global manufacturer. Its advanced turbo technologies cover the broadest range of engine applications, from micro-cars and light automobiles to construction vehicles and the racing circuit. 

Supporting Resources

• About Honeywell's 2014 Global Turbo Forecast
• Read more about Honeywell Turbo Technologies
• Follow @Honeywell_Turbo on Twitter
• Subscribe to Honeywell's Corporate RSS feed

Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero and @Honeywell_Turbo.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.

Honeywell and the Honeywell logo are the exclusive properties of Honeywell, are registered with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other Honeywell product names, technology names, trademarks, service marks, and logos may be registered or pending registration in the U.S. or in other countries. All other trademarks or registered trademarks are the property of their respective owners. Copyright 2014 Honeywell.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

Video - http://origin-qps.onstreammedia.com/origin/multivu_archive/PRNA/ENR/Honeywell_Turbochargers_Infographic_092314.mp4 Photo - http://photos.prnewswire.com/prnh/20140924/148125-INFO

SOURCE Honeywell Turbo Technologies