More stringent environmental emissions regulations, strong demand in emerging markets propelling industry
ROLLE, Switzerland—The future of forced induction in passenger vehicles is bright, with 49 million factory-turbocharged vehicles projected to be sold in 2019, according to a new report.
The automotive turbocharger industry is projected to generate US$12 billion in revenue in five years by outfitting 49 million vehicles sold globally with turbo systems thanks largely to requirements for automakers to meet more stringent environmental emissions regulations and strong demand in emerging markets, according to the 2014 Global Turbo Forecast published by Honeywell Turbo Technologies.
“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,” IHS Automotive senior director Philip Gott said in a statement released by Honeywell.
“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 (United States), Japan and Europe.”
According to Honeywell Transportation Systems president and CEO Terrence Hahn, he expects the global auto industry to build more than 200 million turbocharged vehicles over the next five years.
Honeywell Turbo Technologies is a division of Honeywell Transportation Systems.
The world’s fastest-growing automotive market, China is expected to increase turbo penetration from 23 per cent in 2014 to 41 per cent in 2019, according to the report, doubling the number of turbocharged vehicles sold there each year to more than 13 million.
Across the Pacific Ocean, North America’s turbo market is anticipated to grow by 14 per cent per year in the next five years to more than eight million total turbocharged vehicles by 2019—about 38 percent of the market.
Honeywell projects turbo penetration to increase by seven per cent by 2019, jumping from 17 per cent in 2014 to 24 per cent, with annual sales approaching two million turbocharged vehicles.
Europe, the world’s largest turbodiesel passenger vehicle market, is only projected to grow two per cent by 2019, but will spike to 69 per cent with 16 million turbocharged vehicles sold on the continent annually by 2019.
Meanwhile, so-called “turbo mix”—the percentage of gasoline- versus diesel-powered applications—in India is expected to shift toward more gas, with turbo penetration increasing two per cent, from 46 per cent in 2014 to 48 per cent in 2019.
Total turbocharged vehicles sold in India each year will approach three million units, Honeywell’s report said.
Back in Asia, Japan is adding turbos despite a projected decline in overall sales.
The report said turbo penetration there will hit 23 per cent in 2019, a five per cent rise over 2014 numbers, with annual turbocharged vehicle sales to hit 1.3 million.
In Korea, turbo penetration is outpacing production, according to Honeywell, with turbo penetration expected to increase by three per cent, from 42 per cent in 2014 to 45 per cent, with annual sales approaching one million turbocharged vehicles in 2019.