Honeywell Turbo Technologies has released its Global Turbo Forecast that estimates the industry will generate Rs 74,214 crore in revenue by equipping 4.9 crore vehicles globally with turbochargers annually by 2019.
The company forecasts that continued growth of turbocharging technologies will be driven by requirements for manufacturers to meet global environmental emissions regulations and will be further bolstered by strong demand in the emerging markets. It also expects that 43 per cent of new production vehicles globally will be equipped with turbocharging technology by 2019.
The findings also states that 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.
Honeywell states that turbochargers can help downsized engines improve fuel economy as much as 20 to 40 per cent in petrol 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.
Commenting on the forecast, Terrence Hahn, President and CEO, Honeywell Transportation Systems, said, "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."
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 turbocharging technology as the emerging middle class in these regions takes advantage of the technology's greater reliability, performance and fuel efficiency.
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