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Diversified technology company Honeywell International Inc. (HON - Analyst Report) recently announced that its Turbo Technologies division, a leading developer of automotive turbochargers, expects to launch more than 100 turbocharger applications in 2014.

Honeywell VNT turbo has already been selected to power the Fiat 500L and 1.6L Multi Jet II diesel engine. Customers of Honeywell all over the world will get access to gasoline, diesel, natural gas and hybrid powertrains in both light vehicle passenger and commercial vehicles category with the use of these new applications.

Going forward, more than 20 new technologies are on the anvil for passenger and commercial vehicles globally in 2014. The new technologies are likely to improve the turbocharging performance with new ball bearing designs for improved response and efficiency, superior flow control valves for gasoline engines and variable geometry applications for diesel engines to expand performance capability. This in turn will reduce emission and improve fuel economy at desired efficiency levels with more advanced variable geometry turbos in diesels and will address the growing gasoline segment globally.

With rising fuel costs and stringent rules and regulations for emission controls for a cleaner and pollution-free environment, turbocharging technology is increasingly gaining popularity across the world. Honeywell expects turbocharging to grow globally from 31% in 2013 to 38% by 2018. So far, Europe has been the global leader in turbo penetration and the addition of gasoline turbocharging is likely to increase its turbo penetration to nearly 67% by 2018. Turbochargers are 20% to 40% more fuel efficient in gasoline and diesel engines, respectively, and help the smaller engines achieve similar power output in comparison to larger engines.

Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Honeywell is a global leader with more than 500 current turbo programs in its customer pipeline, which are all expected to come to market in the next few years.

Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Marubeni CorporationHutchison Whampoa Limited (HUWHY) and 3M Company (MMM - Analyst Report), each carrying a Zacks Rank #2 (Buy).
 

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