The global demand for diesel vehicles is expected to nearly double over the next 10 years to 29 million vehicles from 15 million sold worldwide last year, J.D. Power Automotive Forecasting said on Thursday.
A sharp increase in demand in the US, which has been slow to adopt diesel, will help fuel the growth, the company said.
Diesel vehicles are expected to make up 10 percent of the vehicles sold in the US by 2015 from the current rate of just 3.2 percent. That will help push the global market share of diesel vehicles to 26 percent from the current rate of 18 percent, J.D. Power forecast.
"As a proven, cost-effective and `off-the-shelf' solution, diesel has a head start over other emerging fuel-efficient technologies," Alastair Bedwell, senior manager for J.D. Power Automotive Forecasting said in a statement.
"With energy prices at elevated levels and new regulatory pressure to improve light-truck fuel efficiency, a range of fuel-efficient alternatives to the conventional gasoline engine will be required," he said. "The United States and Canada are markets with enormous potential for diesel light-vehicle sales."
Prospects for diesel demand within Asian markets remains mixed, however.
"South Korea and India are key markets for diesel growth in Asia, and the market in China is continuously developing," Bedwell said.
"However, near- and mid-term prospects for diesel vehicle sales in Japan remain limited. There has been some rejection of diesel technology among consumers," he said.
New emission controls will limit the cost advantages of diesel fuel in Europe and J.D. Power forecasts that diesel is approaching a saturation point in Western Europe at below 60 percent of the market.
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