Strong forecast for diesel as European growth rises

The European diesel engine technology market is estimated to be worth $6.34bn (£3.37bn) in 2004, according to a report by market analyst Frost & Sullivan.

The market is forecast to increase at an annual growth rate of 3.6% to reach around $8.26bn (£4.39bn) in 2012.

Frost & Sullivan research analyst Kaushik Madhavan, says: "The penetration of diesel engines is expected to increase from the current 45% to about 53% by 2012."