EUR 300 million to be invested in heat pumps by mid-2020s
- Sales 2021: Increase of 13 percent compared to previous year
- Heat pump business grows 38 percent
Electrification, hybrids and hydrogen: Multi-technology strategy for the global climate transition
- Driving the energy transition together with the skilled trades
Wetzlar – Bosch Thermotechnology was able to grow its sales in 2021 by 13 percent in nominal terms compared to the previous year – 14 percent in exchange rate-adjusted terms – to EUR 4 billion, reaching this mark for the first time in its history. The company achieved 10 percent and 16 percent growth in its key markets, Germany and Great Britain, with many other markets also growing at double-digit rates. The strong revenue growth was driven mainly by the global trend towards electrification and by the expansion of air conditioning sales and digitalisation. Bosch Thermotechnology’s international heat pump sales increased by 38 percent in 2021, which was clearly above the market trend. The Division plans to invest EUR 300 million in the heat pump business by the mid-2020s. At the same time, Bosch Thermotechnology increased its investments in research and development 2021 by 19 percent compared to the previous year to EUR 210 million. The number of associates worldwide rose by approx. 4 percent to roughly 14,200 compared to 2020.
Bosch Thermotechnology achieved these results in a difficult market environment caused by the worldwide COVID-19 pandemic and the tense global economic situation, which is marked by considerable shortages of raw materials, electronic parts and components. “The record sales confirms our multi-technology strategy. It is only with this approach that the climate goals in the building sector can be reached at the required speed and affordably for all citizens. This is why we will continue to make comprehensive investments in forward-looking technologies such as electrification, hybrid and hydrogen technology – adapted to local customer requirements worldwide – and digitalisation,” said Jan Brockmann, Chairman of the Bosch Thermotechnology Division.
Moreover, the company will support its specialist trade partners even more than before with training and further education programmes supporting the energy transition. This applies, in particular, to electrification but also to the use of green gases such as hydrogen as well as the topic of air-conditioning, which is becoming increasingly important in Europe. With regard to heat pumps, for instance, Bosch Thermotechnology offers some 20 different online and physical training formats, which increasingly also cover special topics such as building temperature control using heat pumps and hybrid gas heat pump devices. “Together with our partners, we are making an important contribution to achieving the European climate goals and deliver optimum solutions for the diverse day-to-day customer requirements. This way, our corporate purpose ‘Make. Home. Comfort. Green’ becomes a reality,” Brockmann added.