Report 52093/1
Study Report
HVAC Overlapping Study
BSRIA Ltd – Worldwide Market IntelligenceJune 2009
0.0
1,000.0
2,000.0
3,000.0
4,000.0
5,000.0
6,000.0
7,000.0
8,000.0
2003 2004 2005 2006 2007 2008E 2009F 2010F 2011F 2012F
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Product focus
Air conditioning Heating RenewablesVRF Condensing wall hung gas boilers Ground/ water to waterRooftops Non-condensing wall hung gas boilers Air to water –split systemsIndoor packaged Floor standing atmospheric gas boilers Exhaust air/ water (combined with heat recovery)US ducted Oil/gas pressure jet boilers Air to water – cylinder-integrated water heater Chillers Solid fuel boilers Solar thermal flat plate collectorsFan coils Radiators Solar thermal vacuum tubesMoveables Towel rails Heat recoveryWindows Electric storage water heaters Micro-CHPAHU Electric instantaneous water heaters BiomassMinisplits Gas storage water heatersChilled ceilings Gas instantaneous water heaters
Cylinders
Products included in the market data, trends and forecasts
Products included in the individual company sales data
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Profiles - Manufacturers
AristonHeating specialist
Italy
BaxiHeating specialist
UK
Bosch ThermotechnikHeating specialist
Germany
DaikinAC specialistJapan/Europe
DanfossComponents specialist
Denmark
CIATAC specialist
France
De Dietrich RemehaHeating specialist
Netherlands & France
FerroliHeating specialist
Italy
RielloHeating specialist
Italy
FujitsuAC specialistJapan/Europe
HitachiAC specialistJapan/Europe
JCIHVAC & R
USA
LGAC specialistKorea/Europe
Mitsubishi ElectricAC specialistJapan/Europe
MHIAC specialistJapan/Europe
SanyoAC specialistJapan/Europe
Toshiba CarrierAC specialist
USA/Japan/Europe
VaillantHeating specialist
Germany
ViessmannHeating specialist
Germany
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Profiles - Distributors
CambielliCentro GammaDeltaEuropa 2000IdroteamIdrotrade
Italy
CealcoGrupo HDFSalvator EscodaThisaAlmagrupo
Spain
Dean & WoodGrahamPlumbase/PlumblinePTS PlumbingWolseley
UK
AlgorelBrossetteComafrancD&CDSCRexelSonepar
France
GC GroupFrigotechnikHAGROReiss Kälte-KlimaGmbH & CoRichter + Frenzel
Germany
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Contents
Part I – Market trends (34 slides)Part II – Market impacts (14 slides)Part III – Supplier analysis (108 slides)Part IV – Distributor analysis (56 slides)Part V – What next? (43 slides)
Profiles:Manufacturers – 19 groups (~ 30 slides per profile)HVAC distributors – 26 companies (~10-15 slides per profile)
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How big is the market in the 5 countries – by volume? (2008)
HEATING
AIR CONDITIONING
RENEWABLES
10.8 Munits
2.8 M units
Domestic boilers4.4 M units
Commercial boilers
0.09 M units
Heat pumps0.2 M units
Minisplits >5kW1.2 M units
VRF0.07 M units
Minisplits < 5kW1.5 M units
Water heaters6.3 M units
Solar thermal3.17 M sq.m.579,700 systems
0.6 M units/systems
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Total market size in 2008 by product,€ million
Market size for Germany, UK, Spain, France, Italy, 2008
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Domesticboilers
Commercialboilers
Waterheaters
Minisplits<5kW
Minisplits>5kW
VRFs Heat pumps Solarthermal
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Key 5 countries - Market trends and forecast heat pumps, by volume (‘000 units), 2003-2012
0
50
100
150
200
250
300
2003 2004 2005 2006 2007 2008E 2009F 2010F 2011F 2012F
Water to waterAir to waterExhaust air
Forces in the AC market – Industry competitionGermanyIndustry Competition- The number of split suppliers, especially in the VRF sector has increased in the last few years.- There are especially additional Chinese companies, which try to get in the market, but the problem is the distribution- Single splits are weather dependent and therefore it can happen that there is a high price competition (DIY) if the weather is bad and a lot of units are on stock.- No production of splits in Germany.- As in former years we have in Germany market segments with very low prices (e.g. DIY stores, Elektrofachmärkte), low prices (Stulz with Haier), and with high prices (e.g. Stulz with MHI, Daikin).- Pre and after sales services are important in Germany, but also product guarantees (e.g. Panasonic 5 years, Daikin 3 years).- Germany is a relatively small split market with many suppliers. The consequence is a strong competition in the market, especially in the tender process.- Products with energy label have increasing importance (energy prices!).
ItalyIndustry Competition- Increased competition due to market downturn in both commercial and residential markets- Easing competitive pressure from new entrants from China in the residential market- Increasing bargaining power of wholesalers and retailers- Consumers more educated to air conditioning product and therefore increasingly demanding- Economic crisis affecting sales- Competitors moving towards commercial market which is less dramatically affected by sales drop- Retail market crash hits Chinese products severely
SpainIndustry Competition- Mature market regarding splits, VRF has market to expand over all in the mini and maxi versions eroding the lower and mid power ranges of chillers.- A large number of companies involved in the minisplit market.- Large size of stock levels, allow a smooth distribution.- Post service and maintenance has become task forces by key players.- High discount levels offered in current environment.
UKIndustry Competition-Partnerships for training between manufactures and distributors-Heating companies e.g. Vaillant and Viessman entering minisplits market thorough OEM agreements with Midea-Heavy discounting expected especially for VRF, as there will be limited amount of projects.-Downturn in market may see less established brands pull out of UK market-The internet will have limited impact on AC as it is engineered
FranceIndustry Competition- Hands on distribution for air conditioning and heating systems- Heat pumps sold through air conditioning and heating distribution networks- Availability of stock and widespread regional presence as a key to success- Mix of distribution routes, but higher control of network via own branches
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Supply market overview – the strategic groups
DanfossJCI
AristonFerroliRiello
BaxiDe Dietrich
Bosch TVaillantViessmann
CIATLGDaikinMitsubishi Electric
FujitsuHitachiMHISanyoToshiba Carrier
OthersOther Europe Heating
German Heating
Europe ACOther Asia ACJapanese AC
This type of distinction will be used in all the presentation, with the same colour code
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Details of overlaps in HVAC and Renewables
Overlap in markets, by value, Europe, 2008, € million*1
AC doing HeatingDaikin
Heating doing ACAristonBoschFerroliRielloVaillant
AC doing Renewables*2
CIATDaikinHitachiMitsubishi EToshiba/CarrierSanyo
Heating Doing Renewables*3
AristonBaxiBoschDanfossDeDietrichFerroli
*1 based on all products and countries relevant for the purpose of this study Riello*2 excluding PV and heat recovery sales Vaillant*3 excluding PV and heat recovery sales Viessmann
€ 497.6 million
€ 137.0 million
€ 69.8 million
€ 33.6 million
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Market share of the 19 groups by country of origin, %
France Heating2%
USA Controls2% Korea AC
3%
Denmark Components0%
Japan AC40%
Germany Heating31%
Italy Heating12%
France AC4%
UK Heating6%
Sum of Total
Country of originSector of origin
Clear leadership of Japan AC and Germany Heating groups
Market share in France of the
manufacturers in heating, cooling andrenewables market,
Euro M(1)
0% 5% 10% 15% 20% 25% 30%
Ariston
Baxi
BT
CIAT
Daikin
Danfoss
Ferroli
Fujitsu
Hitachi
JCI
RenewablesHeatingAir Conditioning
Market share in France of the
manufacturers in heating, cooling andrenewables market,
Euro M(2)
0% 5% 10% 15% 20% 25% 30%
LG
MHI
MitsubishiElectric
De DietrichRemeha
Riello
Sanyo
Toshiba Carrier
Vaillant
Viessmann
RenewablesHeatingAir Conditioning
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Strengths and weaknesses –HEATING
AristonGermany
France
UK
Italy
Spain
Domestic boilers
Commercial boilers
Water heaters
Baxi
Germany
France
UK
Italy
Spain
Domestic boilers
Commercial boilers
Water heaters
Vaillant
Germany
France
UK
Italy
Spain
Domestic boilers
Commercial boilers
Water heaters
Bosch ThermotechnikGermany
France
UK
Italy
Spain
Domestic boilers
Commercial boilers
Water heaters
Tier one
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The suppliers viewed by distributors - Riello
Riello
“Very good technical support / post sale
service”“Large range of
productsIs becoming strong in
renewables”
“Very good at winning public sector bids in Italy”
“Riello brand via dedicated agents only, competitor for
wholesalers
Beretta products via wholesalers”
“Expected to reduce in the French market”
Opinions expressed during interviews with up to 27 leading distributors in Germany, France, UK, Italy, Spain
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Strengths of Mitsubishi Electric
Very strong position in residential and commercial markets
World wide VRF market leader along Daikin
Strong position in the air to water heat pumps
Expanding its share upon the renewables& heating markets, overall in Europe
Strong focus on the CO2 emissions reduction
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The distribution routes in Germany - AC
Distribution for single and multisplits, % of volume
more seldom
Importer/Distributor e.g. Kaut (Sanyo), Stulz
(MHI, Haier), Krone (Delchi), W. Meier
(Fujitsu), Novatherm (Midea, Season), MTF
(Samsung)
Specialized AC Wholesaler Schiessl,
Frigotechnik, Reiss, Fischer, Vogelsang
National sales offices of manufacturer
e.g. Daikin, ME, LG, Carrier, Hitachi
Manufacturer of Heating SystemsVaillant, Stiebel
Eltron, Viessmann
Retailer DIY e.g. Praktiker, OBI, Hagebau,
Promarkt, Toom, Mediamarkt,
Saturn
Contractors AC and S+H wholesale electrician refrigeration (GC Group) JCI installer S+H installer
end user
Manufacturer single & multi splits
Daikin, Airwell, MHI, ME, Hitachi, LG, Carrier, Toshiba, Sanyo, Samsung,
etc
<10% 45 -50% about 5% <=10% 30-35%
The distribution routes in France - heating
Distribution for domesticboilers, % of volume
Installers8%
Retailers10%
Wholesalers82%
Wholesalers (incl. builder merchants)
76%
Installers5%
Retailers (incl. DIY)
19%
Distribution for radiators, % of volume
Retailers (incl. DIY)
5%
Direct supply (house
builders…)8%
Installers9%
Wholesalers (incl. builder merchants)
78%
Distribution for underfloor heating, % of volume
Wholesalers68%
Installers25%
Direct sale7%
Distribution for commercialboilers, % of volume
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The strategy of distributors in France
Turnover 2008 : 3.4 billion €Turnover HVAC: 290 million €
Aims:Renewables (including air-conditioning sales) = +35% per annumHeating sales stable = +1.8%Heat pumps supplied as a heating solution, focus on water to water and air to water productsSole distributor of Viessmann brand in France
Strengths:Product range: ** Strength in renewables: ****
Descours et Cabaud
Strategy
Renewables1.7%
Sanitaryware2.8%
Total turnover92.1%
Heating3.0%
HVAC7.9%
Air Conditioning
0.4%
EU Legislation Timeline
All new building are zero energy
Eco-design of Boiler and Water Heater
Zero energy target on existing buildings
Financial instrument for energy efficiency
Common calculation methodology for energy performance; definition of net zero building
RES Directive
Building regulations include min. renewable energy level
Eco-design of Room Heating, Hot Air Central Heating, Solid Fuel Heater.
SPF calculation of heat pump
National target of energy from renewable sources
EPBDESD
dfe 2008 2009 2010 2012 2013 20142011 2015 2016 2017 2018 2019 2020
Energy saving targetEco-design
of Air Conditioner
National RAP
Eco-design of motor and circulator agreed
National min. energy performance requirements
EPBD 2 fully implemented
National EEAP
•Red = agreed
•Blue = predicted
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Value-Scenario based on products covered by this study- plus Heat Recovery, Micro CHP, Gas Heat Pumps, Gas Fuel Cells - Optimistic Scenario
0%
20%
40%
60%
80%
100%
2008 2010 2012 2014 2016 2018 2020
Heat Recovery Ventilation
Gas Powered Alternatives
VRFs
Minisplits
Solar thermal
Heat pumps
Water heaters
Commercial boilers
Domestic boilers
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Dwindling margin potential
IMPORTANCE
Crucial
High
Medium
URGENCYLow Medium High
Key Challenges for Renewable Suppliers in Europe
Changing energy mix of utilities
New market entrants (e.g. Heating and AC suppliers)
Growing threat of product commodization
Still depending on subsidies
Uncertainty about future subsidies
Rising raw material prices
Rising technical requirements for subsidies
Competition from low carbon energy efficient gas technologies
(micro-chp, fuel cells)
Growing legislative pressure for energyefficiency
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Products/technologiesdue to be launched
Zero Energy Houses Natural Gas Fuel Cells
Heat & Energy Storage SystemsSmart MeteringSolar Cooling
Gas Heat PumpsCO2 Heat PumpsCO2 Mini-SplitsCO2 VRFs
Micro-CHP
System
Integration
BSRIA EU HVAC Vision by 2020
Example of profile from Overlapping study
Bosch company profile
Bosch Thermotechnik Production Plants
Source: Bosch Thermotechnik GmbH
Bosch Thermotechnik Distribution Reach
Source: Bosch Thermotechnik GmbH
Bosch Group Key Figures
Bosch Group 2005 2006 2007Total Sales Revenue 41,461 43,684 46,320 Sales Revenue by Business SectorAutomotive Technology 26,313 27,220 28,449 Industrial Technology 5,187 5,452 5,967 Consumer Goods and Building Technology 9,961 11,012 11,732 Employees 250,975 261,291 271,265 located in Germany 109,575 110,480 112,300 located outside Germany 141,400 150,811 158,965 CAPEX 2,932 2,670 2,634 R & D Expenditure 3,073 3,348 3,583 Profit before Tax 3,178 3,081 3,801 Profit after Tax 2,450 2,170 2,850
Currency figures in millions of euros
Source: Bosch Group
41,46143,684
46,320
3,178 3,081 3,801
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
2005 2006 2007
Sales EBIT
Bosch group development
EUROPEAN BOILERS - Development of Bosch Thermotechnology Group
1932
1988
1992
2004
1996
1999
2003
1967
1997
2003 2004
2002
2004
2005
2007
2008
BOSCH Germany Est. 1886
Robert Bosch GmbH
BO
SCH
TH
ERM
OTE
CN
OLO
GY
BO
SCH
TH
ERM
OTE
CH
NO
LOG
Y (B
T)
Junkers & Co. Germany Est. 1895
Vulcano (Portugal)
Engineering (UK) Worcester
Heat Systems (UK)Delgo Appliances
(UK)
Geminox (France)
e.l.m Le blanc (France)
Elbo (Turkey)
Dakon (Czech Rep.)
Buderus (Germany) Est. 1771
BU
DER
US
HEI
ZTEC
HN
IK G
MB
H
Sieger Heizsysteme(Germany)
Solar Diamant (Germany) Solar thermal
Nefit Fasto (Netherlands)
Gas Abs. Heat Pumps
Boutler Boilers (UK)
Ersol (GermAny) solar PV
IVT (Sweden) Heat pumps
CEC (USA)
FHP (USA) Heat pumps
Bosch Thermotechnik Key Figures
Bosch Thermotechnology GmbH 2005 2006 2007Total Sales Revenue 2,635 2,831 2,798 of which in Germany 975 1,022 870 of which international 1,660 1,809 1,928 Employees 12,640 12,876 13,101 of which in Germany 5,688 5,683 5,618 of which international 6,952 7,193 7,483 CAPEX n.a. 39 49 R & D Expenditure 65 72 83
Currency figures in millions of euros
Source: Bosch Thermotechnik GmbH
2,6352,831 2,798
1,6601,809 1,928
975 1,022870
-
500
1,000
1,500
2,000
2,500
3,000
2005 2006 2007
Sales International Germany
Bosch Thermotechnik Sales by Region
Source: Bosch Thermotechnik GmbH
0%10%20%30%40%50%60%70%
German
y
Europe
America
sAsia
/Afric
a/Aus
tralia
2005
2006
2007
Bosch Thermotechnik Sales by Products
Source: Bosch Thermotechnik GmbH
0%
5%
10%
15%
20%
25%
30%
35%
Conve
ntion
al
Conde
nsing
Renew
able
Hot W
ater
Others
200520062007
Bosch AC global product sales, € million, 2008
Total: €3.4M
AHU €2.9M
Moveables €0.5M
Bosch Heating global product sales,€ million, 2008
Total: €1199.2M
Towel rails €2.0MElectric storage water heaters
€29.1M
Solid fuel boilers €44.3M
Radiators €58.8MElectric
instantaneous water heaters
€21.2M
Gas storage water heaters €2.2M
Gas instantaneous water heaters
€161.7M
Condensing wall hung gas boilers
€421.7M
Oil/gas pressure jet boilers €154.1M
Floor standing atmospheric gas boilers €71.5M
Non-condensing wall hung gas
boilers €232.8M
Bosch Renewables global sales, € million, 2008
Total: €190.6M
Exhaust air/ water (combined with heat recovery)
€27.6M
Solar thermal flat plate collectors
€26.2M
Solar thermal vacuum tubes
€0.6M
Ground/ water to water €95.3M
Air to water – split systems €40.8M
Global turnover by region, value, 2008Asia0.3%
Americas2%
Europe98%
European turnover AC products, € million, 2008
Total: €3.4M
AHU €2.9M
Moveables €0.5M
European turnover Heating products, € million, 2008
Total: €1,130.4M
Condensing wall hung gas boilers
€421.6M
Solid fuel boilers €44.3M
Towel rails €2.0MElectric storage water heaters
€29.1M
Gas storage water heaters €2.2M
Non-condensing wall hung gas
boilers €215.9M
Electric instantaneous water
heaters €17.8M
Gas instantaneous water heaters
€120.5M Radiators €58.0M
Oil/gas pressure jet boilers €149.1M
Floor standing atmospheric gas boilers €70.1M
European turnover Renewables products, € million, 2008
Total: €188.8M
Air to water –split systems €40.8M
Ground/ water to water €93.5M
Solar thermal vacuum tubes
€0.6M Solar thermal flat plate collectors
€26.2M
Exhaust air/ water (combined with heat recovery)
€27.6M
Global market shares, by value
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
0-5%
0-5%
0% 100%
Market shares – Europe, by value
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
5-10%
5-10%
0% 100%
Market shares - Germany
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
10-15%
20-25%
0% 100%
Market shares - UK
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0%
0%
0%
20-25%
20-25%
0% 100%
Market shares - France
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
0%
10-15%
0% 100%
Market shares - Italy
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
0%
5-10%
0% 100%
Market shares - Spain
AC (all)
VRF
Minisplits
Heat pumps
Traditional heating
0-5%
0%
0%
0%
15-20%
0% 100%
Strength in the AC market
Sales of AC products in Europe are negligible
Germany
France
UK
ItalySpain
VRF
Minisplits
Strength in the Heating market
Bosch is historically very strong in the traditional heating business
Germany
France
UK
Italy
Spain
Domestic boilers
Commercial boilers
Water heaters
Strength in the Renewables market
Bosch holds a strong share in the large German market, and also in the UK where total market is much smaller
Germany
Italy
Spain
FranceUK
Heat pumps
Solar thermal
Bosch Thermotechnik – strengths & weaknessesStrengths
Complete range of conventional space and hot water heating productsRelated products: Electric heat pumps; solar thermal collectors; heat recovery systems, biomass boilers, micro-chp, photovoltaic, electric boilers, radiators,ufh Core Markets: Germany; UK; France: Netherlands; New EU members; Significant presence in other Western European, Eastern & Central European markets.Bosch brand name widely recognised by consumers;Buderus brand well established in many marketsManufacture spread across several countries, including those with low labour costs.Profitable group with a taste for acquisitions
WeaknessesLimited presence in the important Italian marketVery large group with difficulties of integration/ co-ordination. “Legacy” technology / production facilities, particularly in Germany.Danger of over-segmentationBrand cannibalisation amongst different brands competing against each other in the same market segmentExpensive marketing due to separate market cultivationSuboptimal use of human and financial resources
Distribution Worldwide
Bosch Boilers are mostly manufactured in-house at several European manufacturing plants and offered under diffferent labels across the company (except for some small biomass boilers being sourced OEMfrom Austria and the Czech Republic).Electric heat pumps and exhaust air heat recovery systems are mostly manufactured by IVT in Sweden and offered under various Bosch brands, while Buderus also source OEM products from Glen Dimplex. FHP products are mostly for the US market.Solar thermal collectors are manufactured in Germany and Portugal by Bosch Solarthermie GmbH (formerly known as Solar Diamant Systemtechnik GmbH) and offered under various other Bosch Brands.Gas Water Heaters are mostly manufactured Germany, Turkey, Portugal and China and offered under various other brands under the Bosch umbrella.PV collectors are currently still being sourced by Centrotec, but are expected to be sourced by ersol Solar Energy AG, after its recent acquisition by the Bosch Group.
Joint venture in Germany
BSH Bosch Siemens Hausgeräte GmbH is a joint venture between Robert Bosch GmbH Stuttgart and Siemens AG Munich set up in 1967. The firm is a multinational group currently posting annual sales in excess of Euro 8.8 billion and 39,000 employees. Six regional brands underpin the company image and high market shares in the respective home countries (Bosch Siemens, Balay, Lynx, Profilo, Pitsos and Continental).
BSHG sells household appliances like washing machines, cookers, etc, and movables (which used to be produced in Spain) mostly via wholesalers and retailers. The firm’s headquarters is located in Munich. For moveables BSHG was one of the major players on the German market.
Distribution in Europe
Bosch Thermotechnik with its broad multi-brand portfolio applies a multi-channel distribution strategy, to achieve maximum-coverage of target groups and maximum market penetration.Major Bosch heating brands include: Junkers; Buderus; Sieger; IVT; FHP; Worcester; Elm Leblanc; Nefit; Vulcano; Elbo; Dakon; Geminox; Boulter. Major production locations are in Germany, France, the Netherlands, UK, Sweden, USA, Belgium, Portugal, Czech Republic, Turkey and China (all heating / water heating products).The Bosch Group is also present in air conditioning via its Buderus and IVT brands (splits) and also via the Bosch Siemens Hausgeraete Joint Venture (moveables).
Distribution in GermanyAs for heating and water heating products (including solar thermal and heat pumps), Junkers and Sieger products are predominately sold via hvac wholesalers in Germany.
Buderus on the other hand has its own dedicated distribution network, which is also used as a channel for other BoschThermotechnik heating products, but also offers non Bosch complementary products such as circulation pumps, pipes, fittings, and heat exchangers.
For moveables BSH was the market leader in 2006 in Germany. In 2007 they closed the production of moveables in Spain and sold out their products during 2008.
In 2009 BSH will be no longer in the market of moveables.
Distribution in the UK
In the UK Bosch is mostly present in the heating and hot water market via the Bosch Worcester brand and the Buderus brand, which work separately and collaboratively.
While Bosch Worcester is predominately selling its domestic product range via an established wholesaler network and gas utilities (e.g. British Gas), Buderus tends to target commercial project specifiers and contractors directly (but is also selling via wholesalers).Bosch Siemens Hausgeräte GmbH is present in the UK via the BSH Home Appliances Ltd. , but was hardly active in the field ofair conditioning.
Distribution in France
In France Bosch is represented by three heating and hot water product brands, including Elm Leblanc, Geminox and Buderus, which again operate on separate positioning strategies that are targeted to complement each other.
All three brands are predominately sold via wholesalers to specifiers and installers, with Buderus being targetet at the premium and large-scale boiler and renewables market, Elm Leblanc towards smaller domestic boilers, and Geminox towards the medium-scale segment up to 200kw.Bosch Siemens Hausgeräte GmbH is present in France via BSH Electroménager, which used to have a medium market share position in the French moveables market via its Bosch and Siemens brands.
Distribution in Italy
In Italy Bosch is represented by three heating and hot water product brands, including Buderus, Geminox and Junkers, which aim at different target groups.
All three brands are predominately sold via agents and wholesalers to specifiers and installers, with Buderus being targetet at the premium and large-scale boiler segment, Junkers towards the medium-scale segment and Elm Leblanc towards smaller domestic boilers.Bosch Siemens Hausgeräte GmbH is present in Italy via BSHElettrodomestici S.p.A., which was hardly active in the Italian moveables market.
Distribution in Spain
In Spain Bosch Thermotechnik is represented by its Buderus and Junkers brands for heating and hot water products.
The two brands are predominately sold via wholesalers to specifiers and installers, with Buderus being targetet at the premium and large-scale boiler segment (also being sold directly to installers) and Junkers towards the small and medium-scale segment.Bosch Siemens Hausgeräte GmbH is present in Spain via BSHElectrodomésticos España S.A., which has closed its production plant near Pamplona and completely pulled out of the Spanish AC market in 2008.
Company news and product development
Expected to launch gas driven heat pump within the next 2 yearsMicro-CHP joint venture with MTS, Enatec and RinnaiNew investments into its solar thermal business (BoschSolarthermie GmbH) to increase manufacturing output to 350,000 collectors p.a. in its German and Portuguese production plants.Plans to further invest €530 million into its photovoltaic business (ersol Solar Energy AG) to triple manufacturing output and create 1100 new jobs in Germany.Plans to enlarge and invest into its UK Worcester plant and to create 1000 new jobsPlans to take over the commercial boiler manufacturer Loos International to strengthen business with commercial steam and hot water boilers.