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Bosch Thermotechnik

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Bosch Thermotechnik GmbH
Company typeGmbH
IndustryHeating technology
FoundedAugust 2, 2004; 20 years ago (2004-08-02)
Headquarters
Wetzlar
,
Germany
Key people
  • Jan Brockmann (Chairman)
  • Vítor Gregório
  • Birte Lübbert
  • Stefan Thiel
  • Thomas Volz[1]
Revenue€5 billion (2023)[2]
Number of employees
14,600[2]
ParentRobert Bosch GmbH
Websitewww.bosch-homecomfortgroup.com

Bosch Thermotechnik GmbH, internationally operating as Bosch Home Comfort Group, is a leading[3][4][5] supplier of heating and cooling appliances (HVAC) worldwide. The company is based in Wetzlar, Germany and generated a revenue of €5 billion in 2023.[2]

Company structure

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The Bosch Home Comfort Group is a subsidiary of Robert Bosch GmbH and operates legally as Bosch Thermotechnik GmbH.[6]

The company operates internationally and manufactures at 17 production sites across Europe, North America and Asia.[7][8][9] The Bosch Home Comfort Group includes the product brands Bosch Home Comfort, Buderus, IVT, Vulcano, and Worcester.[10]

In the 2023 financial year, the Bosch Home Comfort Group generated a revenue of €5 billion and employed around 14,600 people.[2]

History

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Background

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The company's history dates back to the acquisition of heating appliance operations from Junkers & Co. in 1932 by the former Robert Bosch AG (later Robert Bosch GmbH). In 1953, Junkers & Co. relocated to Wernau and started manufacturing gas central heating appliances and control and safety equipment for gas appliances.[11][12]

In the following years, Bosch entered international markets and acquired several companies in the heating technology sector. These included Vulcano Termo-Domésticos (Vulcano), founded in 1977 in Aveiro, Portugal, in 1998,[13] as well as the 1992 majority acquisition of the British Worchester Group, established in 1962. The associated Belgian heater manufacturer Radson was also acquired.[14][15] In 1996, the company took over the French heating technology company e.l.m.leblanc.[16]

In July 2003, Bosch acquired Buderus AG, founded in 1731.[17] Subsequently, the heating technology activities of Buderus and Bosch were merged, and on August 2, 2004, BBT Thermotechnik was established.[18]

The company continued its expansion and acquired IVT Holding AB (IVT), which was founded in Sweden in 1968.[13][19] In 2007, BBT Thermotechnik entered the US market by acquiring FHP Manufacturing.[20]

Bosch Thermotechnik

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In 2008, the company was renamed Bosch Thermotechnik GmbH.[21] The following year, Bosch Thermotechnik acquired Loos Deutschland GmbH from Gunzenhausen, along with all its foreign subsidiaries.[22]

Due to the Paris Agreement, the demand for heat pumps as sustainable heating technologies rose, and as a result, Bosch began investing in hydrogen technologies and heat pumps.[23][3] The heat pump sector was further expanded and in 2022, Bosch Thermotechnik registered a sales increase of around 50%.[24]

On April 1, 2023, Bosch Thermotechnik changed its brand identity and has since been operating internationally as Bosch Home Comfort Group.[25] In the same year, the company announced an investment of €225 million for a new heat pump factory in Dobromierz, Poland[7] and started building a new heat pump facility in Portugal.[26]

In 2024, Bosch announced plans to take over the global HVAC business for residential and light commercial buildings from Johnson Controls. Bosch intends to integrate the acquired businesses into the Bosch Home Comfort Group.[27]

Products

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Bosch heat pump

The Bosch Home Comfort Group manufactures and sells products for the heating, ventilation, and air conditioning markets.[2][28][9] Most notably, the company offers various models of heat pumps.[29][30]

Its products are aimed at both private customers and business clients.[31]

References

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  1. ^ "Executive Management". Bosch Home Comfort Group. Retrieved 2024-07-29.
  2. ^ a b c d e Wells, Elizabeth (2024-07-23). "Bosch reports Billions-deal in Building Technology". Aussiedlerbote. Retrieved 2024-07-29.
  3. ^ a b Buchenau, Martin (2021-07-14). "Die neuen Formen der Heiztechnik". Handelsblatt (in German).
  4. ^ Buchenau, Martin (2021-07-13). "Um die Klimaziele zu erreichen: Bosch will mit Wasserstoff heizen". Handelsblatt (in German).
  5. ^ "Junkers-Bosch wächst mit dem Auslandsgeschäft". Frankfurter Allgemeine Zeitung (in German). 2001-03-28. p. 25.
  6. ^ "Corporate information". Bosch Home Comfort Group. Retrieved 2024-07-29.
  7. ^ a b Santos, Beatriz (2023-04-24). "Bosch to open heat pump factory in Poland". PV magazine International. Retrieved 2024-07-29.
  8. ^ Zhu, Shenshen (2023-04-28). "Innovations for a smart, comfortable and healthy life at AWE 2023". Shanghai Daily. Retrieved 2024-07-29.
  9. ^ a b "Bosch setzt auf Brennstoffzelle". Stuttgarter Zeitung (in German). 2013-03-06. p. 13.
  10. ^ "Bosch Thermotechnik baut neue Werke". Frankfurter Allgemeine Zeitung (in German). 2011-03-16. p. 17.
  11. ^ "Geschichte wird sicht- und greifbar". Stuttgarter Zeitung (in German). 2010-12-15. p. 23.
  12. ^ "Gründung Zwei Traditionsnamen gehören um Bereich Bosch Thermotechnik". Stuttgarter Zeitung (in German). 2015-07-04. p. 13.
  13. ^ a b Everitt, Neil (2023-11-03). "Bosch to invest €100m in Portuguese heat pump factory". Cooling Post. Retrieved 2024-07-29.
  14. ^ "Junkers heizt bald auch in China". Frankfurter Rundschau (in German). 1995-03-29. p. 14.
  15. ^ "Junkers steigert Umsatz besonders im Ausland". Frankfurter Allgemeine Zeitung (in German). 1995-03-29. p. 26.
  16. ^ "Bosch übernimmt Unternehmen in Frankreich". Stuttgarter Zeitung (in German). 1996-04-18.
  17. ^ "Bosch formt mit Buderus Marktführer". Handelsblatt (in German). 2003-11-13.
  18. ^ Giersberg, Georg (2004-07-06). "Die Schwestern Buderus und Junkers". Frankfurter Allgemeine Zeitung (in German).
  19. ^ "Bosch Thermotechnik führt bei Gas-Warmwasserthermen". Frankfurter Allgemeine Zeitung (in German). 1999-03-25. p. 25.
  20. ^ "Bosch übernimmt FHP Manufacturing Company". Haustechnikdialog (in German). 2007-02-01. Retrieved 2024-07-29.
  21. ^ "Das Engagement von Bosch im Bereich der erneuerbaren Energien". Stuttgarter Zeitung. 2009-08-04. p. 9.
  22. ^ "Bosch kauft Kesselhersteller". Stuttgarter Nachrichten (in German). 2009-04-09. p. 14.
  23. ^ Knieps, Stephan (2022-04-14). "300 Millionen fürs Klima". Wirtschaftswoche (in German). p. 6.
  24. ^ "Wärmepumpenbranche rechnet mit 350 000 Neugeräten". Frankfurter Allgemeine Zeitung (in German). 2022-12-29. p. 20.
  25. ^ "Bosch Thermotechnology Rebrands as Bosch Home Comfort Group". Contractor. 2023-04-10. Retrieved 2024-07-29.
  26. ^ "Lieferfristen". Stuttgarter Zeitung (in German). 2023-11-22. p. 9.
  27. ^ Buchenau, Martin; Seckel, Timm (2024-07-24). "Bosch schließt Lücke mit Rekordzukauf". Handelsblatt (in German). p. 16.
  28. ^ "Der Markt für Klimaanlagen wächst". Frankfurter Allgemeine Zeitung (in German). 2009-03-12. p. 19.
  29. ^ Everitt, Neil (2023-04-19). "Bosch commits over €1bn to heat pump production". Cooling Post. Retrieved 2024-07-29.
  30. ^ Bellini, Emiliano (2024-06-06). "Bosch unveils water source heat pumps for residential, commercial applications". PV magazine International. Retrieved 2024-07-29.
  31. ^ "Bosch Thermotechnik. Wachstumsschub durch Groß-Kühlanlagen". Handelsblatt (in German). 2015-07-03.
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