06/26/2023
Source: Energy & Management Powernews
Heating technology supplier Vaillant was again able to strongly expand its heat pump business in fiscal 2022 with sales growth of more than 75 percent.
The Vaillant Group's sales increased by 11 percent to €3.7 billion in fiscal 2022, the company announced on June 23. In particular, high demand for heat pumps, with sales up more than 75 percent, had a positive impact on growth.
Vaillant thus grew significantly faster in this field than the overall European market and is now among the three largest heat pump suppliers in Europe, it said. Sales of gas-fired heating appliances also increased by another 6 percent in an overall declining market, it said.
Since 2016, Vaillant Group's strategic focus has been on expanding its heat pump business. "Vaillant Group built up high capacities in production, development and service at an early stage and today offers its customers a comprehensive portfolio of highly efficient heat pumps for use in both new buildings and the modernization of existing buildings," said Vaillant Group CEO Norbert Schiedeck.
With sales of more than 2.5 million heating systems and almost one million hot water appliances, Vaillant had maintained its position in the global market. Accordingly, the number of employees increased from 16,000 to 17,000. However, the family-owned company did not provide any information on profits.
New factories for heat pumps and electronic components
Depending on future market developments, Vaillant plans to invest up to €2 billion in its growing heat pump business, including ongoing projects. According to the company, the main areas of investment are the expansion of production and development capacities as well as the expansion of the range of services for specialist trade partners.
In autumn 2023, series production will start in a new mega-factory in Slovakia, where heat pumps will be produced exclusively. This will double the Vaillant Group, which already manufactures heat pumps in Germany, France and England, its production capacity to well over 500,000 heat pumps per year.
High investments continue to flow into the company's headquarters in Remscheid. A factory is currently being built there where electronic components will be manufactured in the future. As early as 2024, all Vaillant Group locations worldwide are to be supplied from this production facility with electronic assemblies that are necessary for regulating and controlling modern heat pump systems.
In product development, the company is focusing on heat pumps that operate with the natural refrigerant R290, which does not contain any chemicals that are harmful to health. At the same time, this refrigerant enables high flow temperatures. As a result, these heat pumps can provide heating and hot water comfort not only in new buildings, but also in older, less insulated existing buildings. From 2025 onwards, Vaillant intends to launch only heat pumps with this refrigerant.
Author: Heidi Roider
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