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The Bosch Group said today that it has completed the largest acquisition in its history. The purchase of the residential and light commercial heating, ventilation and air conditioning (HVAC) business from Johnson Controls, and the acquisition of the Johnson Controls-Hitachi Air Conditioning joint venture. They were completed as scheduled on 31 July. The contracts were signed roughly one year ago. The purchase price of 8 billion U.S. dollars (~€7.4 billion) is subject to customary adjustments.
“The entire HVAC industry is in a state of upheaval, and the market and technologies are changing. Bosch is systematically taking advantage of its opportunities and is now moving up to the Champions League in the heating, ventilation, and air conditioning solutions business,” said Stefan Hartung, chairman of the Bosch board of management.
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With the acquisition, the Bosch Home Comfort division almost doubles in size to more than 25,000 associates and more than €8 billion in sales. This expands its presence, especially in America and Asia. It makes Bosch one of the largest suppliers in the market for heating, ventilation, and cooling of residential and small commercial buildings worldwide.
With the new lineup, Home Comfort wants to grow significantly faster than the global HVAC market. According to Bosch estimates, this will increase by up to 5% every year until 2030.
“Bosch wants to be one of the leading companies in each of its industries by 2030 and is expanding its business with strategic investments in growth areas, among other things. Acquisitions are also part of the strategy,” said Christian Fischer, deputy chairman of the board of management and responsible for strategic growth initiatives and portfolio management. “The current acquisition perfectly complements our portfolio. We can now offer our customers the entire range of HVAC technologies – from a single source and worldwide,” said Fisher.
The acquisition also includes company investments and joint-venture interests, among other things, in component manufacturers and sales partners. “These investments are expected to make a significant contribution to the financial result of Home Comfort in the future,” Bosch said.
Market for A/C Growing Globally
The global market for heating, ventilation, and air conditioning systems amounted to more than 150 billion euros in 2024, according to Bosch analyses. Air conditioning systems alone accounted for two-thirds of this. Demand will continue to increase significantly in the coming years, owing to global warming as well as other factors. According to Bosch’s forecast, sales of air conditioning units worldwide are expected to increase to more than 200 million units per year by 2030, almost a fifth more than in 2024.
“We want to help shape this market and use energy-efficient solutions to ensure that people can make their everyday lives comfortable and healthy, even on increasingly hotter days, whether at home, at work, or while shopping,” said Frank Meyer, who is responsible for energy and building technology and thus also for the Home Comfort division at Bosch. According to calculations by the International Energy Agency in 2018, a global temperature increase of only one degree Celsius by 2050 will increase the need for cooling worldwide by 25%. Reputable climate researchers are now forecasting significantly greater global warming.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Bosch Finishes Largest Acquisition in Its History
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The Bosch Group said today that it has completed the largest acquisition in its history. The purchase of the residential and light commercial heating, ventilation and air conditioning (HVAC) business from Johnson Controls, and the acquisition of the Johnson Controls-Hitachi Air Conditioning joint venture. They were completed as scheduled on 31 July. The contracts were signed roughly one year ago. The purchase price of 8 billion U.S. dollars (~€7.4 billion) is subject to customary adjustments.
“The entire HVAC industry is in a state of upheaval, and the market and technologies are changing. Bosch is systematically taking advantage of its opportunities and is now moving up to the Champions League in the heating, ventilation, and air conditioning solutions business,” said Stefan Hartung, chairman of the Bosch board of management.
Click for more.
With the acquisition, the Bosch Home Comfort division almost doubles in size to more than 25,000 associates and more than €8 billion in sales. This expands its presence, especially in America and Asia. It makes Bosch one of the largest suppliers in the market for heating, ventilation, and cooling of residential and small commercial buildings worldwide.
With the new lineup, Home Comfort wants to grow significantly faster than the global HVAC market. According to Bosch estimates, this will increase by up to 5% every year until 2030.
“Bosch wants to be one of the leading companies in each of its industries by 2030 and is expanding its business with strategic investments in growth areas, among other things. Acquisitions are also part of the strategy,” said Christian Fischer, deputy chairman of the board of management and responsible for strategic growth initiatives and portfolio management. “The current acquisition perfectly complements our portfolio. We can now offer our customers the entire range of HVAC technologies – from a single source and worldwide,” said Fisher.
The acquisition also includes company investments and joint-venture interests, among other things, in component manufacturers and sales partners. “These investments are expected to make a significant contribution to the financial result of Home Comfort in the future,” Bosch said.
Market for A/C Growing Globally
The global market for heating, ventilation, and air conditioning systems amounted to more than 150 billion euros in 2024, according to Bosch analyses. Air conditioning systems alone accounted for two-thirds of this. Demand will continue to increase significantly in the coming years, owing to global warming as well as other factors. According to Bosch’s forecast, sales of air conditioning units worldwide are expected to increase to more than 200 million units per year by 2030, almost a fifth more than in 2024.
“We want to help shape this market and use energy-efficient solutions to ensure that people can make their everyday lives comfortable and healthy, even on increasingly hotter days, whether at home, at work, or while shopping,” said Frank Meyer, who is responsible for energy and building technology and thus also for the Home Comfort division at Bosch. According to calculations by the International Energy Agency in 2018, a global temperature increase of only one degree Celsius by 2050 will increase the need for cooling worldwide by 25%. Reputable climate researchers are now forecasting significantly greater global warming.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.