Wood & Panel

Bosch witnesses double-digit growth in 2021

 Wednesday, July 6, 2022

Bosch Power Tools generated sales of 5.8 billion euros in fiscal 2021. That’s around 15 per cent growth compared with the previous year.

“For the second year in a row, we have achieved record sales in a very dynamic environment – despite many challenges such as cost burdens due to supply bottlenecks or price increases for transport and raw materials,” said Hank Becker, chairman of the divisional board of Bosch Power Tools.

He added that the company had a significant increase in demand in 2021. The main growth driver was the online business. It accounted for nearly 30 per cent of sales in 2021. More and more users are taking advantage of digital offerings to obtain information from the comfort of their own homes and subsequently select the ideal tool for their needs. In this sense, the cooperation with multi-channel as well as online retailers is therefore to be further expanded worldwide.

The company achieved double-digit sales growth in all regions for the first time in 2021.
Overall, Bosch Power Tools recorded 19 per cent more sales for Europe year-over-year after adjusting for exchange rate effects. Growth in Germany amounted to 13 per cent. Bosch Power Tools achieved a 10 per cent increase in sales in North America, 14 per cent in Asia Pacific, 34 per cent in Africa, and as much as 37 per cent in Latin America.

The market environment remains challenging for the current year. In view of the high level of uncertainty, it is not possible to make a reliable forecast of business development at the present time.

Battery-powered devices continue to be in particularly high demand. “The opening of our battery platforms with 18 volts was an important strategic milestone. We have thus created two cross-manufacturer systems that are highly appreciated and excellently received by our private and commercial users,” says Becker.

Bosch Power Tools recorded significant growth in both the “Power for All Alliance,” which is geared toward do-it-yourselfers, and the “Professional 18V System,” which is designed for craftsmen.

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