Bosch UK and Ireland achieved consolidated sales of £3.3 billion (€3.8 billion) in the 2024 fiscal year, marking a significant milestone for the company in the region. The Mobility Aftermarket division played a pivotal role in this performance, continuing its steady growth trajectory. Additionally, Bosch expanded its presence by entering the UK medical technology market through its ITK Engineering division and introducing the Secure Truck Parking platform.
Business Developments and Market Outlook
Recent UK government legislation, including revisions to the Zero Emission Vehicle (ZEV) mandate, has provided greater clarity for the automotive sector. Bosch advocates for further support, specifically recognizing hydrogen-powered internal combustion engines as low-emission technologies to encourage investment in decarbonizing heavy-duty and off-highway vehicles.
Steffen Hoffmann, Managing Director of Bosch UK and Ireland, acknowledged the challenges posed by global economic conditions but highlighted the company’s resilience. He emphasized the importance of stable regulations and expressed optimism about the potential of hydrogen technologies to contribute to the UK’s net-zero goals.
Sector Performance Highlights
- Mobility Aftermarket: This division remains Bosch’s largest in the UK and Ireland. The growth is attributed to increased vehicle longevity and a focus on training technicians in electric vehicle maintenance. Bosch trains over 300 apprentices annually across its UK centres, addressing the industry’s skills shortage. (Bosch in the United Kingdom)
- Consumer Goods: The division saw increased sales, particularly in home appliances. BSH Hausgeräte introduced a Matter-capable fridge-freezer, aligning with the growing trend of smart home integration.
- Energy and Building Technology: The uptake of heat pumps contributed to positive developments, although the boiler market faced challenges. Bosch anticipates growth in this sector, especially with the planned acquisition of HVAC businesses from Johnson Controls and Hitachi.
Strategic Initiatives and Innovations
- ITK Engineering: This subsidiary specializes in customized software and systems engineering for the medical technology sector. With over 30 years of experience, ITK Engineering offers support in regulatory-compliant medical device development, embedded systems, AI-assisted engineering, and cybersecurity. (Bosch in the United Kingdom)
- Secure Truck Parking: Bosch launched this platform in the UK, starting with the Red Lion truck stop in Northampton. The system provides real-time booking, digital billing, and enhanced security features, addressing the industry’s need for safe parking solutions. (motortransport.co.uk, Northampton Chronicle and Echo)
Looking Ahead to 2025
Bosch projects moderate global economic growth of 2 to 2.5 percent for 2025, with a more robust recovery expected in 2026. The company plans to continue its focus on innovation, particularly in artificial intelligence, hydrogen technologies, and energy-efficient solutions. Sustainability remains a core priority, with initiatives aimed at reducing carbon emissions and enhancing energy security.
Bosch’s UK and Ireland operations continue to be a vital part of its global strategy, contributing to the company’s overall growth and commitment to technological advancement.
Bosch Corporate Sector Research and Advanced Development, Renningen, Germany Picture on Wikimedia by Pjt56
