Power Tools

In all regions and business segments: Bosch Power Tools achieves strong growth Speech by Henning von Boxberg,
President of the Power Tools Division of Robert Bosch GmbH
on the occasion of the press conference in Leinfelden on March 18, 2015

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  • March 18, 2015
  • Power Tools
  • Presentations

press release

Ladies and Gentlemen,
2014 was a strong year for the Bosch Power Tools Division. Globally, we generated sales of 4.2 billion euros, which equates to nominal growth of five percent year-on-year. After adjusting for currency effects, our sales grew by six percent. The overall workforce has remained steady at around 19,000. Our employees are geographically distributed across 37 locations in 17 countries.

All regions contributed to our global sales growth. Bosch Power Tools grew seven percent in Europe. Growth in Western Europe is also seven percent, driven in particular by Germany and the United Kingdom – two of our key markets, which saw strong growth of 16 and 14 percent respectively. Sales in Eastern Europe rose eight percent – despite the Ukraine crisis. In North America, we posted a five percent increase in sales. The Asia/Pacific region grew seven percent. The positive development in this region is due in particular to strong growth in China and South Korea, both of which were up ten percent, and in Japan, up nine percent. Sales rose eight percent in each of the emerging markets Africa and Latin America. Globally, Bosch Power Tools has shown very homogeneous growth. Overall, the Division generated around 85 percent of its sales outside of Germany in 2014.

In 2014 we outperformed the overall market in which we operate. While we boosted our sales by six percent, the market grew four percent to 25.6 billion euros during the same period after adjusting for currency effects. The important submarket for power tools grew five percent to 11.8 billion euros. Similar in size is the market for accessories. It came in at 10.1 billion euros, representing growth of three percent. The DIY garden tools segment also grew three percent to 2.7 billion euros. The measuring tools segment continued to develop at a particularly dynamic pace, with growth of eleven percent. Market volume is now one billion euros.

Globally, Bosch Power Tools is the market leader in three of the four business segments in which it operates: power tools, accessories and measuring tools. We are now ranked number two worldwide in the DIY gardening tools segment. In Europe, we are the market leader in all business segments.

Innovation is growth driver
Our innovative strength is the key to our current and future success. In 2014 we achieved some 35 percent of our sales with products that are less than two years old. I would like to give you three examples of these: in the professional segment, we successfully launched a system for inductive charging of batteries: the "Wireless Charging System". We have tailored this product to the specific needs of tradespeople for ease of use, robust design, more flexibility and higher productivity. This new technology allows users to work more efficiently because the charging process is integrated into the workflow.

Our easy-to-use measuring tools are a testimonial to the fact that you can change the market with innovative products. Our new generation of laser measures has attracted many new users, from tradespeople to do-it-yourselfers. In the last two years we have launched a whole family of tools featuring self-explanatory single-button operation. They include the PLR 15 laser measure for do-it-yourselfers, its counterpart for the North American market, and the GLM 30 Professional laser measure for professional users. Overall, we have sold more than one million units of these tools since rollout in late 2013. In doing so, we not only exceeded our own expectations, but also created a new market: the market for easy-to-use, affordable laser measures. Our growth in this segment has given a substantial boost to the market for measuring tools. We have been so successful in serving the needs of our users that we have created a new market – as we did with the pioneering Ixo, the first power tool to feature the then-revolutionary lithium-ion battery.

When we launched the Indego robotic lawnmower in 2013, we started a new trend in effortless gardening. Today we are shaping this trend: in the beginning of this year, we launched a smart version of the Indego. The key word is connectivity: the Indego 1200 Connect can be operated easily and conveniently from any location using our app for smartphones and tablet devices. For instance, you can have your lawn looking it's best for an afterwork barbecue with friends – all from the convenience of your office.

These examples show that Bosch innovation meets the needs of users. They even create new markets. We will continue to hold this course in 2015. In Germany alone, we will again launch more than 100 new products onto the market.

Strategic growth segments: Innovation, emerging markets, online
We will continue to focus on innovation as a strategic growth area for Bosch Power Tools while maintaining a strong emphasis on cordless, sensors and connectivity. We have also identified great potential in emerging markets. We are already catering to markets such as Brazil, Russia, China, India and Africa with products tailored to the needs and purchasing power of users in these regions. Last but not least, we are constantly working to utilize the Internet as a rapidly growing communication and sales channel. We are incorporating technical advances in areas such as connectivity into development of new products. Our focus is always on users and their needs: this is the guiding principle behind our work and the basis for our further growth.

Forecast: The goal is further growth
In 2015 we aim to implement the Bosch slogan "Invented for life" by bringing exciting new products to our users. Our growth target for next year is once again to outpace the market, to gain further share in these highly competitive markets and to consolidate our leading position in the various business segments. We established a basis for this in 2014.

I would like to finish my speech by briefly recapitulating the main points:

  • Bosch Power Tools is the market leader – and we are still on course for success.
  • We continue to design products tailored to the needs of the user.
  • Innovative products are the key to our success. Not only that: by innovating, we continue to open up new product segments.
  • In the years ahead, we see especially great potential in emerging markets and online – with all advantages this may include.
Thank you for listening.

The Power Tools Division of the Bosch Group is one of the world’s leading providers for power tools, power tool accessories and measuring tools. In 2015, its roughly 20,000 associates generated sales of 4.5 billion euros, about 85 percent of which outside of Germany. With brands such as Bosch, Skil and Dremel, the division stands for customer focus and great engineering progress. The core success factors are innovative strength and pace of innovation. The division generated about one third of its sales in 2015 with products that have been on the market for less than two years. In 2016, Bosch Power Tools will again launch more than 100 new products onto the German market in its four business segments power tools, accessories, measuring tools and garden tools.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

Further information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

RF00248 - March 18, 2015

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