Heating technology company Nibe is entering the air-to-air heat pump market, a new strategic move confirmed by the company to Dagens industri.
The expansion comes as the firm launches air-to-air heat pumps sourced from Mitsubishi. However, this new segment is characterized by fierce competition and thin margins. According to sources speaking to the newspaper, the departure from Nibe's exclusive focus on the premium segment is viewed as something of a complete U-turn. One source described the entry into this market as being 'entirely against Nibe's fundamental DNA.'
'Air-to-air heat pumps represent a large segment in several markets and have long been considered a relevant complement to our established solutions. Our installers, in particular, have requested a product range from us in this area,' CFO Hans Backman stated to the newspaper via email.
NIBE Industrier AB is a leading company specializing in the manufacturing and marketing of heating systems and products in Europe. Net sales (including intragroup) break down by family of products as follows:
- heating and air-conditioning systems (63%): heat pumps, air conditioning systems, solar heating systems, household boilers, water heaters, cooling equipment, ventilation systems, solar panels, etc.;
- components and solutions for heating control and metering (27.2%);
- wood stoves (9.8%).
Net sales are distributed geographically as follows: Nordic countries (18.5%), Europe (44%), North America (31.1%) and other (6.4%).
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