Energy - Stiebel Eltron suffers from a slump in orders for heat pumps
The heat pump manufacturer Stiebel Eltron has had a turbulent year. A strong first half of the year was followed by a weak second half, according to Managing Director Kai Schiefelbein. Ultimately, the Holzminden-based company will have sold around 110,000 heat pumps - 30,000 more than in the previous year. The company is looking ahead to 2024 with concern.
"The order intake at the moment doesn't bode well at all. There is a strong downward trend," said Schiefelbein. After the heat pump boom in the first half of 2023, many customers opted for gas and oil boilers in the second half of the year. Presumably also due to the debate surrounding the Heating Act. Customers are currently adopting a very wait-and-see attitude on the market. "At the moment, heating systems are only being replaced when a heating system breaks down," said Schiefelbein. People are waiting and seeing whether and what subsidies are available in the coming year.
This is a difficult situation for the heat pump manufacturer. If the market does not pick up quickly and demand in the first three months remains at roughly the same level as in December, the company will have to reduce its workforce. A clear contradiction to the company's goals, which actually anticipate growth. In the medium term, Stiebel Eltron expects demand for air-to-water heat pumps from Holzminden alone to increase from 70,000 in 2023 to 200,000 in 2027. However, it is of course not possible to keep employees on the payroll for a while.
The company in southern Lower Saxony has already pushed ahead with its growth plans in 2023. In the year just ended, around 150 million euros were invested, and this figure is set to rise to over 600 million euros by 2027. Among other things, the company headquarters in Holzminden is to be expanded. In addition, a new site was recently opened in Höxter in North Rhine-Westphalia and the company is gradually taking over parts of a former Conti site in Gifhorn and plans to employ 300 people there from 2027.
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- Despite the challenging turn of the year, Stiebel Eltron, the heat pump manufacturer based in Holzminden, Germany, aims to increase demand for their air-to-water heat pumps from 70,000 to 200,000 units in Holzminden alone by 2027.
- Amidst an order slump, Managing Director Kai Schiefelbein of Stiebel Eltron expresses concern about the upcoming year, as the current market trend suggests a strong downward trend, leading many customers to opt for gas and oil boilers instead of heat pumps.
- As a response to the slump in orders for heat pumps, Stiebel Eltron, located in Lower Saxony, has already invested around 150 million euros in 2023 and plans to invest over 600 million euros by 2027, to expand their headquarters in Holzminden and open a new site in Höxter, North Rhine-Westphalia.
- Confronted with the market downturn and a wait-and-see attitude among customers, the heat pump manufacturer Stiebel Eltron in Holzminden is considering reducing its workforce if the demand in the first three months of the new year remains at the same level as in December.
Source: www.stern.de
