Non-organic growth opportunities in the heating market in the DACH region: Exploring expansion strategies and market potential.

The project provided the client with valuable insights and a strategic roadmap for potential M&A activities, enabling them to make informed decisions and successfully enter the DACH heat pump market.


  • Understanding of the supply chain and distribution channels within the heat pump industry, including insights into internal and external distribution networks, installers’ networks, and regional service and customer support structure.
  • Mapping of medium and large heat pump producers in Germany and Austria, followed by an analysis of regional suppliers & installers.
  • Evaluation of the complementarity between targeted companies’ heat pump portfolios and other areas of heating devices, providing insights into potential synergies and market positioning.


  • Identify the significant SMEs and large producers of heat pumps in Germany, Switzerland, and Austria.
  • Analyze the manufacturing capabilities of the identified companies in terms of heat pump production.
  • Determine the proportion of heat pumps for the housing sector in the portfolio of the targeted companies.
  • Assess the complementarity of the targeted companies’ portfolios with other areas of heating devices.
  • Evaluate the supply chain and heat pump distribution channels, considering internal and external distribution networks.
  • Examine the network of installers and the structure of regional service and customer support in the heat pump industry.
  • Analyze the financial results of the targeted companies over the past five years, with a focus on the importance of heating/heat pump businesses.
  • Identify past joint venture companies involved with the targeted companies in the heat pump industry.
  • Determine the ultimate decision maker within the company regarding M&A processes related to heat pump businesses.


  • Western Europe
  • Central & Eastern Europe
  • Middle East
  • Africa
  • North America
  • South America
  • Other
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