Bosch Reports Double-digit Growth Over 5 Years

• 4 October 2016
• Local News
• 1587 Views

Bosch, a leading global supplier of technology and services, saw double-digit growth in 2015, celebrating its fifth consecutive year of double-digit growth since entering the Cambodian market in 2010.

Founded in 1886 in Germany, Robert Bosch supplies six business lines in Cambodia; automotive aftermarket, power tools, security systems, drive and control, thermotechnology, and household appliances.

Though automotive aftermarket is the company’s main business worldwide, the construction power tools and automotive business sectors which entered Cambodia in 2004 and 2005 have driven its Cambodian sales andcontinue to do so today.

“Cambodia is a key growth market for Bosch in Southeast Asia.The country has experienced stable economic growth of around 7 percent for the last five years, in particular in the automotive and construction industries,” said Andre de Jong, Managing Director of Robert Bosch (Cambodia) Co., Ltd. “As a market leader in automative technology, security systems and power tools, Bosch has much to offer in enhancing the quality of product offerings for these two sectors to contribute to raising industry standards.“

According to the company’s report issued in July, the strong double-digit growth in Cambodia, especially in power tool sales, was largely buoyed by the kingdom’s growing construction industry which saw total investment soar by 33 percent in 2015 to USD3.3 billion.

To propel greater growth, Bosch launched the “Contractor’s Choice” series in August 2015, a new, redesigned range of power tools that remain rugged and reliable, yet at an affordable, mid-price range.

The report also noted that its Mobility Solutions business sector recorded positive growth in Cambodia last year, in line with the country’s growing automotive market. According to the Ministry of Public Works and Transportation, the number of registered vehicles in Cambodia increased by 14 percent in 2015 to more than 3.2 million, of which 2.7 million were motorbikes.

The flourishing construction industry also presented opportunities for Bosch’s Energy and Building Technology business sector to offer safety and security solutions for property developments such as condominiums, offices, and hotels. With security cameras and access control systems as the main drivers, this division registered a double-digit sales growth in 2015 compared to the previous year.

The Industrial Technology business sector which was introduced to Cambodia in early 2015 made inroads into the market with the introduction of its Drive and Control Technology division to explore opportunities and support the broadening of its local manufacturing base, as part of the kingdom’s Industrial Development Policy (IDP 2015-2025). The division delivers solutions for the manufacturing, agriculture, mining, energy, and construction industries to drive and control the moving parts of industrial machinery.

Moving ahead, the Bosch Group worldwide set its 2016 outlook to continue on its growth trend from 2015. The group expects worldwide sales to grow within 3 to 5 percent in 2016 by planning to grow not only with innovative products, but also with innovative services, according to Bosch Group CEO, Volkmar Denner.

Bosch’s plans for Cambodia in the coming years, according to Andre de Jong at the press conference to launch the report press on 26 July, are to continue expanding its market by offering products in all 25 provinces, disseminating Bosch products and awareness of them to people and promoting safety in the industries.

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