Renovation boom revives home and building technology sector

Germany’s home and building sector has recorded significant growth in 2021, building on continuous revenue increases since 2018. The domestic home and building sector recorded significant growth in 2021 according to the results of a report commissioned by the Federation of German Heating Industry (BDH), the German Sanitary Industry (VDS) and the Building and Energy Trade Association (VdZ). Turnover in 2021 was up 5.7 percent to EUR 64.4 billion, with industry voices forecasting EUR 70 billion turnover for the year ahead. The heating sector accounted for the lion’s share of revenue at EUR 39.5 billion, followed by the plumbing sector with EUR 24.9 billion in annual turnover. The continued strong growth in the market has its roots in a number of developments including private residential renovation measures driven by the country’s 2020 climate package as well as international measures to protect the climate. According to the report authors, the year ahead will be defined by changes in housing demand and non-residential building land as a result of the new conditions – including home working and an upturn in purchasing of single-family homes further away from the workplace – created by the Covid-19 pandemic. Single, two- and multi-family house building is also expected to grow, with the building services sector benefiting from residential construction developments.