Through our engineering expertise and flow control solutions for hydronic balancing, pressurisation, water quality and thermostatic control, we optimise heating and cooling systems for commercial and residential buildings. Collaborating with designers, architects and installers, we deliver product solutions that enable significant energy savings, helping our customers reduce their CO2 emissions whilst creating comfortable living and work environments.
Market trends and our response
Our Climate Control sector is at the forefront of the HVAC industry, working closely with customers to develop solutions that address their needs and drive positive environmental impact.
Our market is facing a combination of industry drivers and challenges. Demand for our products is being driven by increasing regulation, geopolitical factors and customer focus on energy-efficiency and cost. The revised EU Energy Performance of Buildings Directive, which came into force in 2024, supports the digitalisation of energy systems for buildings and, by 2029, controls will be mandatory in large and small buildings. In Europe, energy supply and security remains a focus given ongoing geo-political tensions, with countries seeking to implement energy-efficiency schemes including more thermostatic control, particularly in Germany – our biggest market. In addition, further regulation is under evaluation to make hydronic balancing – the process of optimising the distribution of water in a building’s hydronic heating or cooling systems – mandatory in multi-unit housing. This presents a significant opportunity for our residential portfolio.
We continue to build on our customer intimacy and application expertise, creating intelligent and cost-effective connected solutions. Our connected products allow customers to control their buildings and dynamically manage heating and cooling systems through data-driven insight and solutions. We continue to further develop our portfolio to meet increasing customer requirements, including TA-Smart, a connected control valve with measurement capabilities providing best-in-class control performance, energy savings and seamless installation.
We have transformed our commercial model, adding greater structure and centralised capabilities in pricing, go-to market and portfolio management. This is enabling us to execute our growth strategy consistently and enhance our portfolio globally. We have had good growth in a number of verticals in 2024, including data centres, where Climate Control’s solutions are critical to performance. We remain well-positioned in hospitals, manufacturing, hotel chains and OEMs.
Global new construction was challenged in 2024, which we countered through revenues from retrofit projects and increasing sales of connected products.
Revenue
IMI growth target
Creating a better world through sustainable solutions
As the world continues to move towards more sustainable solutions, we are committed to providing our customers with the most sustainable products possible. We will continue to innovate and invest in clean technologies to produce industry leading and climate-conscious products that empower our customers to be the sustainability leaders of their own industries.
Creating value in Climate Control
We create intelligent heating and cooling systems that help our customers reduce energy consumption, improve building comfort and combat climate change.
How saving energy starts with seeing energy
A digitally connected valve from IMI Hydronic can help cut a business's carbon footprint
2024 highlights
– Thousands of customers, installers and building designers attended training sessions hosted by our Hydronic College associates
– Revenues from our TA-Smart product grew by over 50% in 2024. We continue to invest in the product, building capability in software controls and planning deployment in our pressurisation and water quality offering, building a more integrated system across our products and applications
– High level of customer satisfaction maintained during 2024, with Net Promoter Score of 60 points (2023: 59 points), well above the industry benchmark
Priorities for 2025 and beyond
Accelerating innovation, utilising Growth Hub, is a priority for the sector and we have planned several exciting new product launches for 2025. In commercial buildings, we’re launching a compact control product for small spaces that installs quickly and ensures precise system balancing, along with a new dirt separator to protect HVAC systems. For residential buildings, we’re introducing an electronic radiator valve, which we will scale rapidly across our European markets, building on our strong relationships with professional installers.
In 2025, we will continue to strengthen our customer experience through new digital tools, giving us greater visibility and data insights, as well as easier purchasing access for customers. Our new AI tool will allow customers to upload project specifications and receive digital recommendations on products in our portfolio. We believe this will be transformational for customers. We will also continue to pursue attractive acquisitions in both the residential and commercial space.