Market review
Opportunities and challenges in a dynamic environment
2024 was marked by economic challenges that affected the energy and construction industries in particular. Energy prices remain volatile due to geopolitical events, and growth in our core European residential markets is slowing down.
In the construction industry, rising costs, higher interest rates, general inflation and a decline in new residential construction activity have led to a slight market slowdown. Hager responded to these developments with strategic measures.
The energy transition has also presented challenges to the building sector. Following a boom in photovoltaics, heat pumps and electric vehicle charging solutions in previous years, growth slowed in 2024.
For the building sector, achieving climate targets remains a top priority. It must now undergo a profound transformation by using green energies, promoting electrification, and improving energy efficiency. The ongoing digitalisation trend also creates new growth opportunities for Hager – like data centre development. With our comprehensive offerings in project business and energy management, Hager has taken a decisive step toward entering these markets. Our goal is clear: to intelligently electrify all types of buildings and thereby reduce their CO₂ emissions.
Digitalisation is the key to unlocking sustainable buildings – where intelligence and efficiency power a better future.
Sharpening our customer focus
We have set clear priorities for our business activities: enhancing customer-centricity, advancing digitalisation, and investing in new technologies and areas of expertise.
Because customer satisfaction is part of our DNA, we wanted to know where we stood in 2024. To this end, we measured customer satisfaction and undertook surveys with electrical installers, panel builders, planners, and electrical wholesalers internationally. This enabled us to identify areas for improvement. As a result we refined the content of our personal visits and digital applications; our customers also benefit from new and improved tools, such as online configurators, HagerCad and HagerReady planning software, and an expanded digital training offer.
Our three business areas
In our core Diffuse Business we provide electricians and electrical wholesalers with safe, easy-to-install, high-performance products and systems. Our goal is to expand and consolidate our leading position in residential and commercial construction in our core markets. To this end, we have invested heavily in providing digital product information and integrated e-commerce solutions to accommodate the electrical trade and wholesale sector's new procurement habits. Additionally, we are modernising our end-to-end digital demand and production planning to increase product availability, strengthen the supply chain, and improve delivery accuracy.
Acquisition of advizeo in October 2024
advizeo is a recognised market leader in energy management services and building monitoring software. Its main customers are public and commercial building owners and operators. Following our acquisition of efficiency software company Eficia in 2023, the takeover of advizeo has accelerated our expansion into the energy services sector in response to growing challenges in the energy and environmental fields.
Growth around the world
Supply and energy crises in Europe, as well as the war in Ukraine, have impacted our residential business in Europe. However, Southeast Asia, Australia, the Middle East, and the US have recorded significant revenue growth. Electrification is gaining momentum worldwide. Hager is very well positioned due to our comprehensive portfolio and strong partner network to address these opportunities.
Outlook:
Despite the challenges, 2024 was a year of important strategic decisions aimed at making the electrical world safer, more efficient, and smarter – and at actively shaping key industry trends. Demand for smart, sustainable electrification, energy management, and flexible building solutions will continue to grow.
In our Project Business we design custom solutions with our customers based on our standardised portfolio. We aim to establish ourselves as a leading supplier of power electrical distribution solutions from midsized commercial and industrial to large and critical buildings. Milestones include introducing the new generation of open circuit breakers up to 6.300 amps, revising the main distribution systems – Unimes H and Quadro Evo – and commissioning our new high-performance testing laboratory, Taranis, in Obernai, France.
In 2024 we increased our Project Business expertise, enlarged our team, and strengthened our range of systems and solutions for selected building segments, taking advantage of our growth opportunities.
We significantly expanded our digital service portfolio in the field of energy management with the acquisition of advizeo, further consolidating our strong position in energy management services. advizeo is a leading company in the collection and analysis of energy consumption data, and consults on the optimisation of energy flows in buildings to meet regulatory requirements, improve energy efficiency and reduce CO₂ footprints.
Bidirectional charging is a forward-looking field. Our experts expect a relevant market for it to develop by 2028. We are preparing for this, both as a solutions manufacturer and as a system integrator that intelligently connects energy usage for mobility and buildings.
Together with Audi we conducted a three-year field trial that ended in July 2025 and we are currently analysing the results. The goal here is to integrate electric vehicles into the energy ecosystem as storage solutions, electricity suppliers, and flexible links between the grid and buildings.