Business Model & Value Chain

Belimo is the global market leader in the development, production, and sales of field devices for the energy-efficient control of heating, ventilation, and air-conditioning (HVAC) systems. The focus of its core business is on damper actuators, control valves, sensors and meters. Belimo actuators control air dampers and valve positioning in HVAC systems, ensuring precise airflow and temperature control. The Company provides a wide range of control valves (e.g., pressure-independent valves) used for heating and cooling systems. Its sensors monitor air quality, temperature, humidity, and pressure, and are crucial for modern building automation. With decades of experience, Belimo is recognized as a leading innovator in HVAC control solutions with numerous patents and several industry-first proprietary technologies introduced to the market over the past 50 years.

Business Model

Belimo’s business model centers on delivering HVAC field devices that address the evolving needs of the global building industry, focusing on innovation, customer relationships, and sustainability. By aiming at product quality, durability with minimal maintenance, and highly innovative, technically advanced solutions, the Group has established itself as a preferred choice in high-performance applications in large commercial buildings such as data centers, hospitals, schools and universities, offices, governmental buildings, infrastructure and industrial sites.

Belimo is committed to developing and providing clean technologies in the commercial building sector. Through its actuators, valves, and sensors, Belimo improves building performance, enhances indoor air quality, increases efficiency by reducing installation, commissioning, and maintenance effort, and reduces energy consumption. These improvements ultimately minimize the environmental impact of the building industry and increase its process efficiency.

Through continuous industry-leading investments in Research and Development (R&D) to develop smart, connected devices, Belimo is shaping the future of sustainable building technology. Additionally, the Group's dedication to sustainability extends beyond its products, as demonstrated by initiatives like the Belimo Climate Foundation, which aims to reduce emissions and support climate action.

Belimo collaborates closely with original equipment manufacturers (OEMs) of HVAC systems and system integrators who incorporate Belimo products into large-scale HVAC projects. Approximately 44% of Belimo's sales are generated through OEM customers, with the remaining 56% coming from the contracting channel. Belimo provides extensive technical support to customers, including planning, customization, calibration, and troubleshooting services. It also offers trainings for HVAC professionals to optimize installation effectiveness and actively partners with industry associations in developing the future direction of the industry. With its energy-efficient and reliable products, Belimo helps facility managers and building owners reduce operational costs and enhance environmental performance. More recently, Belimo has partnered with leading chip designers on next-generation cooling systems for AI-driven applications.

Belimo derives roughly equal sales from the Americas (46% of total net sales 2024) and EMEA (Europe, Middle East, and Africa) regions (41% of total net sales 2024), with the remaining revenues coming from the Asia-Pacific market (13% of total net sales 2024).

There were no material changes in the activities, value chain, and other business relationships in the reporting year.

Value Chain

Belimo relies on an asset-light business model, outsourcing 88% of production costs to maintain flexibility and ensure the timely delivery of high-quality field services. Being the most critical element of this model, Belimo considers its suppliers as key partners.

The Group views its long-term partnerships as integral to maintaining a resilient supply chain and ensuring high product availability and quality. Belimo’s suppliers contribute significantly to the Group’s innovative capacity, as they help fulfill end-users’ needs while cost-effectively meeting and exceeding mandates manner.

To meet the demand for short lead times, Belimo shipped 90.5% of the delivery line items within the first confirmed time frame. This is achieved through an optimized production process, starting with the production of base actuators at two centralized assembly hubs, in Hinwil and in Danbury, where state-of-the-art testing and quality assurance takes place. The orders are then adapted to local market needs at eight on-site customization centers in the various markets . In the coming years, Belimo plans to adopt a more modular approach to its product portfolio, further streamlining and automating production processes and enhancing responsiveness to customer need.