Bosch reported nearly 5% year-over-year sales growth in North America for 2024, marking the company’s most substantial regional gain worldwide as it focused on expanding its U.S. footprint, the company announced in a news release.
Bosch’s North American consolidated sales reached $17.3 billion, with total net sales, including affiliated entities and internal deliveries, amounting to $18.6 billion. This growth comes amid broader global challenges, as Bosch’s total worldwide revenue declined 1.4% to 90.3 billion euros in 2024.
“We are growing our North American—and specifically our U.S. business—rapidly,” said Stefan Hartung, chairman of Bosch. “By 2030 our ambition is for the North American region to represent 20% of the company’s global sales, with the U.S. representing the majority.”
Over the past five years, Bosch has invested more than $2 billion in U.S. capital expenditures, accounting for more than 75% of its investments in the North American region. Since 2023, the company has announced plans to invest approximately $6 billion in U.S.-based acquisitions.
The 2024 sales growth was driven largely by Bosch’s Mobility sector, which increased to $10.7 billion in sales to third parties in North America. Consumer Goods rose to $3.4 billion, and Energy and Building Technology grew to $1.9 billion. Only the Industrial Technology sector saw a decline, falling to $1.3 billion.
Paul Thomas, president of Bosch North America and Bosch Mobility Americas, said Bosch’s success stems from localized innovation. “We have specifically developed regionally relevant products and solutions for this market. We see opportunities to increase our market share and achieve profitable growth across our portfolio,” he said.
In Mobility, Bosch’s strength came from strategic bets on both legacy and emerging technologies. Its diversified powertrain portfolio—including internal combustion engines, hybrids, and electric and hydrogen technologies—allowed it to maintain ICE-related sales even as EV adoption grew.
Bosch also expanded in the software-defined vehicle (SDV) and ADAS sectors. The Cross-Domain Computing Solutions division secured key customer wins in the U.S., delivering technologies such as Level 2 and Level 2++ driving systems. Bosch’s new radar sensor featuring in-house developed RF CMOS SoC technology entered serial production, making Bosch the first Tier 1 supplier to market with such a device.
Bosch’s ADAS initiatives extended to public transportation through a retrofit collision warning system for the Southeastern Pennsylvania Transportation Authority (SEPTA), covering its entire tram fleet following a successful pilot.
Beyond automotive, Bosch made strides in consumer branding and strategic acquisitions. The company launched a multi-year U.S. marketing campaign during the 2024 Big Game and announced plans to acquire Johnson Controls’ HVAC business for residential and light commercial buildings, expected to close in 2025.
Looking ahead, Bosch reaffirmed its Strategy 2030 goals, aiming for 6%–8% annual growth and a 7% EBIT margin by 2026. Investments will continue in key areas such as electromobility, hydrogen, software, and sustainable practices. Bosch Ventures also announced a $270 million fund to support innovation through startup collaboration.
“Sustainability remains a priority for Bosch,” Hartung added, noting the company aims to double its indirect CO2 reduction targets from 15% to 30% by 2030 compared to 2018 levels.
As Bosch approaches its 120th anniversary in the U.S. in 2026, the company anticipates further growth in both workforce and manufacturing presence, positioning North America as a core pillar of its global operations.
