VELUX Group Market Research Report

Background

Company Overview

VELUX Group, established in 1941 by Danish engineer Villum Kann Rasmussen, specializes in roof windows, skylights, sun tunnels, and related accessories. The name "VELUX" is derived from "VE" (ventilation) and "LUX" (light), reflecting the company's mission to bring daylight and fresh air into buildings. Headquartered in Hørsholm, Denmark, VELUX operates globally, offering products that enhance indoor environments by introducing natural light and ventilation.

Mission and Vision

VELUX's purpose is to create well-being for people and the planet by transforming spaces using daylight and fresh air. This vision underscores the company's commitment to improving indoor climates and promoting sustainability.

Industry Significance

As a leading manufacturer in the daylighting industry, VELUX has significantly influenced building design by integrating natural light solutions. Its products are integral to creating healthy, energy-efficient, and comfortable indoor spaces, positioning the company as a key player in the global building materials sector.

Key Strategic Focus

Core Objectives

VELUX aims to lead the change towards healthier and more sustainable buildings by providing solutions that enhance indoor environments through natural light and ventilation. The company focuses on innovation, quality, and customer service to meet the evolving needs of the construction and renovation markets.

Areas of Specialization

Residential Products: Roof windows, skylights, sun tunnels, and related accessories designed to improve natural lighting and ventilation in homes.

Commercial Products: Modular skylights and flat-roof windows tailored for commercial buildings, enhancing daylighting and energy efficiency.

Smart Home Solutions: Automated systems for controlling roof windows and blinds, integrating with home automation platforms.

Key Technologies Utilized

VELUX employs advanced technologies in its products, including automated controls for roof windows and blinds, energy-efficient glazing, and smart home integration capabilities. These innovations aim to enhance user comfort and energy performance.

Primary Markets Targeted

VELUX serves both residential and commercial markets globally, with a significant presence in Europe, North America, and Asia-Pacific regions. The company caters to new construction projects, renovations, and retrofits, addressing the needs of homeowners, builders, architects, and commercial property developers.

Financials and Funding

Funding History

VELUX is a privately held company owned by VKR Holding A/S, a limited company wholly owned by the Villum Foundation and members of the Kann Rasmussen family. As a privately held entity, detailed funding history and capital utilization plans are not publicly disclosed.

Recent Financial Performance

In 2024, the VELUX Group reported a total revenue of EUR 2.96 billion. The Villum Foundation and the VELUX Foundation donated EUR 169 million in charitable grants during the same period.

Pipeline Development

VELUX continually develops and refines its product offerings to meet market demands. Recent initiatives include the expansion into the commercial market through the acquisition of JET-Group in 2019, leading to the establishment of VELUX Commercial. This division focuses on providing daylighting solutions for commercial buildings, including modular skylights and flat-roof windows.

Technological Platform and Innovation

Proprietary Technologies

VELUX Modular Skylights: A system designed for commercial buildings, offering standardized skylight solutions that integrate seamlessly with various building designs.

Sun Tunnel® Skylights: A tubular skylight system that channels natural light into interior spaces without the need for structural changes.

Significant Scientific Methods

VELUX employs advanced engineering and design methodologies to optimize daylighting and energy efficiency. The company utilizes simulation tools to model light distribution and thermal performance, ensuring that products meet both aesthetic and functional requirements.

Leadership Team

Lars Petersson: Chief Executive Officer (CEO) of VELUX Group, responsible for overall strategic direction and operations.

Anders Götzsche: Executive Vice President and Chief Financial Officer (CFO), overseeing financial strategy and management.

Tina Mayn: Executive Vice President of Products & Innovation, leading product development and innovation initiatives.

Aliëtte van der Wal-van Dijk: Executive Vice President of Global Marketing, managing global marketing strategies and brand development.

Iben Schmidt Helbirk: Executive Vice President of People & Organisation, focusing on human resources and organizational development.

Raffaella Berardo: Executive Vice President of Region Southwest Europe, responsible for operations in Southern Europe.

Anders Dam Vestergaard: Executive Vice President of Region North America, CEE, APAC & Altaterra, overseeing operations in multiple regions.

Barnabas Szabo: Executive Vice President of Operations & Supply, managing supply chain and operational efficiency.

Competitor Profile

Market Insights and Dynamics

The global market for daylighting solutions is growing, driven by increasing awareness of energy efficiency and the health benefits of natural light. Key trends include the integration of smart technologies, sustainable building practices, and the demand for customizable solutions.

Competitor Analysis

Roto Frank: A German company specializing in roof windows and skylights, offering a range of products for residential and commercial applications.

Fakro: A Polish manufacturer of roof windows, skylights, and loft ladders, known for innovative designs and energy-efficient solutions.

Velfac: A Danish company producing windows for the building industry, part of VKR Holding A/S, which also owns VELUX.

Strategic Collaborations and Partnerships

VELUX has formed strategic partnerships to enhance its market position and innovation capacity:

VKR Holding A/S: As the parent company, VKR Holding A/S provides financial stability and strategic direction.

The Villum Foundation and the VELUX Foundation: These foundations support the company's philanthropic initiatives, including charitable grants and sustainability projects.

Operational Insights

VELUX's strategic considerations include maintaining a strong brand presence, investing in research and development, and expanding into new markets. The company's competitive advantages lie in its long-standing reputation, comprehensive product range, and commitment to sustainability.

Strategic Opportunities and Future Directions

VELUX is well-positioned to capitalize on the growing demand for sustainable building solutions. Future opportunities include expanding the commercial product line, integrating advanced smart home technologies, and exploring emerging markets. The company's focus on innovation and quality positions it to achieve these objectives effectively.