What are the major differences between the European and North American markets from Grundfos’ perspective?
Hansen: Europe is a much bigger hydronics market and more mature in terms of players on both the vendor and distribution sides. They have been four to five years ahead of the U.S. technologically with both pumps and boilers. North America had been relatively conservative, but now all of a sudden has been infused with new technology related to electronics, software, new materials and so on. It’s a very exciting time for us, because advanced technology is Grundfos’ strength. Wierzbicki: In the U.S. you see more zoning. In Europe they typically have a single large pump and good controls with variable speed technology. They don’t use zoned systems as often. But now we’re seeing more new homes using a single header pump with sophisticated controls, and older homes will transition over time. It will be very interesting to watch the U.S. market adapt this way, and this will present a great opportunity for us. Hansen: Another difference is that several years ago in Europe, all major suppliers
