Electrifying disruptive industriesIn the fiscal year of 2020, ABB Group generated around 11.9 billion U.S. dollars in revenue from its Electrification products segment, four percent of the company’s unconsolidated revenue that year. The segment offers products and solutions, such as power generation systems and transmission and distribution networks, used in a wide range of industries, including renewables and electric mobility.
Furthermore, the Electrification business was the largest segment in terms of the number of employees in the 2020 fiscal year as well. In that year, almost 51,000 employees worked within the segment, amounting to some 49 percent of all employees working at ABB Group.
About ABBABB Group was founded in 1988, when Allmänna Svenska Elektriska Aktiebolaget of Sweden merged with Switzerland’s Brown, Boveri & Cie. to form ABB Group. Currently, with a market value of around 40.5 billion U.S. dollars, Zurich-headquartered ABB Group ranks among the world’s largest conglomerates. The company competes with heavyweight conglomerates such as Raytheon Technologies, General Electric, 3M, Danaher, and Honeywell International of the United States, as well as Germany’s Siemens.
In the field of robot manufacturing, ABB Group competes with Chinese-owned KUKA Group and Japan-based Mitsubishi Electric, Kawasaki Heavy Industries, Fanuc, and Yaskawa.