Today, ABB's Sports business unit will host a Capital Markets Day in Helsinki, Finland. The world's leading motors and drives will outline its ambitions to outperform the sports market and further enhance its industry-leading performance.
According to research, about 45%1 of the world's electricity is converted into motion by electric motors. A significant part of the installed base is old and inefficient. At the same time, only about 23% of the world's 300 million industrial motors are controlled by variable-speed drives that save energy and improve performance. Accelerating the adoption of the most energy-efficient motors and drives – in industry, cities and transportation – will drive significant global energy savings and help us get closer to the goal of 1.5 degrees Celsius2.
"ABB Motion is a key enabler of a low-carbon future. We help our customers and partners improve energy efficiency and shift energy consumption from fossil fuels to clean electricity. Our business is more important than ever due to the ongoing energy transition," said Tarak Mehta, President of this business area.
As new regulations, standards, customer needs, and societal expectations drive the industry toward energy efficiency and process decarbonization, the company expects its market growth to outpace GDP. ABB Motion aims to grow its market by 1.5x and contribute to the ABB Group's profitability target of at least 15% operating EBITA margin from 2023 by:
Continuously focus, invest, and maintain an exceptional customer experience.
The focus on growth in segments such as renewable energy, heavy-duty electric vehicles, food and beverage, water management, and OEM machinery also supports higher quality revenues.
Leverage and continue to invest in the most energy-efficient portfolios on the market.
Portfolio management and top-up acquisitions in new growth areas.
Pricing and continuous improvement to support better performance.
From a sustainability perspective, ABB Motion's main contribution is to help the world reduce CO2 emissions. The products, services and solutions sold by ABB Group in 2021 will enable its customers to reduce greenhouse gas emissions by 11.5 trillion tonnes after the first year, equivalent to the annual emissions of 1.5 million households.
To make a greater positive impact on the environment, ABB launched the #energyefficiencymovement in 2021, a multi-stakeholder initiative. The purpose of the energy efficiency campaign is to raise awareness and take action to reduce energy consumption and carbon emissions in the fight against climate change. Companies are invited to join the movement and make a public commitment as a way to inspire others to take action.
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