Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
ABB Group - statistics & facts
ABB Group is a Swiss-Swedish multinational corporation based in Switzerland and is a key player in areas such as industrial automation, power technology, and robotics. In 2021, the company generated more than 28.9 billion U.S. dollars in revenue, recording an increase of almost 11 percent year-on-year. Europe was the most profitable region for the company that year, contributing some 36 percent to ABB Group’s total revenue.
Furthermore, this segment had the highest number of employees—nearly 51,000—in 2021, comprising 49 percent of all employees working at ABB Group.
Electrification
The Electrification business segment of the company offers products and solutions such as power generation systems and transmission and distribution networks, which are used in a wide range of industries, including renewables and electric mobility. In 2021, ABB Group generated around 13.2 billion U.S. dollars in revenue from its Electrification segment alone, representing over 44 percent of the total revenue that year.Furthermore, this segment had the highest number of employees—nearly 51,000—in 2021, comprising 49 percent of all employees working at ABB Group.
ABB Group history and competitors
ABB Group was founded in 1988 through the merger of Allmänna Svenska Elektriska Aktiebolaget of Sweden with Switzerland’s Brown, Boveri & Cie. Currently, with a market value of around 67.8 billion U.S. dollars, the Zurich-headquartered ABB Group ranks among the world’s largest conglomerates. The company competes with heavyweights such as Raytheon Technologies, General Electric, 3M, Danaher, Honeywell International of the United States, and Siemens in Germany. 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.Bergur Thormundsson
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Jan 10, 2024
Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
