ABB

The ABB Group ( NYSE: ABB ) is a power and automation technology multinational, headquartered in Zurich, Switzerland. The company was formed in 1988 through a merger between ASEA AB (a pan-Nordic electrical multinational) and BBC Brown Boveri AG (a Swiss group of electrical engineering companies). In addition to being one of the top 10 largest conglomerates in the world (2022), ABB is a leading automation vendor and manufacturer of industrial robots worldwide (2020). It generated USD 32.2 billion in revenue in 2023.

ABB’s operations include a portfolio of electrification products and services (Electrification); automation solutions in the transportation, infrastructure, discrete, and process industries (Motion); smart solutions for the process and hybrid industries (Process Automation); and value-added solutions in robotics and machine and factory automation (Robotics & Discrete Automation). Of these, Electrification was the largest in terms of revenue, accounting for ~49% of total revenue in 2023.

The company’s revenue in FY2023 was split between Europe (~40%), the Americas (~38%), and the Asia, Middle East, and Africa region (~33%), while the US was the largest individual market it served (~29%). The company targets a 100% reduction in Scope 1 and 2 emissions compared with 2019 levels and a 90% reduction in Scope 3 emissions compared with 2022 levels by 2050.