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ABB sees energy, climate change and emerging-markets driving demand
29 September 2009
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ABB says the economic crisis is reinforcing three trends that have been driving demand for the company: the battle against climate change, the search for energy and process efficiency, and the strength of emerging markets.
The trends will extend beyond the current economic cycle and will increasingly shape ABB’s research and development activities, as well as decisions on where to locate new facilities, says CEO Joe Hogan.
Efforts to lower greenhouse-gas emissions and especially to promote renewable energy have gained new momentum under the stimulus plans of many governments, he said.
In addition, the awareness that energy prices will rise over the long term, combined with the need to cut costs to weather the current downturn, are driving industries to improve the efficiency of their energy consumption and processes.
ABB also said that approximately 75% of the growth it has seen in the past five years has come from the emerging economies, and that this trend is likely to continue.
The trends will extend beyond the current economic cycle and will increasingly shape ABB’s research and development activities, as well as decisions on where to locate new facilities, says CEO Joe Hogan.
Efforts to lower greenhouse-gas emissions and especially to promote renewable energy have gained new momentum under the stimulus plans of many governments, he said.
In addition, the awareness that energy prices will rise over the long term, combined with the need to cut costs to weather the current downturn, are driving industries to improve the efficiency of their energy consumption and processes.
ABB also said that approximately 75% of the growth it has seen in the past five years has come from the emerging economies, and that this trend is likely to continue.
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