ABB targets faster growth for motion business
Reuters
Published May 17, 2022 01:18AM ET
ZURICH (Reuters) - ABB is aiming to increase sales at its motion business 50% quicker than the overall market for electric motors, the Swiss engineering company said on Tuesday ahead of its investor day for the division.
The business, which makes motors and drives, is targeting faster growth by offering more variable speed drives which save energy.
Currently only 23% of the world's 300 million industrial electrical motors have variable speed drives, which consume less energy and are more environmentally friendly, ABB said.
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Written By: Reuters
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