ABB targets faster growth for motion business

By:

Updated: May 17, 2022, 05:22 UTC

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.

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.

(Reporting by John Revill; Editing by Paul Carrel)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: