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ABB CEO: India to be 3rd largest market before 2030
21 Jan
Summary
- India is ABB's fourth-largest market, aiming for third by 2030.
- Electrification and automation drive ABB's record order book.
- ABB invests heavily in India, seeing it as a future export hub.
ABB is poised for strong growth in 2026, supported by its largest-ever order book stemming from consistent demand for electrification and automation. CEO Morten Wierod stated India, currently the fourth-largest market, is targeted to become the third by 2030, with internal goals to achieve this earlier.
The company's expansion is fueled by global trends in electrification and automation, which are seen as multi-decade opportunities. ABB is helping industries like India's steel sector adopt electric arc furnaces, enhancing competitiveness and reducing emissions.
ABB's record order book reflects the booming market for electrification, essential for meeting increasing energy needs from renewable sources and rising global consumption. Automation plays a key role in managing energy efficiently and stabilizing grids under pressure.
ABB is actively pursuing M&A opportunities, particularly bolt-on acquisitions, to strengthen its electrification and automation offerings. India is a focal point for investment, with ABB expanding its manufacturing capacity and viewing it as a strategic export hub.
