New Survey Reveals Global Industry Is Accelerating Investment in Energy Efficiency

PB-57-ABB-EnergyEfficiencySurvey-400.jpg

May 5, 2022

  •    –   Global survey commissioned by ABB highlights current and future plans of companies to invest in energy efficiency to achieve Net Zero
  •    –   90 percent will increase spending over the next five years while 52 percent plan to achieve Net Zero within the same period
  •    –   Growing impact of energy costs on profitability means that energy efficiency is receiving a higher priority, yet cost and downtime are major barriers to investment

Global industry is accelerating its investment in energy efficiency in the next five years as the crucial race towards Net Zero intensifies, a new survey finds. The Energy Efficiency Investment Survey 2022 comes in the wake of a recent UN report calling for concerted action from countries to cut greenhouse emissions at a faster rate.

The global survey conducted by Sapio Research targeted 2,294 companies in 13 countries, ranging in size from 500 to 5,000 or more employees. It offers the latest snapshot of how industries across the world are planning to invest in energy efficiency measures to achieve Net Zero. A key finding is that more than half (54 percent) of the companies are already investing, while 40 percent plan to make energy efficiency improvements this year.

“Significant population and economic growth will accelerate climate change to a critical point if governments and industry don’t intensify their efforts. Growing urbanization and rising geopolitical tension will also make energy security and sustainability even more critical,” said Tarak Mehta, President of ABB Motion. “Improving energy efficiency is an essential strategy to address these potential crises. Therefore, the acceleration in investment highlighted by this survey is positive news.”

Industrial motor-driven systems, in particular, hold huge potential for energy efficiency measures. Almost two-thirds of the survey respondents are upgrading their equipment to best-in-class efficiency ratings, such as high-efficiency electric motors controlled by variable speed drives.

The report also highlights areas of concern. Half of the respondents listed cost as the biggest barrier to improving energy efficiency and 37 percent felt downtime was a barrier. Also concerning is that only
41 percent of respondents felt they had all the information needed regarding energy efficiency measures.

“It is vital to help stakeholders across industry understand that Net Zero need not mean net cost. Both suppliers and governments have a role to play in promoting the message that adopting energy efficient technology offers a fast return on investment while cutting CO2 emissions. The bottom line is that energy efficiency is good for business and good for the environment,” said Mehta.

More key learnings from the survey:

Respondents reported that, on average, 23 percent of their annual operating costs are attributable to energy usage

Nine out of ten respondents indicated that rising energy costs are at least a minor threat to profitability, while more than half (53 percent) perceived it as a moderate or substantial threat

Despite cost being a significant barrier to investing in improving energy efficiency, cost savings were the most important reason for investing (59 percent)

Energy Efficiency Movement

The survey was carried out as part of the #energyefficiencymovement, a multi-stakeholder initiative launched by ABB in 2021. The movement is consistent with the company’s Sustainability 2030 strategy, which commits to supporting ABB’s customers in decreasing their 2030 CO2 footprint by a collective 100 megatons annually, the equivalent of removing 30 million combustion cars from the roads each year. The Energy Efficiency Movement’s aim is thus to raise awareness and initiate action to reduce energy consumption and carbon emissions to combat climate change. Companies are invited to join the movement and make a public pledge as a way of inspiring others to take action. For more information: https://www.energyefficiencymovement.com/en/

The Energy Efficiency Investment Survey 2022 is available here.

Related Articles


Changing Scene

  • Eaton Canada Welcomes Dino Alimonti as New Vice President of Sales

    Eaton Canada Welcomes Dino Alimonti as New Vice President of Sales

    Dino Alimonti has been selected as Vice President, Sales, Eaton Canada, effective July 1, 2023. In his new role, Dino will be responsible for leading, developing and executing sales strategies across key targeted industry segments. He will manage and direct the growth activities of the Sales and Channel teams as well as provide business and operational leadership to the sales teams and associated support functions. Read More…

  • Roberta Nelson Shea from Universal Robots Receives Prestigious Robotics Award for Contribution to Robot Safety

    Roberta Nelson Shea from Universal Robots Receives Prestigious Robotics Award for Contribution to Robot Safety

    For the second time within five years, a key figure at Universal Robots (UR), the Danish manufacturer of collaborative robots (cobots), has been awarded the world’s most prestigious robotics prize, the Joseph F. Engelberger Robotics Award, often described as the Nobel Prize of robotics. Following in the footsteps of UR’s co-founder Esben Østergaard, who was given the Engelberger Award in 2018 in the Technology category, Roberta Nelson Shea, UR’s Global Technical Compliance Officer received the award for Applications at a ceremony last night at the Automate Show in Detroit. Read More…


Sponsored Content
The Easy Way to the Industrial IoT

The way to the Industrial IoT does not have to be complicated. Whether access to valuable data is required or new, data-driven services are to be generated, Weidmuller enables its customers to go from data to value the easy way. Weidmuller’s comprehensive and cutting-edge IIoT portfolio applies to greenfield and brownfield applications. Weidmuller offers components and solutions from data acquisition, data pre-processing, data communication and data analysis.

Visit Weidmuller’s Industrial IoT Portfolio.


For a Multiplied Value Unified

PB-62-Excelpro-MultipliedValue-400.jpg

During the last few years, the Excelpro Group has welcomed AIA Automation, Envitech Automation and Conrad Lavoie Electrical, all of which have become ‘Member of the Excelpro Group’.

It was with great excitement that in November of 2022, Excelpro announced that these three companies officially became Excelpro. This decision is part of a strategy to enhance the Excelpro Group’s brand in its market.

These companies already collaborate on various client projects. This merger brings together the complementary strengths of the employees and ensures a global synergy of the activities throughout the Group.

Read More


Service Wire Co. Announces New Titles for Key Executives

Bruce Kesler and Mark Gatewood have been given new titles and responsibilities for Service Wire Co.

Bruce Kesler has assumed the role of Senior Director – Business Development. Bruce will be responsible for Service Wire’s largest strategic accounts and our growing Strategic Accounts Team.

Mark Gatewood has been promoted to the role of Vice President – Sales & Marketing. In this role, Gatewood will lead the efforts of Service Wire Company’s entire sales and marketing organization in all market verticals.

Read More


Tri-Mach Announces the Purchase of an Additional 45,000 sq ft. Facility

Tri-Mach Elmira Facility

Recently, Tri-Mach Inc. was thrilled to announce the addition of a new 45,000 sq ft. facility. Located at 285 Union St., Elmira, ON, this facility expands Tri-Mach’s capabilities, allowing them to better serve the growing needs of their customers.

Positioning for growth, this additional facility will allow Tri-Mach to continue taking on large-scale projects, enhance product performance testing, and provide equipment storage for their customers. The building will also be the new home to their Skilled Trades Centre of Excellence.

Read More


JMP Parent Company, CONVERGIX Acquires AGR Automation, Expanding Global Reach

Convergix Automation Solutions has completed the acquisition of AGR Automation (“AGR”), a UK-based provider of custom, high-performance automation design and systems integration primarily to the life sciences industry.

Following Convergix’s acquisitions of JMP Solutions in August 2021 and Classic Design in February 2022, AGR marks the third investment in Crestview’s strategy to build Convergix into a diversified automation solutions provider targeting the global $500+ billion market, with a particular focus on the $70 billion global systems integration and connectivity segments. Financial terms of the transaction were not disclosed.

Read More


Latest Articles

  • Emerson Helps Optimize Innovative Recycling Process That Increases Sustainability of Waste-to-Energy Industry

    Emerson Helps Optimize Innovative Recycling Process That Increases Sustainability of Waste-to-Energy Industry

    Emerson is helping the Swedish cleantech company HaloSep to optimize their unique process that turns hazardous incinerator flue gas residue from waste-to-energy plants into usable materials. Emerson’s control technology and software is being deployed at HaloSep’s plant for optimization, research and technology (PORT) in Gothenburg, Sweden, to manage an innovative chemical separation process that recovers valuable salt, metals and minerals from fly ash. Read More…

  • Efficient Power Supplies – An Investment in the Future

    Efficient Power Supplies – An Investment in the Future

    In the search for a suitable power supply, the costs play a major role, alongside the technical requirements. The focus is often on the initial purchase price, while other potential costs that may be incurred during the operation of the power supply are not taken into consideration. In this blog post, we demonstrate why the decision to purchase a high-quality power supply is a profitable investment for your company, by taking a close look at all the costs involved. Read More…