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

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

    Tri-Mach Announces the Purchase of an Additional 45,000 sq ft. 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. Read More…

  • HELUKABEL Group Builds New Facility for Automation Cable Solutions

    HELUKABEL Group Builds New Facility for Automation Cable Solutions

    The HELUKABEL Group recently announced it is going to build a new facility in Haan, Germany that will house its robotic dress pack and drag chain system subsidiaries under one roof. The new building will also serve as the headquarters of HELUKABEL’s Rhine-Ruhr sales branch, and is planned to be completed by 2025. Robotec Systems’ core business is robotic dress pack solutions and has been a HELUKABEL subsidiary since 2012 operating out of Duisburg, a suburb of Duesseldorf in northwest Germany. Read More…


Sponsored Content
Fire Protection for Lithium-ion Battery Energy Storage Systems

Lithium-ion storage facilities contain high-energy batteries combined with highly flammable electrolytes. In addition, they are prone to quick ignition and explosion in a worst-case scenario. Such fires can have a significant financial impact on organizations. Rapid detection of electrolyte gas particles and extinguishing are the key to a successful fire protection concept. Since December 2019, Siemens has been offering a VdS-certified fire protection concept for stationary Li-ion battery storage systems.

Click HERE to learn more.


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


Modern Niagara Partners with Global Sustainability Platform Worldfavor

Worldfavor is a global sustainability platform, digitizing and automating the collection, calculation, aggregation and visualization for analysis and reporting of ESG data. Now, Worldfavor is proud to welcome Modern Niagara as a new customer. Modern Niagara is the first Canadian construction company to partner with Worldfavor.

“Worldfavor was founded to be the best platform for sharing, accessing and gaining insights from corporate ESG information. Worldfavor’s mission is to make sustainability mainstream and with that we offer solutions to accelerate sustainability through the value chain. Modern Niagara is the first Canadian construction company to partner with Worldfavor. 

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