ABB invests in U.S. robot factory
The Swiss ABB (ABBN.S) is investing $20 million to expand its U.S. robot factory, to meet demand increase motivated by Joe Biden’s industrial stimulus package.
Sami Atiya, head of ABB’s Robotics and Discrete Automation division explained to Reuters that companies try to become more resilient, by this step firms bring production “closer to your home.”
Atiya refers to the effect global developments such as Covid-19 and Russia-Ukraine war had on disrupting supply chains.Susanne Bieller, IFR general secretary mentioned how the U.S. market is considered more open to foreign enterprises.
“That’s different to China where they are trying to develop their own and Japan which is dominated by its own players,” Bieller explained.
Estimates by ABB and the International Federation of Robotics (IFR) put the worth of the global robotics market around $50 billion per year.
Atiya highlighted how robots’ market has great growth potential. “We see double digit growth for the U.S. market over the next few years,” he stated.
The IFR expects industrial robots installed each year to increase by 8 percent on average in the upcoming three years. This percentage is parallel to the percentage in China and Japan, the two biggest markets for robots.