News
Latest News
news bulletin
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Other News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Beirut
15
o
Mount Lebanon
16
o
Metn
17
o
Keserwan
17
o
North
16
o
South
13
o
Bekaa
10
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Aswad
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
15
o
Mount Lebanon
16
o
Metn
17
o
Keserwan
17
o
North
16
o
South
13
o
Bekaa
10
o
News
Programs
The News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Programs
Series
Talk Show
News Bulletin
Oldies
Variety
Comedy
Other
Sports
Documentaries
The Untold History
New Year Shows
Lebanon’s Centennial
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
ABB invests in US robot factory as reshoring trend hots up
World
2023-03-16 | 07:39
High views
Share
Share
3
min
ABB invests in US robot factory as reshoring trend hots up
ABB (ABBN.S) is expanding its main US robot factory as its customers there in the automotive, packaging and machinery industries confront a tight labor market as they bring production back home.
The Swiss engineering company, which competes with Japan's FANUC (6954.T) and Germany's Kuka (KUKAF.PK), is spending $20 million boosting capacity at its Auburn Hills site in Michigan to meet demand spurred by the Biden administration's massive industrial stimulus package.
The United States is the third largest in the global robotics market, which is worth around $50 billion per year according to estimates by ABB and the International Federation of Robotics (IFR).
Rapid growth is expected as US companies bring production closer to home to avoid logistic log jams which have gummed up supply chains since the global pandemic.
"After the most intense shocks to the industry, including COVID, the semi-conductor shortage, and then the Ukraine war, businesses all want to become more resilient," said Sami Atiya, the head of ABB's Robotics and Discrete Automation division.
"In terms of critical parts of long supply chains, the more production you can bring closer to your home, the more resilient you become," he told Reuters in an interview.
A survey by ABB last year showed 70% of North American businesses suffered supply chain disruptions in the last year.
As a result 37% of businesses wanted to bring their businesses back to the United States, while 33% were looking at near shoring - bringing it closer to the country.
A tight labor market and rising wages make robots more attractive.
"There is a huge shortage of skilled labor in the US," said Atiya. "With an aging population, that gap is widening."
Robots were now easier to use, making them attractive to smaller and medium sized business like bakeries, he added.
The IFR expects the numbers of industrial robots installed each year in the Americas to expand by an average of 8% per year over the next three years, much faster than Europe which will see growth at 1%.
China and Japan, the two biggest markets for robots, will grow at around 8%, IFR said.
"The US market is particularly interesting because it is more open to foreign businesses because it does not have its own domestic brands," said IFR general secretary Susanne Bieller.
"That’s different to China where they are trying to develop their own and Japan which is dominated by its own players."
The Biden Administration's $430 billion Inflation Reduction Act, which includes major provisions to cut carbon emission, boost domestic production and manufacturing, was not a direct factor behind ABB's investment, the executive said.
Still, the act, along with the $52 billion semiconductor manufacturing program, could boost demand.
Companies like Siemens and Audi have spoken about large investments in the United States on the back of the Biden stimulus, while chip manufacturers like IBM Corp (IBM.N) and Micron (MU.O) have also announced new production sites.
"The potential for growth in the industrial robots market is huge," Atiya said. "We see double digit growth for the US market over the next few years and don't see any reason why this will change."
Reuters
World
ABB
Invest
US
Robot
Factory
Trend
Labor
Market
Production
Next
Pentagon releases de-classified video of Black Sea drone incident
Yellen tells senators US banking system 'remains sound'
Previous
Related Articles
d-none hideMe
0
World
07:09
Huayou starts trial production at Zimbabwe lithium mine, invests in Namibian project
World
07:09
Huayou starts trial production at Zimbabwe lithium mine, invests in Namibian project
0
Middle East
05:22
Most Gulf markets rise in early trade; Fed meeting in focus
Middle East
05:22
Most Gulf markets rise in early trade; Fed meeting in focus
0
Variety
2023-03-20
Lebanese performs 1st Renal Autotransplantation using robotic surgery in NY
Variety
2023-03-20
Lebanese performs 1st Renal Autotransplantation using robotic surgery in NY
0
World
2023-03-19
US Senator Warren calls for investigation into SVB and Signature Bank failures - WSJ
World
2023-03-19
US Senator Warren calls for investigation into SVB and Signature Bank failures - WSJ
Recommended For You
d-none hideMe
0
World
11:21
Despite opposition, UK's Sunak wins post-Brexit trade vote in parliament
World
11:21
Despite opposition, UK's Sunak wins post-Brexit trade vote in parliament
0
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
0
World
10:18
OPEC+ likely to stick to its guns despite price slump, delegates say
World
10:18
OPEC+ likely to stick to its guns despite price slump, delegates say
0
World
10:18
Australian regulator considers greenwashing complaint against Etihad
World
10:18
Australian regulator considers greenwashing complaint against Etihad
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World
2023-02-06
Swiss to vote on preventing cashless society
World
2023-02-06
Swiss to vote on preventing cashless society
0
News Bulletin Reports
2023-03-15
Governor of Lebanon's Central Bank submits clarifying memo regarding his absence from court session
News Bulletin Reports
2023-03-15
Governor of Lebanon's Central Bank submits clarifying memo regarding his absence from court session
0
Lebanon Economy
2023-03-21
IMF's upcoming report on Lebanon set to deliver grim assessment of economic crisis
Lebanon Economy
2023-03-21
IMF's upcoming report on Lebanon set to deliver grim assessment of economic crisis
0
World
2023-03-20
Ghana finance minister to travel to China for debt talks – source
World
2023-03-20
Ghana finance minister to travel to China for debt talks – source
Videos
d-none hideMe
0
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
0
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
0
Lebanon News
2023-01-25
Beirut blast investigations: The latest
Lebanon News
2023-01-25
Beirut blast investigations: The latest
0
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
0
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
0
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
0
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
0
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
0
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
06:47
Within 30 years, Lebanon will face deep climate change effects, here are the details
Lebanon News
06:47
Within 30 years, Lebanon will face deep climate change effects, here are the details
2
Lebanon News
06:18
Retired military personnel protest near Grand Serail, clash with security forces
Lebanon News
06:18
Retired military personnel protest near Grand Serail, clash with security forces
3
Press Highlights
04:35
Presidential election deadlock in Lebanon: The quest for a consensual option
Press Highlights
04:35
Presidential election deadlock in Lebanon: The quest for a consensual option
4
Middle East
04:17
Israeli strike hits near Aleppo airport: Syrian officials
Middle East
04:17
Israeli strike hits near Aleppo airport: Syrian officials
5
News Bulletin Reports
10:18
A new dawn: Middle East overcomes political and military tensions
News Bulletin Reports
10:18
A new dawn: Middle East overcomes political and military tensions
6
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
7
Press Highlights
02:45
Telecom Minister Corm's ministry mulls tariff increase
Press Highlights
02:45
Telecom Minister Corm's ministry mulls tariff increase
8
Lebanon News
12:53
Hamieh refutes allegations about the new airport terminal
Lebanon News
12:53
Hamieh refutes allegations about the new airport terminal
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store