ABB Motion – “Circularity: No Time to Waste”

A new report reveals that 91% of industrial companies are affected by resource shortages.

The ABB Motion report “Circularity: No Time to Waste” highlights:

• 91% of industrial companies are feeling the impact of resource shortages.
• 67% of companies plan to invest in the circular economy over the next 3 years.
• Raw materials (37%) are the most constrained resource, followed by energy (34%), labor (32%) and electronic components (26%).
• Resource shortages lead to:
  
  • Higher costs (37%)
  • Supply chain disruption (27%)
  • Slowdowns in production capacity (25%)
• Energy is the scarcest resource, but also the main source of waste (20%).

The report highlights:

• The growing need to use resources more efficiently.
• The circular economy as a key factor for sustainability.

Global survey: Industrial leaders are betting on sustainability

Sapio Research reveals key industry trends based on a survey of 3,304 respondents from 12 countries.

Key points:

• The survey was conducted in October 2023.
• It covered 12 countries, including the US, China, India, the UK, Sweden, Germany and France.
• 3,304 industrial leaders were surveyed from various sectors, such as energy, metals, chemicals, oil and gas, marine, mining and utilities.

The results show:

• A strong commitment to sustainability: 84% of respondents say sustainability is an important priority for their company.
• Investment in green technologies: 72% of companies plan to invest in green technologies over the next 3 years.
• A focus on the circular economy: 63% of companies are aiming to reduce resource consumption and move to circular models.
• Engagement with digital technologies: 59% of companies plan to invest in digital technologies to optimize production and increase efficiency.

The report highlights:

• The growing importance of sustainability in industry.
• Companies' readiness to invest in green technologies and circular models.
• The importance of digitalization for industrial transformation.

The circular economy: Survey reveals optimism, but also obstacles

The ABB Motion report shows that companies are ready to invest in circularity, but there's a lack of a common definition and company-wide commitment.

Key points:

• The survey was conducted among 3,304 industrial leaders from 12 countries.
• 84% of respondents say sustainability is an important priority.
• 72% of companies plan to invest in green technologies.
• 63% of companies are aiming to reduce resource consumption.

Obstacles to the circular economy:

• A lack of a common definition of “circular economic models”.
• Only 8% of companies see circularity as the responsibility of the whole company.
• A low level of engagement with important circular practices.

Benefits of investing in the circular economy:

• Reducing waste (46%).
• Improvements in energy efficiency (45%).
• Improvements in process efficiency.
• Cost control.

Tarak Mehta, President of ABB Motion:

• “Our current way of life is depleting resources at an unsustainable rate.”
• “Embracing the circular economy is essential to protecting the environment and increasing business resilience.”

Artec Robotics fully understands that there's no time to waste and has taken the steps needed to build a better future, contributing to the sustainable development of industry. To read the full ABB Motion report, click here

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