As 2024 races towards the finish line, we at ABB want to express our sincere appreciation for your partnership. This year may have seemed like it flew by, but our commitment to innovation is lasting. We celebrate delivering a range of groundbreaking new products designed to empower your business and propel it forward.
ReliaHome is the new innovative, comprehensive residential portfolio under the ABB brand. From circuit and surge protection to energy distribution and load management, ReliaHome residential products make homes reliable, with products that are easy to order, stock and install.
In a world driven by technology, we understand the importance of uninterrupted power. But what happens when your customer’s power goes out unexpectedly? In some cases, even a minimal interruption in the power supply can damage equipment, cause data loss, disruption of critical communication channels or disrupt lifesaving systems.
With industries like electric vehicles, energy storage, industrial equipment, medical devices and consumer electronics driving increased demand, the battery manufacturing industry’s projected compounded annual growth rate (CAGR) from 2022–20321 is anticipated to be 20.1%.
Unprecedented demand and disrupted global supply chains have been consistent across many industries, including ours, since 2021. As a result, industry-wide outputs have not kept pace with demand, adversely affecting the customer experience with extended lead times and increased backlogs.
The electric vehicle (EV) market is experiencing explosive growth, with industry reports indicating a year-over-year increase in U.S. sales of 50% in 2023. This surge translates to a massive opportunity for the electrical industry, especially in the form of ever-increasing EV charging infrastructure.
Despite the recent growth in residential construction, the U.S. faces a significant structural housing shortage, estimated at 3.8 million units. This gap underscores a critical challenge. While population and household formation are increasing — with rates of 1.9 million versus 1.0 million in the early 2000s — the country isn't building houses as swiftly as it once did. Residential industry analysts predict a sustained need for millions of new units, both single- and multi-family, in the coming years. Yet, contractors face a major hurdle in lengthy lead times for electrical equipment. This is where ABB steps in as your partner in success.
Despite the challenges the electrical industry and world faced the last few years, including a global pandemic, ABB Electrification made significant strides in 2023 and is in a strong position as a company and brand. Our commitment to electrifying the US with innovative products and solutions, a robust sales organization and an ever-growing chest of support resources and tools is bearing real fruit. At the core of this evolution is our dedication to meeting the needs of our valued distribution channel partners and of the markets we serve.