Control Systems in Europe September 2021: Marketline Industry Profile

MarketLine Industry Profile
Control Systems in Europe

September 2021
Reference Code: 0201-0670
Publication Date: September 2021
Primary NAICS: 334513
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Industry Profiles
1. Executive Summary
1.1. Market value

The European control systems market shrank by 14.1% in 2020 to reach a value of $6,885.6 million.
1.2. Market value forecast

In 2025, the European control systems market is forecast to have a value of $8,936.7 million, an increase of
29.8% since 2020.
1.3. Category segmentation

Dcs is the largest segment of the control systems market in Europe, accounting for 54.7% of the market's
total value.
1.4. Geography segmentation

Asia-pacific accounts for 36.7% of the European control systems market value.
1.5. Market rivalry

The degree of rivalry in the European control systems market is assessed as moderate. The market is large
and brings together a diverse group of companies. However, although large, players in this market are
relatively few. This means that the market is consolidated, which eases rivalry as there are less players
seeking to infringe on the revenue streams of competitors. The COVID-19 pandemic has accelerated
market decline, intensifying rivalry between players as they compete for a limited number of business
opportunities in a contracting market.
1.6. Competitive Landscape

The performance of the European control systems market has been poor over the past two years, with
negative growth being accelerated in 2020 due to disruption caused to the market by the COVID-19
pandemic. This has intensified rivalry between leading market players as they compete for a limited
number of business opportunities in a contracting market. Of the top four leading players in the market,
two (Robert Bosch and Siemens) are based in Germany, one (Schneider) is based is France, and one (ABB)
is based in Switzerland. However, all four leading players benefit from the scale of international operations,
which has helped boost revenues. The top companies in the market serve a diverse range of industries, a
strategy which has proved to be beneficial during the COVID-19 pandemic. Some companies in the market

Industry Profiles
also invested heavily in research and development to enhance their product offering and gain a
competitive advantage over their rivals.

Industry Profiles
TABLE OF CONTENTS
1. Executive Summary 2
1.1. Market value ................................................................................................................................................2
1.2. Market value forecast ..................................................................................................................................2
1.3. Category segmentation................................................................................................................................2
1.4. Geography segmentation.............................................................................................................................2
1.5. Market rivalry...............................................................................................................................................2
1.6. Competitive Landscape ................................................................................................................................2
2. Market Overview 9
2.1. Market definition .........................................................................................................................................9
2.2. Market analysis ............................................................................................................................................9
3. Market Data 12
3.1. Market value ..............................................................................................................................................12
4. Market Segmentation 13
4.1. Category segmentation..............................................................................................................................13
4.2. Geography segmentation...........................................................................................................................14
5. Market Outlook 15
5.1. Market value forecast ................................................................................................................................15
6. Five Forces Analysis 16
6.1. Summary ....................................................................................................................................................16
6.2. Buyer power...............................................................................................................................................17
6.3. Supplier power ...........................................................................................................................................19
6.4. New entrants .............................................................................................................................................21
6.5. Threat of substitutes ..................................................................................................................................23
6.6. Degree of rivalry.........................................................................................................................................24
7. Competitive Landscape 25
7.1. Who are the leading players? ....................................................................................................................25

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7.2. What strategies do leading players follow? ...............................................................................................26
7.3. What has been the rationale behind recent M&A activity? ......................................................................26
7.4. How is the COVID-19 pandemic affecting the market? .............................................................................27
8. Company Profiles 28
8.1. Robert Bosch GmbH...................................................................................................................................28
8.2. Siemens AG ................................................................................................................................................33
8.3. Siemens AG ................................................................................................................................................37
8.4. ABB, Ltd......................................................................................................................................................41
8.5. Robert Bosch GmbH...................................................................................................................................46
8.6. Schneider Electric SE ..................................................................................................................................50
8.7. ABB, Ltd......................................................................................................................................................55
8.8. Schneider Electric SE ..................................................................................................................................60
9. Macroeconomic Indicators 65
9.1. Country data ..............................................................................................................................................65
Appendix 67
Methodology ...........................................................................................................................................................67
9.2. Industry associations..................................................................................................................................68
9.3. Related MarketLine research .....................................................................................................................68
About MarketLine....................................................................................................................................................70

Industry Profiles
LIST OF TABLES
Table 1: Europe control systems market value: $ million, 2016–20 12
Table 2: Europe control systems market category segmentation: $ million, 2020 13
Table 3: Europe control systems market geography segmentation: $ million, 2020 14
Table 4: Europe control systems market value forecast: $ million, 2020–25 15
Table 5: Robert Bosch GmbH: key facts 28
Table 6: Robert Bosch GmbH: Key Employees 31
Table 7: Robert Bosch GmbH: Key Employees Continued 32
Table 8: Siemens AG: key facts 33
Table 9: Siemens AG: Annual Financial Ratios 35
Table 10: Siemens AG: Key Employees 36
Table 11: Siemens AG: key facts 37
Table 12: Siemens AG: Annual Financial Ratios 39
Table 13: Siemens AG: Key Employees 40
Table 14: ABB, Ltd.: key facts 41
Table 15: ABB, Ltd.: Annual Financial Ratios 43
Table 16: ABB, Ltd.: Key Employees 44
Table 17: ABB, Ltd.: Key Employees Continued 45
Table 18: Robert Bosch GmbH: key facts 46
Table 19: Robert Bosch GmbH: Key Employees 48
Table 20: Robert Bosch GmbH: Key Employees Continued 49
Table 21: Schneider Electric SE: key facts 50
Table 22: Schneider Electric SE: Annual Financial Ratios 52
Table 23: Schneider Electric SE: Key Employees 53
Table 24: Schneider Electric SE: Key Employees Continued 54
Table 25: ABB, Ltd.: key facts 55
Table 26: ABB, Ltd.: Annual Financial Ratios 57
Table 27: ABB, Ltd.: Key Employees 58

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Table 28: ABB, Ltd.: Key Employees Continued 59
Table 29: Schneider Electric SE: key facts 60
Table 30: Schneider Electric SE: Annual Financial Ratios 62
Table 31: Schneider Electric SE: Key Employees 63
Table 32: Schneider Electric SE: Key Employees Continued 64
Table 33: Europe size of population (million), 2016–20 65
Table 34: Europe gdp (constant 2005 prices, $ billion), 2016–20 65
Table 35: Europe gdp (current prices, $ billion), 2016–20 65
Table 36: Europe inflation, 2016–20 65
Table 37: Europe consumer price index (absolute), 2016–20 66
Table 38: Europe exchange rate, 2016–20 66

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LIST OF FIGURES
Figure 1: Europe control systems market value: $ million, 2016–20 12
Figure 2: Europe control systems market category segmentation: % share, by value, 2020 13
Figure 3: Europe control systems market geography segmentation: % share, by value, 2020 14
Figure 4: Europe control systems market value forecast: $ million, 2020–25 15
Figure 5: Forces driving competition in the control systems market in Europe, 2020 16
Figure 6: Drivers of buyer power in the control systems market in Europe, 2020 17
Figure 7: Drivers of supplier power in the control systems market in Europe, 2020 19
Figure 8: Factors influencing the likelihood of new entrants in the control systems market in Europe, 2020 21
Figure 9: Factors influencing the threat of substitutes in the control systems market in Europe, 2020 23
Figure 10: Drivers of degree of rivalry in the control systems market in Europe, 2020 24

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2. Market Overview
2.1. Market definition

The control systems market is made up of programmable logic controllers (PLC) and distributed control systems
(DCS). It does not include PC-based control systems and software. A control system is a device, or set of devices,
that manages, commands, directs or regulates the behavior of other device(s) or system(s). Industrial control
systems are used in industrial production.
There are two common classes of control systems, with many variations and combinations: logic or sequential
controls, and feedback or linear controls.
A logic gate is an idealized or physical device implementing a Boolean function, that is, it performs a logical
operation on one or more logical inputs, and produces a single logical output.
A Programmable Logic Controller, PLC or Programmable Controller is a digital computer used for automation of
electromechanical processes, such as control of machinery on factory assembly lines, amusement rides, or light
fixtures. The abbreviation "PLC" and the term "Programmable Logic Controller" are registered trademarks of the
Allen-Bradley Company (Rockwell Automation). PLCs are used in many industries and machines. Unlike general-
purpose computers, the PLC is designed for multiple inputs and output arrangements, extended temperature
ranges, immunity to electrical noise, and resistance to vibration and impact.
DCS (Distributed Control System) is a computerized control system used to control the production line in the
industry. The entire system of controllers is connected by networks for communication and monitoring. DCS is a
very broad term used in a variety of industries, to monitor and control distributed equipment.
All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all
currency conversions used in the creation of this report have been calculated using constant 2020 annual average
exchange rates.
Forecast figures presented in this report are calculated using crisis scenarios for the market. The length of the
pandemic and restrictions introduced by various countries are still difficult to predict. Many governments had
introduced the national lockdowns and temporarily banned sales of products that are deemed "non-essential". As
the length of the pandemic and its impact on this market is not certain, the data used in this report has been
modeled taking forecast impacts on national economics into consideration.
For the purposes of this report, the global market consists of North America, South America, Europe, Asia-Pacific,
Middle East, South Africa and Nigeria.
North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Chile, Colombia, and Peru.
Europe comprises Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Scandinavia comprises Denmark, Finland, Norway, and Sweden.
Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand,
Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Middle East comprises Egypt, Israel, Saudi Arabia, and United Arab Emirates.
2.2. Market analysis

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The European control systems market experienced a weak performance overall in the historic period. Particularly
strong growth in 2018 was followed by a steep decline to negative growth in 2019. This downward trend was
continued at an accelerated rate in 2020 due to disruption caused by the COVID-19 pandemic. The market is
expected to make a slow recovery to positive growth in 2021, followed by healthy levels of growth over the
remainder of the forecast period.
Germany is the largest control systems market in Europe, accounting for 36.2% of the region’s total value in 2020.
This means that the performance of the German market has a significant influence on the performance of the
European market as a whole. Historically, the German control systems market has been supported by the growing
industrial output of the country, which has enhanced demand. The index of production in manufacturing according
to the Federal Statistical Office of Germany increased from 90 in January 2014 to 96 in January 2018. On top of
this, the arrival of a large wave of migrants increased demand for housing. The construction of new housing
supported demand for control systems, which are used in a wide range of products and processes during
construction and completion, from cranes to household appliances such as washing machines. A range of
macroeconomic and demographic factors therefore boosted the German control systems market during the
historic period. However, the index of production in manufacturing declined in 2019 and then again in 2020 as
manufacturing industries felt the effects of the COVID-19 pandemic. This has negatively impacted growth in the
German market, and the European market, overall.
The European control systems market had total revenues of $6.9bn in 2020, representing a compound annual
growth rate (CAGR) of -4.1% between 2016 and 2020. In comparison, the Asia-Pacific and US markets declined
with a CAGR of -0.5% and -2.4% respectively, over the same period, to reach respective values of $7.6bn and
$3.3bn in 2020.
More generally, the COVID-19 pandemic has caused widespread disruption to many industries around the world,
impacting productivity and even forcing some businesses to close. The demand for control systems is greatest in
heavy industries such as oil and gas, as well as car manufacturing, and aerospace and defense, all of which have
been particularly vulnerable to the pandemic. For example, restrictions on movement have caused a significant
drop in air travel, whilst stay at home orders have led to fewer people using cars. Strict border restrictions are also
likely to have disrupted supply chains and access to manufacturing materials. According to Destatis, overall
industrial production in Germany fell by 10.8% Y-o-Y in 2020, with the production index for the manufacturing
sector falling most notably for the motor vehicles segment. In the UK, car production dropped by 29% in 2020, the
lowest levels seen since 1984. This has caused a drop in demand for control systems, making it harder for control
systems providers to attract customers and generate revenues, and accelerating market decline overall.
The COVID-19 pandemic has also created severe economic difficulties across Europe, which have impacted the
market due to its correlation with macroeconomic indicators. According to MarketLine data, GDP growth in
Germany fell to -4.9% in 2020, the lowest level seen in a decade. A similar downwards trend has been witnessed in
Italy and France, with GDP growth falling to -8.9% and -8.2% respectively. As businesses suffer under challenging
economic conditions, the demand for products such as control systems reduces significantly as businesses do not
possess the financial capital to purchase or upgrade their control systems. However, a strong economy recovery is
projected across Europe, which should increase businesses’ purchasing power and consumer confidence. Overall,
this will positively benefit market growth going forwards.
The DCS segment was the market's most lucrative in 2020, with total revenues of $3.8bn, equivalent to 54.7% of
the market's overall value. The PLC segment contributed revenues of $3.1bn in 2020, equating to 45.3% of the
market's aggregate value.
DCS was the most valuable segment for the control systems market, while PLC was the second most valuable, due
to their technical differences. PLC is a specialized processor/ computer with all the hardware and software to do a
specific automation task, including running a plant/factory. This means that all the Field/Realworld Inputs are
processed by the PLC and then issue commands to various devices and actuators. As PLC is a digital system, there
is no physical segregation for critical application such as protections and if the controllers fail the control system
shuts down completely. On the other hand, DCS is created to solve these problems. In a DCS the entire logic and
hardware is distributed or broken into different microprocessors or functional groups for ease of implementation
and to provide segregation. This means that if one processor fails, then there are other microprocessors which
could take charge and keep the system online until repair. DCS are cheaper than PLC systems, but companies who
would rather go with a more advanced alternative prefer PLC systems.

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The performance of the market is forecast to accelerate, with an anticipated CAGR of 5.4% for the five-year period
2020 - 2025, which is expected to drive the market to a value of $8.9bn by the end of 2025. Comparatively, the
Asia-Pacific and US markets will grow with CAGRs of 7.1% and 5.1% respectively, over the same period, to reach
respective values of $10.6bn and $4.2bn in 2025.
As countries across Europe emerge from the pandemic and aim to boost economic recovery, the introduction of
government policies to enhance the industrial sector could positively benefit the market going forwards. For
example, the European Industrial Strategy, implemented by the European Commission aims to accelerate digital
and ecological transformation in the industrial sector. This could provide new opportunities for control systems
companies to supply products and services in a range of different markets, generating a broader customer pool
and boosting sales.

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3. Market Data
3.1. Market value

The European control systems market shrank by 14.1% in 2020 to reach a value of $6,885.6 million.
The compound annual rate of change of the market in the period 2016–20 was -4.1%.
Table 1: Europe control systems market value: $ million, 2016–20
Year $ million € million % Growth

2016 8,137.3 7,135.0
2017 8,359.8 7,330.1 2.7%
2018 8,877.3 7,783.8 6.2%
2019 8,016.3 7,028.9 (9.7%)
2020 6,885.6 6,037.4 (14.1%)
CAGR: 2016–20 (4.1%)

SOURCE: MARKETLINE MARKETLINE
Figure 1: Europe control systems market value: $ million, 2016–20

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4. Market Segmentation
4.1. Category segmentation

Dcs is the largest segment of the control systems market in Europe, accounting for 54.7% of the market's total
value.
The Plc segment accounts for the remaining 45.3% of the market.
Table 2: Europe control systems market category segmentation: $ million, 2020
Category 2020 %
Dcs 3,765.7 54.7%
Plc 3,119.9 45.3%
Total 6,885.6 100%

Figure 2: Europe control systems market category segmentation: % share, by value, 2020

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4.2. Geography segmentation

Asia-pacific accounts for 36.7% of the European control systems market value.
United States accounts for a further 15.8% of the European market.
Table 3: Europe control systems market geography segmentation: $ million, 2020
Geography 2020 %
Asia-pacific 7,557.8 36.7
United States 3,257.9 15.8
Germany 2,492.1 12.1
Japan 2,338.2 11.4
Rest Of The World 4,947.8 24.0
Total 20,593.8 100%

Figure 3: Europe control systems market geography segmentation: % share, by value, 2020

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5. Market Outlook
5.1. Market value forecast

In 2025, the European control systems market is forecast to have a value of $8,936.7 million, an increase of 29.8%
since 2020.
The compound annual growth rate of the market in the period 2020–25 is predicted to be 5.4%.
Table 4: Europe control systems market value forecast: $ million, 2020–25
Year $ million € million % Growth

2020 6,885.6 6,037.4 (14.1%)
2021 6,939.5 6,084.7 0.8%
2022 7,581.3 6,647.5 9.2%
2023 8,013.8 7,026.7 5.7%
2024 8,469.2 7,426.0 5.7%
2025 8,936.7 7,835.9 5.5%
CAGR: 2020–25 5.4%

Figure 4: Europe control systems market value forecast: $ million, 2020–25

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6. Five Forces Analysis

The control systems market will be analyzed taking manufacturers of control systems as players. The key buyers
will be taken as industrial companies, and suppliers of semiconductors and raw materials as the key suppliers.
6.1. Summary
Figure 5: Forces driving competition in the control systems market in Europe, 2020
The degree of rivalry in the European control systems market is assessed as moderate. The market is large and brings
together a diverse group of companies. However, although large, players in this market are relatively few. This means
that the market is consolidated, which eases rivalry as there are less players seeking to infringe on the revenue streams
of competitors. The COVID-19 pandemic has accelerated market decline, intensifying rivalry between players as they
compete for a limited number of business opportunities in a contracting market.
There are a number of large multinational companies, such as Siemens, Robert Bosch and Emerson Electric, that supply
products to many different industries. As control systems are very important for efficiency and competitiveness, and
there are a relatively low number of sellers globally, buyer power is moderate.
Supplier power is also moderate. Many of the components used in the manufacture of control systems are readily
available but more advanced systems can require special parts which are more difficult to acquire. Players are unlikely
to integrate backwards and produce these parts.
Recent years have seen relatively slow market growth and in traditional segments there are a number of incumbents
who have strong reputations and multinational sales and service networks. This may further deter companies from
entering the market.
Although programmable logic controllers (PLC) and distributed control systems (DCS) are becoming outdated, they are
still more suited for most purposes and far cheaper than most substitutes. The threat of substitutes is therefore very
weak.

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6.2. Buyer power
Figure 6: Drivers of buyer power in the control systems market in Europe, 2020
Possible applications of control systems can extend to virtually any mechanical or electronic process. Industries that
make use of control systems include factory automation, oil and gas, mining, and water treatment. Potential buyers can
range from small to very large. Companies like Siemens and ABB compete for government contracts whereas other
buyers will be smaller and will request specific jobs such as the control system for a gold mine. Large contracts are
often riskier for both the seller and buyer as the cost is negotiated upfront. Cancellation fees can be incurred and the
project can take longer than expected. Programmable logic controllers (PLCs) and distributed control systems (DCS) can
also be purchased as standalone components in order for a company to create its own control system infrastructure or
use a system integrator, some of which partner with the large manufacturers.
In some industries, such as nuclear power, buyer power has been decreasing. Since the 2011 Fukushima nuclear
disaster, the German government has embarked on plans to phase out nuclear power by 2022. The UK also plans to cut
its reliance on nuclear energy by half by 2025. The removal of government support means incumbent companies have
to compete for a number of customers which is highly unlikely to expand in the future. However, a growing emphasis
on renewable energy in Europe could create new opportunities for control systems companies to provide products and
services in areas such as wind farming, solar power, and hydroelectric power. For example, leading global company
General Electric offers a SmartControl Distributed Control System for hydropower plants. This could enhance buyer
power.
Purchasing decisions are often made after an objective assessment of product performance, price, and suitability for
the intended purpose. Factors such as reliability and after-sales service may be difficult to assess prior to purchase,
making the strong reputation of leading manufacturers important in securing sales.
Large German companies such as Volkswagen are embarking on major reform to improve efficiency of factories located
in Germany, creating a need for improved control systems. Other companies are doing likewise in preparation for the
problems anticipated from an aging population. Control systems are an essential part of modern automated industry
and allow for greatly enhanced efficiency and functionality. Further many buyers in the German manufacturing sector
are suffering from a shortage of staff and are therefore increasingly looking towards automation. A poll conducted by
the German Chamber of Commerce and Industry (DIHK) for example found that 56% of companies in Germany state
that a shortage of skilled workers is the biggest threat their businesses face. Increased reliance on control systems
reduces their power as these products become essential for their business.

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Switching costs can be significant. These can include the potential difficulty of integrating products from a new
manufacturer with an existing installation and the need to train employees in a different range of products. Thus,
buyers in the market tend to enter long-term contracts with the market players which may vary from 10 to 15 years,
based on the industry the buyers are operating in or the country. Companies in developing countries are likely to enter
into longer contracts with buyers due to the relative lack of infrastructure or technology. In addition, it is very common
for companies which operate in oil and gas industry or markets similar to that, to enter long-term contracts with the
buyers in the market due to the complexity of the control systems in those specific markets, which makes it harder and
more expensive to train employees. This increases buyer power to a certain extent.
Manufacturers of PLCs and DCS create more value by incorporating their products into complete systems. However, it
is highly unlikely that they would integrate into industries which commonly employ these systems as they are often very
different and specialized. Equally, most customers would not benefit from integrating backwards to manufacture
control system components. This reduces buyer power. Consolidation within industries such as the automotive,
aluminum, steel and pharmaceutical industries could disrupt this and have a positive effect on buyer power by
increasing firm size and decreasing the number of available buyers.
Overall buyer power is assessed as moderate.

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6.3. Supplier power
Figure 7: Drivers of supplier power in the control systems market in Europe, 2020
The majority of control systems involve components such as microprocessors and microcontrollers, input and output
assemblies, power supplies, semiconductor devices, relays, switches, visual displays and enclosures. The controllers
themselves are made up of widely available computer parts. They are used by and available to a multitude of other
industries. This means that suppliers are not entirely dependent on the market for sales. Supplier power is
strengthened by this. Nonetheless, the leading players in the market are very large and provide a lot of custom for the
manufacturers of these components. This creates a relatively symbiotic relationship between the two.
Some players will need specially-made components. This can include custom semiconductor devices. Special orders
strengthen supplier power as switching costs are increased. Costs can be incurred from cancelling orders and moving to
new suppliers will involve components to be specified and tested all over again. This can cause a delay and slow down
the project.
Suppliers can adopt a variety of measures in order to mitigate potential price fluctuations. The most common counter
measure for commodities prices are the option or future contracts. By using option or future contracts suppliers can
secure the amount of commodities they want to buy in the future and fix the price. The options or futures prices are
not affected by commodities price fluctuations, meaning that suppliers will be able to avoid any potential losses. They
will have to only buy the option or future contract which can be provided by an investment bank and then wait until the
end of the contract. Suppliers can buy or sell their contracts to other companies or investors, enabling suppliers to
trade contracts for profit.
Manufacturers of control systems need to ensure that their products are innovative and offer a competitive
performance. Research and development can constitute a significant cost. This makes recruitment, support and
retention of highly skilled engineers and designers vital. Germany benefits from an advanced university education
system which produces an adequate supply of individuals with the requisite levels of ability. However, there may be
delays and other problems if an established development team is replaced or outsourced. These individual suppliers of
their talent and knowledge must be won as there are often many industries competing for the same talent.
Understaffing issues as well as new demands on resources due to COVID-19 are creating supply chain issues. The
control systems' supply chains have been hit by factory closures which has caused knock-on effects further up the
supply chain.
The majority of control systems involve components such as microprocessors and microcontrollers, input and output
assemblies, power supplies, semiconductor devices, relays, switches, visual displays and enclosures. The controllers

Industry Profiles
themselves are made up of widely available computer parts. They are used by and available to a multitude of other
industries. This means that suppliers are not entirely dependent on the market for sales. Supplier power is
strengthened by this. Nonetheless, the leading players in the market are very large and provide a lot of custom for the
manufacturers of these components. This creates a relatively symbiotic relationship between the two.
Some players will need specially-made components. This can include custom semiconductor devices. Special orders
strengthen supplier power as switching costs are increased. Costs can be incurred from cancelling orders and moving to
new suppliers will involve components to be specified and tested all over again. This can cause a delay and slow down
the project.
Suppliers can adopt a variety of measures in order to mitigate potential price fluctuations. The most common counter
measure for commodities prices are the option or future contracts. By using option or future contracts suppliers can
secure the amount of commodities they want to buy in the future and fix the price. The options or futures prices are
not affected by commodities price fluctuations, meaning that suppliers will be able to avoid any potential losses. They
will have to only buy the option or future contract which can be provided by an investment bank and then wait until the
end of the contract. Suppliers can buy or sell their contracts to other companies or investors, enabling suppliers to
trade contracts for profit.
Manufacturers of control systems need to ensure that their products are innovative and offer a competitive
performance. Research and development can constitute a significant cost. This makes recruitment, support and
retention of highly skilled engineers and designers vital. Germany benefits from an advanced university education
system which produces an adequate supply of individuals with the requisite levels of ability. However, there may be
delays and other problems if an established development team is replaced or outsourced. These individual suppliers of
their talent and knowledge must be won as there are often many industries competing for the same talent.
Understaffing issues as well as new demands on resources due to COVID-19 are creating supply chain issues. The
control systems' supply chains have been hit by factory closures which has caused knock-on effects further up the
supply chain. According to Eurostat, overall European imports and exports decline by -11.7% and -9.4% respectively Y-
o-Y in December 2020. This is likely to have had consequences for supplier power. One the one hand, it could have
impeded supplier’s access to materials used to manufacture control systems components, which would reduce supplier
power due to the inability to provide parts for its customers. However, it could also impact the ability of control systems
manufacturers themselves to obtain components, which could enhance supplier power as suppliers are able to
negotiate higher prices when materials are scarce.
Overall, supplier power is moderate.

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6.4. New entrants
Figure 8: Factors influencing the likelihood of new entrants in the control systems market in Europe, 2020
The control systems market has relatively low barriers to entry when compared with capital-intensive industries such as
oil and gas. However, a significant amount of capital would be required to set up a manufacturing facility even at a
small and medium-sized enterprises (SMEs) scale. Though supplies, raw materials and distribution channels necessary
to manufacture and sell control systems are relatively accessible, SMEs would struggle to compete with large
incumbents due to scale, especially for larger and more lucrative deals.
Market leaders such as Robert Bosch and Siemens are well known for the quality of their products and stake a great
deal of business on their reputation. A potential buyer might be unwilling to risk buying products from a new entrant
that has yet to establish such a reputation, since control systems are usually very important to the customer's own
operations. An international network of sales and service offices will be costly for a new player to replicate.
Interoperability is another issue which makes it difficult for new entrants offering a small range of control system
components to compete effectively for market share. Possible new entrants could be existing technology companies
that can develop innovative control system solutions and enter the market from a position of success in a related
market.
Intellectual property is fairly important. Success in this business requires a steady stream of effective and innovative
products to be brought to the market. The main incumbents have built up considerable expertise, which allows them to
offer more appropriate solutions. For example, Robert Bosch has 11 research facilities around the world, employing a
total of 1,800 highly specialized employees. In 2020, the company spent €5.9bn ($6.7bn) on research and development,
8.3% of the company’s total revenues for the year. These intellectual assets along with prior experience give
incumbents an advantage over new entrants.
Many industries are undertaking investment into new technology to improve competitiveness and automation in light
of coming problems created by an aging workforce. Companies such as Schaefer Kalk, a lime producer and
manufacturer of related products in Germany, have recently undertaken major investment in new technology to
improve efficiency and product quality, requiring up-to-date control systems. Capital investment in updating
manufacturing practices will increase the chances of new entrants finding customers, especially as large companies
seek to expand automation to maintain competitiveness on the global stage.
Germany is Europe’s largest control systems market, therefore the performance of this market has consequences for
the European market overall. Due to disruption caused by the COVID-19 pandemic, the German market, like many
others, contracted in 2020. More generally, the European economy has been adversely impacted by the coronavirus

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outbreak, dampening demand for control systems as businesses are less willing to invest in new systems during a
challenging financial year. These unfavorable market conditions are likely to put off new entrants. However, the
European market is expected to make a modest return to positive growth in 2021, followed by relatively strong
consecutive growth over the remainder of the forecast period. This could attract new entrants in the coming years.
Overall, the threat of new entrants is assessed as weak.

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6.5. Threat of substitutes
Figure 9: Factors influencing the threat of substitutes in the control systems market in Europe, 2020
Few effective substitutes exist in this market. Early mechanical systems persist in some applications. They cannot,
however, operate at the required level for modern industrial applications. Process Automation Controls (PACs) are
often more expensive than programmable logic controllers (PLCs) and distributed control systems (DCS) and are
considered by some as simply very advanced PLCs.
Although the traditional PLC and DCS is gradually becoming outdated by higher performance technology, it is not
currently threatening the market. Buyers typically require functionality which PLCs and DCSs are capable of providing,
and more advanced systems would, in many cases, be a waste of resources. Continuous developments of these systems
by incumbents has maintained competition and met buyer demands.
More advanced substitutes are often only required in situations where high regulatory standards are imposed, such as
the pharmaceutical industry. Some manufacturers build and publish industry specific instruction sets for PACs in
technologically sophisticated industries due to the advanced complexity. PACs are often used with enterprise-level
supervisory control and data acquisition (SCADA) systems. These can control industrial process remotely, directly
interact with sensors and industrial equipment through human-machine interface (HMI) software and gather real-time
data. Efforts from companies such as Volkswagen which are seeking to upgrade factories to improve efficiency will
create investment opportunities in the most advanced PACs, but growth in these systems over the long-term could be
tempered by the winding down of the nuclear industry, which commonly uses PACs. For the majority of cases the
current generation of control systems is adequate.
Overall, there is a very weak threat of complete substitution.

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6.6. Degree of rivalry
Figure 10: Drivers of degree of rivalry in the control systems market in Europe, 2020
The market is dominated by a small number of companies, including Robert Bosch, Siemens, ABB, and Schneider
Electric. The leaders are all extremely large, multinational companies which increases rivalry within the market. These
companies often have diverse interests and are not dependent solely upon control systems for their revenues, which
decrease rivalry. It is rare that two players within this market will compete along their entire product line, reducing
rivalry. Nevertheless, control systems do form a significant portion of company revenues and so while strong
competition is not ubiquitous, it is apparent in the market. However, a relatively small number of players means that
this market is rather consolidated, which reduces the degree of rivalry as there are less players seeking to infringe on
the revenue streams of competitors.
Competition revolves around not only the price, but also product reliability, innovation, and after-sales service. This
translates into relatively high fixed costs. High fixed costs makes it even harder for players looking to exit the market, as
they would have to divest manufacturing materials, facilities, and highly trained personnel. There are not many players
in the market that could absorb the hit, increasing rivalry in the market as players have to avoid this situation at any
cost.
Successful companies must maintain research and development teams, service networks, and production plants,
regardless of the level of sales. Manufacturers often have a network of partnered integrators who can deliver control,
monitoring and automation solutions for buyers.
The performance of the European control systems market has historically been poor overall, with a CAGR of -4.1%
between 2016 and 2020. This has been bolstered by two consecutive years of contraction in 2019 and 2020, which has
heated up competition as fewer growth opportunities have increased the likelihood of players infringing on one
another’s market share.
Overall, the degree of rivalry is moderate.

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7. Competitive Landscape
The performance of the European control systems market has been poor over the past two years, with negative
growth being accelerated in 2020 due to disruption caused to the market by the COVID-19 pandemic. This has
intensified rivalry between leading market players as they compete for a limited number of business opportunities
in a contracting market. Of the top four leading players in the market, two (Robert Bosch and Siemens) are based
in Germany, one (Schneider) is based is France, and one (ABB) is based in Switzerland. However, all four leading
players benefit from the scale of international operations, which has helped boost revenues. The top companies in
the market serve a diverse range of industries, a strategy which has proved to be beneficial during the COVID-19
pandemic. Some companies in the market also invested heavily in research and development to enhance their
product offering and gain a competitive advantage over their rivals.
7.1. Who are the leading players?

Robert Bosch GmbH
Robert Bosch GmbH (Bosch) is the largest player in the European control systems market by revenue, generating
$81.5bn in 2020. The significant financial capital possessed by the company means that it is able to invest heavily
in enhancing its brand image and expanding its product offering, establishing it as a major competitor in the
market. The company is based in Stuttgart, Germany, and produces power tools, heating systems, accessories,
eBike systems, household appliances, security systems and solar inverters. It also offers industry solutions,
packaging technology and business process management solutions. Bosch operates through engineering locations,
subsidiaries and regional companies in countries across Europe, the Americas, Asia, the Middle East and Africa.
Siemens AG
Siemens AG (Siemens) is technology company with core activities in the areas of automation, electrification and
digitization. Siemens offers products, solutions and services for medical imaging and laboratory diagnostics; power
generation, oil and gas production and transportation; transmission and distribution; industrial technologies and
automation systems; infrastructure and building technologies; mobility and logistics solutions. It primarily caters to
public utility companies, oil and gas companies, independent power producers, transportation companies,
hospitals and diagnostics centers, infrastructure developers and network operators. Although the company is
headquartered in Munich, Germany, it has a strong global presence. Despite seeing its revenues decline by -0.52%
over the year due to the impact of the COVID-19 pandemic, Siemens remains the second largest player in the
European market by revenue. In 2020, the company reported revenues of €57.1bn ($65.1bn), the majority of
which was generated from European markets. This solid financial performance has helped it to strengthen its
position in the market.
Schneider Electric SE
Schneider Electric SE (Schneider) is a provider of energy and automation digital solutions. The company offers
automation and control products, low voltage products and systems, solar and energy storage, critical power, and
medium voltage distribution and grid automation. Schneider is headquartered in France but has operations across
Europe, North America, and the Asia-Pacific region, meaning that the company benefits from the scale of
international operations. Like Siemens, Schneider suffered a loss of revenues in 2020 as a result of disruption
caused by the COVID-19 pandemic, declining by -5.7% over the year. Despite this, Schneider remains the third
largest player in the European market by revenue, and its strong financial muscle has secured its status as a key
competitor.
ABB, Ltd.
ABB, Ltd. (ABB) is a global provider of power and automation technologies, provided digitally connected and
enabled industrial equipment and systems to customers across a range of industries, including utilities, transport,
and infrastructure. ABB is headquartered in Switzerland, but also operates in Germany, as well as wider Europe,
Asia, the Americas, the Middle East, and Africa. The company reported a decrease in revenues of 6.6% for the
fiscal year ended December 2020. Nonetheless, reported revenues of $26.1bn for the year mean that ABB is the

Industry Profiles
fourth largest player in the European control systems market by overall revenue. This intensifies rivalry between
leading players as they are able to utilize their financial capital to expand their product offering and capabilities to
attract customers and compete for business opportunities.
7.2. What strategies do leading players follow?

Siemens minimizes risk exposure in the market and increases its revenues streams by offering its products and
solutions to a broad array of industries. For example, through its Power and Gas segment, Siemens serves
companies in engineering, procurement and construction; sovereign and multinational oil companies; public
utilities and independent power producers; and industrial customers that generate power for their own
consumption. Conversely, the company’s Siemens Healthineers segment serves pharmaceutical companies, public
and private healthcare providers, and clinical research institutes. The company also has an Energy Management
segment, with customers in areas such as transmission and distribution system operators, distributors and OEMs,
power providers, industrial companies, infrastructure developers and construction companies. This strategy has
been particularly beneficial during the COVID-19 pandemic. Although the virus outbreak has impacted the majority
of industries around the world, this has been to varying degrees, with industries such as construction most keenly
feeling the impact of the pandemic. By providing services to multiple industries Siemens has shielded itself from
the risks of operating in a single market and has still managed to generate substantial revenues over the year.
ABB, by focusing on its research and development (R&D) segment, enhances and increases the range of its
products. In 2020, the company invested $1.1bn into R&D activities, 4.3% of its total revenues for the year and its
highest expenditure ever in this segment. The company focuses on developing new and innovative products as
well as strengthening its existing product portfolio. The company develops platforms for technology applications
for the automation and power businesses in laboratories. It has collaborations with universities and research
institutions to build research networks and new technologies. For instance, ABB launched a full range of UniGear
Digital medium-voltage air-insulated switchgear for primary substations at the CIRED conference in Lyon, France.
ABB's robust R&D capabilities enable it to develop innovative products and sharpen its competitive edge in the
market.
Robert Bosch provides a variety of products to a broader client base, minimizing the risks which originate from
operating in a single market. The company provides diversified offerings and its operating business segments
include mobility solutions, industrial technology, energy and building technology, consumer goods and other
business segments. The mobility solutions segment primarily consists of injection technology for internal-
combustion engines; alternative powertrain concepts; efficient and networked powertrain; peripherals; systems
for active and passive driving safety; assistance and comfort functions; technology for user-friendly infotainment
as well as car-to-car and Car2X communication; and concepts, technology, and services for the automotive
aftermarket. The segment's product portfolio includes gasoline systems, diesel systems, chassis systems brakes,
chassis systems control, electrical drives, starter motors and generators, car multimedia, automotive electronics,
automotive aftermarket and steering systems. The group provides drive and control technology, packaging
technology and photovoltaic products through its industrial technology segment. The group's energy and building
technology segment offers a range of products and services in the fields of heating, air-conditioning, and security.
The segment offers video-surveillance, intrusion detection, and fire-detection systems, as well as access-control,
public-address and evacuation systems, and professional audio and conference systems.
7.3. What has been the rationale behind recent M&A activity?
In 2019, Siemens and State Power Investment Corporation (SPIC) signed a memorandum of understanding for
collaboration on the development and utilization of green hydrogen. Under the terms, Siemens and SPIC will
further collaborate on the technical and commercial development of hydrogen projects and jointly explore
innovation in hydrogen-related fields to accelerate development of the hydrogen energy industry. The two
companies will also work on developing a demonstration project for Sino-German scientific and technology
innovations for green hydrogen. In this project, Siemens and SPIC will explore the potential for an electrolytic
hydrogen competence center and jointly formulate industry standards for electrolytic hydrogen production.

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In addition, Siemens plans to partner with US based electronics company, Allied Electronics & Automation, in early
2021 to design more efficient and flexible control panel components. Deploying Siemens’ unique SIRIUS modular
system, both companies plan to improve the ease of use of control panel systems and save both time and space
for users. The SIRIUS system has already successfully undergone over 50,000 tests and approvals, which could help
to increase consumer trust in the product. The companies plan to deploy the SIRIUS control system worldwide,
and if successful could help Siemens to boost its revenues after a challenging financial year due to the COVID-19
pandemic.
ABB and Rolls-Royce have also recent formed a global partnership to accelerate innovation in the field of microgrid
technology and advanced automation. Together the two companies will offer microgrid solutions for utilities and
commercial and industrial entities. The microgrid will provide the overall control to coordinate resources to meet
the requirements of industrial, residential or consumer loads. Microgrids can either function off-grid or connect to
the main power grid. The ability of microgrids to seamlessly separate themselves from the main grid, in the event
of a potential grid fault or emergency, is an increasingly important feature. This collaboration enables ABB to
expand its product offering, thus attracting more customers and boosting revenues. It also reflects the company’s
ambitions to be at the forefront of innovation within the control systems market, a goal which is likely to
strengthen its position as a major competitor within the market due to the provision of unique, state-of-the-art
products.
Schneider utilizes strategic acquisitions and partnerships as a way to diversify its product offering and expand its
geographic reach, enabling the company to strengthen its position in the market. For example, in July 2020,
Schneider entered a partnership with Anord Mardix Inc., a US based company engaged in power management.
Through this collaboration, Schneider intends to deliver safer, simpler, and more efficient busway systems, power
distribution units, and static transfer switch systems to its North American customers. In August of the same year,
Schneider acquired German industrial automation and process control technology provider, ProLeiT AG. The
transaction will provide Schneider with access to ProLeiT’s international client base and business capabilities in
delivering control systems to the food and beverage segment. This could prove to be a lucrative opportunity for
Schneider to enter and new market and attract a greater pool of customers, thus boosting revenues.
7.4. How is the COVID-19 pandemic affecting the market?

The coronavirus pandemic was confirmed to have reached Europe in January 2020. The continent has been one of
the worst affected areas. As a result, countries have been put under strict social distancing measures to prevent
further spread of the virus. These measures effectively ground the region to a halt in parts, significantly impacting
business productivity across a number of industries, including within the control systems market. Furthermore, the
pandemic has caused a global recession, which has had a substantial knock-on effect for the control systems
market due to its vulnerability to macroeconomic indicators. Lockdown measures have meant that firms have had
to evaluate cyber security for control systems, particularly those which control important industrial processes.
Cyber-attacks could lead to reduced economic output, financial difficulty (in an already difficult time),
compromised information and regulatory issues. These systems can be critical to operation of power generation
facilities, transmission equipment, vital infrastructure and chemical processing plants. Issues such as understaffed
teams, new demands on resources, and disruption to the global supply chain has affected the market as it declined
in 2020. Market decline has also heated up competition between leading players; however, with a recovery
expected in the following years, the impact of the pandemic on market players should only be short-term.

Industry Profiles
8. Company Profiles
8.1. Robert Bosch GmbH
8.1.1. Company Overview
Robert Bosch GmbH (Bosch or 'the group') is a global supplier of automotive, consumer goods, industrial
technology, and energy and building technology products. The group’s major products include power tools,
heating systems, accessories, eBike systems, household appliances, security systems and solar inverters. It also
offers industry solutions, packaging technology and business process management solutions. The group serves
customers in various industries span across Do it Yourself market, automobile, BPO and consumer electronics.
Bosch operates through engineering locations, subsidiaries and regional companies in countries across Europe,
the Americas, Asia Pacific, the Middle East and Africa. The company is headquartered in Stuttgart, Germany.
8.1.2. Key Facts
Table 5: Robert Bosch GmbH: key facts
Head office: Postfach 30 2 20 , Stuttgart, Baden-Wurttemberg, Germany

Number of Employees: 409881
Website: www.bosch.com
Financial year-end: December
SOURCE: COMPANY WEBSITE MARKETLINE
8.1.3. Business Description
Robert Bosch GmbH (Bosch or ‘the group’) is a global supplier of technology products and services. The group
offers a range of products, including automotive components, drive and control technology, security systems, and
household appliances. About 92% of the share capital of Bosch is held by Robert Bosch Stiftung, a charitable
foundation. Bosch comprises about 460 subsidiaries and regional companies in more than 60 countries.
The group operates through five business segments: mobility solutions, industrial technology, consumer goods,
energy and building technology and others.
The mobility solutions segment offers a range of solutions, including injection technology for internal-combustion
engines; alternative powertrain concepts; networked powertrain; peripherals; systems for active and passive
driving safety; assistance and comfort functions; technology for user-friendly infotainment as well as vehicle-to-
vehicle and vehicle-to-infrastructure communication; and concepts, technology, and services for the automotive
aftermarket. The segment can be broadly categorized into gasoline systems division, diesel systems division,
chassis systems control division, electrical drives division, starter motors and generators division, car multimedia
division, automotive electronics division, automotive aftermarket division, and automotive steering systems
division. The gasoline systems division develops and produces technologies for internal-combustion engines using
gasoline, natural gas, and ethanol, as well as systems and components for hybrid and electric vehicles. The diesel
systems division offers a range of diesel injection systems for passenger cars, commercial vehicles, as well as for
other applications. The division also provides air management systems such as mass air-flow sensors, electronic
diesel control (EDC), and exhaust-gas management systems such as Denoxtronic, as well as solutions for diesel
hybrid vehicles. The chassis systems control division develops and manufactures components, features, and
systems aimed at improving driving safety and comfort, including master cylinder, hydraulic units, brake boosters,
and braking assistance systems. Electrical drives division offers a range of electromechanical components and

Industry Profiles
systems for bodywork applications, including actuators, systems and components for engine thermal
management, air-conditioning, and windshield cleaning. The starter motors and generators division develops and
manufactures starters and alternators for passenger cars and commercial vehicles. Its product offerings include
long-life starters for gasoline and diesel engines. The car multimedia division offers solutions for in-car
entertainment, navigation, telematics, and driver-assistance systems. The automotive electronics division develops
and manufactures microelectronics and provides systems integration and vehicle calibration services. The
automotive aftermarket division manages the sales and worldwide logistics of vehicle spare parts and products for
the aftermarket. It also includes in-house production and technical customer support for automotive products and
systems. The automotive steering systems division manufactures and sells steering technology for passenger cars
and commercial vehicles. In addition to complete steering systems, steering columns, and steering pumps for
vehicles ranging from small cars to commercial vehicles, the product line also covers components such as valves,
universal joints, and steering shafts. The segment also includes ETAS Group companies, which provide solutions for
embedded software systems for use in the automotive and other industries. In FY2019, the mobility solutions
segment reported revenue of EUR46,784 million, which accounted for 60.2% of the group’s revenue.
The consumer goods segment includes power tools and household appliances subdivisions. The power tools
subdivision offers a range of products such as hammer drills, impact screwdrivers and jigsaws. It also offers
gardening equipment such as lawnmowers, hedge trimmers and high-pressure cleaners. In addition, the division
offers innovative, digital laser measurement tools for both professional and DIY (do it yourself) users. The
accessories include a comprehensive range of abrasive systems, drill bits, and saw blades. It offers is tools under
the Bosch, Skil, and Dremel brands. The household appliance subdivision offers a range of products, including
washing machines, dryers, refrigerators, freezers, dishwashers, and vacuum cleaners. It also offers small
appliances such as coffee makers, irons, and hot-water appliances. The division sells its products under the Bosch
and Siemens brands, as well as under regional and specialty brands such as Gaggenau, Neff, Thermador,
Constructa, Zelmer, Balay, and Pitsos. In FY2019, the consumer goods segment reported revenue of EUR17,752
million, which accounted for 22.8% of the group’s revenue.
The industrial technology segment operates through two sub-divisions: drive and control technology, and
packaging technology. Bosch, through its drive and control technology subsidiary Bosch Rexroth, provides
customized drive, control, and actuator solutions for factory automation, plant construction and engineering,
mobile machinery, and commercial vehicles. The division operates as a systems partner, service provider and
supplier in more than 80 countries. In addition, it also offers a range of services and is involved in large-scale
international projects such as power plants and lifting systems. The Bosch packaging technology sub-division
provides process and packaging solutions for the pharmaceuticals, food, and confectionery industry, as well as
selected segments of the beverages industry. Its product catalogue includes individual modules, customer-specific
systems, and complete solutions. The division also offers comprehensive after-sales services. The division also
includes ATMO, Bosch's in house supplier of assembly systems and special-purpose machinery. ATMO develops
flexible, scalable plans for assembly systems and builds customized solutions in the field of testing and calibration
technology. Its portfolio ranges from planning to turnkey plants, including ramp-up support, and includes a range
of services. In FY2019, the industrial technology segment reported revenue of EUR7,494 million, which accounted
for 9.6% of the group’s revenue.
The energy and building technology segment covers a range of products and services in the fields of heating, air-
conditioning, and security. It operates through security systems and thermotechnology subdivisions. The security
systems subdivision provides products and services in the fields of video-surveillance, intrusion-detection, and fire-
detection systems, as well as access-control, public-address, and evacuation systems, and professional audio and
conference systems. The thermotechnology division is engaged in the manufacturing of heating products and hot-
water solutions, including floor-standing and wall-mounted heaters, industrial boilers and cogeneration plants .
The segment also includes the service-provider subsidiary, Bosch Energy and Building Solutions. In FY2019, the
energy and building technology segment reported revenue of EUR5,654 million, which accounted for 7.2% of the
group’s revenue.
The company’s all other segment includes financial and holding companies as well as other service companies. It
includes Bosch Software Innovations subsidiary, which standardized solutions, particularly in the areas of energy,
industry, and mobility. In FY2019, the all other segment reported revenue of EUR37 million, which accounted for
0.4% of the group’s revenue.

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Geographically, Bosch classifies its operations into four regions: Europe, the Americas, Asia Pacific and Other
Regions. In FY2019, Europe accounted for 52.5% of the group’s revenue, followed by Asia Pacific with 27.5%, the
Americas with 18.5% and Others with 1.3%.

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Table 6: Robert Bosch GmbH: Key Employees
Name Job Title Board

Beatrice Weder Di Mauro Director Non Executive Board
Christian Brunkhorst Director Non Executive Board
Head Energy and Building Technology
Christian Fischer Senior Management
Business Sector (BBE)
Christian Sobottka President Automotive Steering Senior Management
Christof Bosch Director Non Executive Board
Christoph Kubel Director Industrial Relations Senior Management
Head Automotive systems integration
Dirk Hoheisel Senior Management
activities , Mobility Solutions business
Elgar Fleisch Director Non Executive Board
Franz Fehrenbach Chairman Non Executive Board
Gerhard Johannes Steiger President Chassis Systems Control Senior Management
Harald Kroeger Member Senior Management
Hartwig Geisel Deputy Chairman Non Executive Board
Henning von Boxberg President Bosch Global Service Solutions Senior Management
Jorg Hofmann Director Non Executive Board
Karin Solda Director Non Executive Board
Kerstin Mai Director Non Executive Board
Klaus Friedrich Director Non Executive Board
Manfred Baden President Automotive Aftermarket Senior Management
Mario Gutmann Director Non Executive Board
Markus Heyn Member Senior Management
Martina Koederitz Director Non Executive Board
Matthias Georg Madelung Director Non Executive Board
Michael Kaschke Director Non Executive Board
Nadine Boguslawski Director Non Executive Board
Oliver Simon Director Non Executive Board
Per Johansson General Manager Robert Bosch Middle East Senior Management
Peter Spuhler Director Non Executive Board
Peter Tyroller Head Asia Pacific Senior Management
Rainer Kallenbach President Connected Mobility Solutions Senior Management
Reinhard Neul Project Manager - High Performance Sensors Operational Management
SOURCE: COMPANY FILINGS MARKETLINE

Industry Profiles
Table 7: Robert Bosch GmbH: Key Employees Continued

Renate Kocher Director Non Executive Board
Richard Walker Director Non Executive Board
Rolf Bulander Head Mobility Solutions Business Sector Senior Management
Rolf Najor President Drive and Control Technology Senior Management
Rolf Najork Head Industrial Technology Business Senior Management
Stefan Asenkerschbaumer Chief Executive Officer Deputy Senior Management
Stefan Konig President Packaging Technology Senior Management
Steffen Berns President Car Multimedia Senior Management
Tanja Ruckert President Building Technologies Senior Management
Uwe Gackstatte President Powertrain Systems Senior Management
Uwe Gackstatter President Powertrain Solutions Senior Management
Uwe Glock President Thermotechnology Senior Management
Volkmar Denner Chairman Executive Board
Wolfgang Malchow Director Non Executive Board

Industry Profiles
8.2. Siemens AG
Siemens AG (Siemens or ‘the company’) is a technology company with core activities in the areas of
automation, electrification and digitization. The company offers products, solutions and services for medical
imaging and laboratory diagnostics; power generation, oil and gas production and transportation; transmission
and distribution; industrial technologies and automation systems; infrastructure and building technologies;
mobility and logistics solutions. It serves public utility companies, oil and gas companies, independent power
producers, transportation companies, hospitals and diagnostics centers, infrastructure developers and network
operators. It has business operations across the Middle East, Europe, Africa, Commonwealth of Independent
States, the Americas, and Asia-Pacific. The company is headquartered in Munich, Germany.
The company reported revenues of (Euro) EUR57,139 million for the fiscal year ended September 2020
(FY2020), a decrease of 2.3% over FY2019. In FY2020, the company’s operating margin was 8.8%, compared to
an operating margin of 10.6% in FY2019. In FY2020, the company recorded a net margin of 7.1%, compared to a
net margin of 8.8% in FY2019. The company reported revenues of EUR16,085 million for the third quarter
ended June 2021, an increase of 9.7% over the previous quarter.
8.2.2. Key Facts
Table 8: Siemens AG: key facts
Head office: Werner-von-Siemens-Strasse 1 , MUENCHEN, Germany

Telephone: 498963600
Fax: 496966826664
Website: www.siemens.com
Financial year-end: September
Siemens AG (Siemens or ‘the company’) is a technology company focused on core business activities in the fields
of, digitalization, automation and electrification. The company offers various solutions, including medical
diagnostics, power transmission, infrastructure, power generation, automation, drive and software solutions. The
company operates across Europe, Asia Pacific, Africa, the Middle East, and the Americas.
Siemens operates through seven reportable business segments: Gas and Power; Siemens Healthineers; Digital
Industries; Smart Infrastructure, Mobility, Siemens Gamesa Renewable Energy and Financial Services (SFS).
The company's Gas and Power segment offers a broad spectrum of products and solutions for generating
electricity from fossil fuels and for producing and transporting oil and gas. Its portfolio includes gas turbines, steam
turbines, and generators to be applied to gas or steam power plants, compressors, integrated power plant
solutions, and instrumentation and control systems for power generation. It also offers maintenance services,
performance enhancements, customer trainings and consulting services. The segment serves companies in
engineering, procurement and construction; sovereign and multinational oil companies; public utilities and
independent power producers; and industrial customers that generate power for their own consumption In
FY2020, the Gas and Power segment reported revenue of EUR 17,663.0 million, which accounted for 19.8% of the
company’s total revenue.
The Siemens Healthineers segment offers technology solutions to the healthcare industry including medical
imaging and laboratory diagnostics. The company provides medical technology, software solutions and clinical
consulting services, supported by a comprehensive training and service offerings. It offers medical solutions

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spanning the treatment chain from prevention, early detection and diagnosis to treatment and follow-up care.
Siemens Healthineers serves pharmaceutical companies, public and private healthcare providers, and clinical
research institutes. In FY2020, the Siemens Healthineers segment reported revenue of EUR 14,517 million, which
accounted for 16.3% of the company’s total revenue.
The Digital Industries segment offers a range of products and system solutions used in manufacturing industries,
complemented by lifecycle and data-driven services. Its major products and solutions include industrial controls
and numerical control systems, automation systems and software for factory automation, complemented by
product and production lifecycle software, drives, motors, and inverters and integrated automation systems for
machine tools and production machines, and software for testing and simulation of mechatronic systems. In
FY2020, the Digital Industries segment reported revenue of EUR16,087.0 million, which accounted for 18.1% of
the company’s total revenue.
The Smart Infrastructure segment offers energy systems and building technologies. It serves its customers through
a broad variety of channels to global product and systems sales organization, distributors, panel builders, original
equipment manufacturers (OEM), value added resellers and installers and direct sales through the branch offices
of its regional solutions and services units worldwide. In FY2020, the Smart Infrastructure segment reported
revenue of EUR15,225 million, which accounted for 17.1% of the company’s total revenue.
The Mobility segment combines all Siemens businesses in the area of passenger and freight transportation,
including rail vehicles, rail automation systems, rail electrification systems, road traffic technology, IT solutions and
related services. The segment provides its customers with consulting, planning, financing, construction, service
and operation of turnkey mobility systems. Mobility also provides integrated mobility solutions for networking of
different types of traffic systems. Its major customers of include public and state-owned companies in the logistics
and transportation sectors. In FY2020, the Mobility segment reported revenue of EUR8,916 million, which
accounted for 10% of the company’s total revenue.
The company's Siemens Gamesa Renewable Energy segment designs, manufactures and installs wind turbines for
onshore and offshore applications. This includes both geared turbines and direct drive turbines. It also offers
services for the operation, managemen and maintenance of wind farms. The segment serves a variety of
customers, in particular large utilities and independent power producers. In FY2020, the Siemens Gamesa
Renewable Energy segment reported revenue of EUR10,227 million, which accounted for 11.5% of the company’s
total revenue.
The Financial Services segment provides its customers’ investments with leasing solutions and equipment, project
and structured financing in the form of debt and equity investments. With specialist financing and technology
expertise in the areas of Siemens businesses, the segment operates the corporate treasury of the company, which
includes managing liquidity, cash and interest risks as well as certain foreign exchange, credit and commodities
risks. In FY2020, the Financial Services segment reported revenue of EUR832 million, which accounted for 0.9% of
The company’s reconciliation to consolidated financial statements operation include centrally managed portfolio
activities (CMPA), Siemens Real Estate (SRE) and corporate functions. The centrally managed portfolio activities
consist of non-controlling equity stakes held by Siemens and activities related to divestment and discontinued
operations. Siemens Real Estate manages the company’s real estate business portfolio, is responsible for the
purchase and sale of real estate and building projects. It also operates the properties. In FY2020, reconciliation to
consolidated financial statements reported revenue of EUR5,526 million, which accounted for 6.2% of the
Geographically, the company classifies its operations into three regions: Europe, CIS, Africa and the Middle East;
the Americas, and Asia and Australia. In FY2020, Europe, CIS, Africa and the Middle East segment accounted for
51.1% of the company's revenue, followed by the Americas (27.4%) and Asia and Australia (21.5%).

Industry Profiles
Table 9: Siemens AG: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % 5.30 4.04 0.22 -29.58
Operating Income Growth % 21.14 3.44 -18.29 -0.13
EBITDA Growth % 17.37 6.93 -10.92 0.70
Net Income Growth % -25.16 9.38 -2.58 -10.90
EPS Growth % 0.94 5.04 -4.84 -11.64
Working Capital Growth % 4.49 18.21 13.69 17.77
Equity Ratios
EPS (Earnings per Share) EUR 6.30 6.42 7.13 6.34 5.72
Dividend per Share EUR 3.50 3.60 3.70 3.80 3.90
Dividend Cover Absolute 1.80 1.78 1.93 1.67 1.47
Book Value per Share EUR 42.63 42.33 52.95 56.14 59.21
Profitability Ratios
Gross Margin % 28.88 29.91 30.22 29.94 36.99
Operating Margin % 7.99 9.19 9.14 7.45 10.56
Net Profit Margin % 9.63 6.84 7.19 6.99 8.85
Profit Markup % 40.62 42.66 43.31 42.73 58.71
PBT Margin (Profit Before Tax) % 9.54 9.30 9.88 9.69 11.85
Return on Equity % 21.12 15.93 13.80 12.77 10.75
Return on Capital Employed % 7.48 8.84 8.41 6.79 6.21
Return on Assets % 12.10 4.43 4.55 4.22 3.58
Return on Working Capital % 50.86 58.96 51.60 37.08 31.45
Operating Costs (% of Sales) % 92.01 90.81 90.86 92.55 89.44
Administration Costs (% of Sales) % 15.08 14.65 14.92 15.58 18.28
Liquidity Ratios
Current Ratio Absolute 1.30 1.29 1.32 1.35 1.39
Quick Ratio Absolute 0.86 0.87 1.02 1.06 1.10
Cash Ratio Absolute 0.31 0.30 0.23 0.27 0.28
Leverage Ratios
Debt to Equity Ratio Absolute 0.86 0.91 0.75 0.71 0.76
Net Debt to Equity Absolute 0.50 0.52 0.50 0.42 0.46
Debt to Capital Ratio Absolute 0.46 0.48 0.43 0.41 0.43
Efficiency Ratios
Asset Turnover Absolute 1.26 0.65 0.63 0.60 0.40
Fixed Asset Turnover Absolute 14.82 7.82 7.84 7.43 4.96
Inventory Turnover Absolute 6.24 3.15 3.61 4.19 2.57
Current Asset Turnover Absolute 2.94 1.49 1.43 1.33 0.87
Capital Employed Turnover Absolute 0.94 0.96 0.92 0.91 0.59
Working Capital Turnover Absolute 6.37 6.42 5.65 4.98 2.98

Industry Profiles
Table 10: Siemens AG: Key Employees

Andrea Fehrmann Director Non Executive Board
Benoit Potier Director Non Executive Board
Bettina Haller Director Non Executive Board
Birgit Steinborn First Deputy Chairwoman Executive Board
Cedrik Neike Member Senior Management
Dame Nemat Talaat Shafik Director Non Executive Board
Dorothea Simon Director Non Executive Board
Grazia Vittadini Director Non Executive Board
Gunnar Zukunft Director Non Executive Board
Hagen Reimer Director Non Executive Board
Harald Kern Director Non Executive Board
Jim Hagemann Snabe Chairman Non Executive Board
Jurgen Kerner Director Non Executive Board
Kasper Rorsted Director Non Executive Board
Klaus Helmrich Member Senior Management
Lisa Davis Member Senior Management
Matthias Zachert Director Non Executive Board
Michael Diekmann Director Non Executive Board
Michael Sen Member Senior Management
Michael Sigmund Director Non Executive Board
Nathalie von Siemens Director Non Executive Board
Nicola Leibinger-Kammuller Director Non Executive Board
Norbert Reithofer Director Non Executive Board
Peter Korte Head Strategy Senior Management
Ralf P. Thomas Chief Financial Officer Senior Management
Robert Kensbock Director Non Executive Board
Roland Busch Chief Executive Officer Senior Management
Roland Busch President Senior Management
Werner Brandt Director Non Executive Board
Werner Wenning Second Deputy Chairman Executive Board

Industry Profiles
8.3. Siemens AG
Siemens AG (Siemens or ‘the company’) is a technology company with core activities in the areas of
automation, electrification and digitization. The company offers products, solutions and services for medical
imaging and laboratory diagnostics; power generation, oil and gas production and transportation; transmission
and distribution; industrial technologies and automation systems; infrastructure and building technologies;
mobility and logistics solutions. It serves public utility companies, oil and gas companies, independent power
producers, transportation companies, hospitals and diagnostics centers, infrastructure developers and network
operators. It has business operations across the Middle East, Europe, Africa, Commonwealth of Independent
States, the Americas, and Asia-Pacific. The company is headquartered in Munich, Germany.
The company reported revenues of (Euro) EUR57,139 million for the fiscal year ended September 2020
net margin of 8.8% in FY2019. The company reported revenues of EUR16,085 million for the third quarter
8.3.2. Key Facts
Table 11: Siemens AG: key facts
Head office: Werner-von-Siemens-Strasse 1 , MUENCHEN, Germany

Fax: 496966826664
Website: www.siemens.com
Financial year-end: September
Siemens AG (Siemens or ‘the company’) is a technology company focused on core business activities in the fields
of, digitalization, automation and electrification. The company offers various solutions, including medical
diagnostics, power transmission, infrastructure, power generation, automation, drive and software solutions. The
company operates across Europe, Asia Pacific, Africa, the Middle East, and the Americas.
Siemens operates through seven reportable business segments: Gas and Power; Siemens Healthineers; Digital
Industries; Smart Infrastructure, Mobility, Siemens Gamesa Renewable Energy and Financial Services (SFS).
The company's Gas and Power segment offers a broad spectrum of products and solutions for generating
electricity from fossil fuels and for producing and transporting oil and gas. Its portfolio includes gas turbines, steam
turbines, and generators to be applied to gas or steam power plants, compressors, integrated power plant
solutions, and instrumentation and control systems for power generation. It also offers maintenance services,
performance enhancements, customer trainings and consulting services. The segment serves companies in
engineering, procurement and construction; sovereign and multinational oil companies; public utilities and
independent power producers; and industrial customers that generate power for their own consumption In
FY2020, the Gas and Power segment reported revenue of EUR 17,663.0 million, which accounted for 19.8% of the
The Siemens Healthineers segment offers technology solutions to the healthcare industry including medical
imaging and laboratory diagnostics. The company provides medical technology, software solutions and clinical
consulting services, supported by a comprehensive training and service offerings. It offers medical solutions

Industry Profiles
spanning the treatment chain from prevention, early detection and diagnosis to treatment and follow-up care.
Siemens Healthineers serves pharmaceutical companies, public and private healthcare providers, and clinical
research institutes. In FY2020, the Siemens Healthineers segment reported revenue of EUR 14,517 million, which
accounted for 16.3% of the company’s total revenue.
The Digital Industries segment offers a range of products and system solutions used in manufacturing industries,
complemented by lifecycle and data-driven services. Its major products and solutions include industrial controls
and numerical control systems, automation systems and software for factory automation, complemented by
product and production lifecycle software, drives, motors, and inverters and integrated automation systems for
machine tools and production machines, and software for testing and simulation of mechatronic systems. In
FY2020, the Digital Industries segment reported revenue of EUR16,087.0 million, which accounted for 18.1% of
The Smart Infrastructure segment offers energy systems and building technologies. It serves its customers through
a broad variety of channels to global product and systems sales organization, distributors, panel builders, original
equipment manufacturers (OEM), value added resellers and installers and direct sales through the branch offices
of its regional solutions and services units worldwide. In FY2020, the Smart Infrastructure segment reported
revenue of EUR15,225 million, which accounted for 17.1% of the company’s total revenue.
The Mobility segment combines all Siemens businesses in the area of passenger and freight transportation,
including rail vehicles, rail automation systems, rail electrification systems, road traffic technology, IT solutions and
related services. The segment provides its customers with consulting, planning, financing, construction, service
and operation of turnkey mobility systems. Mobility also provides integrated mobility solutions for networking of
different types of traffic systems. Its major customers of include public and state-owned companies in the logistics
and transportation sectors. In FY2020, the Mobility segment reported revenue of EUR8,916 million, which
accounted for 10% of the company’s total revenue.
The company's Siemens Gamesa Renewable Energy segment designs, manufactures and installs wind turbines for
onshore and offshore applications. This includes both geared turbines and direct drive turbines. It also offers
services for the operation, managemen and maintenance of wind farms. The segment serves a variety of
customers, in particular large utilities and independent power producers. In FY2020, the Siemens Gamesa
Renewable Energy segment reported revenue of EUR10,227 million, which accounted for 11.5% of the company’s
total revenue.
The Financial Services segment provides its customers’ investments with leasing solutions and equipment, project
and structured financing in the form of debt and equity investments. With specialist financing and technology
expertise in the areas of Siemens businesses, the segment operates the corporate treasury of the company, which
includes managing liquidity, cash and interest risks as well as certain foreign exchange, credit and commodities
risks. In FY2020, the Financial Services segment reported revenue of EUR832 million, which accounted for 0.9% of
The company’s reconciliation to consolidated financial statements operation include centrally managed portfolio
activities (CMPA), Siemens Real Estate (SRE) and corporate functions. The centrally managed portfolio activities
consist of non-controlling equity stakes held by Siemens and activities related to divestment and discontinued
operations. Siemens Real Estate manages the company’s real estate business portfolio, is responsible for the
purchase and sale of real estate and building projects. It also operates the properties. In FY2020, reconciliation to
consolidated financial statements reported revenue of EUR5,526 million, which accounted for 6.2% of the
Geographically, the company classifies its operations into three regions: Europe, CIS, Africa and the Middle East;
the Americas, and Asia and Australia. In FY2020, Europe, CIS, Africa and the Middle East segment accounted for
51.1% of the company's revenue, followed by the Americas (27.4%) and Asia and Australia (21.5%).

Industry Profiles
Table 12: Siemens AG: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % 5.30 4.04 0.22 -29.58
Operating Income Growth % 21.14 3.44 -18.29 -0.13
EBITDA Growth % 17.37 6.93 -10.92 0.70
EPS Growth % 0.94 5.04 -4.84 -11.64
Working Capital Growth % 4.49 18.21 13.69 17.77
Equity Ratios
Gross Margin % 28.88 29.91 30.22 29.94 36.99
Profit Markup % 40.62 42.66 43.31 42.73 58.71
Return on Equity % 21.12 15.93 13.80 12.77 10.75
Return on Assets % 12.10 4.43 4.55 4.22 3.58
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 13: Siemens AG: Key Employees

Andrea Fehrmann Director Non Executive Board
Benoit Potier Director Non Executive Board
Bettina Haller Director Non Executive Board
Birgit Steinborn First Deputy Chairwoman Executive Board
Cedrik Neike Member Senior Management
Dame Nemat Talaat Shafik Director Non Executive Board
Dorothea Simon Director Non Executive Board
Grazia Vittadini Director Non Executive Board
Gunnar Zukunft Director Non Executive Board
Hagen Reimer Director Non Executive Board
Harald Kern Director Non Executive Board
Jim Hagemann Snabe Chairman Non Executive Board
Jurgen Kerner Director Non Executive Board
Kasper Rorsted Director Non Executive Board
Klaus Helmrich Member Senior Management
Lisa Davis Member Senior Management
Matthias Zachert Director Non Executive Board
Michael Diekmann Director Non Executive Board
Michael Sen Member Senior Management
Michael Sigmund Director Non Executive Board
Nathalie von Siemens Director Non Executive Board
Nicola Leibinger-Kammuller Director Non Executive Board
Norbert Reithofer Director Non Executive Board
Peter Korte Head Strategy Senior Management
Ralf P. Thomas Chief Financial Officer Senior Management
Robert Kensbock Director Non Executive Board
Roland Busch Chief Executive Officer Senior Management
Roland Busch President Senior Management
Werner Brandt Director Non Executive Board
Werner Wenning Second Deputy Chairman Executive Board

Industry Profiles
8.4. ABB, Ltd.
ABB, Ltd. (ABB or 'the company') is one of the global providers of power and automation technologies. The
company offers products, systems, solutions and services to improve productivity, increase power reliability,
and enhance energy efficiency. It serves electric, gas and water utilities, and industrial and commercial
customers. The company sells products through direct sales forces, and third-party channel partners such as
distributors, installers, wholesalers, machine builders and OEMs and system integrators. ABB provides digitally
connected and enabled industrial equipment and systems to customers in utilities, industry, transport and
infrastructure industries. The company operates in Europe, Asia, the Americas, and the Middle East and Africa.
The company is headquartered in Zurich, Switzerland.
The company reported revenues of (US Dollars) US$26,134 million for the fiscal year ended December 2020
net margin of 5.1% in FY2019. The company reported revenues of US$7,449 million for the second quarter
8.4.2. Key Facts
Table 14: ABB, Ltd.: key facts
Head office: Affolternstrasse 44 , ZUERICH, Switzerland

Fax: 41433174420
Website: global.abb
ABB, Ltd. (ABB or 'the company') is a global engineering company primarily engaged in power and automation
technologies. The company serves electric, gas, and water utilities, besides industrial and commercial customers. It
operates in approximately 100 countries across Europe, Asia, Middle East and Africa (AMEA), and the Americas.
The company classified its business into five segments: Electrification, Industrial Automation, Motion, Robotics &
Discrete Automation, and Corporate and Other.
Electrification segment offers digital and connected solutions, including electric vehicle charging infrastructure;
distribution automation products; modular substation packages, solar power solutions, switchgear, control
products, switchboard and panelboards, measuring and sensing devices, UPS solutions, wiring accessories, circuit
breakers, enclosures and cabling systems, and home and building solutions for integrating and automating lighting,
ventilation, heating, security and data communication networks. It serves buildings, wind and solar, rail,
distribution utilities, data centers, food and beverage, marine, oil and gas, and e-mobility customers. In FY2019,
the Electrification segment reported revenues of S$12,272 million, which accounted for 44.2% of the company's
total revenue.
Motion segment provides technology products, solutions and related services to industrial customers for
improving energy efficiency, safety and reliability, and maintaining precise control over processes. It serves OEMs;
process industries such as oil and gas, metals and mining, and pulp and paper; hybrid and batch manufacturers
such as food and beverage companies, utilities transportation equipment manufacturers, logistics, discrete

Industry Profiles
manufacturing companies and customers in the automotive industry. In FY2019, the Motion segment reported
revenues of US$6,021 million, which accounted for 21.7% of the company's revenue.
Robotics & Discrete Automation offers manufactures and sells robotics and machinery automation solutions,
including controllers, software, cells, function packages, robots, programmable logic controllers, industrial PCs,
engineered manufacturing solutions, servo motion, turn-key solutions and collaborative robot solutions. robotics,
and machine and factory automation solutions. It serves manufacturers, system integrators and machine builders
in automotive, metalworking, electronics, machine building, food and beverage and logistics industries. In FY2019,
the Robotics and Motion segment reported revenues of US$3,244 million, which accounted for 11.7% of the
company's revenue.
Industrial Automation segment offers process and discrete control solutions; electric ship propulsion systems;
advanced process control software and manufacturing execution systems; sensing; measurement and analytical
instrumentation and solutions; electric ship propulsion systems; and turbochargers. Develops and sells integrated
automation and electrification systems, and digital solutions for increasing production efficiency, optimizing assets
and reducing environmental impact. It serves customers in oil and gas, chemicals, pulp and paper, food and
beverage, pharmaceuticals, minerals and mining, plastics, metals, power generation and maritime industries. Its
end customers include minerals and mining, oil and gas, metals, chemicals and pharmaceuticals, power generation
pulp and paper, food and beverage and marine industries. In FY2019, the Industrial Automation segment reported
revenues of US$6,151 million, which accounted for 22.2% of the company's total revenue.
Corporate and Other segment include central research and development, headquarters, group treasury
operations, real estate activities, global business services (GBS) and other minor business activities. In FY2019, the
Corporate and Other segment reported revenues of US$77 million, which accounted for 0.2% of the company's
total revenue.
Geographically, the company classifies its operations into three regions, namely Asia, Middle East and Africa;
Europe, and The Americas. In FY2019, Europe accounted for 36% of the company's revenues, followed by the
Americas with 32.2% and Asia, Middle East and Africa region with 31.8% .

Industry Profiles
Table 15: ABB, Ltd.: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -29.74 1.07 9.79 1.14
Operating Income Growth % -36.73 15.60 -0.18 -12.94
EBITDA Growth % -33.50 9.54 2.48 -7.73
EPS Growth % -43.63 8.72 11.36 -19.50
Working Capital Growth % -14.65 -4.01 -39.68 81.16
Equity Ratios
EPS (Earnings per Share) USD 0.87 0.51 0.63 0.68 0.49
Dividend per Share USD 0.74 0.75 0.80 0.82 0.83
Book Value per Share USD 6.61 6.26 6.93 6.54 6.34
Gross Margin % 28.56 30.27 31.80 31.10 32.03
Profit Markup % 39.98 43.40 46.62 45.14 47.11
Return on Equity % 13.35 14.18 14.93 15.57 10.64
Return on Assets % 9.35 4.71 5.35 4.94 3.18
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 16: ABB, Ltd.: Key Employees

Bernhard Jucker President, Europe region Senior Management
Bjorn Rosengren Chief Executive Officer Senior Management
Managing Director Business Unit
Bruno Melles Senior Management
Transformers, Power Grids Division
Carolina Granat Chief Human Resources Officer Senior Management
Chunyuan Gu President Asia, Middle East and Africa Senior Management
Claudio Facchin President, Power Grids Division Senior Management
David Constable Director Non Executive Board
David Meline Director Non Executive Board
Diane de Saint Victor General Counsel Senior Management
Diane de Saint Victor Secretary Senior Management
Frank Duggan President Europe Senior Management
Frederico Fleury Curado Director Non Executive Board
Geraldine Matchett Director Non Executive Board
Greg Scheu Head Group Service and Business Integration Senior Management
Greg Scheu President Americas region Senior Management
Jacob Wallenberg Vice Chairman Non Executive Board
Lars Forberg Director Non Executive Board
Louis R. Hughes Director Non Executive Board
Maria Varsellona General Counsel Senior Management
Maria Varsellona Secretary Senior Management
Morten Wierod President Motion Senior Management
Mostafa AlGuezeri Managing Director-Operations Senior Management
Peter R. Voser Chairman Executive Board
Peter Terwiesch President, Industrial Automation Division Senior Management
Sami Atiya President Robotics and Discrete Automation Senior Management
Satish Pai Director Non Executive Board
Tarak Mehta President, Electrification Products Division Senior Management
Theodor Swedjemark Chief Communications Officer Senior Management
Timo Ihamuotila Chief Financial Officer Senior Management
Senior Vice President ABB Power
Tobias Hansson Senior Management
Transformers, Europe

Industry Profiles
Table 17: ABB, Ltd.: Key Employees Continued

Ying Yeh Director Non Executive Board

Industry Profiles
8.5. Robert Bosch GmbH
Robert Bosch GmbH (Bosch or 'the group') is a global supplier of automotive, consumer goods, industrial
technology, and energy and building technology products. The group’s major products include power tools,
heating systems, accessories, eBike systems, household appliances, security systems and solar inverters. It also
offers industry solutions, packaging technology and business process management solutions. The group serves
customers in various industries span across Do it Yourself market, automobile, BPO and consumer electronics.
Bosch operates through engineering locations, subsidiaries and regional companies in countries across Europe,
the Americas, Asia Pacific, the Middle East and Africa. The company is headquartered in Stuttgart, Germany.
8.5.2. Key Facts
Table 18: Robert Bosch GmbH: key facts
Head office: Postfach 30 2 20 , Stuttgart, Baden-Wurttemberg, Germany

Website: www.bosch.com
Robert Bosch GmbH (Bosch or ‘the group’) is a global supplier of technology products and services. The group
offers a range of products, including automotive components, drive and control technology, security systems, and
household appliances. About 92% of the share capital of Bosch is held by Robert Bosch Stiftung, a charitable
foundation. Bosch comprises about 460 subsidiaries and regional companies in more than 60 countries.
The group operates through five business segments: mobility solutions, industrial technology, consumer goods,
energy and building technology and others.
The mobility solutions segment offers a range of solutions, including injection technology for internal-combustion
engines; alternative powertrain concepts; networked powertrain; peripherals; systems for active and passive
driving safety; assistance and comfort functions; technology for user-friendly infotainment as well as vehicle-to-
vehicle and vehicle-to-infrastructure communication; and concepts, technology, and services for the automotive
aftermarket. The segment can be broadly categorized into gasoline systems division, diesel systems division,
chassis systems control division, electrical drives division, starter motors and generators division, car multimedia
division, automotive electronics division, automotive aftermarket division, and automotive steering systems
division. The gasoline systems division develops and produces technologies for internal-combustion engines using
gasoline, natural gas, and ethanol, as well as systems and components for hybrid and electric vehicles. The diesel
systems division offers a range of diesel injection systems for passenger cars, commercial vehicles, as well as for
other applications. The division also provides air management systems such as mass air-flow sensors, electronic
diesel control (EDC), and exhaust-gas management systems such as Denoxtronic, as well as solutions for diesel
hybrid vehicles. The chassis systems control division develops and manufactures components, features, and
systems aimed at improving driving safety and comfort, including master cylinder, hydraulic units, brake boosters,
and braking assistance systems. Electrical drives division offers a range of electromechanical components and
systems for bodywork applications, including actuators, systems and components for engine thermal
management, air-conditioning, and windshield cleaning. The starter motors and generators division develops and
manufactures starters and alternators for passenger cars and commercial vehicles. Its product offerings include
long-life starters for gasoline and diesel engines. The car multimedia division offers solutions for in-car
entertainment, navigation, telematics, and driver-assistance systems. The automotive electronics division develops

Industry Profiles
and manufactures microelectronics and provides systems integration and vehicle calibration services. The
automotive aftermarket division manages the sales and worldwide logistics of vehicle spare parts and products for
the aftermarket. It also includes in-house production and technical customer support for automotive products and
systems. The automotive steering systems division manufactures and sells steering technology for passenger cars
and commercial vehicles. In addition to complete steering systems, steering columns, and steering pumps for
vehicles ranging from small cars to commercial vehicles, the product line also covers components such as valves,
universal joints, and steering shafts. The segment also includes ETAS Group companies, which provide solutions for
embedded software systems for use in the automotive and other industries. In FY2019, the mobility solutions
segment reported revenue of EUR46,784 million, which accounted for 60.2% of the group’s revenue.
The consumer goods segment includes power tools and household appliances subdivisions. The power tools
subdivision offers a range of products such as hammer drills, impact screwdrivers and jigsaws. It also offers
gardening equipment such as lawnmowers, hedge trimmers and high-pressure cleaners. In addition, the division
offers innovative, digital laser measurement tools for both professional and DIY (do it yourself) users. The
accessories include a comprehensive range of abrasive systems, drill bits, and saw blades. It offers is tools under
the Bosch, Skil, and Dremel brands. The household appliance subdivision offers a range of products, including
washing machines, dryers, refrigerators, freezers, dishwashers, and vacuum cleaners. It also offers small
appliances such as coffee makers, irons, and hot-water appliances. The division sells its products under the Bosch
and Siemens brands, as well as under regional and specialty brands such as Gaggenau, Neff, Thermador,
Constructa, Zelmer, Balay, and Pitsos. In FY2019, the consumer goods segment reported revenue of EUR17,752
million, which accounted for 22.8% of the group’s revenue.
The industrial technology segment operates through two sub-divisions: drive and control technology, and
packaging technology. Bosch, through its drive and control technology subsidiary Bosch Rexroth, provides
customized drive, control, and actuator solutions for factory automation, plant construction and engineering,
mobile machinery, and commercial vehicles. The division operates as a systems partner, service provider and
supplier in more than 80 countries. In addition, it also offers a range of services and is involved in large-scale
international projects such as power plants and lifting systems. The Bosch packaging technology sub-division
provides process and packaging solutions for the pharmaceuticals, food, and confectionery industry, as well as
selected segments of the beverages industry. Its product catalogue includes individual modules, customer-specific
systems, and complete solutions. The division also offers comprehensive after-sales services. The division also
includes ATMO, Bosch's in house supplier of assembly systems and special-purpose machinery. ATMO develops
flexible, scalable plans for assembly systems and builds customized solutions in the field of testing and calibration
technology. Its portfolio ranges from planning to turnkey plants, including ramp-up support, and includes a range
of services. In FY2019, the industrial technology segment reported revenue of EUR7,494 million, which accounted
for 9.6% of the group’s revenue.
The energy and building technology segment covers a range of products and services in the fields of heating, air-
conditioning, and security. It operates through security systems and thermotechnology subdivisions. The security
systems subdivision provides products and services in the fields of video-surveillance, intrusion-detection, and fire-
detection systems, as well as access-control, public-address, and evacuation systems, and professional audio and
conference systems. The thermotechnology division is engaged in the manufacturing of heating products and hot-
water solutions, including floor-standing and wall-mounted heaters, industrial boilers and cogeneration plants .
The segment also includes the service-provider subsidiary, Bosch Energy and Building Solutions. In FY2019, the
energy and building technology segment reported revenue of EUR5,654 million, which accounted for 7.2% of the
group’s revenue.
The company’s all other segment includes financial and holding companies as well as other service companies. It
includes Bosch Software Innovations subsidiary, which standardized solutions, particularly in the areas of energy,
industry, and mobility. In FY2019, the all other segment reported revenue of EUR37 million, which accounted for
0.4% of the group’s revenue.
Geographically, Bosch classifies its operations into four regions: Europe, the Americas, Asia Pacific and Other
Regions. In FY2019, Europe accounted for 52.5% of the group’s revenue, followed by Asia Pacific with 27.5%, the
Americas with 18.5% and Others with 1.3%.

Industry Profiles
Table 19: Robert Bosch GmbH: Key Employees

Beatrice Weder Di Mauro Director Non Executive Board
Christian Brunkhorst Director Non Executive Board
Head Energy and Building Technology
Christian Fischer Senior Management
Business Sector (BBE)
Christian Sobottka President Automotive Steering Senior Management
Christof Bosch Director Non Executive Board
Christoph Kubel Director Industrial Relations Senior Management
Head Automotive systems integration
Dirk Hoheisel Senior Management
activities , Mobility Solutions business
Elgar Fleisch Director Non Executive Board
Franz Fehrenbach Chairman Non Executive Board
Gerhard Johannes Steiger President Chassis Systems Control Senior Management
Harald Kroeger Member Senior Management
Hartwig Geisel Deputy Chairman Non Executive Board
Henning von Boxberg President Bosch Global Service Solutions Senior Management
Jorg Hofmann Director Non Executive Board
Karin Solda Director Non Executive Board
Kerstin Mai Director Non Executive Board
Klaus Friedrich Director Non Executive Board
Manfred Baden President Automotive Aftermarket Senior Management
Mario Gutmann Director Non Executive Board
Markus Heyn Member Senior Management
Martina Koederitz Director Non Executive Board
Matthias Georg Madelung Director Non Executive Board
Michael Kaschke Director Non Executive Board
Nadine Boguslawski Director Non Executive Board
Oliver Simon Director Non Executive Board
Per Johansson General Manager Robert Bosch Middle East Senior Management
Peter Spuhler Director Non Executive Board
Peter Tyroller Head Asia Pacific Senior Management
Rainer Kallenbach President Connected Mobility Solutions Senior Management
Reinhard Neul Project Manager - High Performance Sensors Operational Management

Industry Profiles
Table 20: Robert Bosch GmbH: Key Employees Continued

Renate Kocher Director Non Executive Board
Richard Walker Director Non Executive Board
Rolf Bulander Head Mobility Solutions Business Sector Senior Management
Rolf Najor President Drive and Control Technology Senior Management
Rolf Najork Head Industrial Technology Business Senior Management
Stefan Asenkerschbaumer Chief Executive Officer Deputy Senior Management
Stefan Konig President Packaging Technology Senior Management
Steffen Berns President Car Multimedia Senior Management
Tanja Ruckert President Building Technologies Senior Management
Uwe Gackstatte President Powertrain Systems Senior Management
Uwe Gackstatter President Powertrain Solutions Senior Management
Uwe Glock President Thermotechnology Senior Management
Volkmar Denner Chairman Executive Board
Wolfgang Malchow Director Non Executive Board

Industry Profiles
8.6. Schneider Electric SE
Schneider Electric SE (Schneider or 'the company') is a provider of energy and automation digital solutions. The
company is involved in electrical equipment manufacturing, electrical distribution, secured power supply,
building control, automation and safety, and managing all types of data centers, networks, equipment and
other infrastructure. It offers IoT enabled, plug and play, interoperable architecture and platform, in homes,
buildings, data centres, infrastructure and industries. The company offers automation and control products, low
voltage products and systems, solar and energy storage, critical power, cooling and racks, and medium voltage
distribution and grid automation. Schneider has operations across Europe, North America, and Asia Pacific. The
company is headquartered in Rueil-Malmaison, Ile-de-France, France.
The company reported revenues of (Euro) EUR25,159 million for the fiscal year ended December 2020
net margin of 8.9% in FY2019.
8.6.2. Key Facts
Table 21: Schneider Electric SE: key facts
Head office: 35 Rue Joseph Monier, , Rueil-Malmaison, France

Fax: 33141297100
Website: www.schneider-electric.com/fr/fr
Ticker: SU
Stock exchange: Euronext Paris
Schneider Electric SE (Schneider or 'the company') is engaged in the design, manufacture and sale of integrated
products, systems, services, software and solutions for electric distribution, and automation and control. The
company has operations in more than 100 countries across Europe, North America, and Asia Pacific.
Schneider offers products for various categories including residential and small business, building automation and
control, low voltage products and systems, solar and energy storage, access to energy, medium voltage
distribution and grid automation, critical power, cooling and racks, and industrial automation and control. It helps
increase asset reliability, improve total cost of ownership, and drive enterprise’s digital transformation towards
sustainability, efficiency and safety. Its services include field service, digital service, consulting service and Training.
The company operates through two business segments: Energy Management and Industrial Automation.
The Energy Management segment offers technological services through EcoStruxure. The company serves four
markets: Buildings, Data Centers, Industry and Infrastructure, supported by a worldwide partner network. As of
December 31, 2019, the energy management segment had a backlog of EUR6,399 million. In FY2019, the segment
reported revenues of EUR20,847 million, which accounted for 76.8% of the company's total revenue.
The Industrial Automation segment includes industrial automation and industrial control activities, across discrete,
process and hybrid industries. As of December 31, 2019, the energy management segment had a backlog of

Industry Profiles
EUR1,705 million. In FY2019, the Industrial Automation segment reported revenues of EUR6,311 million, which
accounted for 23.2% of the company's total revenue.
Geographically, the company classifies its operations into four segments, namely Asia Pacific, North America,
Western Europe, and Rest of the World. In FY2019, the North America accounted for 29% of the company’s total
revenue, followed by Asia Pacific 29%, Western Europe 26%, and Rest of the World with 16%.

Industry Profiles
Table 22: Schneider Electric SE: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -8.19 1.16 3.95 5.59
Operating Income Growth % 33.47 7.90 5.79 0.09
EBITDA Growth % 18.78 4.94 6.51 7.47
Net Income Growth % 24.38 22.86 8.56 3.38
EPS Growth % -8.64 18.92 6.78 14.66
Working Capital Growth % -15.26 10.83 -7.35 23.71
Equity Ratios
Gross Margin % 36.96 38.26 38.39 39.05 39.53
Profit Markup % 58.62 61.97 62.30 64.06 65.37
Return on Equity % 6.75 8.54 10.86 11.23 11.19
Return on Assets % 6.61 4.15 5.26 5.69 5.53
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 23: Schneider Electric SE: Key Employees

Adrian Thomas President Canada Senior Management
Anders Runevad Director Non Executive Board
Executive Vice President North America
Annette Clayton Senior Management
Operations
Executive Vice President Industrial
Barbara Frei Senior Management
Automation
Cecile Cabanis Director Non Executive Board
Charise Le Chief Human Resources Officer Senior Management
Chris Leong Executive Vice President Global Marketing Senior Management
Christel Heydemann Executive Vice President France Operations Senior Management
Deputy Chief Executive Office - Finance and
Emmanuel Babeau Senior Management
Legal Affairs
Emmanuel Lagarrigue Executive Vice President Innovation Senior Management
Fleur Pellerin Director Non Executive Board
Fred Kindle Director Non Executive Board
Frederic Abbal Executive Vice President Services Senior Management
Gregory Spierkel Director Non Executive Board
Hilary Maxson Chief Financial Officer Senior Management
Jean Pascal Tricoire Director Non Executive Board
Jean-Pascal Tricoire Chairman Executive Board
Jean-Pascal Tricoire Chief Executive Officer Executive Board
Jill Lee Director Non Executive Board
Vice President Secure Power Division, Saudi
Khader Faraj Senior Management
Arabia
Leo Apotheker Vice Chairman Executive Board
Leonid Mukhamedov Executive Vice President Strategy Senior Management
Linda Knoll Director Non Executive Board
Lip-Bu Tan Director Non Executive Board
Executive Vice President International
Luc Remont Senior Management
Operations
Executive Vice President Digital Energy
Luis D’Acosta Senior Management
Division
Mourad Tamoud Executive Vice President Global Supply Chain Senior Management
Executive Vice President Global Human
Olivier Blum Senior Management
Resources
Patrick Montier Director Non Executive Board
Peter Weckesser Chief Digital Officer Senior Management

Industry Profiles
Table 24: Schneider Electric SE: Key Employees Continued

Philippe Delorme Executive Vice President Energy Management Senior Management
Rita Felix Director Non Executive Board
Willy Kissling Director Non Executive Board
Xiaoyun Ma Director Non Executive Board
Zheng Yin Executive Vice President China Operations Senior Management

Industry Profiles
8.7. ABB, Ltd.
ABB, Ltd. (ABB or 'the company') is one of the global providers of power and automation technologies. The
company offers products, systems, solutions and services to improve productivity, increase power reliability,
and enhance energy efficiency. It serves electric, gas and water utilities, and industrial and commercial
customers. The company sells products through direct sales forces, and third-party channel partners such as
distributors, installers, wholesalers, machine builders and OEMs and system integrators. ABB provides digitally
connected and enabled industrial equipment and systems to customers in utilities, industry, transport and
infrastructure industries. The company operates in Europe, Asia, the Americas, and the Middle East and Africa.
The company is headquartered in Zurich, Switzerland.
The company reported revenues of (US Dollars) US$26,134 million for the fiscal year ended December 2020
net margin of 5.1% in FY2019. The company reported revenues of US$7,449 million for the second quarter
8.7.2. Key Facts
Table 25: ABB, Ltd.: key facts
Head office: Affolternstrasse 44 , ZUERICH, Switzerland

Fax: 41433174420
Website: global.abb
ABB, Ltd. (ABB or 'the company') is a global engineering company primarily engaged in power and automation
technologies. The company serves electric, gas, and water utilities, besides industrial and commercial customers. It
operates in approximately 100 countries across Europe, Asia, Middle East and Africa (AMEA), and the Americas.
The company classified its business into five segments: Electrification, Industrial Automation, Motion, Robotics &
Discrete Automation, and Corporate and Other.
Electrification segment offers digital and connected solutions, including electric vehicle charging infrastructure;
distribution automation products; modular substation packages, solar power solutions, switchgear, control
products, switchboard and panelboards, measuring and sensing devices, UPS solutions, wiring accessories, circuit
breakers, enclosures and cabling systems, and home and building solutions for integrating and automating lighting,
ventilation, heating, security and data communication networks. It serves buildings, wind and solar, rail,
distribution utilities, data centers, food and beverage, marine, oil and gas, and e-mobility customers. In FY2019,
the Electrification segment reported revenues of S$12,272 million, which accounted for 44.2% of the company's
total revenue.
Motion segment provides technology products, solutions and related services to industrial customers for
improving energy efficiency, safety and reliability, and maintaining precise control over processes. It serves OEMs;
process industries such as oil and gas, metals and mining, and pulp and paper; hybrid and batch manufacturers
such as food and beverage companies, utilities transportation equipment manufacturers, logistics, discrete

Industry Profiles
manufacturing companies and customers in the automotive industry. In FY2019, the Motion segment reported
revenues of US$6,021 million, which accounted for 21.7% of the company's revenue.
Robotics & Discrete Automation offers manufactures and sells robotics and machinery automation solutions,
including controllers, software, cells, function packages, robots, programmable logic controllers, industrial PCs,
engineered manufacturing solutions, servo motion, turn-key solutions and collaborative robot solutions. robotics,
and machine and factory automation solutions. It serves manufacturers, system integrators and machine builders
in automotive, metalworking, electronics, machine building, food and beverage and logistics industries. In FY2019,
the Robotics and Motion segment reported revenues of US$3,244 million, which accounted for 11.7% of the
company's revenue.
Industrial Automation segment offers process and discrete control solutions; electric ship propulsion systems;
advanced process control software and manufacturing execution systems; sensing; measurement and analytical
instrumentation and solutions; electric ship propulsion systems; and turbochargers. Develops and sells integrated
automation and electrification systems, and digital solutions for increasing production efficiency, optimizing assets
and reducing environmental impact. It serves customers in oil and gas, chemicals, pulp and paper, food and
beverage, pharmaceuticals, minerals and mining, plastics, metals, power generation and maritime industries. Its
end customers include minerals and mining, oil and gas, metals, chemicals and pharmaceuticals, power generation
pulp and paper, food and beverage and marine industries. In FY2019, the Industrial Automation segment reported
revenues of US$6,151 million, which accounted for 22.2% of the company's total revenue.
Corporate and Other segment include central research and development, headquarters, group treasury
operations, real estate activities, global business services (GBS) and other minor business activities. In FY2019, the
Corporate and Other segment reported revenues of US$77 million, which accounted for 0.2% of the company's
total revenue.
Geographically, the company classifies its operations into three regions, namely Asia, Middle East and Africa;
Europe, and The Americas. In FY2019, Europe accounted for 36% of the company's revenues, followed by the
Americas with 32.2% and Asia, Middle East and Africa region with 31.8% .

Industry Profiles
Table 26: ABB, Ltd.: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -29.74 1.07 9.79 1.14
Operating Income Growth % -36.73 15.60 -0.18 -12.94
EBITDA Growth % -33.50 9.54 2.48 -7.73
EPS Growth % -43.63 8.72 11.36 -19.50
Working Capital Growth % -14.65 -4.01 -39.68 81.16
Equity Ratios
EPS (Earnings per Share) USD 0.87 0.51 0.63 0.68 0.49
Dividend per Share USD 0.74 0.75 0.80 0.82 0.83
Book Value per Share USD 6.61 6.26 6.93 6.54 6.34
Gross Margin % 28.56 30.27 31.80 31.10 32.03
Profit Markup % 39.98 43.40 46.62 45.14 47.11
Return on Equity % 13.35 14.18 14.93 15.57 10.64
Return on Assets % 9.35 4.71 5.35 4.94 3.18
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 27: ABB, Ltd.: Key Employees

Bernhard Jucker President, Europe region Senior Management
Bjorn Rosengren Chief Executive Officer Senior Management
Managing Director Business Unit
Bruno Melles Senior Management
Transformers, Power Grids Division
Carolina Granat Chief Human Resources Officer Senior Management
Chunyuan Gu President Asia, Middle East and Africa Senior Management
Claudio Facchin President, Power Grids Division Senior Management
David Constable Director Non Executive Board
David Meline Director Non Executive Board
Diane de Saint Victor General Counsel Senior Management
Diane de Saint Victor Secretary Senior Management
Frank Duggan President Europe Senior Management
Frederico Fleury Curado Director Non Executive Board
Geraldine Matchett Director Non Executive Board
Greg Scheu Head Group Service and Business Integration Senior Management
Greg Scheu President Americas region Senior Management
Jacob Wallenberg Vice Chairman Non Executive Board
Lars Forberg Director Non Executive Board
Louis R. Hughes Director Non Executive Board
Maria Varsellona General Counsel Senior Management
Maria Varsellona Secretary Senior Management
Morten Wierod President Motion Senior Management
Mostafa AlGuezeri Managing Director-Operations Senior Management
Peter R. Voser Chairman Executive Board
Peter Terwiesch President, Industrial Automation Division Senior Management
Sami Atiya President Robotics and Discrete Automation Senior Management
Satish Pai Director Non Executive Board
Tarak Mehta President, Electrification Products Division Senior Management
Theodor Swedjemark Chief Communications Officer Senior Management
Timo Ihamuotila Chief Financial Officer Senior Management
Senior Vice President ABB Power
Tobias Hansson Senior Management
Transformers, Europe

Industry Profiles
Table 28: ABB, Ltd.: Key Employees Continued

Ying Yeh Director Non Executive Board

Industry Profiles
8.8. Schneider Electric SE
Schneider Electric SE (Schneider or 'the company') is a provider of energy and automation digital solutions. The
company is involved in electrical equipment manufacturing, electrical distribution, secured power supply,
building control, automation and safety, and managing all types of data centers, networks, equipment and
other infrastructure. It offers IoT enabled, plug and play, interoperable architecture and platform, in homes,
buildings, data centres, infrastructure and industries. The company offers automation and control products, low
voltage products and systems, solar and energy storage, critical power, cooling and racks, and medium voltage
distribution and grid automation. Schneider has operations across Europe, North America, and Asia Pacific. The
company is headquartered in Rueil-Malmaison, Ile-de-France, France.
The company reported revenues of (Euro) EUR25,159 million for the fiscal year ended December 2020
net margin of 8.9% in FY2019.
8.8.2. Key Facts
Table 29: Schneider Electric SE: key facts
Head office: 35 Rue Joseph Monier, , Rueil-Malmaison, France

Fax: 33141297100
Website: www.schneider-electric.com/fr/fr
Ticker: SU
Stock exchange: Euronext Paris
Schneider Electric SE (Schneider or 'the company') is engaged in the design, manufacture and sale of integrated
products, systems, services, software and solutions for electric distribution, and automation and control. The
company has operations in more than 100 countries across Europe, North America, and Asia Pacific.
Schneider offers products for various categories including residential and small business, building automation and
control, low voltage products and systems, solar and energy storage, access to energy, medium voltage
distribution and grid automation, critical power, cooling and racks, and industrial automation and control. It helps
increase asset reliability, improve total cost of ownership, and drive enterprise’s digital transformation towards
sustainability, efficiency and safety. Its services include field service, digital service, consulting service and Training.
The company operates through two business segments: Energy Management and Industrial Automation.
The Energy Management segment offers technological services through EcoStruxure. The company serves four
markets: Buildings, Data Centers, Industry and Infrastructure, supported by a worldwide partner network. As of
December 31, 2019, the energy management segment had a backlog of EUR6,399 million. In FY2019, the segment
reported revenues of EUR20,847 million, which accounted for 76.8% of the company's total revenue.
The Industrial Automation segment includes industrial automation and industrial control activities, across discrete,
process and hybrid industries. As of December 31, 2019, the energy management segment had a backlog of

Industry Profiles
EUR1,705 million. In FY2019, the Industrial Automation segment reported revenues of EUR6,311 million, which
accounted for 23.2% of the company's total revenue.
Geographically, the company classifies its operations into four segments, namely Asia Pacific, North America,
Western Europe, and Rest of the World. In FY2019, the North America accounted for 29% of the company’s total
revenue, followed by Asia Pacific 29%, Western Europe 26%, and Rest of the World with 16%.

Industry Profiles
Table 30: Schneider Electric SE: Annual Financial Ratios

Key Ratios 2015 2016 2017 2018 2019
Growth Ratios
Sales Growth % -8.19 1.16 3.95 5.59
Operating Income Growth % 33.47 7.90 5.79 0.09
EBITDA Growth % 18.78 4.94 6.51 7.47
Net Income Growth % 24.38 22.86 8.56 3.38
EPS Growth % -8.64 18.92 6.78 14.66
Working Capital Growth % -15.26 10.83 -7.35 23.71
Equity Ratios
Gross Margin % 36.96 38.26 38.39 39.05 39.53
Profit Markup % 58.62 61.97 62.30 64.06 65.37
Return on Equity % 6.75 8.54 10.86 11.23 11.19
Return on Assets % 6.61 4.15 5.26 5.69 5.53
Liquidity Ratios
Leverage Ratios
Efficiency Ratios

Industry Profiles
Table 31: Schneider Electric SE: Key Employees

Adrian Thomas President Canada Senior Management
Anders Runevad Director Non Executive Board
Executive Vice President North America
Annette Clayton Senior Management
Operations
Executive Vice President Industrial
Barbara Frei Senior Management
Automation
Cecile Cabanis Director Non Executive Board
Charise Le Chief Human Resources Officer Senior Management
Chris Leong Executive Vice President Global Marketing Senior Management
Christel Heydemann Executive Vice President France Operations Senior Management
Deputy Chief Executive Office - Finance and
Emmanuel Babeau Senior Management
Legal Affairs
Emmanuel Lagarrigue Executive Vice President Innovation Senior Management
Fleur Pellerin Director Non Executive Board
Fred Kindle Director Non Executive Board
Frederic Abbal Executive Vice President Services Senior Management
Gregory Spierkel Director Non Executive Board
Hilary Maxson Chief Financial Officer Senior Management
Jean Pascal Tricoire Director Non Executive Board
Jean-Pascal Tricoire Chairman Executive Board
Jean-Pascal Tricoire Chief Executive Officer Executive Board
Jill Lee Director Non Executive Board
Vice President Secure Power Division, Saudi
Khader Faraj Senior Management
Arabia
Leo Apotheker Vice Chairman Executive Board
Leonid Mukhamedov Executive Vice President Strategy Senior Management
Linda Knoll Director Non Executive Board
Lip-Bu Tan Director Non Executive Board
Executive Vice President International
Luc Remont Senior Management
Operations
Executive Vice President Digital Energy
Luis D’Acosta Senior Management
Division
Mourad Tamoud Executive Vice President Global Supply Chain Senior Management
Executive Vice President Global Human
Olivier Blum Senior Management
Resources
Patrick Montier Director Non Executive Board
Peter Weckesser Chief Digital Officer Senior Management

Industry Profiles
Table 32: Schneider Electric SE: Key Employees Continued

Philippe Delorme Executive Vice President Energy Management Senior Management
Rita Felix Director Non Executive Board
Willy Kissling Director Non Executive Board
Xiaoyun Ma Director Non Executive Board
Zheng Yin Executive Vice President China Operations Senior Management

Industry Profiles
9. Macroeconomic Indicators
9.1. Country data
Table 33: Europe size of population (million), 2016–20
Year Population (million) % Growth

2016 323.8 0.8%
2017 326.3 0.8%
2018 328.9 0.8%
2019 331.4 0.8%
2020 333.9 0.8%
Table 34: Europe gdp (constant 2005 prices, $ billion), 2016–20
Year Constant 2005 Prices, $ billion % Growth

2016 15,739.0 3.0%
2017 16,161.3 2.7%
2018 16,559.0 2.5%
2019 16,929.6 2.2%
2020 17,270.7 2.0%
Table 35: Europe gdp (current prices, $ billion), 2016–20
Year Current Prices, $ billion % Growth

2016 19,223.8 5.0%
2017 20,145.1 4.8%
2018 21,077.3 4.6%
2019 21,993.9 4.3%
2020 22,953.1 4.4%
Table 36: Europe inflation, 2016–20

Industry Profiles
Year Inflation Rate (%)

2016 2.1%
2017 2.3%
2018 2.3%
2019 2.2%
2020 2.4%
Table 37: Europe consumer price index (absolute), 2016–20
Year Consumer Price Index (2005 = 100)

2016 126.4
2017 129.3
2018 132.2
2019 135.1
2020 138.3
Table 38: Europe exchange rate, 2016–20
Year Exchange rate ($/€)

2016 0.9040
2017 0.8855
2018 0.8475
2019 0.8929
2020 0.8768

Industry Profiles
Appendix
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross-
checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in-house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company profiles
and macroeconomic & demographic information, which enable our researchers to build an accurate market overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
- National/Governmental statistics
- International data (official international sources)
- National and International trade associations
- Broker and analyst reports
- Company Annual Reports
- Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date

Industry Profiles
9.2. Industry associations
9.2.1. World Information Technology and Services Alliance (WITSA)
8300 Boone Boulevard, Suite 450, Vienna, VA, 22182, USA

Tel.: 1 571 265 5964
Fax: 1 703 893 1269
www.witsa.org
9.2.2. European Information Technology Observatory (EITO)
Hahnstraße 70, 60528 Frankfurt, Germany

Tel.: 49 69 242416 0
Fax: 49 69 242416 16
www.eito.com
9.2.3. BITKOM
Albrechtstraße 10, D-10117 Berlin, Germany

Tel.: 49 30 2757 6101
Fax: 49 30 2757 6400
www.bitkom.org
9.2.4. TechUK
10 St Bride Street, London, EC4A 4AD, UK

Tel.: 44 20 7331 2000
Fax: 44 20 7331 2040
www.techuk.org
9.3. Related MarketLine research
9.3.1. Industry Profile
Global Cloud Computing

Cloud Computing in the United States
Cloud Computing in Germany

Industry Profiles
Cloud Computing in the United Kingdom

Cloud Computing in Japan

Industry Profiles
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Control Systems in Europe

Reference Code: 0201-0670

Publication Date: September 2021

Primary NAICS: 334513

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

1.1. Market value

1.2. Market value forecast

1.3. Category segmentation

1.4. Geography segmentation

1.5. Market rivalry

1.6. Competitive Landscape

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3

1.1. Market value ................................................................................................................................................2

1.2. Market value forecast ..................................................................................................................................2

1.3. Category segmentation................................................................................................................................2

1.4. Geography segmentation.............................................................................................................................2

1.5. Market rivalry...............................................................................................................................................2

1.6. Competitive Landscape ................................................................................................................................2

2.1. Market definition .........................................................................................................................................9

2.2. Market analysis ............................................................................................................................................9

3.1. Market value ..............................................................................................................................................12

4.1. Category segmentation..............................................................................................................................13

4.2. Geography segmentation...........................................................................................................................14

5.1. Market value forecast ................................................................................................................................15

6. Five Forces Analysis 16

6.1. Summary ....................................................................................................................................................16

6.2. Buyer power...............................................................................................................................................17

6.3. Supplier power ...........................................................................................................................................19

6.4. New entrants .............................................................................................................................................21

6.5. Threat of substitutes ..................................................................................................................................23

6.6. Degree of rivalry.........................................................................................................................................24

7.1. Who are the leading players? ....................................................................................................................25

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4

7.2. What strategies do leading players follow? ...............................................................................................26

7.4. How is the COVID-19 pandemic affecting the market? .............................................................................27

8.1. Robert Bosch GmbH...................................................................................................................................28

8.2. Siemens AG ................................................................................................................................................33

8.3. Siemens AG ................................................................................................................................................37

8.4. ABB, Ltd......................................................................................................................................................41

8.5. Robert Bosch GmbH...................................................................................................................................46

8.6. Schneider Electric SE ..................................................................................................................................50

8.7. ABB, Ltd......................................................................................................................................................55

8.8. Schneider Electric SE ..................................................................................................................................60

9.1. Country data ..............................................................................................................................................65

9.2. Industry associations..................................................................................................................................68

9.3. Related MarketLine research .....................................................................................................................68

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5

Table 2: Europe control systems market category segmentation: $ million, 2020 13

Table 3: Europe control systems market geography segmentation: $ million, 2020 14

Table 4: Europe control systems market value forecast: $ million, 2020–25 15

Table 5: Robert Bosch GmbH: key facts 28

Table 6: Robert Bosch GmbH: Key Employees 31

Table 7: Robert Bosch GmbH: Key Employees Continued 32

Table 8: Siemens AG: key facts 33

Table 9: Siemens AG: Annual Financial Ratios 35

Table 10: Siemens AG: Key Employees 36

Table 11: Siemens AG: key facts 37

Table 12: Siemens AG: Annual Financial Ratios 39

Table 13: Siemens AG: Key Employees 40

Table 14: ABB, Ltd.: key facts 41

Table 15: ABB, Ltd.: Annual Financial Ratios 43