Vision and strategy
The vision is to be First in Mind—First in Choice as a supplier of industrial power tools, joining and dispensing solutions, machine vision, and related services. The strategy is to continue to grow the business profitably by building on technological leadership and continuously offering products and services that improve customers’ productivity, flexibility, quality, energy efficiency, safety, and ergonomics. Key strategic initiatives include adjusting the product offer to meet increased automation in customers’ production processes, and providing additional service, know-how and training. The business area is also increasing its presence in targeted geographical markets. The presence is enhanced by a brand portfolio strategy. The business area is actively looking at acquiring complementary businesses. Growth should be achieved in a way that is economically, environmentally and socially responsible.
The Market
The global market for industrial power tools and assembly systems with related services has a large number of participants with a wide range of products in different applications such as assembly of parts, drilling and material removal.
Customers are found in industries such as the automotive industry, off-highway vehicles, the electronics industry, aerospace, appliances, the energy sector, and general industrial manufacturing. In particular, the business area has been successful in developing advanced electric industrial tools and systems that assist customers in achieving fastening according to their specifications, enable automation and minimizing errors and interruptions in production.
With an increasing demand for electric vehicles, battery production, and a growing use of lighter materials, the automotive industry looks to innovative assembly solutions. The market demands new assembly technologies such as dispensing of adhesives and sealants, self-pierce riveting, and flow drill fastening.
The market for machine vision becomes increasingly important, driven by a growing demand for automation, quality control and productivity in industrial production. Machine vision solutions are used in discrete production, such as the automotive and electronics industry, and in continuous production processes, such as metal and paper production, advanced material manufacturing, and solar panels.
Market trends
- Automation in customers’ production
- Digitalization and demand for connectivity in production
- Increased customer focus on reducing CO2 emissions
- Customers’ development of electric vehicles
- Higher requirements for productivity, flexibility and ergonomics, and increased demand for in-line quality control
- Increased focus on renewable energy and storage
- Use of light-weight material in transportation-related industries
Demand drivers
- Capital expenditure for automotive and general industrial production
- Customer investments in new production lines for new products
- Customer investments in more efficient production, e.g. quality assurance and flexible automation
- Increased production volumes at customers drive the need for service
- Investments in customer segments’ contribution to transformation to a low-carbon society
Market position
A leading market position globally in most of its operations.
