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The future is electric

Electrification – the widespread transition to electricity as a primary source of energy – is rapidly spreading and transforming industries worldwide. In 2022, the global electrification rate was around 20%, with countries like Norway and Sweden and regions like Asia-Pacific accounting for the largest shares.

From transportation to manufacturing, this shift promises to bring huge efficiency, monetary, and environmental benefits.

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HBK is on your side, so you can have full confidence in its advanced technology and superior technical support.

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From helping in the design process to getting your products to market, HBK provides solutions to suit all your electrification needs.

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With decades of expertise within HBK’s technical team, we can provide helpful advice and support throughout the process.

Male and business people commuting through cycles and electric push scooter on promenade

Benefits of electrification: environment and economy

With environmental concerns, dwindling fossil fuel reserves, and the need to combat climate change, electrification is now being adopted more than ever before, as governments, businesses, and consumers alike recognise the need to embrace cleaner, more sustainable energy solutions.

As well as the environmental benefits of electrification, this transition presents a plethora of lucrative market opportunities, attracting entrepreneurs, established firms, and even financial institutions.

For example, research from Morgan Stanley estimates that the electrical market will experience a 6% compound annual growth over the next two decades – almost double historical industry rates.

By reducing reliance on fossil fuels, electrification offers not only financial gains but also crucial environmental advantages, from cleaner air to lower greenhouse gas emissions.

Why is electrification so important?

From supply chain to logistics, businesses are already adapting their operations to leverage the benefits of electrification, driving efficiency and innovation in the process.

And as renewable energy becomes the fastest-growing energy source, there’s increasing interest in replacing fossil fuel-based heating systems with electric alternatives.

Ultimately, electrification isn’t just important – it’s essential. It represents our best chance of decarbonising our economies, mitigating the worst impacts of climate change, and securing a sustainable future for all. This shift offers a pathway to a greener, more sustainable future, addressing concerns about health, air quality, and climate change while also offering financial savings.

Thanks to advancements in technology, electric appliances have become more efficient, affordable, and appealing to consumers, further driving the shift towards electrification.

Women and teenage girl laughing merrily chatting while their electric car is charging
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According to the Net Zero Emissions (NZE) scenario, over half of the final energy consumption in the global transportation sector should be electricity by 2050.

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More than a third of the energy used by buildings and households came from electricity in 2022, and it is forecast that this will increase to 70% by 2050.

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In industrial activities, electricity accounted for 23% of total final energy consumption in 2022, and this is expected to more than double to nearly 50% by 2050 under the NZE scenario.

A man looking out the window while on a journey with an unmanned public transportation bus.

Electrification of transportation: railway, automotive, and aircraft

Electrification is one of the biggest megatrends in our modern world – especially within the transportation sector.

From hybrid and fully electric cars to electric aircraft, electrification is revolutionising travel – both in our daily lives and in the exploration of our planet and beyond.

HBK is helping OEMs embrace electrification to achieve energy efficiency, reduce greenhouse gas emissions, and promote sustainability. Our advanced technology and focus on clean energy is already helping countless companies and a vast range of industries achieve greener results around the world.

One of the ways HBK is aiding the electrification revolution is by providing advanced sensor technology that reliably and accurately tests torque, structural stability, vibration, noise, and durability in different vehicles – whether rail, road, or air.

By offering sensors with high levels of precision and efficiency, HBK solves complex challenges across the automotive, rail, and aerospace industries – from extending the range of electric vehicles to ensuring the airworthiness of NASA’s first all-electric X-plane.

Joshua Pokrzywinski | Equity Analyst, Morgan Stanley Research

HBK sustainability and net zero targets

As part of the Spectris Group, HBK is proud of its net-zero commitments. HBK is making headway with various sustainability initiatives, including the recent installation of solar panels at its Royston, UK site, which now fulfil up to 60% of the site’s electricity requirements. The Royston site joins the Virum site in Denmark as the second of HBK’s locations using locally generated solar power, with others being added through 2024 and beyond.

Over a third of HBK’s supply chain spend is with companies that are externally rated using the EcoVadis platform, which helps companies keep track of their sustainability performance, manage ESG risk and compliance, and meet corporate sustainability goals.

HBK has also achieved an 8% year-on-year reduction in energy consumption, working in collaboration with local energy management teams and creating a network of net-zero focal points across its facilities.

In addition, HBK’s commitment to sustainability encompasses continuous improvement and adaptation to emerging trends and challenges, including a 54% year-on-year reduction in scope 1 and 2 emissions between 2022 and 2023 – contributing to a reduction of over two-thirds since 2020, our baseline year.

Two businessmen wearing hardhats having a meeting on the roof of a company building with solar panels
portrait rounded image of Ben Bryson, Chief Executive Officer (CEO) of HBK
Ben Bryson | President, HBK

Spark the electrification revolution for greener industries