The top Siemens competitors are General Electric, Alstom, 3M, Schneider Electric, Hitachi, Philips B2B, ABB Ltd and others. Siemens is a German-based multinational company that specializes in electronics, engineering and electrical devices for medicinal purposes. It was established in 1847 with the original intention to produce electrical telegraphs but later transformed and started producing telegraph lines and also constructed the first streetcar line in the world.
Siemens revenue for the quarter ending March 31, 2023 was $20.841B. Siemens net income for the quarter ending March 31, 2023 was $3.732B. Siemens operating income for the quarter ending March 31, 2023 was $2.385B. Siemens gross profit for the quarter ending March 31, 2023 was $7.727B. Siemens total assets for the quarter ending March 31, 2023 were $153.493B. Siemens market cap as of September 15, 2023 is $117.54B. Siemens total number of employees in 2022 was 311,000.
Siemens has been in quite some acquisitions throughout its existence as a bid to increase its potency in the industry. It has several outlets in various towns around the world and according to a 2023 ranking by CEOWORLD magazine, Siemens is the second most valuable company in Germany by market capitalization, with a valuation of $118 billion.
It also ranked as the leading automation vendor globally. However, it also faces stiff competition from a couple of household brands. The top Siemens competitors include the following;
Table of Contents
1) General Electric
- Product Type: Aerospace, energy, healthcare, and infrastructure.
- Industry: Conglomerate.
- Founded: 1892
- Headquarters: Boston, Massachusetts, United States.
- Area Served: Worldwide.
- Current CEO: H. Lawrence Culp Jr
- Revenue: $16.699B (June 30, 2023)
- Market cap: $125.7B (September 15, 2023)
- Number of employees: 172,000(2022)
General Electric is a US-based technology company that specializes in offering some machinery including consumer and industrial appliances, aircraft engines, wind turbines, weapons and electric motors among others. It is headquartered in Boston although it was incorporated in New York.
General Electric net income for the quarter ending June 30, 2023 was $-0.023B. General Electric gross profit for the quarter ending June 30, 2023 was $4.337B. General Electric operating income for the quarter ending June 30, 2023 was $1.524B. General Electric total assets for the quarter ending June 30, 2023 were $163.006B.
US offers the biggest market for most of the GE’s products then followed by European countries. Its industrial finance’s share capital revenue is 11%. GE currently employs close to 172,000 employees worldwide making it one of the fiercest competitors in this industry. Due to its unique business model, GE is considered amongst the top Siemens competitors.
2) Alstom
- Product Type: Rolling stock, signaling, and power systems.
- Industry: Transportation.
- Founded: 1928
- Headquarters: Saint-Ouen-sur-Seine, France.
- Area Served: Worldwide.
- Current CEO: Henri Poupart-Lafarge
- Revenue: $17.19B (2023)
- Market cap: $9.61B (September 15, 2023)
- Number of employees: 74,513(2023)
Alstom is a French-based multinational company that deals with a variety of rail transport products. It was founded in 1928, and most of its products and services revolve around railway vehicles and signalling.
Alstom ADR annual net income for 2023 was $-0.137B. Alstom ADR annual gross profit for 2023 was $2.047B. Alstom ADR annual operating income for 2023 was $-0.082B.
Alstom recently merged with Siemens in a bid to solidify its operations across Europe. Until then, it has more than 20,700 employees in the European region. The value of its total assets is estimated to be more than $38 billion. It continues to provide products and services aligned to railways transportation industry in many parts of the world making it a worthy competitor that Siemens ideally need to look out for.
3) 3M
- Product Type: Abrasives, adhesives, chemicals, coatings, electronic materials
- Industry: Science and technology conglomerate.
- Founded: 1902
- Headquarters: Saint Paul, Minnesota, United States.
- Area Served: Worldwide.
- Current CEO: Mike Roman
- Revenue: $8.325B (June 30, 2023)
- Market cap: $55.78B(September 15, 2023)
- Number of employees: 92,000 (2023)
3M is an American based multinational company that specializes in the manufacturing of industrial, consumer and safety goods. It was founded in 1902 and was initially referred to as Minnesota Mining and Manufacturing industry before rebranding. Although it keeps cycling between number 2 and number 3, it is considered as one of the evergreen Siemens Competitors. 3M has since expanded and diversified, producing over 60,000 products and acquiring approximately 3,000 new patents annually.
3M net income for the quarter ending June 30, 2023 was $-6.841B. 3M gross profit for the quarter ending June 30, 2023 was $3.719B. 3M operating income for the quarter ending June 30, 2023 was $-8.958B.
It is also presently ranked as the leading company that produces sealants and adhesives in the world. It is also the leading vendor of household tape in the United States.
4) Schneider Electric
- Product Type: Digital transformation, energy management, and automation.
- Industry: Electrical engineering.
- Founded: 1836 by Eugène Schneider.
- Headquarters: Rueil-Malmaison, France.
- Area Served: Worldwide.
- Current CEO: Peter Herweck
- Revenue: $36.008B(2022)
- Market cap: $95.95B (September 15, 2023)
- Number of employees: 162,339(2022)
Schneider Electric is also a French-based multinational company that deals with automation solutions, energy management, software and spanning service among others. It has established its offices in various parts of the world as a way of enhancing its service delivery to the customers in the respective areas.
Schneider Electric annual gross profit for 2022 was $14.62B. Schneider Electric annual net income for 2022 was $3.663B. Schneider Electric annual operating income for 2022 was $5.197B.
Schneider has grown to become one of the renown companies in the world that produce high quality industrial and consumer technology products sold all over the world hence making it a worthy Siemens’ competitor.
5) Hitachi
- Product Type: Information and communication technology, power, industrial, and transportation systems.
- Industry: Conglomerate.
- Founded: 1910 by Namihei Odaira.
- Headquarters: Chiyoda, Tokyo, Japan.
- Area Served: Worldwide.
- Current CEO: Keiji Kojima
- Revenue: $16.954B (June 30, 2023)
- Market cap: $63.04B (September 15, 2023)
- Number of employees: 322,525 (2023)
Hitachi is a Japanese-based multinational company that specializes in engineering and electronics goods and services. This particular Asian Industrial giant is offering a wide range of products and services including, construction equipment, transportation materials, nuclear reactors, MRI systems and thermal power generation systems among others. It is also expected that Hitachi will be able to ship at least 495 million hard drive units for the year 2017.
Hitachi net income for the quarter ending June 30, 2023 was $0.511B. Hitachi gross profit for the quarter ending June 30, 2023 was $4.194B. Hitachi operating income for the quarter ending June 30, 2023 was $0.953B.
Hitachi’s revenue is worth $16.954B making it one of the leading Japanese non-automotive brand. Considering that it has established its service and distribution centers all over the world, it has equally employed more than 322,525 employees in all of these centers to facilitate service delivery to the customers with the respective areas. Because it is a known brand and a brand liked by people, Hitachi is ranked 5th amongst all Siemens Competitors.
6) Philips B2B
- Product Type: Information and communication technology.
- Industry: Conglomerate.
- Founded: 1910
- Founders: Namihei Odaira.
- Headquarters: Chiyoda, Tokyo, Japan.
- Area Served: Worldwide.
- Current CEO: Keiji Kojima
- Revenue: $16.699B (June 30, 2023)
- Market cap: $125.7B (September 15, 2023)
- Number of employees: 172,000(2022)
Philips is a Dutch-based multinational company that manufactures a wide range of consumer and industrial electronics, healthcare equipment and lighting products. It is headquartered in Amsterdam. It was founded in 1891 and has grown to become one of the largest brands in the world. It also operates some subsidiaries, which play a vital role in anchoring its potency in this particular crowded industry.
In 2022, Group sales amounted to EUR 17.8 billion. In 2022, Philips’ net income amounted to a loss of 1.6 billion euros. As of July 2023 Philips has a market cap of $19.98 Billion.
It is, therefore, a significant player in this industry that cannot be ruled out by any competitor interested in understanding various aspects of the industry.
7) ABB Ltd
- Product Type: Electrical equipment, power grids, industrial automation, robotics, and motion.
- Industry: Engineering.
- Founded: 1988 by the merger of Asea and Brown Boveri.
- Headquarters: Zurich, Switzerland.
- Area Served: Worldwide.
- Current CEO: Bjorn Rosengren
- Revenue: 29.5 billion (2022)
- Market cap: $68.18 Billion (September 2023)
- Number of employees: 105,130 (2022)
ABB Group is a leading Swedish-Swiss multinational corporation that produces heavy electrical equipment, automation technology services, robotics and power among other. It was founded in 1988 after the merger between ASEA of Sweden and Brown Boveri & Cie of Switzerland. It, however, has its headquarters in Zurich, Switzerland but also has established quite a considerable number of service centers in different parts of the world.
The ABB group had Orders of $34.0 billion in 2022. Their Income from operations was $3,337 million.
It is also estimated that ABB Group has employed more than 105,130 employees in all its service centers located in different countries all over the world.
8) Larsen and Toubro
- Product Type: Engineering, construction, manufacturing, and technology.
- Industry: Multinational conglomerate.
- Founded: 1938 by Henning Holck-Larsen and Søren Kristian Toubro.
- Headquarters: Mumbai, India.
- Area Served: Worldwide.
- Current CEO: S N Subrahmanyan
- Revenue: Rs 183,341 crore (FY 2022-23)
- Market cap: $49.34 Billion (September 2023)
- Number of employees: 172,000(2022)
Larsen and Toubro is an Indian-based multinational company that deals with IT, construction equipment, engineering equipment and financial services among many others. It was founded in 1938 by 2 Danish refugees who resided in India, and its headquarters is in Mumbai.
For the fiscal year 2022-23, the company achieved consolidated revenue of Rs 183,341 crore. Larsen & Toubro (L&T) on May 10, 2023, reported a 10 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 3,987 crore for the quarter ended March 31, 2023. The consolidated revenue for the quarter, too, rose 10 per cent YoY to Rs 58,335 crore.
It is often referred to as L&T and has grown over the years to become one of the giant multinational corporations in India. It has offices in different areas all over the world and has employed more than 86500 employees deployed in various areas worldwide to enhance service delivery to the clientele. As of December 2017, L&T had recorded a revenue worth $17 billion, which is an impressive figure considering that is currently facing stiff competition in the region and the world in general. In Asia, L&T might be bigger than Siemens and hence it is considered as one of the Siemens Competitors.
9) BHEL
- Product Type: Heavy electrical equipment.
- Industry: Engineering.
- Founded: 1964 by the Government of India.
- Headquarters: New Delhi, India.
- Area Served: India.
- Current CEO: Nalin Singhal
- Revenue: ?21,210 crore (US$2.7 billion) (2022)
- Number of employees: 30758 (As on 31 March 2022)
BHEL stands for Bharat Heavy Electricals Limited. As the name suggests, it is an Indian-based multinational company that specializes in producing engineering and manufacturing products and services. It was founded and also owned by the Indian Government in 1964, but unlike most government-owned establishments, it has been able to provide worthy competition to many other privately-owned institutions on the country and region as a whole.
Bharat Heavy Electricals Ltd (BHEL) logged over 17 per cent growth in new orders bagged in 2022-23 to Rs 23,548 crore. BHEL secured orders worth Rs 23,548 Crore (excluding taxes) during 2022-23 in its power, industry and export segments and the company ended the year with a total order book of over Rs 91,336 crore (excluding taxes). BHEL recorded revenue from operations of Rs 23,365 crore, up 10 per cent over the previous year. Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, today reported a 9 per cent growth in net profit at Rs 447 crore for the financial year ended March 2023.
It is so particular when it comes to investing in Research and Development, which apparently has played a significant role in its success over the past years. It has close to 30758 employees and offers its services to various countries in the region and world in general.
10) Adani Ports
- Product Type: Ports and logistics.
- Industry: Infrastructure.
- Founded: 1998 by Gautam Adani.
- Headquarters: Ahmedabad, Gujarat, India.
- Area Served: India.
- Current CEO: Karan Adani
- Revenue: ? 20,852 crore (January-March quarter)
- Market cap: $22.04 Billion (September 2023)
- Number of employees: over 3000 (2023)
It is commonly referred to as APSEZ, which stands for Adani Ports and Special Economic Zone Limited. It is arguably the largest Indian-based privately-owned multiport operator. It was originally known as Mundra Port and Special Economic Zone but was later renamed in 2012.
The Adani company’s revenue increased 40 per cent in the January-March quarter to INR 5,797 crore, and 22 per cent in the entire year 2022-23 to INR 20,852 crore. For 2023-24, total capital expenditure during the year is expected to be ? 4,000-4,500 crore. In 2022-23, Adani Ports handled 339.2 million tones of cargo, which is 9 per cent higher on a yearly basis.
It was founded in 1998 and specializes in offering shipping and port services. It coordinates quite some activities that take place at the ports and oversee various shipping services. Considering that it is quite a busy establishment, it has also employed relatively a considerable number of employees to facilitate efficient service delivery.
11) AVEVA
- Product Type: Ports and logistics.
- Industry: Infrastructure.
- Founded: 1998 by Gautam Adani.
- Headquarters: Ahmedabad, Gujarat, India.
- Area Served: India.
- Current CEO: Karan Adani
- Revenue: $1.55 B (2022)
- Market cap: $11.69 Billion (September 2023)
- Number of employees: 6500(2022)
AVEVA is a global leader in industrial software that provides solutions and expertise to optimize engineering, operations, and performance. The company was founded in the 1960s as CADCentre, pioneering the use of computer-aided design (CAD) techniques to empower industrial innovation. AVEVA has since become one of the world’s largest industrial software companies, with a strategic alliance with Schneider Electric. The company has a commitment to sustainability and driving responsible use of the world’s resources. AVEVA’s solutions include engineering, planning and operations, asset performance, and monitoring and control solutions, which deliver proven results to over 16,000 customers worldwide.
AVEVA’s culture values diversity, equity, and inclusion, and the company strives to create an environment where all employees are deeply valued for who they are. Industry and domain experts lead AVEVA with the curiosity to continually learn and the courage to make a positive impact. The company partners with experts across the globe to expand collaboration with open, secure solutions, on-site or in the cloud. AVEVA’s secure, open software and global network of partners help customers optimize at scale and seamlessly collaborate with their extended ecosystem. The company aims to advance sustainability with trusted information and insights
For the 2022 full year, the company reported sales was GBP 1,185.3 million compared to GBP 820.4 million a year ago. Net loss was GBP 62.6 million compared to net income of GBP 24.8 million a year ago.
12) Honeywell International, Inc.
- Product Type: Aerospace, building technologies.
- Industry: Multinational conglomerate.
- Founded: 1906 by Mark Honeywell and Albert Butz.
- Headquarters: Charlotte, North Carolina, United States.
- Area Served: Worldwide.
- Current CEO: Vimal Kapur
- Revenue: $9.146B (June 30, 2023)
- Market cap: $128.17B (September 15, 2023)
- Number of employees: 97,000(2022)
Honeywell International, Inc. is a publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. The company operates in four areas of business: aerospace, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS) . Honeywell’s products include aerospace and automotive products, residential, commercial, and industrial control systems, specialty chemicals and plastics, and engineered materials. The company provides a variety of services to its customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy-efficient products and solutions for homes, business, and transportation. Honeywell International, Inc. is a diversified technology and manufacturing company that has been innovating for more than 100 years
Honeywell gross profit for the quarter ending June 30, 2023 was $3.520B. Honeywell net income for the quarter ending June 30, 2023 was $1.487B. Honeywell operating income for the quarter ending June 30, 2023 was $1.883B.
13) Bosch
- Product Type: Automotive technology, industrial technology, consumer goods, and energy and building technology.
- Industry: Multinational conglomerate.
- Founded: 1886 by Robert Bosch.
- Headquarters: Gerlingen, Germany.
- Area Served: Worldwide.
- Current CEO: Stefan Hartung
- Revenue: 454 million euros (March 31, 2023)
- Market cap: $6.99 Billion (September 2023)
- Number of employees: 414,000(2022)
Bosch is a German multinational engineering and technology company founded in 1886 and headquartered in Gerlingen, Germany. The company is 94% owned by Robert Bosch Stiftung, a charitable institution, and operates in four main business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Bosch’s primary source of income comes from automotive components and services, where the company’s innovations and high-quality products cater to the demands of the global automotive market. Bosch offers a wide range of products and services, including automotive components, household appliances, power tools, drive and control technology, and IoT solutions for smart homes, Industry 4.0, and connected mobility. Bosch is a well-established and reputed brand with a strong global presence.
In the fiscal year of 2022, the German multinational engineering and electronics company Bosch reported profit after tax of some 1.8 billion euros. In the fiscal year of 2022, the Germany-based multinational engineering and electronics company Bosch employed some 414,000 people.
14) Toshiba
- Product Type: Power, industrial and social infrastructure systems.
- Industry: Multinational conglomerate.
- Founded: 1875 by Hisashige Tanaka.
- Headquarters: Minato, Tokyo, Japan.
- Area Served: Worldwide.
- Current CEO: Taro Shimada
- Revenue: $7.874B(March 31, 2023)
- Market cap: $13.42B (September 15, 2023)
- Number of employees: 106,648(2023)
Toshiba Corporation is a Japanese multinational conglomerate that manufactures and sells advanced electronic and electrical products. The company operates through five segments: Digital Products, Electronic Devices, Social Infrastructure, Home Appliances, and Other. Toshiba’s products and services include personal computers, visual products, and multi-functional peripherals, semiconductors, power devices, hard disk drives, and liquid crystal displays, energy-related, medical, and transportation equipment, information technology solutions, broadcasting and environment systems, and elevators, refrigerators, washing and drying machines, light fixtures, air-conditioners, and compressors, and logistics services. Toshiba is one of Japan’s oldest and largest producers of consumer and industrial electric and electronic products. The company is among the global leaders in semiconductors and LCDs and is considered one of Japan’s sogo denki, or general electric companies
Toshiba net income for the quarter ending March 31, 2023 was $0.365B. Toshiba gross profit for the quarter ending March 31, 2023 was $2.226B. Toshiba operating income for the quarter ending March 31, 2023 was $0.665B.
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