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June 30, 2021updated 05 Nov 2021 8:42am

Exclusive database of multinational power industry operations and technology companies

The world’s leading power industry operations and technologies companies operate an average of 124.6 subsidiaries each. We reveal the global hotspots for these operations.

By Patrick Scott and Carmen

Power industry operations and technologies multinationals are far less likely to establish subsidiaries in Asia-Pacific than the average multinational company according to analysis of GlobalData’s exclusively compiled subsidiary database.

Companies establish subsidiaries for a variety of reasons: they can allow them to expand into profitable new markets, to increase revenue, and to diversify their holdings to better manage risk. As a vital component to a company’s expansion plans, the establishment of a subsidiary can offer insight into investment trends, with our database allowing you to see these investment patterns on a wider, sector level.

GlobalData’s multinational company database – which can be viewed in full on our sister site Investment Monitor – contains information for 2,188 of the world’s top multinational companies (MNCs) by revenue. Of these MNCs, 103 are in the power industry operations and technologies industry, representing 4.7% of the companies in our database.

These power industry operations and technologies companies are less likely than average to establish subsidiaries in Asia-Pacific (16.5% vs 21.4%) and are more likely to establish them in North America (32.6% vs 27.8%).

Overall, the 103 power industry operations and technologies MNCs in our database operate 12,830 subsidiaries. This comes to an average of 124.6 subsidiaries per company, compared to an average of 99 for the entire database of 2,188 companies. It should be noted, however, that the number of subsidiaries is by no means evenly distributed within the sector.

The most common number of subsidiaries for an MNC in the sector (the mode) is 20, while the median comes in at 46, indicating that the simple average is skewed heavily by the bigger parent companies.

Germany-based Siemens AG has the largest number of subsidiaries among the power industry operations and technologies sector MNCs within our database with 1,054. This means it ranks in 10th place across our entire database when measured by the total number of subsidiaries.

Where has Siemens AG established subsidiaries?

Siemens AG’s subsidiaries are distributed across the world with 45.5% of the total located in Western Europe, the highest for any region. Some 140 of Siemens AG's subsidiaries are located in its home country of Germany, while India was the second most popular destination with 72.

After Siemens AG, Enel SpA had the second largest number of subsidiaries within the power industry operations and technologies industry MNCs in the database with 840, while E.ON SE was third with 763 and The AES Corp was fourth with 742.

Where has Enel SpA established subsidiaries?

Overall, 5,311 of the subsidiaries owned by the power industry operations and technologies MNCs in the database were located in the same country as the parent company was headquartered. This meant that MNCs in the sector were less likely than average to have a preference for domestic subsidiaries at 41.4%, with the figure for the entire database standing at 45.7%.


GlobalData has compiled a list of top MNCs based on revenue. Any top companies that did not have a subsidiary were removed from the list. The latest company annual reports (2019 and 2020, where available) and websites were analysed for a total of 2,188 companies.

For a subsidiary to be included, the parent company had to have a majority ownership/control in the subsidiary. Affiliates, associates, joint operations and joint ventures were included as long as the ownership criteria was met. Subsidiary information was captured at a country level. Country names were standardised. In total, 216,898 subsidiaries were captured.

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