Industry development overview

1. Supply analysis: The total output of national enterprises exceeds 400,000 units

According to the National Bureau of Statistics, the output of industrial robots in China exceeded 100,000 units in 2017, and exceeded 200,000 units in 2020. In 2022, China’s industrial robots will usher in the double benefits of the domestic market and the international market, with a output of more than 440,000 units. There is a slight decline in 2023, but it still remains above 400,000 units.

SA920N Note: The above growth rate is comparable to the year-on-year growth rate.

2. Demand analysis: The total sales volume in the domestic market exceeded 300,000 units

Since 2016, the cumulative sales of industrial robots in the Chinese market has ranked first in the world. According to GGII data, in 2023, China’s industrial robot market sales of 316,000 units, an increase of 4.3%, and the overall market continued to increase slightly.

Note: Different organizations have slightly different statistics.

From the perspective of the application market, the consumer market of industrial robots has a wide range, and in 2023, the consumer demand of emerging industries such as photovoltaic, automotive electronics, and semiconductors has obvious pulling effect; The market demand for lithium battery, automobile and other vehicles has declined to varying degrees.

3. Market size: The domestic market sales scale exceeds 60 billion yuan

China’s industrial robot market has developed rapidly, accounting for about one-third of the global market share, and is the world’s largest industrial robot application market. At present, the demand for intelligent transformation and upgrading of production and manufacturing in China is increasingly prominent, and the market demand for industrial robots is still strong, according to IFR statistics, the market size of industrial robots in China will exceed 50 billion yuan in 2022, accounting for 45% of the global market, and it will be the largest market position of industrial robots in the world. Based on the sales growth rate of industrial robots, it is preliminarily estimated that the market size of China’s industrial robots will reach 61 billion yuan in 2023.

SA920N Industry competition pattern

1. Enterprise competition: Domestic manufacturers are rapidly catching up, and domestic substitution is accelerating

In the domestic industrial robot market, foreign brands such as Fanuc, Epson, ABB and Yaskawa Electric still occupy an important position. However, after the accumulation of technology in recent years, the domestic industrial robot industry has gradually formed its own competitive advantage, and domestic manufacturers represented by Efte, Estun, Zhongwei Xing, Guangzhou Qifan, Siasong and Xinshi Da have a certain scale and technical strength, and the domestic substitution process has accelerated.

From the sales of domestic manufacturers and foreign manufacturers in the industrial robot industry, in 2015, the sales of domestic manufacturers accounted for only about 30%, and by 2023, the sales of domestic manufacturers accounted for more than half, exceeding the sales of foreign manufacturers for the first time.

From the sales of different types of domestic and foreign manufacturers in the industrial robot industry, in 2023, in addition to multi-joint robots, SCARA, collaborative robots, and DELTA localization share are more than 50%, of which the domestic share of collaborative robots is close to 90%.