In the first quarter of 2024, China’s overall automation market sales of 78.3 billion, compared with the same period last year slightly decreased by 1.5%, the first quarter year-on-year data declined for two consecutive years, the overall market is still in the downturn stage. According to the comparison of the historical data of MIR DATABANK, the absolute value of the first quarter is generally the peak of the whole year, and the absolute value of the last three quarters often shows a downward trend, and the market situation is still not optimistic.

PXIE-8842 2021Q1-2024Q1 Overall market size of China’s automation in each quarter

* Product lines in the overall market data mainly include: HMI, CNC systems, sensors, controllers, inverters, intelligent manufacturing, industrial components, process automation, motion control.

So what has changed in the automation market in 2024 compared to 2023? How are the downstream industries doing? What development trends can be seen from the first quarter annual report of Chinese automation enterprises? What are the main aspects of the overall automation market in the three quarters after 2024? MIR will parse them one by one.

PXIE-8842

PXIE-8842 Changes and Dynamics of the Automation market in Q1 2024:

1, the OEM market is only growing in individual industries, and the overall market is still driven by the project market.

2, lithium, photovoltaic demand contraction, 3C electronics market has signs of recovery, but the overall recovery of the downstream industry is still not obvious.

3. Ac servo, low-voltage inverter, HMI and other product lines have negative growth for five consecutive quarters, domestic demand continues to be insufficient, and policy support is needed for recovery.

4, ten Chinese automation listed companies announced financial results, challenges and opportunities coexist. The wave of lay-offs by foreign companies has been hit by international tensions and the rise of automation in China.

5, 2024 annual forecast: What are the main aspects of the recovery?