The reasons for the decline of China’s industrial robot market in 2023:

IRDH375B-435 Uncertainty of the external environment: In recent years, global trade protectionism has heated up, coupled with the impact of the new coronavirus epidemic, and the global economic growth has slowed down, which has a certain suppression effect on the demand for China’s industrial robot market.

Adjustment of the industry cycle: China’s industrial robot market has experienced rapid growth in the past few years, and the growth rate has slowed down with the adjustment of the industry cycle. In addition, some traditional manufacturing areas are also facing overcapacity, technology upgrading difficulties and other problems, which also affect the market demand for industrial robots to a certain extent.

IRDH375B-435 Increasing cost pressure: With the rise in raw material prices and the rise in labor costs, some enterprises are less willing to invest in industrial robots. At the same time, due to the high initial investment in industrial robots and the long return cycle, some small and medium-sized enterprises are discouraged from the application of industrial robots.

The challenge of technological innovation: although China’s industrial robot technology is constantly improving, there is still a gap with the international leading level in the high-end field. At the same time, some enterprises have doubts about the introduction of new technologies, worrying about technical risks and production disruptions, which also affects the expansion of the industrial robot market.

The intensification of market competition: As more and more enterprises enter the field of industrial robots, the market competition is becoming increasingly fierce. Some enterprises in order to compete for market share, adopt a low price strategy, resulting in the entire industry’s profit space is compressed.

IRDH375B-435 However, the humanoid robot track is gradually hot and is expected to become a new growth point.

According to China Robot network statistics, from January 1 to December 15, 2023, a total of nine humanoid robot companies in China received a cumulative financing of more than 1.9 billion yuan, of which three companies have a single round of financing of more than 100 million yuan. Reflected in the product, in 2023, domestic enterprises and teams launched more than 10 new humanoid robot products.

When artificial intelligence brings new imagination to universal humanoid robots, many global giants such as Tesla, Amazon, Microsoft, and Samsung are investing in the research and development of humanoid robots.

IRDH375B-435 According to the International Robotics Association predicts that from 2021 to 2030, the compound annual growth rate of the global humanoid robot market will be as high as 71%, and it will reach 100 billion in 2030.

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At the beginning of this year, the Japan Robot Association predicted that in 2024, the annual order volume of industrial robots in Japan will increase by 6.0% over the previous year, reaching 43.6 billion yuan. Chairman Kenji Yamaguchi (President of Fanuc) explained that “the wait-and-see situation for capital investment remains strong, but the demand for automation itself has not weakened, and the potential to achieve the target is huge”.

Although China’s industrial robot industry started late, but in recent years, with unremitting efforts, is gradually achieving independent research and development of core components, in the face of challenges, China’s industrial robot enterprises need to increase technology research and development and innovation investment, improve the core competitiveness of products, but also need to strengthen cooperation with all parties, to grasp the growth opportunities of the domestic industrial robot industry.