Product Categories
Robots can be mainly divided into industrial robots, service robots and special robots. The main products are shown in the figure below.
Source: 36 Krypton, Huatai Securities "Special Research on the Machinery and Equipment Industry-Commercial Service Robots: Dawn Has Been Blue Ocean - 220105".
The main types and application fields of industrial robots are shown in the figure below.
Source: Compiled by Shenzhen Enterprise Investment.
Overall Market Size
In recent years, industrial robots have been widely used in industries such as automobiles, electronics, metal products, plastics and chemical products. The spread of the new crown epidemic has accelerated the process of digital transformation in various industries, and robots have become an important tool for enterprises to quickly resume work and production. According to the "2022 China Robot Industry Development Report" by the Chinese Institute of Electronics, the global robot market is expected to reach US$51.3 billion in 2022, with an average growth rate of about 14% from 2017 to 2022. Among them, industrial robots are $19.5 billion, service robots are $21.7 billion, and special robots are $10.1 billion, as shown in the figure below. It is estimated that by 2024, the global robotics market is expected to exceed US$65 billion. <