山西证券： 电子皮肤为人形机器人交互关键 行业有望维持高速发展

Core Insights - Electronic skin is crucial for humanoid robots to achieve tactile perception, enhancing interaction capabilities [1] - The global market for electronic skin is projected to reach $756 million by 2030, driven by the demand for humanoid robots [4] - Domestic manufacturers in China are rapidly closing the technology gap with foreign competitors, supported by policy and manufacturing advantages [4] Industry Overview - The global market for flexible tactile sensors is dominated by foreign companies, which hold 57.1% of the market share [4] - The humanoid robot market in China is expected to reach a scale of trillions in the long term, with electronic skin as a core component [4] Technology Landscape - Electronic skin can be categorized into five main technical routes, with resistive, capacitive, and piezoelectric being the most common [2] - The choice of technology involves a trade-off between sensitivity, cost, and reliability, with multiple routes expected to coexist [2] Challenges and Barriers - Material challenges include the need for high sensitivity, durability, and environmental adaptability [3] - Manufacturing complexities and high costs hinder large-scale deployment of electronic skin [3] - Algorithmic challenges involve the need for advanced calibration mechanisms and multi-modal sensing capabilities [3] Key Companies - Fule New Materials (605488.SH): Completed pilot production and is supplying small batches of advanced flexible tactile sensors [5] - Hanwei Technology (300007.SZ): Holds core technologies in flexible sensors and has established partnerships with nearly 30 robotics manufacturers [5] - Keli Sensor (603662.SH): Engaged in strategic investments in the electronic skin sector, with products in development [6] - Shenhao Technology (300853.SZ): Focused on non-contact electronic skin applications for operational safety in robotics [6] - Jinghua New Materials (603683.SH): Developed flexible tactile sensors for precise perception in robotic applications [6] - Audiwei (920491.BJ): Expanding into tactile sensor products for humanoid robot functionalities [6]