机械设备行业周报：人形机器人丝杠走向量产，国产丝杠领跑全球

Investment Rating - The industry investment rating is "Positive" [24] Core Insights - The report highlights that the screw rod is the highest value core component in humanoid robots, accounting for approximately 20% of the overall robot cost. The market for screw rods is expected to expand significantly, potentially reaching 25.2 billion yuan with the mass production of humanoid robots [21][24] - The report draws parallels with Tesla's approach in the Starship project, suggesting that the humanoid robot platform may also be open-sourced in the future, which could further drive down costs and enhance supply chain efficiency [21][24] - The report emphasizes that the screw rod's precision must reach C5 level for humanoid robots, which presents a high barrier to mass production due to the technical challenges involved [21][24] Summary by Sections Section 1: Screw Rod as a Core Component - The screw rod is crucial for humanoid robots, converting rotational motion into linear motion. Tesla's humanoid robots utilize planetary roller screw rods and micro ball screw rods [21][24] - The report estimates that with mass production, the screw rod market could expand to 25.2 billion yuan, with planetary roller screw rods contributing 18 billion yuan and micro ball screw rods contributing 7.2 billion yuan [7][21] Section 2: High Precision as a Technical Challenge - Precision is identified as the core technical challenge for screw rods, with standards defined by JIS, where C0 represents the highest precision with a maximum error of 3.5 micrometers over 300mm [2][21] - The report indicates that the screw rod's precision directly influences its performance and application areas, with C5 precision being necessary for humanoid robots [5][21] Section 3: Domestic Supply Chain Advantages - Domestic manufacturers are positioned to lead the global market in screw rod production, with the first large-scale production project for humanoid robots initiated by Xinjian Transmission, aiming for an annual output of 1 million units [41][21] - The report identifies three categories of companies with foundational screw rod technology, including those deeply engaged in the screw rod industry and those with precision processing capabilities [66][21]