机械设备行业深度：寻找人形机器人的确定性：旋转关节投资机遇拆解

Investment Rating - The report rates the humanoid robotics industry as "Positive" [4] Core Insights - Humanoid robot component suppliers are expected to benefit significantly from industry development, with a collaborative model of "independent design and outsourced production" likely to emerge [11][30] - The focus should be on joint modules, axial motors, reducers, and sensors as key investment areas [3][31] Summary by Sections Humanoid Robot Component Suppliers - The main manufacturers hold the "definition rights" for humanoid robot joints, influencing design aspects such as degrees of freedom, joint schemes, and layout [14][30] - The industry is expected to follow a model similar to the automotive sector, where component manufacturers engage deeply in product development [27][30] Analysis of Rotational Joint Solutions - Rotational joints are highlighted as high-value and highly certain investment opportunities, being a significant cost component in humanoid robots [31] - The report identifies three main types of rotational joints: rigid actuators, elastic actuators, and quasi-direct drive actuators, with rigid joints currently being the most prevalent [2][32] Key Technical Insights - High torque is a core requirement for humanoid robot motors, with the current mainstream choice being frameless torque motors [52] - Axial motors are anticipated to see explosive growth due to their higher torque density compared to radial motors [2][52] Investment Recommendations - The humanoid robotics sector is projected to drive substantial growth in the overall industrial automation market, benefiting industry players broadly [3] - Emphasis should be placed on customer relationships and collaboration within the supply chain [3][30]