人形机器人深度之七：灵巧之“手”，解锁人形机器人黄金赛道

1. Report Industry Investment Rating The document does not provide the report industry investment rating. 2. Core Viewpoints of the Report - The dexterous hand unlocks the application ceiling of humanoid robots. In 2025, many manufacturers are releasing dexterous hand solutions, and these solutions will iterate rapidly in the next two years, accelerating the training of hand - brain coordination in humanoid robots [4]. - The hybrid mechanical solution is the trend, combining high degrees of freedom and load - bearing capacity. In the short term, the scheme of hollow - cup motor + planetary reducer + ball screw + connecting rod will be the first to gain popularity, while in the medium and long term, a fusion scheme is more suitable [4]. - Multi - dimensional perception of the hand is the direction, which promotes hand - brain coordination. Tactile sensors are developing in the direction of high sensitivity, high integration, high extensibility, and low cost, with multiple technological routes advancing in parallel [4]. - Leading body manufacturers are conducting full - stack self - research, while component suppliers provide overall solutions. The price of dexterous hands is expected to drop in the medium term, and the market space for related components is large in 2030 [4]. 3. Summary According to the Directory Part 1: The Dexterous Hand Unlocks the Application Ceiling of Humanoid Robots and Iterates Rapidly - The dexterous hand is crucial for humanoid robots, determining their fine operation and complex task - execution capabilities. It accounts for 20% - 30% of the total cost of humanoid robots in the long run and is the most important hardware after the body actuator [9]. - Similar to the human hand, the dexterous hand requires high degrees of freedom, accuracy, durability, and perception. It is composed of four major modules: drive, transmission, control, and perception [17][22]. - In 2025, many manufacturers, including body manufacturers, independent integrators, and component factories, are making breakthroughs in dexterous hand technology, with significant product iterations [24]. Part 2: The Hybrid Mechanical Solution is the Trend, Combining High Degrees of Freedom and Load - Bearing Capacity - There are trade - offs between direct - drive and under - actuated schemes. The direct - drive scheme has high precision but large volume and high cost, while the under - actuated scheme is more compact, cost - effective, and adaptive [28][29]. - Motor drive is the mainstream driving method for dexterous hands, with hollow - cup motors and brushless slotted motors being the main choices. Hollow - cup motors are lightweight and fast - responding, while brushless slotted motors have high torque density [30][32]. - There are various transmission methods, including gears, screws, connecting rods, tendon ropes, and worm gears. The combination of planetary reducer + ball screw is the mainstream, and in the long term, a hybrid transmission scheme is the trend [50][70]. Part 3: Multi - Dimensional Perception of the Hand is the Direction, Promoting Hand - Brain Coordination - Human hand tactile perception is multi - dimensional, highly sensitive, and has high stretchability. Robot tactile sensors are developing in multiple technological directions to pursue optimal performance [74][78]. - There are multiple types of tactile sensors, such as piezoresistive, capacitive, electromagnetic, and visual - tactile sensors. Each has its own advantages and disadvantages. The development trend is towards high integration, high sensitivity, multi - dimensional force perception, high extensibility, and low cost [77][124]. Part 4: Leading Body Manufacturers Conduct Full - Stack Self - Research, and Component Suppliers Provide Overall Solutions - Leading body manufacturers, such as Tesla, FigureAI, and others, are conducting full - stack self - research on dexterous hands, with different solutions. Independent third - party integrators and component suppliers are also actively involved [4]. - The current price of dexterous hands varies greatly, with the mainstream price being 50,000 - 100,000 yuan per hand. In the medium term, the price is expected to drop to 5,000 - 30,000 yuan per hand, accounting for about 20% of the body cost [4]. Part 5: Investment Suggestions - The report recommends LeiSai Intelligence and ZhaoWei Machinery & Electronics, which can provide both overall solutions and components for dexterous hands. It also recommends component suppliers tied to core host factories, including manufacturers of hollow - cup motors, micro - screws, reducers, tactile sensors, and tendon ropes [4].