2025-06-17 06:17Investment Rating - The report assigns an "In-Line" rating for the robotics industry in China, indicating expected performance in line with the broader market benchmark [6]. Core Insights - The humanoid robot category is projected to become the largest segment in the long term, especially with advancements in Artificial General Intelligence (AGI) [3][9]. - The Chinese robotics market is expected to grow significantly, with a projected market size of approximately $47 billion in 2024, accounting for about 40% of the global market. The compound annual growth rate (CAGR) is anticipated to be 23% from 2025 to 2028, reaching $108 billion by 2028 [3][17]. - Drones are expected to dominate the market, comprising nearly 40% of the total market size by 2028, with collaborative robots, mobile robots, and service robots showing the fastest growth rates of 46%, 35%, and 25% respectively [3][4]. Market Size and Growth - The global robotics market is projected to grow at a CAGR of 17% from 2019 to 2024, with significant contributions from various segments including industrial, commercial, and service robots [13][15]. - By 2028, the potential market size for robotics components in China is estimated to reach $40 billion, with a CAGR of 23% [4][19]. Supply Chain Opportunities - The report highlights that 55% of global robots are expected to be produced in China, with key components such as motors and batteries representing the largest market segments, accounting for 13% and 17% of the total bill of materials (BoM) respectively [4][20]. - The report identifies attractive areas for investment within the supply chain, particularly in sensors, vision systems, motors, and reducers [9]. Recommended Companies - The report recommends investing in companies such as Midea and Xiaomi due to their diverse robotics product offerings and strong track records in product development and ecosystem building [4]. - Other notable supply chain participants include 汇川技术 (Inovance Technology), 地平线机器人 (Horizon Robotics), and 禾赛科技 (Hesai Technology) [4].