行星滚柱丝杠——高精技术集成之作，人形机器人线性关节

Industry Overview - Planetary roller screws are a high-value segment in humanoid robots, with a single Tesla Optimus requiring 14 planetary roller screws, each priced at approximately 2,000 RMB, contributing to a total value of over 28,000 RMB per robot [3] - Planetary roller screws have a gross margin of up to 60%, making them one of the most profitable components in humanoid robots [3] - The global humanoid robot market is projected to reach 2050 million units by 2030, with a corresponding market size of 28703 billion RMB, and the value of planetary roller screws applied in humanoid robots is expected to reach 2296 billion RMB by 2030, with a CAGR of 1541% [5] Technological Advantages and Market Potential - Planetary roller screws offer advantages such as high load capacity, precision, compact size, and long service life, making them more suitable for humanoid robots compared to ball screws [4] - The domestic market for planetary roller screws is highly concentrated, with foreign companies holding 80% of the market share, but domestic companies like Nanjing Gongyi are closing the performance gap, indicating significant potential for domestic substitution [4] - The global market for ball screws and planetary roller screws is expected to grow from 1595 billion RMB in 2023 to 4730 billion RMB by 2030, with a CAGR of 168%, and planetary roller screws for humanoid robots will contribute 731% of the incremental growth [56] Key Companies and Their Developments - Xinjian Transmission: The company has built the first domestic production line for planetary roller screws, with an annual capacity exceeding 35 million units, and its products have been applied in humanoid robots and automotive EMB braking systems [71][76] - Dingzhi Technology: A leader in linear actuators, Dingzhi Technology holds the second-largest global market share and is developing micro planetary roller screws, with its linear actuators widely used in medical and industrial automation fields [79][80] - Qinchuan Machine Tool: The company has mastered core technologies in thread casting and can produce ball screws with precision up to P0 level, with its products already in mass production for grades 2 and 3 [6] Market Trends and Future Outlook - Humanoid robots are positioned as disruptive products following computers, smartphones, and new energy vehicles, with key investment directions focusing on core technologies and critical components [49] - The domestic planetary roller screw industry is at a critical juncture for large-scale application, with China leading in patent applications, accounting for 44% of the total, and significant advancements in design, manufacturing, and performance testing [65][67] - The global planetary roller screw market is dominated by foreign companies like GSA, Ewellix, and Rollvis, but domestic companies are rapidly catching up, with Nanjing Gongyi and Bot Precision holding 8% market share each [63][64]