In the Chinese robot market, as domestic manufacturers accelerate their technological breakthroughs and continuously narrow the strength gap with foreign brands, the competitiveness of Chinese industrial robot industry will further improve. Meanwhile, with the introduction of a series of government support policies and the accelerated expansion of innovative products such as collaborative robots in special manufacturing scenarios, the scale of Chinese industrial robot industry will further expand, expected to reach 58.9 billion yuan by 2023, with a CAGR of approximately 11.7% from 2020 to 2023.
Five major trends in China's industrial robot industry in 2022:
Firstly, in the context of the national "dual carbon" strategic goal, the investment in the new energy industry chain will still maintain a relatively positive trend, and it is expected to continue the demand for industrial robots, with lithium batteries, photovoltaic, hydrogen electricity, etc. as the main representatives. It can be foreseen that 2022 will be a hot year for more industrial robot enterprises to layout their high value-added product industries such as green warehouses, intelligent manufacturing industry, and pharmaceutical industry, In terms of time, it is also inevitable that there will be a tug of war.
Secondly, the price increase of upstream raw materials involved in logistics technology and equipment may continue until at least the first half of 2022, especially for the manufacturing industry, which will be a continuation of pressure. In order to cope with the negative impact of price increases on the market, more and more industrial robot enterprises will make rapid product upgrades and new material substitution their core competitiveness in the future. The industrial robot market will be reshuffled in the next 3-5 years, Especially for robot enterprises with high load capacity, high cost-effectiveness, and customized development capabilities, there will be a significant positive trend.
Thirdly, the domestic market position will be further consolidated, and at the same time, the product form of collaborative robots will continue to be enriched, covering multiple dimensions of innovation such as load, arm span, number of axles, force control, sensors, etc. It is inevitable that competition among domestic manufacturers will also enter a white-hot stage. In addition, more and more domestic manufacturers will have qualitative breakthroughs in overseas markets. Especially in domestic warehouses, the demand for industrial robots and other processes such as handling, palletizing, and logistics picking will continue to grow. The proportion of collaborative robot matrix operations using 3D visual recognition in the era of algorithms will significantly increase.
Fourth, the state predicts that Chinese influence on the COVID-19 will gradually fade in 2022, and the market demand will show more structural differentiation. It still insists on the judgment that there is no possibility of "outbreak" on the whole. In 2022, the annual sales of domestic industrial robots will reach at least three manufacturers, and the market concentration ratio will further improve. At the same time, the new market pattern is expected to take shape. At the same time, It is expected that the annual sales growth rate of the Chinese industrial robot market will be around 15% -20%, and the localization rate will steadily increase. The market growth of the industrial robot industry is expected to exceed 41% in 2022.
Fifthly, in the next 3-5 years, over 70% of domestic enterprises will consider deploying a cargo to person system, which has also attracted a new round of attention in the capital market. Although the financing heat in the primary market will not significantly decrease, funds will be more concentrated in flowing to top manufacturers. The favorable policies in the secondary market will stimulate more robot related enterprises to impact their listing. After high growth in 2021, it is expected that no less than 10 industrial robot manufacturers will enter the preparation period for listing in 2022.