China's Industrial Robot Market Leads Globally with Massive Installations and Growth Potential
TapTechNews September 28th news, comprehensively reported by Xinhua News Agency and CCTV Finance today. The International Federation of Robotics based in Frankfurt, Germany, reported that in 2023, the number of newly installed industrial robots in China reached 276,300 units, accounting for 51% of the global new installations.
In total, the total number of industrial robots in China in 2023 is nearly 1.8 million units, ranking first in the world, and will continue to hold the position of the world's largest industrial robot market. The Chinese robot market will also accelerate its expansion in the second half of this year. In the long run, there is still great growth potential for the demand for robots in the field of Chinese manufacturing. It is expected that by 2027, the average annual growth rate will reach 5% to 10%.
The global total number of industrial robots in 2023 is about 4.282 million units, an increase of 10% compared to the previous year. Japan ranked second in new installations, with about 46,100 units; the United States ranked third, with about 37,600 units.
In addition, the latest statistics from the Ministry of Industry and Information Technology also show that in the past three years, China's new installed capacity of industrial robots accounts for more than half of the global total. As of July 2024, China holds more than 190,000 valid patents related to robots, accounting for about two-thirds of the global proportion.
According to TapTechNews' previous report, currently, the application of industrial robots in China covers 60 major categories of the national economy, firmly ranking as the world's largest industrial robot market. The production lines of 'robots making robots' are being launched or already in operation in many enterprises such as Shanghai and Nanjing.
Industrial robots are known as 'the pearl on the crown of the manufacturing industry' and are an important indicator to measure a country's scientific and technological innovation and high-end manufacturing level. There are a large number of world-leading enterprises in the field of intelligent robots in China, with well-known ones like DJI and Ecovacs leading the way, and Tencent and Meituan also having involvements.
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'China is the world's largest industrial robot market, and robots making robots are becoming a reality'