Chicago, June 15, 2023 (GLOBE NEWSWIRE) -- According to a research report China Industrial Robotics Market by Type (Traditional, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets, China Industrial Robotics Market to Grow at a CAGR 46.0% from 2022 to 2027.
Growth of automotive and electronics industries expected to drive the industrial robots market.
According to the International Trade Centre, China is the world’s largest exporter and importer of manufactured goods. The once readily available labor has resulted in the growth of several labor-intensive industries, such as clothing, textiles, footwear, furniture, plastic products, bags, and toys. However, the aging population has created a labor shortage in recent years, leading to a wage rise. This is compelling companies to adopt automation and industrial robots to reduce costs.
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hina is moving from labor-intensive simple industries toward high-tech manufacturing goods, such as semiconductors, through its Made in China 2025 policy. With Chinese telecommunication equipment giant Huawei being placed on the US blocklist, China aimed to produce 40% of the semiconductors it uses by 2021 and 70% by 2025. In May 2019, the Chinese government announced tax breaks for homegrown semiconductor companies; Xiaomi and Alibaba, these companies have already begun working on their AI processor.
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According to the International Organization of Motor Vehicle Manufacturers (OICA), China is the largest manufacturer of commercial vehicles. Therefore, the demand for industrial robots in the electronics and automotive industries is expected to be high. According to the Information Technology & Innovation Foundation, China provides higher subsidies for robot adoption than any other nation and is expected to lead the world in the number of industrial robots used across the industry. Government initiatives and regulations to introduce fuel-efficient cars to reduce emissions and the carbon footprint present an opportunity for an industrial robotics market recovery.
The Chinese government has ambitious plans for the country’s robotics industry. It has listed the robotics industry and AI and automation as one the priority sectors for high-end development to push forward the transformation of the manufacturing industry. China is also one of the largest manufacturers and assemblers of electronics; however, a slump in demand for smartphones has affected the need for automation in the sector. With increasing labor costs, China is expected to increase investments in automation further to maintain its cost advantage in production. As a result, China’s industrial robotics market will remain dominant during the forecast period.
Top Key Market Players in Industrial Robotics companies
- FANUC Corporation (FANUC (Japan)),
- ABB (Switzerland),
- Yaskawa Electric (Yaskawa (Japan)),
- KUKA (Germany),
- Mitsubishi Electric (Japan),
- Kawasaki Heavy Industries (Japan),
- DENSO (Japan),
- Nachi-Fujikoshi (Japan),among others
See Also :
Japan Industrial Robotics Market
Germany Industrial Robotics Market
UK Industrial Robotics Market
South Korea Industrial Robotics Market
France Industrial Robotics Market
