[Chinese Robotics] Domestic Manufacturers Achieve Record-Breaking Market Share In 2024, Optimistic Outlook For Industrial Robots.

[For Hong Kong Investors Only] In 2024 Q1, domestic manufacturers in China achieved a record-breaking market share of 48.8%. Companies like Estun and Inovance made it to the top 4 for the first time. This growth was driven by strong demand in industries such as home appliances, 3C, and automotive electronics. Despite sluggish demand in areas like lithium batteries and photovoltaics (solar energy), the overall outlook for industrial robotics in China remains optimistic. Market Intelligence Resource (MIR) predicts a stable growth rate of 4.2% in 2024, with even stronger momentum in the following years. This trend highlights the irreversible achievements made by domestic manufacturers and the shift towards import substitution. Exciting times lie ahead for the Chinese robotics industry! 🤖🚀 #RoboticsIndustry #China #DomesticManufacturers #MarketGrowth

Source: Macquarie Research, as of May 6, 2024.

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