China is about to dominate the robotics industry

China's robotics sector is forecast to lead the world, with a value of $108 billion by 2028 thanks to rapid growth and advantages in technology and costs.

China is breaking away in the robot manufacturing race. Photo: Bloomberg .

According to SCMP , the robot market in China is forecast to grow strongly in the coming years. In particular, this industry could reach 108 billion USD in 2028, up nearly 130% compared to 47 billion USD in 2024. This is the assessment from a research report published by Morgan Stanley bank on June 17, reflecting the growing role of the East Asian country in the global robot industry.

According to analysts Sheng Zhong and Chelsea Wang of Morgan Stanley bank, China currently accounts for about 40% of the global robot market share, the highest in the world . Although the report did not give specific figures for future figures, experts emphasized that the country of one billion people is not only the largest market but also plays a central role in innovation, promoting the development of the new generation of robots thanks to its advantages in cost and technology.

“Robots are reshaping China’s manufacturing industry. In the future, as robots become smarter, more flexible and more affordable, they will have an increasingly profound impact on society,” said a report by Morgan Stanley.

Data from the National Bureau of Statistics of China showed that industrial robot output in May reached more than 69,000 units, up 35.5% year-on-year. Service robot output also increased 13.8% to about 1.2 million units.

Robotics is a core area of ​​the “Made in China 2025” strategy, launched a decade ago to make China a leader in high-tech manufacturing. The country now accounts for more than half of the world’s industrial robots and is home to some 741,700 companies working in the field.

In addition, Morgan Stanley predicts that drones will become the next big sector in China, with the market value expected to increase from $19 billion in 2024 to $40 billion in 2028. Meanwhile, the humanoid robot market also promises to grow at a rate of 63% per year, from $300 million today to $3.4 billion in 2030.

According to the report, China could have about 252,000 humanoid robots by 2030 and 302 million units by 2050, equivalent to 30% of the total number of humanoid robots worldwide. 2024 is considered a turning point for this field, when mass production has begun.

Source: https://znews.vn/trung-quoc-sap-thong-tri-nganh-robot-post1561367.html