BUSINESS China's robot market stays on growth path

BUSINESS

China's robot market stays on growth path

China Daily

14:32, September 13, 2021

China has been the world's largest market for industrial robots for eight consecutive years, becoming a vital force to support the development of the global robot industry, state broadcaster CCTV reported.

(Photo: Global Times)

Xin Guobin, vice-minister of the Ministry of Industry and Information Technology, made the remarks at the 2021 World Robot Conference on Saturday.

Carrying the theme "Inject momentum and share results to build a win-win collaborative society", the high-tech fair attracted over 110 exhibitors showcasing more than 500 new robotics products and solutions.

In 2020, China's robot sector experienced rapid growth, with its overall market scale surpassing $100 billion for the first time, Xin said.

Statistics showed the size of the global robot sector increased to $30.6 billion in 2019 from $20.4 billion in 2016. Since the COVID-19 outbreak, the role of service robots has expanded greatly.

Liang Jing, deputy secretary-general of the Chinese Institute of Electronics, said robots' application scenarios have transformed from traditional industrial manufacturing and family services to logistics, storage, community management, catering and entertainment.

During the first half of this year, thanks to supportive polices and the overall business environment, the robot industry witnessed rapid growth, bringing huge development space and opportunities for enterprises.

After the 13th Five-Year Plan period, the domestic robot industrial system has been improved. Besides the automotive sector, service robots are also widely used in healthcare and elder care services.

This year, China's robot industry is expected to see growth of more than 30 percent, said Hao Yucheng, deputy director of the China Robot Industry Alliance.

In economics, industry and society, China has a huge market. Thus, the capital market remains positive on the domestic robot sector, with more rational inflows, Hao added.

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