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| Morgan Stanley Expects $108 Billion by 2028 |
| A research note from Morgan Stanley predicts that China's robotics market will grow at an annual rate of 23% to $108 billion by 2028, compared to $47 billion in 2024. This growth helps strengthen the country's dominant position in this rapidly growing sector. |
China's share of the global robotics market reached approximately 40% last year, according to a report by Hong Kong-based analysts Sheng Chung and Chelsea Wang. No specific forecasts were provided for China's market share by 2028, according to a report published by SCMP and reviewed by Al Arabiya Business.
They stated: "China is not only the largest market, but it is also arguably the center of global innovation, driving cost efficiency and the development of next-generation robots." Robots have reshaped China's manufacturing sector and will have a deeper impact on society in the future as they become more intelligent, collaborative, and affordable.
Separate data released by China's National Bureau of Statistics on Monday revealed that the country's industrial robot production rose 35.5% year-on-year in May, reaching 69,056 units, while service robot production jumped 13.8% to 1.2 million units.
Robots are a key component of the "Made in China 2025" initiative, launched a decade ago to position the country at the forefront of various high-tech industries. This strategy aims to establish China as a global leader in smart manufacturing. China dominates the global robotics landscape, accounting for more than half of the world's industrial robot installations last year.
The country is home to 741,700 robotics companies, including leading companies such as Hong Kong-listed UBTech Robotics, Hangzhou-based Unitree Robotics, and Shanghai-based AgiBot. Morgan Stanley predicts that drones will be the largest robotics sector in China, growing from $19 billion in 2024 to $40 billion by 2028.
The humanoid robot market is also expected to grow at a rapid annual rate of 63%, from $300 million this year to $3.4 billion by 2030. The report states that by 2030, China is expected to be home to 252,000 humanoid robots, rising to 302 million units by 2050, representing 30% of the world's humanoid robots.
The researchers said this year will be "a landmark year in the history of humanoid robots, as it will mark the beginning of mass production." They added that robots are reshaping China's manufacturing sector by achieving unprecedented gains in productivity and quality, paving the way for future industrial upgrades.
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