By South China Morning Post | Created at 2024-12-23 10:38:24 | Updated at 2024-12-23 14:05:47
3 hours ago
China’s industrial robot sales are expected to record its first decline in five years amid sluggish demand in the manufacturing industry, new market research shows.
The country’s total industrial robot deliveries this year are estimated to reach 300,000 units, down 5 per cent from 2023, according to the latest report from market consultancy Shenzhen Gaogong Industrial Institute (GGII).
That decline was attributed by the report to the “obviously tightening demand” from the manufacturing industry, especially the automobile and renewable energy sectors, as companies slowed down fixed-asset investments amid increased pressure on profitability.
The lower-than-expected volume of industrial robot sales marks the first decline since 2020, according to GGII data. The institute previously forecast a record 320,000-unit sales this year.
“Industrial robot manufacturers are experiencing a test of survival,” the report said. It pointed out that the slow demand has led to a price war in the industry.
