In recent years, China’s domestic industrial robots have developed rapidly. Since 2023, China has installed 276,000 industrial robots, accounting for 51% of the world’s new installations, and the density of industrial robots has jumped to third in the world. In the first three quarters of 2024, the cumulative sales volume was about 216,000 units, an increase of 5% year-on-year.
Chinese domestic robot brands continue to rise, such as Estun and Huichuan Technology. At the technical level, Chinese domestic robots continue to achieve independent breakthroughs in key technologies such as core components and control systems. With the improvement of independent innovation capabilities, they will gradually break the technology monopoly and are expected to occupy a larger share in the high-end market.
Among Chinese domestic robots, Borunte Robot has a certain share in some market segments with its cost-effective advantages, and is competitive in the low-end and mid-end markets and small and medium-sized enterprises that are sensitive to ingredients.