Huawei may enter the game! Huatai Securities: The humanoid robot industry has broad room for development [With humanoid robot industry forecast]

Humanoid robot is a robot that imitates human appearance and behavior. Humanoid robots are used in a wide range of applications, including industrial production, health care, education, entertainment, etc. The manufacturing of humanoid robots involves technologies in multiple fields, including mechanical engineering, electronic engineering, computer science, artificial intelligence, etc. In order to achieve a high degree of simulation and intelligence of humanoid robots, advanced materials, sensors, actuators, control systems, etc. are needed

On September 26, since Tesla released the humanoid robot Optimus, technology giants such as Xiaomi, Samsung, and Zhiyuan have also joined the humanoid robot industry. The humanoid robot industry has broad room for development. For the development of humanoid robots, in addition to the need to reduce the cost of higher-cost components, software-side data collection and model training also increase costs. In the current context of the increasing number of humanoid robot manufacturers, there is an urgent need for cloud computing , companies with large model solutions have entered the game.

Huawei is my country's leading artificial intelligence company, with deep accumulation in cloud platform, Pangu large model, source operating system openEuler, Bisheng compiler and other fields. The development of humanoid robots requires a lot of computing power and model training. Huawei's layout in the field of humanoid robots will focus on cloud platforms and computing power platforms, and can be entered by establishing an industrial ecosystem.

Industrial chain analysis: upstream are core components and downstream are application areas

The humanoid robot industry chain mainly includes upstream core components, such as frameless torque motors, coreless motors, sensors, special chips, etc.; the midstream is the manufacturing of robot bodies, including design, manufacturing, and testing; the downstream is humanoid Robot application fields include industrial manufacturing, warehousing and logistics, medical services, commercial services, home use, etc.

The upstream core component manufacturers of the humanoid robot industry chain include frameless torque motor manufacturer Buko Co., Ltd., hollow cup motor manufacturer MOONS Electric, reducer manufacturers Green Harmonic, Zhongli De, and Double Ring Transmission, and control system manufacturer Hui Sichuan Technology, encoder and sensor manufacturer Haozhi Electromechanical, planetary roller screw manufacturer Changsheng Bearing, Qinchuan Machine Tool, etc.; the number of mid-stream humanoid robot body manufacturers is relatively small, mainly including Tesla, Xiaomi, UBTECH, and Smart Yuan Robot, etc.; downstream application fields are wide and there are many manufacturers in different industries

Demand situation: Humanoid robot market has huge potential

From a global perspective, humanoid robots have commercial application scenarios expected to be implemented, such as patrolling, logistics and warehousing; humanoid robot products that are leading the commercialization process include EVE and Digit. Specifically, the humanoid robot EVE jointly developed by 1X Technologies and ADT Commercial in the United States has been successfully used in patrol security scenarios; Digit’s application scenarios are mainly in the logistics and warehousing links, and its tasks mainly include unloading trucks, carrying boxes, and management. Shelves, etc., are expected to be fully launched in 2025.

With the multi-dimensional empowerment of policies, capital and technology, the potential of the humanoid robot market is expected to be accelerated. Future business application scenarios are expected to penetrate into the service industry, manufacturing and other fields. Musk has stated that his long-term goal in designing Tesla robots is to serve thousands of households, such as cooking, mowing lawns, and taking care of the elderly. At present, the development direction of humanoid robots with great potential is mainly for manufacturing, aerospace exploration, life service industry, university scientific research, etc. It is expected that in 2025, humanoid robots are expected to achieve breakthroughs in manufacturing scenario applications, and be used in small batches in electronics, automobiles, etc. environment.

According to a report released by GGII in May 2023, the penetration rate of global humanoid robots in service robots is expected to reach 3.5% by 2026, with the market size exceeding US$2 billion. By 2030, the global market size is expected to exceed 20 billion Dollar. Based on numerical calculations that China's service robot market accounts for approximately 25% of the global market, China's humanoid robot market will reach US$5 billion in 2030.

Fu Chunjiang, vice president of UBTECH and head of the humanoid robot business unit, pointed out that the current labor cost in first-tier cities and surrounding areas is about 100,000 yuan a year. If robots are introduced into production workshops, OEMs can usually achieve an acceptable overall rate of return in about 3-5 years. As labor costs rise and the mass production of humanoid robots continues to increase in scale and cost, robots will further accelerate their influx into workshops in the future

The research report of Zheshang Securities pointed out that it is optimistic about the general trend of humanoid robot industrialization and will focus on the leading enterprises in the manufacturing of core components of humanoid robots

Foresight Economist APP Information Group

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