In the past decade, as China's aging has intensified, labor costs have risen. At the same time, with the advancement of technology and the acceleration of domestic substitution, the sales price of industrial robots in China has been declining. The cost performance of industrial robots has increased relative to the growth of labor, which has promoted the rapid growth of industrial robots. Industrial robot industry. China's industrial machinery sales increased from 6,581 units in 2007 to 137,920 units in 2017, an increase of nearly 20 times. The compound annual growth rate of the decade is as high as 35.56%.
In the long run, industrial robots will continue to grow rapidly. The reasons are as follows:
First, China has entered an aging society and the level of aging will continue to intensify. This will continue to push up the labor costs of China's manufacturing industry, and the price/performance ratio of industrial robots will become more prominent.
Second, by 2017, China has 97 robots per 10,000 workers, second only to the global average, but only 1/7 of South Korea and 1/3 of Japan. China's industrial robots are far from saturated.
Finally, with the application of advanced technologies such as artificial intelligence and machine vision in the field of industrial robots, industrial robots will be more intelligent and automated, and their application fields will continue to expand, and the degree of artificial substitution will continue to deepen.
The demand for industrial robots is mainly affected by two factors. The first is the impact of manufacturing prosperity. Industrial robots are a means of production. When the manufacturing business is better, production expansion, corporate capital expenditure growth will drive demand for production materials including industrial robots. Second, the demand for industrial robots is affected by labor costs and the cost of purchasing industrial robots. Industrial robots are mainly used to replace manual labor. The labor cost saved by purchasing a robot can exceed the purchase cost of an industrial robot in a short period of time (usually within two years). Entrepreneurs replace industrial labor by buying industrial robots. Strong power will drive demand for industrial robots.