China's robotics industry ranks only fifth in competitiveness? It's not as weak as you think

A report by the Federation of Korean Industries shows that China's robotics industry ranks fifth among major countries in overall competitiveness, behind Japan, the United States, Germany, and Switzerland. The Chinese Institute of Electronics' China Robotics Industry Development Report (2022) forecasts that China's robotics market will reach $17.4 billion in 2022, with a five-year average annual growth rate of 22%, while the global market will reach $51.3 billion. Domestic manufacturers have already achieved partial localization in key core components such as reducers, controllers, and servo systems.