Recently, Morgan Stanley released a research report titled "Humanoid Robots 100: Mapping the Humanoid Robot Value Chain", claiming that the potential market size for embodied intelligence could reach 60 trillion dollars. The report also outlines the top 100 listed companies in the global humanoid robotics industry, with 35 companies from China.

The report divides the humanoid industry into three main segments,"Brain," "Body," and "Integrators." The "Brain" segment includes semiconductor and software companies, with China's Baidu, TSMC, and Horizon Robotics making the list. The "Body" segment covers electronic components, batteries, actuators, and other fields, with Chinese companies representing the highest proportion, including 24 firms such as EVE Energy, CATL, and Sanhua. The "Integrators" segment focuses on complete robot manufacturing, with Chinese companies like UBTECH, BYD, XPeng, and Tencent among the top 10 listed, also leading in market share.

According to data, by December 2024, China will have 451,700 smart robotics companies with a registered capital of over 64.4 trillion yuan. With a well-established supply chain, broad application scenarios, and policy support, Chinese humanoid companies are rapidly emerging. The market size is expected to reach 12 billion yuan by 2030, with sales of 1.5 million units, and 6 trillion yuan by 2050, with sales of 59 million units.

The report also highlights a large number of companies from Guangdong in both the "Body" and "Integrators" segments. Last year, UBTECH's industrial humanoids were used in training at factories of companies like NIO, BYD, and Foxconn. Before the Chinese New Year this year, robots from Shenzhen EngineAI Robotics were walking on the streets of Shenzhen and were dubbed "the most human-like robots walking." Michael Tam, chief Brand Officer at UBTECH Robotics, stated, "People are paying attention to humanoids because they see rapid progress toward general artificial intelligence. We shifted to industrial scenarios two years ago."

Leng Xiaokun, chairman of Leju Robotics, pointed out, "In 2018, The cost of large-size humanoids was nearly 3 million yuan, and the localization rate was less than 10%. Today, The localization rate is 90%, and the price is only a few hundred thousand yuan." He believes this significant change originates from the continuous improvement of Guangdong and the industry chainof roboticsin China.

Source: Lingnan on the Cloud

35家中国企业上榜！人形机器人全球百强登场

近日，摩根士丹利（Morgan Stanley）发布研报《人形机器人100：绘制人形机器人价值链图谱》，称具身智能市场潜在规模达60万亿美元，并梳理了全球人形机器人产业链上的百强上市公司，其中中国有35家。

《图谱》将人形机器人产业划分为“大脑”“身体”“集成商”三大板块：“大脑”板块涵盖半导体和软件企业，中国的百度、台积电、地平线入榜；“身体”板块涉及电子元件、电池、执行器等领域，中国企业占比最高，包括亿纬锂能、宁德时代、三花智控等24家企业；“集成商”板块涉及整机制造，中国的优必选、比亚迪、小鹏汽车、腾讯等10家企业入选，占比同样领先。

数据显示，截至2024年12月，中国智能机器人企业达45.17万家，注册资本达64445.57亿元。在完善的供应链、广阔应用场景和政策支持下，中国人形机器人企业异军突起，预计2030年市场规模达120亿元、销量150万台；2050年将达6万亿元、销量5900万台。

在《图谱》中，“身体”板块和“集成商”板块涌现了一大批来自广东的企业。去年，优必选的工业人形机器人先后在蔚来、比亚迪、富士康等工厂实训，今年春节前，众擎机器人在深圳街头行走，被称为“走路最像人的机器人”。深圳优必选首席品牌官谭旻表示：“大家关注人形机器人，是因为看到了它在迈向通用人工智能之路上的突飞猛进，我们两年前就转向工业场景。”

乐聚（深圳）机器人董事长冷晓琨指出：“2018年大尺寸人形机器人成本近300万元、国产化率不足10%，而如今国产化率达90%，售价仅几十万元。”他认为，这一巨大变化得益于广东及全国机器人产业链的不断完善。

文｜记者 许张超
图｜记者 蔡嘉鸿 报告截图
译｜王枥焓
英文审校｜林佳岱