China Industrial Robot Markets, 2018-2022: Market to Grow by 20%, to Reach $5 Billion
It is estimated that the CAGR of China's industrial robot market will exceed 20% from 2018 to 2022, and the market size will exceed USD 5 billion in 2022.
- It is estimated that the CAGR of China's industrial robot market will exceed 20% from 2018 to 2022, and the market size will exceed USD 5 billion in 2022.
- The Bohai Rim, Yangtze River Delta, Pearl River Delta and Central West China have become the major clusters of China's industrial robot industry.
- Meanwhile, some Chinese enterprises have begun the acquisition of foreign industrial robot manufacturers to enhance their technologies and market share.
- Moreover, with more mature technologies, domestic-made industrial robots are replacing imports and the market prices will continue to decline, which further stimulates Chinese enterprises' demand for industrial robots.