💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

China leads global surge in industrial robot installations

Published 29/11/2023, 12:45 pm
© Reuters China leads global surge in industrial robot installations

The industrial robotics sector has witnessed a transformative era, with China emerging as a pivotal player in the global arena.

Data from the International Robotics Federation (IFR) reveals a tripling of the operational stock of industrial robots over the past decade, culminating in nearly four million robots across various industries by the end of 2022.

Significantly, China has been at the forefront of this robotic revolution.

In 2022, it accounted for more than half of the world's newly installed industrial robots, a rapid ascent that is closing the gap with established leaders South Korea and Japan.

Notably, these two countries led in terms of robot density in 2021, with the highest number of robots installed per 10,000 workers in the manufacturing industry.

Record-setting year

The World Robotics report highlights a record-setting year in 2022, with 553,000 new industrial robot installations, pushing the global operational stock to 3.9 million.

China's contribution to this surge is unmatched, making it the largest market for industrial robots.

Japan, not far behind, added more than 50,000 new installations in 2022, securing its position as the second-largest market, closely followed by the United States and South Korea.

Furthermore, Japan holds the distinction of being the largest manufacturer of industrial robots, responsible for 46% of the global production in 2022.

Despite China's dominance in market size and growth, South Korea and Japan still lead in robot density.

South Korea boasted 1,000 installed robots per 10,000 manufacturing workers, compared to Japan's 399 and China's 322.

This data underscores a pivotal shift in industrial processes towards automation, with Asia, spearheaded by China, leading this global transformation.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.