UR8RH On the whole, due to lower than expected revenue growth, the expense ratio rose, which had a greater impact on net profit. But Eston claims that the fundamentals have not changed and that short-term headwinds will not change the medium – to long-term outlook. Through the “two-wheel drive” at home and abroad, we continue to optimize management and improve the quality of operation. And continue to invest in research and development capabilities and sales channels, at the same time will pay close attention to market trends, actively expand business, take effective measures to reduce costs and increase efficiency, improve comprehensive competitiveness, and improve profitability as soon as possible.
It should be pointed out that, affected by the downturn of some downstream industries, sales revenue did not meet expectations. In addition, the downstream industry competition intensified, in order to maintain market share increase, in the participation in market competition, also caused a certain decline in gross profit margin. You know, the industrial robot circuit has gathered many important manufacturers, and the competition is becoming increasingly fierce.
In terms of the global industrial robot market, Fanuc, ABB, Yaskawa, Kuka foUR8RH ur manufacturers accounted for 50% of the market share. Among the domestic industrial robot manufacturers, Esten, Huichuan Technology, and Efte three manufacturers entered the global TOP10, and also firmly occupied a favorable position in the market competition. However, in order to seize the market, to fight a price war to affect the profit.
Of course, industrial robots are still a promising track. Thanks to the continuous increase in the level of digitalization, automation and intelligence in the production process of the manufacturing industry, the development level of intelligent manufacturing has steadily improved. Despite the overall slowdown in the growth rate of the global industrial robot market, there are still many Chinese industrial robot companies that can maintain high sales growth.
MIR Rui Industry statistics of the TOP20 industrial robot manufacturers in China’s industrial robot market in 2023, of which 3 domestic manufacturers entered the TOP10, respectively, Eston, Huichuan, Efte. In addition to these three, there are seven domestic manufacturers into the top 20. At the same time, China has become the world’s largest industrial robot market, accounting for more than half of global sales.
MIR Rui Industry expects that in 2024, the year-on-year growth rate of China’s industriaUR8RH l robot market is expected to reach about 5%-10%. In the medium and long term, industrial robots are still automation products in the growth stage and are expected to continue to maintain double-digit growth in the next few years. Among them, the domestic head manufacturers have continued to expand in the past two years, and the sales of industrial robots in the first quarter of 2024 increased slightly by about 4.8% compared with the same period last year, but the market share of domestic brands increased by 8% to 48.8%.
