In a groundbreaking analysis of the global humanoid robotics industry, Morgan Stanley has released The Humanoid 100: Mapping the Humanoid Robot Value Chain report, revealing China's dominant position in this rapidly evolving sector. The comprehensive study highlights the transformative potential of humanoid robots, which could impact a USD 60 trillion global market and reshape the future of work.
Market Projections:
- China's 2050 market size: CNY 6 trillion
- China's 2050 robot deployment: 59 million units
- Global potential market impact: USD 60 trillion
China's Dominance in the Global Supply Chain
Morgan Stanley's research reveals that Chinese companies hold a commanding 63% share of the global humanoid robot supply chain. Of the companies confirmed to be developing humanoid robots, 73% are based in Asia, with Chinese firms accounting for 56% of this group. This dominance is particularly evident in the body segment of the robotics value chain, where Chinese integrators represent 45% of the market.
Market Distribution:
- China's share in global supply chain: 63%
- Asian companies in humanoid robotics: 73%
- Chinese companies in confirmed developments: 56%
The Three Pillars of Humanoid Robotics
The report categorizes the industry into three core segments: brain, body, and integration. The brain segment, comprising 22 companies including tech giants like NVIDIA, Microsoft, Google, and Meta, focuses on AI chips, software, and semiconductors. The body segment, the largest with 64 companies, encompasses manufacturers of sensors, batteries, motors, and reducers. The integration segment includes 22 companies, primarily automakers and tech conglomerates developing complete humanoid robot systems.
Industry Segmentation:
- Brain segment: 22 companies
- Body segment: 64 companies
- Integration segment: 22 companies
Shenzhen's Rising Prominence
Among Chinese cities, Shenzhen has emerged as a significant hub with seven companies making the top 100 list, including BYD, Tencent, UBTECH Robotics, RoboSense, and Leadshine Technology. These companies represent nearly a quarter of mainland China's entries on the list. Notably, Shenzhen-based humanoid robot manufacturers have achieved over 90% domestic production rates, with local supply chain integration exceeding 60%.
Market Potential and Future Outlook
Morgan Stanley projects substantial growth in the humanoid robotics sector, particularly in China. The report estimates that by 2050, China's humanoid robot market could reach CNY 6 trillion, with a projected deployment of 59 million units. Globally, the technology could potentially impact 75% of U.S. civilian occupations and approximately 40% of the workforce, representing a USD 3 trillion market opportunity.
Competitive Landscape
The global market currently features 16 major humanoid robot products, with six from Chinese companies including Xiaomi Robotics, Fourier Intelligence, XDynamic, UBTECH, YuShu, and XPeng. These companies compete alongside U.S. leaders such as Agility Robotics, Apptronik, Boston Dynamics, Figure, and Tesla, highlighting the increasingly competitive nature of the industry.