Can China's AGV market continue to improve?

Rapid growth, strength precipitation

The first AGV developed by the Lifting Machinery Research Institute in 1976 was 23 years later than the development of foreign countries, but from the first domestic AGV landing application in 1991 to now, The Chinese AGV market has experienced rapid development, has changed from the initial dependence on imports to overseas, limited application field into a wide range of industry coverage. The figure below shows the new increment and growth rate of China's AGV category from 2011 to 2018. In recent years, China's AGV market has maintained a relatively high growth rate.

At present, China's AGV industry has achieved large-scale localization. Different from other industrial robot markets dominated by foreign brands, AGV robot market is dominated by Chinese product brands. According to public information, in 2018, 17 AGV enterprises with market sales of over 100 million are domestic brands, and the market share of foreign brands can be ignored.

The main reason why the degree of localization is so high is the high cost performance. As can be seen from the price comparison information of major domestic and foreign products in the figure below, the average price of domestic AGV products is hundreds of thousands of yuan lower than that of foreign AGV products, and even the lowest price of some products is only tens of thousands of yuan, which is several times different from that of foreign products. Therefore, domestic AGV quickly opens the domestic market at a low price.