摩根士丹利大幅提高了对中国的人形机器人市场,的展望，称行业的从示范到商业部署的转变速度快于预期。
Morgan Stanley has sharply raised its outlook for China的 humanoid robotics market, saying the industry的 shift from demonstration to commercial deployment has proved faster than expected.
The Wall Street bank upgraded its forecast for China的 humanoid robot shipments for a second time this year on Tuesday, expecting 50,000 units to ship this year, nearly double its previous projection of 28,000. The bank had already doubled its initial January forecast of 14,000 units.
Morgan Stanley estimated China的 humanoid robot market will reach $2 billion this year and grow to $15 billion by 2030. Annual shipments are forecast to reach 446,000 units by then.该预测仅包括外部销售,，不包括为原型, 预订试验, 或内部使用而生产的产品。
Morgan Stanley estimated China的 humanoid robot market will reach $2 billion this year and grow to $15 billion by 2030. Annual shipments are forecast to reach 446,000 units by then. The forecast includes only external sales, excluding those produced for prototypes, pre-order trials, or internal use.
"商业验证,政策支持,和供应链反馈表明中国将更快采用人形机器人,"摩根士丹利,股票分析师钟盛,在周二的一份报告中表示。
"Commercial verification, policy support, and supply-chain feedback point to faster humanoid adoption in China," Sheng Zhong, equity analyst at Morgan Stanley, said in a note Tuesday.
中国加快了主导行业,的步伐，越来越多的国内制造商竞相扩大生产规模，并在工厂,便利店和餐馆等现实环境中部署机器人。
China has accelerated its push to dominate the industry, with a growing roster of domestic manufacturers racing to scale production and deploy robots in real-world settings such as factories, convenience stores and restaurants.
北京还将开发“体现的人工智能” —嵌入物理系统的人工智能—作为未来五年的优先事项,指导地方政府为初创企业提供土地和办公空间补贴，同时要求银行延长优惠贷款条件。
Beijing has also made developing “embodied AI” — artificial intelligence embedded in physical systems such as robots — a priority for the coming five years, directing local governments to subsidize startups with land and office space while ordering banks to extend favorable lending terms.
投资机会
Investment opportunity
据研究公司 Omdia 称，去年, 全球约有 13,000 个人形机器人,。按出货量,计算，中国公司占据前五名，而美国竞争对手Figure AI排名第七,，特斯拉排名第九。特斯拉首席执行官埃隆·马斯克今年早些时候表示，该公司的 Optimus 人形机器人要到 2027 年底才会开始向公众销售。
Last year, about 13,000 humanoids were shipped worldwide, according to research firm Omdia. Chinese companies dominated the top five positions by shipments, while American rival Figure AI ranked seventh, and Tesla was ninth. Tesla CEO Elon Musk said earlier this year that the company的 Optimus humanoid robot wouldn't start sales to the public until the end of 2027.
Humanoid robotics could become the "next big frontier" for investors eyeing China的 rapid tech development, said Joe Ngai, senior partner and chairman of McKinsey Greater China.
"When you walk outside [in China], you see all these startups and more advanced companies, all these robots dancing — but robotics usage on the industrial side is often a below-the-radar story," Ngai told CNBC的 Elaine Yu on Wednesday on the sidelines of the World Economic Forum的 Annual Meeting in the city of Dalian.
"如果你现在去任何一家中国工厂,，那里部署的自动化和机器人技术'比世界上其他任何地方都多'%," Ngai补充道。
"If you go to any Chinese factory right now, there的 more automation and robotics that的 been deployed than anywhere else in the world," Ngai added.
Morgan Stanley的 supply chain field research also pointed to faster commercialization, citing factory and logistics settings, as well as further rollouts in unmanned retail stores and interactive commercial services.
The bank named Shanghai-listed Leaderdrive as a major beneficiary of the rise in humanoids, raising its 12-month target price to 464 yuan ($68) from 269 yuan.这家总部位于苏州的公司为优必选（Ubtech）和高博特（Galbot）等国内人形机器人制造商供应精密机器人组件。
The bank named Shanghai-listed Leaderdrive as a major beneficiary of the rise in humanoids, raising its 12-month target price to 464 yuan ($68) from 269 yuan. The Suzhou-headquartered company supplies precision robotic components to domestic humanoid makers such as Ubtech and Galbot.