Development background of China's exoskeleton robot industry and forecast of future market size

An exoskeleton is a human-machine wearable device that combines human and power and installs mechanical energy. It provides force assistance to enhance human walking, movement and heavy load carrying abilities. It can provide medical rehabilitation and sports support for users with insufficient strength, and help users complete tasks such as long-distance marches and load-carrying.

1. Development background of exoskeleton robot industry

1. Increased demand

In recent years, the accelerated aging of the population and the decline in the labor force in my country have stimulated the growth of demand for exoskeleton robots. According to data, the number of people aged 65 and above in my country will increase from 150.03 million to 200.56 million from 2016 to 2022. Among the employees in my country from 2015 to 2019, the number of people in loading and unloading decreased from 604,000 to 602,000, the number of people in the construction industry decreased from 21.64 million to 19.576 million, the number of people in the large-scale equipment manufacturing industry decreased from 10.658 million to 9.396 million, and the number of people in the mining industry decreased from 5.583 million to 3.994 million.

2. Policy support

Undoubtedly, my country's exoskeleton robots are still in the stage of technological iteration and upgrading, but the support of national policies has provided a good environment for exoskeleton robots, and the industry is accelerating its development. Medical rehabilitation exoskeleton robots stand at the cross-field of "rehabilitation equipment", "rehabilitation", "robots", etc., and enjoy multiple benefits.

3. Financing Accelerated

With the expansion and gradual maturity of the downstream market demand for exoskeleton robots in China, the investment and financing market in China's exoskeleton robot industry is also gradually gaining popularity. Exoskeleton robot companies continue to obtain financing to invest in technology research and development, solve problems in human-machine interaction and other aspects of the product, promote the upgrading of industry products, and promote the further development of the industry.

4. Patent Application

China's exoskeleton robots are still in the early stages of development, and the number of patent applications is increasing year by year. According to data, the number of China's exoskeleton robot patent applications increased from 24 in 2014 to 258 in 2021. The number of patent applications decreased to 159 in 2022.

2. Exoskeleton Robot Market Size and Forecast

In terms of market size, China's exoskeleton robots are still in the early stages of expansion, with the market size rising from 3 million yuan in 2016 to 440 million yuan in 2021, up 76% year-on-year from 2020, with a compound annual growth rate of 171.19%. With the improvement of product performance in the exoskeleton robot industry and the growth of downstream medical demand, it is estimated that the market size of China's exoskeleton robots will reach 4.2 billion yuan in 2025.