CITIC Securities says Tesla and other leading humanoid-robot makers extensively
use bearings and universal joints in robot joints and dexterous hands; high
per-unit fitment implies a sizable addressable market. Robot bearing operating
conditions differ materially from traditional applications; Chinese
manufacturers, leveraging faster customization and response, are gaining share
and may overtake overseas leaders in this niche. The robot industry should drive
significant incremental demand for the bearings sector, with domestic suppliers
still in early growth. Recommended focus: universal joints, crossed-roller
bearings, four-point-contact bearings, angular-contact bearings and deep-groove
ball bearings.
