As one of the indispensable and important basic components of industrial power transmission, reducers are widely used in environmental protection, construction, electric power, chemical, food, logistics, plastics, rubber, mining, metallurgy, petroleum, cement, shipbuilding, water conservancy and other industries.
In terms of reducer supply, Chinese reducer production grew steadily in 2020, with an output of 9.17 million units, an increase of 7.6% year-on-year. In 2021, Chinese reducer output is expected to exceed 10 million units. The export supply of reducer increased.
In terms of market demand for reducers, the industrial robot industry has broad development prospects, driving the expansion of demand for reducers, and promoting the growth of the reducer industry market scale. Since 2017, the market size of Chinese reducer industry exceeded 100 billion RMB, and it reached 119.8 billion RMB in 2020.
