"While China's intention to develop localized high-end manufacturing is clear, full-blown import substitution won't happen, at least not yet. Japan and Europe still enjoy a big technological advantage overall.
Mean time between failure, a performance measure of industrial equipment, is usually two to 10 times longer among leading foreign brands, according to Bernstein.
That means manufacturers, which have to compete in the global market, may not opt for Chinese suppliers. The U.S. also doesn't also have a chokehold on critical technology, unlike in semiconductors, so geopolitical tensions are less threatening.
But there are pockets where Chinese domestic companies have managed to narrow the technological gap -- like in servo motors, according to Bernstein. Inovance won market share from rivals such as Panasonic and Yaskawa due to Covid-19, and new customers may stick around if they don't notice a quality gap. Even in fields where Chinese companies may not be able to catch up, consolidating market share from local rivals could still help drive growth.
It may take a while before Chinese robotics companies catch up with foreign rivals in the market as a whole -- but overseas robots in China should still be watching their backs." [1]
1. Robot Battle Still Favors Japan, Europe -- for Now
Wong, Jacky. Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]20 Jan 2021: B.12.
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