HuaJin Securities: The six-dimensional force sensor market is accelerating its expansion, with both opportunities and challenges for domestic substitution

According to the Zhitong Finance APP, Huajin Securities released a research report stating that the industrialization progress of humanoid robots is in line with expectations, and the demand for complex scene interactions is driving an increase in components. It is recommended to pay attention to the force sensor sector, which has a large demand space and broad domestic substitution potential. It is suggested to focus on the industrialization process, especially the cost reduction curve and existing product breakthroughs, or even force sensor companies that have completed sample submissions: such as Lingyun Ind, Amperex, Hangzhou Colin, Keli, Donghua Testing, Zhongding Co., Ltd., Huapei Power, Suochen Technology, Hanwei Technology, etc. The main points of Huajin Securities are as follows: What is the necessity of six-dimensional force sensors? Motion control capability remains a key area for improvement in current humanoid robots, and six-dimensional force sensors may be the optimal solution for motion control capabilities. Taking walking and running as examples, humanoid robots can use six-dimensional force sensors at the ankle or sole to measure the magnitude and direction distribution of ground forces in real-time, and then transmit the data to the cerebellum. Through control algorithms, the humanoid robot can adjust its body balance and gait to achieve stable walking and obstacle avoidance on uneven or obstructed surfaces. What are the technical barriers of six-dimensional force sensors? Six-dimensional force sensors are suitable for scenarios where the point and direction of force application change randomly, such as in the control of robotic end joints. Strain sensors perform excellently in terms of stability, rigidity, and accuracy, and are currently the mainstream technical route. There are three major technical barriers involving product structure design, production processes, and calibration testing, with the core barrier mainly reflected in the calibration and testing stages: calibration equipment is non-standard and cannot be directly purchased, requiring six-dimensional force sensor manufacturers to develop it themselves; compared to one-dimensional force sensors, the number of sample points required for calibration of six-dimensional force sensors increases exponentially; there is inter-axis coupling between various measurement directions, and eliminating coupling errors is key to affecting accuracy and precision. What is the market space and competitive landscape for six-dimensional force sensors? As the industrialization process of humanoid robots accelerates, it will drive rapid cost reductions in the components industry. The decreasing cost of six-dimensional force sensors will further stimulate the industry to adopt more six-dimensional force sensors, with humanoid robots contributing the main incremental demand for six-dimensional force sensors. According to our estimates, by 2030, the market space for six-dimensional force sensors is expected to reach 14.442 billion yuan, with a CAGR of 49.73%; by 2035, it is expected to reach 27.780 billion yuan, with a CAGR of 30.6%. Currently, the total sales volume of six-dimensional force sensors is still relatively low, and production costs are high, making the demand for cost reduction urgent. Moreover, foreign capital occupies the main high-end market, while domestic brands have begun to make efforts in recent years, gradually narrowing the gap, indicating broad domestic substitution potential. Risk Warning: 1) Risk of humanoid robot industrialization process not meeting expectations; 2) Risk of six-dimensional force sensor localization process not meeting expectations; 3) Risk of intensified competition; 4) Risk of rising prices for raw materials or core components