高盛：中国科技研究：2025年一季度机器人与自动化行业格局分析报告（英文版）

Post MR's estimated sales data (vs. production data reported by the NBS) as well asour coverage companies' business segment disclosures, we compile our latestlandscape analyzer in this report.Total industrial automation market was +2% yoy in 1025 with theproject/OEM markets +2%/+3% yoy, respectively. For full year 2025E, welower GSe on lA market growth from flat to -4% yoy considering thepotential negative impact on capex spending due to ongoing tariffuncertainties (report link). 4024