Doosan Robotics is now ready to penetrate China’s cooperative robot market.
The company announced on Dec. 19 that it has signed an agency contract with Suzhou Linkhou Robot Co., one of China’s largest industrial automation solutions providers.
Under the contract, Suzhou Linkhou Robot, which is affiliated with the Bozhon Group, will sell Doosan’s cooperative robots in the Chinese market.
The deal will allow Doosan Robotics to enter the Chinese market, which accounts for 36.1 percent of the global industrial robot market including cooperative robots. Doosan will focus on Suzhou as it is a center of manufacturing industries, including iron and steel, IT and electronic equipment, and textile products.
Suzhou Linkhou Robot has R&D bases in Silicon Valley and Germany and has carried out automation of Apple's Chinese factories.
Doosan Robotics, which started mass-producing cooperative robots last year, has secured 13 sales networks in eight countries including China and France. It is also increasing its market share by increasing sales agencies in South Korea.
"We hope Suzhou Linkhou Robot’s marketing power, service networks and system integration expertise will help us penetrate the Chinese cooperative robot market," said Lee Byung-seo, president of Doosan Robotics.
According to Loup Ventures, a U.S. venture capital research firm, the global cooperative robot market, which is estimated to be $13.8 billion this year, is expected to grow to $92.1 billion by 2025.