BERLIN -- China's industrial robot stock reached a record 2,027,000 units in 2024, accounting for more than half of global demand, according to the World Robotics 2025 report released Thursday by the Frankfurt-based International Federation of Robotics (IFR).

Annual installations in China climbed to 295,000 units, up 7 percent from 2023, marking the highest level ever recorded, the report said. Globally, 542,000 industrial robots were installed in 2024, more than double the number a decade ago, and worldwide installations exceeded 500,000 units for the fourth consecutive year.

"China's strategy to modernize its manufacturing base has reached a new milestone in the country's automation push," IFR President Takayuki Ito said. "The robot stock doubled within three years, surpassing 1 million units in 2021 and now counting 2 million units in 2024."

Asia remained the dominant market, accounting for 74 percent of new robot deployments in 2024, compared with 16 percent in Europe and 9 percent in the Americas.

In China, the electrical and electronics sector continued to lead demand with 83,000 units installed in 2024, followed by the automotive industry with 57,200 units. Domestic suppliers also expanded their presence in food processing, textiles and wood products.

For the first time, Chinese robot makers sold more units at home than foreign competitors, with their domestic market share rising to 57 percent in 2024 from 47 percent in 2023, the report noted. IFR's Q1 2025 survey also showed strong double-digit growth in robot orders across Asia, largely driven by China.

Worldwide, the total number of industrial robots in operation reached 4,664,000 units in 2024, a 9 percent increase from the previous year. Ito said that while global macroeconomic conditions may create short-term headwinds, the long-term growth trend remains strong.

The report forecasts that the global robotics industry will maintain robust growth. Worldwide installations are expected to rise 6 percent to 575,000 units in 2025 and to surpass 700,000 units by 2028, with average annual growth around 10 percent until then. China is expected to remain the world's largest market beyond that period.