SERVICE robots are expected to become a new growth engine for transactions at the 138th China Import and Export Fair, underscoring China’s innovation strength and bolstering efforts to help service robot companies seize opportunities to expand into international markets, according to the event’s organizers. The event, popularly known as the Canton Fair and widely seen as a barometer of China’s foreign trade, kicked off its latest session yesterday in Guangzhou. The fair is held twice a year in spring and autumn. Transactions in the service robotics industry have exceeded expectations since April after a dedicated service robotics zone was established for the first time during the fair’s 137th session, with 46 Chinese robotics companies demonstrating prowess in the sector, the organizers said. “With continued efforts from both suppliers and buyers during and after the previous session, it is expected that the impact of the zone will be even more significant at the current session,” said Zhu Yong, director-general of China Foreign Trade Center. As of September, 22 Chinese companies in the service robotics industry have reached orders amounting to US$19.27 million after the previous session of the fair, while 37 companies have been busy in negotiations with clients for orders totaling US$28.57 million, according to the fair’s organizers. Due to longer negotiation cycles for new products, additional orders are expected to follow in the coming months, the organizers said. According to an analysis by research firm Precedence Research, the global market size for service robots reached US$54.5 billion in 2024, with an expected average annual growth rate of 15% over the next decade. “By leveraging its unique advantages in organizing specialized exhibitions, the fair will help service robot companies seize opportunities to expand into international markets,” said Zhu. More than 207,000 buyers from 217 export markets have pre-registered for the fair, reflecting a 14.1% increase from the previous session. As more buyers recognize the vast potential of the service robot market, they have accelerated their business plans and expanded procurements for the fair. Transactions registered since the previous session have helped draw more Chinese companies in the service robotics industry to participate in the fair’s current session. The service robotics zone at the fair features 46 industry-leading companies to showcase intelligent products such as embodied robots and robotic dogs. (China Daily) | 