SMid Cap Industrials: Robotics Webinar Takeaways: Humanoids, AI and the Next Investment Inflection

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SMid Cap Industrials: Robotics Webinar Takeaways: Humanoids, AI and the Next Investment Inflection

J P M O R G A N North America Equity Research

15 July 2026

SMid Cap Industrials

Robotics Webinar Takeaways: Humanoids, AI and the

Next Investment Inflection

We hosted an update on the robotics and humanoid industry webinar (see the replay North America Small and Mid Cap

here) with Karen Li (Asia/China coverage) and Sonny Lee (Korea), reinforcing Industrials

that robotics is shifting from pilots toward commercial deployment. Karen Tomohiko Sano AC

forecasts ~1.75M global humanoid unit shipments by 2030 (~150% CAGR, (1-212) 622-1099

China-led), noting hardware advances quickly while AI intelligence remains the tomohiko.sano@jpmorgan.com

bottleneck. Sonny reaffirmed Hyundai's 30k-unit 2028 target and a structural J.P. Morgan Securities LLC

preference for OEMs over actuator suppliers. Discussion around competition is Ethan Coyle

intensifying globally with no single winner yet, and Asia currently leads in supply (1-212) 270-0613

ethan.coyle@jpmchase.com

chain with the actuation "guts." In the U.S., we see a production landscape of J.P. Morgan Securities LLC

~300k-unit/+$10bn BOM TAM by 2030, with actuation/motion control offering Brendan Shea, CFA

growth to TKR, RRX, and ALNT as strong domestic suppliers, in our view. (1-212) 622-0770

brendan.shea@jpmorgan.com

• The Structural Narrative: From Pilots to Infrastructure: Robotics is J.P. Morgan Securities LLC

shifting from pilot-stage technology toward large-scale deployment and Infrastructure, Industrials &

essential manufacturing infrastructure, targeting the three constraints that we Transport

view as mattering the most to manufacturers: throughput, quality, and labor. Karen Li, CFA