From the Japanese double giant look precision reducer development path

Precision reducer manufacturers pay attention to the downstream market diversification. As the world’s mainstream harmonic reducer manufacturer, Hamanaco is different from domestic harmonic reducer enterprises in that industrial robot-related income accounts for a relatively low proportion of about 60% in downstream revenue. In addition, Hamenaco harmonic reducer also involved in semiconductor equipment, machine tools, flat panel display equipment, motor, optical equipment and other downstream fields. RV reducer giant Nabosk is not limited to RV reducer business. According to the disclosure of 2021 annual report, Nabosk is currently involved in 8 major segments, among which RV reducer business accounts for about 60% of the global market share. The local market share in railway vehicle door operating system, flight control drive system, commercial vehicle wedge chamber, construction automatic doors and other fields are all more than 50%, so the RV reducer business at the revenue end only accounts for 26.5% of the total revenue of Nabosk.

General reducer manufacturers large scale, precision transmission players “small and beautiful”. The scale gap between the leading enterprises in the field of precision reducer and overseas general reducer leaders is large, which is mainly due to the wide difference in the downstream application scenarios of general reducer and precision reducer. The annual revenue of universal reducer leading SEW reached more than 25 billion yuan in 2019, while the annual revenue of harmonic reducer leading enterprise Hamanaco in 2021 was only about 3.8 billion yuan.

With the development of downstream small and medium-sized robots and the release of decentralized drive demand in the field of automation, the reducer, motor, controller and other components modular and integrated electromechanical drive products gradually dominated the development trend of new categories of reducer enterprises. Hamagnaco pioneered the concept of “integral motion control”, providing high value-added modular drive products that integrate speed reducers, motors and sensors. Now it has formed two major business segments of harmonic speed reducers and electromechanical integration. This trend has also caused the domestic green harmonic and other precision reducer enterprise imitation. Compared with the simple reducer business, mechatronics business occupies more profit segments such as motors and frequency converters, which can better improve the overall volume and profitability of enterprises.

To build a global service and production network with wide coverage and high management level is the common development strategy of the major reducer manufacturers. Hamenaco has 11 subsidiaries worldwide and maintains the quality of its services by establishing local branches and offices. To provide customers with a full range of pre-sale, during and after service, can effectively improve customer stickiness. Training dealers can improve their service quality, customer reputation and customer acquisition ability. The management level of dealers will also affect the business cycle of the company, which in turn affects the quality of revenue. Nabosk actively expands production capacity and is close to downstream demand. In addition to Japan, Nabosk also has a factory in Changzhou, China, which is conducive to the localization of technical services and enhance customer stickability. According to Nabosk disclosure, the total global capacity is expected to increase to 1.06 million units in 2022.

Nabotsk is a typical case of acquisition and merger strategy adopted in the reducer industry. Nabock Corporation was founded in 1925, the main production and sale of railway vehicles for air brake equipment and hydraulic equipment; Emperor Aviation Industry as early as 1985 began to carry out RV reducer technology research and development. Nippon Airways and Nabok merged into Nabosk in 2003. At the beginning of the merger, both parties combined and upgraded the previously mastered liquid and gas control technology, cutting and assembly technology. Diren also upgraded and improved its RV reducer products with Nabock’s accumulated experience and technology in the field of hydraulic equipment. After its establishment, Nabosk carried out large-scale business suspension and reorganization, laying the foundation for its subsequent industrial development and overseas expansion. After a period of run-in, Nabosk will high profit level, broad prospects for development, high technical barriers of RV reducer, vehicle equipment and automatic door business positioning as the company’s future core direction of development, at the same time to terminate IT and motorcycle parts and other core technology competitiveness relationship is smaller, and the profitability of many businesses. Since 2004, Nabosk has acquired and acquired 9 companies successively. Through the acquisition of mature business lines, Nabosk has achieved rapid development in railway rolling stock equipment, commercial vehicle gate room, automatic door and hydraulic equipment and other industries.