人形机器人行业深度报告：具身智能理想载体，奇点渐至未来可期

TL;DR - This industry report argues humanoid robots crossed into scaled production in 2025, with global shipments reaching roughly 14,800 units. Hardware is increasingly deployment-ready, but model generalization and scarce high-quality embodied data remain key commercialization bottlenecks.

• China’s top six vendors reportedly accounted for 87.87% of global humanoid-robot shipments in 2025.
• VLA models still struggle with generalization, while more capable world models remain early-stage.
• Near-term deployments favor structured industrial and vertical scenarios rather than unstructured home services.
• Electric actuators are becoming the dominant motion architecture, while dexterous hands, electronic skin, and thermal management remain unsettled.