Goldman Sachs has sharply raised its global humanoid robot market outlook. As embodied AI technology continues to evolve, the firm believes humanoid robots are rapidly transitioning from the prototyping stage to large-scale prototype manufacturing and commercial production.

According to a recent Goldman Sachs report, the institution projects global humanoid robot sales will reach 6.48 million units by 2035. This figure represents an approximately 4.7-fold increase compared to the previous forecast of 1.38 million units. During the same period, the market size projection has also been significantly upgraded to roughly $138 billion, up from approximately $38 billion, reflecting a gain of about 3.6 times.

Goldman Sachs attributes the major upward revision primarily to advancements in embodied AI and expanded production capacity. As AI progress accelerates robot development timelines, leading companies are shifting from small-scale prototype manufacturing to mass prototype production and commercial deployment.

The firm specifically highlights that the automotive industry will be one of the primary sectors propelling humanoid robot market expansion. Automakers possess large-scale manufacturing capabilities for complex products and global supply chains, positioning them both as early adopters of humanoid robots and as potential major players in their scaled production.

The report also examines the technical synergies between automotive component supply chains and robot parts. With the transition to electrification reducing demand for traditional internal combustion engine components, auto parts suppliers' expertise in motors and machining technologies can be applied to core humanoid robot components such as actuators and reducers. The report lists Toyota, JTEKT, Harmonic Drive, and Renesas Electronics as key companies in this space.

Declining humanoid robot prices will also support market growth. Goldman Sachs forecasts an average selling price (ASP) of approximately $21,000 for humanoid robots by 2035. As production volumes scale up and component costs drop, product price competitiveness is expected to improve, reaching a level where investment costs can be recovered in industrial applications.