[Click eStock] "SBV Tech to Accelerate Reducer Growth in 2026"

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On April 16, NH Investment & Securities assessed that SBV Tech is accelerating its transformation from a simple parts supplier into a core robot drive module company.

SBV Tech is a leading domestic precision reducer company that succeeded in localizing the harmonic reducer in 2013. Harmonic reducers, which enable more precise control compared to cycloidal reducers primarily used in industrial robots, are products with high manufacturing difficulty. As demand for localization grows alongside the expansion of the robotics industry, the company has completed preparations for mass production and is now entering a phase of substantial supply expansion.

Baek Joonki, a researcher at NH Investment & Securities, explained, "With the growth of the robotics industry, demand for localization is increasing, and the company has entered a full-fledged supply expansion phase thanks to its readiness for mass production."

The business structure is also evolving rapidly. The key point is that SBV Tech is expanding beyond supplying standalone reducers, moving into actuator-based drive module business by integrating reducers, motors, and controllers, as well as entering the planetary gear sector. Recently, the company has started pilot production of the DnL (Drive & Lift) module’s steering eccentric part within a small mobility platform for a global automotive group.

Researcher Baek emphasized, "It is significant that the company is expanding its business to actuator-based drive modules, which integrate reducers, motors, and controllers, as well as into planetary gears, beyond just providing standalone reducers." He added, "This repositioning from a simple parts supplier to a supplier of core robot joint modules is expected to increase the ASP and enhance customer retention."

SBV Tech is also achieving results in the defense sector. The company has secured harmonic reducer supply references for the K9 self-propelled howitzer and is simultaneously carrying out four projects for domestic defense clients. Although the volume is more limited compared to the automotive sector, the characteristics of a business based on long-term supply contracts are expected to reduce performance volatility.

Researcher Baek explained, "Although the volume is limited compared to automotive, this sector is based on long-term supply contracts, which will help mitigate performance volatility."

From a performance perspective, 2026 is expected to be a key inflection point. While sales will remain centered on bearings in 2025, sales of reducers are expected to expand in earnest starting in 2026. Accordingly, operating profit is also projected to improve year-on-year.

Researcher Baek stated, "With mass production tracks becoming visible in mobility platforms, collaborative robots, and defense projects, the company is expected to enter a phase of sales growth accompanied by improved profitability."

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