Oddly enough, I’d say there are more chokepoint plays for robotics outside of NA.
(Which ironically makes NA more concentrated/a better bottleneck)
For Europe...
Schaeffler (ETR: $SHA) is probably the cleanest. Precision bearings are in every humanoid joint, and they're already positioned for scaling.
SKF (STO: $SKF-B) is the other bearigs giant, similar but more diversified into auto/wind.
Kistler is the Swiss $VPG equivalent but private.
For Asia…
Harmonic Drive Systems (TYO: 6324) is closer to a true bottleneck than any European name. Harmonic reduction gears are the HBM-equivalent for humanoids... every joint needs them, and only 2-3 real global suppliers exist.
LeaderDrive (SHA: 688017) is the Chinese competitor if you want China exposure.
I personally prefer North American names. Feels more secure… definitely biased lol.
Happy to dig deeper into foreign tickers and find asymmetric picks there as well, if you guys would like?