Deep research report: right shift speed layout industrial control frequency conversion

by:V&T Technologies     2020-03-07
Industrial control frequency conversion is enjoying transformative development opportunities and plate near valuations performance improvement and repair time: in 2014 the reform policies in the top-level design has been completed, 2015 are expected to usher in domestic intensive push reform policy & other; Shift & throughout; MSC year to frequency conversion for led intelligent control in manufacturing is enjoying triple positive: 1) The upstream raw material costs continue to drop; 2) The downstream market demand picked up; 3) Ministry of industry and the upcoming intelligent manufacturing special operation. In the low carbon economy, industrial upgrading and the disappearance of the demographic dividend is driven by long-term in the next six years of intelligent manufacturing equipment industry compound annual growth rate is expected to reach 30%. Over the next three years billions of frequency conversion market space: low voltage/high voltage inverter in the next three years the average annual compound growth rate of market is expected to be above 10% / 15%, nearly 300/110 the size of the market one hundred million yuan in 2017, three years of market space of billions. Downstream demand will promote the steady rise of low market, including elevator/wind inverter market average growth is expected to remain above 20% / 10%, at the same time the rapid development of contract energy management business is expected to boost high voltage frequency conversion to realize epitaxial growth. 4 servo system leading industry. 0: servo system is the core of the industrial robot. 08 years of the Chinese industrial robot market geometric growth, is a long-term cost factors and the embodiment of the short-term policy catalytic effects, the disappearance of demographic dividend, and the improvement of the ecological industry is accelerating industrial robots permeability of ascension. In the next 6 years domestic industrial robot market is expected to maintain more than 20% of the compound annual growth, growing almost three times as much as 6 years, the corresponding market size of 300 billion. Industrial control frequency conversion of competition into the warring states period: technical brand, provide the solution ability will become the key of market competition. Overall competition trend of the industry will be: 1) To further improve concentration; 2) Derived from products to service industry; 3) Networked direction penetration. The frequency converter with high performance, professional orientation to speed up the import substitution, servo system is expected to take the technology as a breakthrough, conveniently extend downstream to the field of industrial robot. Investment advice: choose & other; Green, abundant & throughout; Company: the so-called & other; Green & throughout; : variable frequency energy saving as the starting point, high share of main business city, industry concentration degree is high, the gross margin level is high, the so-called & other; Abundant & throughout; Namely: all business chain industrial automation of the whole layout, innovative technology, flexible business and capital operation. We suggest that investors hold & other; 3 from the industry. 4 0 to industry. 0, from a single device to the overall scheme, from the variable frequency servo to industrial robot & throughout; The total investment in the main line. Suggested that positive attention to possess the core technology and the wide downstream extension of endogenous company: high quality target, such as the control core frequency conversion + inovance technology, servo technology, when the British witten, new frequency conversion, according to the variable frequency drive control the homology of power electronic technology, the future related businesses to conveniently mergers and acquisitions in the field of industrial robot extends, to focus on; At the same time advice to focus on domestic robots in a leading position in the field of robot. Risk tip: 1) The risk of macroeconomic growth falling further; 2) Domestic enterprises technological breakthroughs than expected risk; 3) The risk of foreign brand localization process to speed up.
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