能源装备总述：当前经济环境下的投资机会-长江证券VIP免费

能源装备总述-当前经济环境下的投资机会长江证券研究所机械研究小组赵智勇，S04905171100012022-06-0401为什么看好能源装备02传统能源：盈利周期，政策催化目 录03新能源：能源结构优化，景气持续•证券研究报告 •评级看好维持01为什么看好能源装备机械行业需求驱动因素01资料来源：长江证券研究所工程机械电梯油服装备轨交装备专用设备通用设备锂电设备光伏设备风电设备地产基建油气开采工控工业机器人激光设备机床机械政策推动逆周期制造业资本开支相关特定下游，跟踪下游景气度铁路&地铁地产地产&基建下游分散，与整体景气度相关半导体设备注塑设备刀具煤炭开采煤炭设备核电批复核电设备能源装备从景气角度，优选能源装备01资料来源：MIR，长江证券研究所单位：百万元2020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q1OEM市场合计-4.0%14.9%12.1%16.2%53.4%28.1%21.2%11.5%4.5%电池16.1%25.3%23.2%27.1%83.1%42.8%42.0%25.0%20.0%半导体18.4%31.1%22.8%21.7%62.0%41.0%39.4%22.0%17.0%工业机器人-14.2%26.4%26.9%30.9%108.2%53.0%38.1%20.0%16.0%纺织-34.4%-6.1%5.1%8.2%100.9%39.4%1.4%15.0%16.0%包装-9.1%16.1%12.9%11.2%95.1%39.8%35.4%11.0%15.0%电梯-26.5%15.2%9.1%12.6%50.1%14.0%14.1%5.5%10.0%塑料-19.4%-3.1%4.1%7.0%35.9%13.0%11.0%0.0%8.2%制药-16.9%25.1%22.8%28.7%43.8%8.2%7.1%8.0%8.2%物流14.1%27.4%20.5%25.1%38.0%35.0%23.0%5.0%8.0%橡胶-13.1%-17.2%2.1%3.1%38.0%12.0%8.1%0.0%5.1%其他30.1%13.1%-6.2%6.1%35.8%18.0%45.5%27.9%4.1%纸巾16.1%18.9%12.5%23.3%37.2%18.0%11.9%7.0%3.0%暖通空调17.2%21.3%19.3%15.2%18.0%15.0%12.0%-2.0%-3.0%起重-14.2%13.1%12.1%17.3%25.1%18.0%14.4%6.0%-3.0%机床-24.6%17.2%15.0%21.6%61.0%30.6%17.8%4.5%-8.0%建材2.4%12.9%10.3%8.7%38.4%12.3%8.3%-15.0%-8.2%工程机械-12.5%46.6%31.8%47.9%83.3%6.0%-15.0%-12.1%-10.0%项目型市场合计-19.0%-0.2%4.5%-1.6%34.0%7.2%1.5%3.4%9.7%采矿3.0%-5.6%5.6%-7.7%5.9%8.0%2.0%6.0%20.3%石化-8.9%9.7%8.6%13.1%27.0%13.2%2.0%6.0%15.3%造纸-14.4%-2.5%-5.7%6.8%16.1%16.3%6.0%7.0%14.1%化工-30.3%-3.6%1.5%10.0%48.0%17.1%2.8%5.0%11.6%市政及公共设施-10.6%20.5%19.5%18.7%19.0%-9.9%-8.0%-4.0%10.0%电力-24.6%-22.1%-24.4%-33.9%31.0%-4.5%-1.6%8.0%9.5%汽车-36.5%-5.6%-15.0%4.6%-3.0%-1.0%-10.0%4.0%9.1%冶金-15.3%17.9%32.5%20.0%47.0%...