The overall consumption of metalworking fluids is anticipated to grow at a CAGR of 3.15% in terms of volume during 2016-2020. This is attributable to the growth in the manufacturing sector during the forecast period. However, the market growth will be hampered because of the changes in manufacturing technology and longer lasting products. The off-shoring of production from the US has decelerated and may reverse.This factor is most likely to increase the consumption rates in North America and also dampen it in APAC.

The market is witnessing a trend wherein many large manufacturers,particularly of automotive components, are moving toward low-costmanufacturing havens such as China, India, and Thailand. Government initiatives like the Make in India will provide the thrust to the manufacturing sector in India and thus, manufacturing in the overall APAC region. Thailand’s ascendancy as an automotive manufacturer and the emergence of Indonesia as another manufacturing hub in the region will drive growth in the metal cutting machine tools market; thus, APAC will emerge as the leading market for metal cutting machine tools.

Laundry dryers are primarily used for the removal of moisture from clothes or other textiles. Overall, laundry drying devices consist of finishing tunnels, drying racks, clotheslines, and cabinets used for outdoor or indoor drying.

The oil and gas industry is driving the industrial user segment of the global microturbine market. The segment holds the largest market share and is expected to retain its dominance during the forecast period. Stringent regulations imposed by governments across the world with regard to the adoption of microturbines are likely to drive their use in other industries in the long-term future. The use of flaregas on rigs is another strong factor that is driving the use of microturbines in the oil and gas industry.The need to curb greenhouse gas (GHG) emissions has been a driving force for the adoption of microturbines. During COP21 summit in France in 2015, countriescommitted to bring down the emissions over a period. Most of the countries will be looking for a cost-effective and easily available fuel in the market. The ability of microturbines to work with natural gas and biogas fits the criteria. As a result, the market is expected to grow rapidly during the forecast period.

工程机械重点关注柳工、三一重工及恒立液压。2016 年 9 月以来，挖掘机销量增速已连续 4 个月超过 70%，并有加速之势；并且呈现行业集中的趋势，三一挖机增速更是一度超过 100%，市场占有 率稳步提升至 21%。随着我国基建及 PPP 项目加速落地，挖掘机的景气度将在 2017 年上半年持续，并有望传导至其他工程机械设备。此外，经过 2011 年以来的持续调整，我国工程机械行业去库存过程已经基本结束、去产能也取得显著效果。我们判断，2017 年上半年，以挖掘机为代表的工程机械产销数据将持续超预期，建议关注整机厂商柳工、三一重工，以及核心零部件供应商恒立液压。