Nowadays, electrical appliances are the easiest, most comfortable, and most timesaving devices. These electrical appliances are the most advanced modern appliances used for daily purposes. Through a combination of these factors, vendors have introduced personal care electrical appliances in the market. Personal care electrical appliances are typically powered by electricity and may include rechargeable batteries for cordless use. They may also have various features and attachments, such as different speed or heat settings, interchangeable heads or blades, and timers or sensors.

The global garden hedge trimmers market is growing at a substantial rate due to the increasing demand for equipment from residential and commercial users. The growth in demand is attributed to the expansion of green acreage and is highly influenced by weather conditions. The demand for hedge trimmers surges during the summer and spring months due to the increased time spent on lawncare activities. Moreover, the growing government efforts for the expansion of green acreage through the construction of parks, lawns, and playgrounds are pushing the demand for hedge trimmers in the market. Also, with the rising interest in gardening and lawn care activities, the demand for landscaping services is growing significantly, thereby pushing the demand for equipment from landscaping service providers.

More than 140 countries are featured in this report as well as global and regional summaries. Estimates on equipment or material sales (product shipments value) are published for six historical years and two forecast years. Product shipments include the total value of all products produced and shipped by all producers. For selected products, this can represent value of receipts, value of production, or value of work done.

Grout is the filling used between two flooring pieces to enhance the aesthetics and prevent the accumulation of dirt between the two flooring pieces. However, due to continuous movement on the flooring, dirt will always accumulate on the grout. As time passes, it can become evident and spoil the floor's aesthetics. It can cause health hazards, such as germs, grease, microbes, bacteria, and dust. These sticky microbes, fungal organisms, and other organic particles can be easily picked up from the ground by anyone moving on them, which can further be transmitted from one person to another, which can be hazardous in cases of deadly microbes. Many facilities are used by several people daily, such as public transportation facilities, hotels, entertainment, and leisure facilities. It becomes mandatory in such places to properly maintain hygiene and cleanliness. Hence, such factors drive the growth of the grout cleaning equipment market during the forecast period.

Advances in technology have led to the development of several tools and machines used across industries. Power tools are exceeding traditional hand tools in professional and domestic divisions to cater to the desire for efficiency. For example, the construction sector is under intense pressure to develop new equipment that decreases human labor. The spike in infrastructure and building markets is contributing to the power tools sector, which will also spur future advances. The rise in manual labor costs, home improvement activities, and DIYs pushed the demand for power tools, such as cordless hammer drills. For example, drilling and demolition equipment is often used in commercial and residential sectors. They are useful resources that reduce the need for arduous manual effort. As a result, their application in the construction industry creates new prospects for innovation in the power tool industry. In 2021, the global power tools market was valued at $1.11 billion.

The global robotic floor scrubber market is gaining momentum due to the rising demand for effectiveness and efficiency by various commercial and industrial users, high labor costs in developed countries, and stringent norms regarding cleanliness and hygiene in various end-user industries. The popular trend of automation, rising dependence on technology to enhance productivity, and development of advanced technologies such as AI and sensors provide significant growth opportunities for vendors in the market.

The agriculture sector plays a vital role in the development of the global economy. The sector contributes to the economic prosperity of developed countries, such as the US, the UK, and Japan. The agricultural revolution preceded the industrial revolution in developed economies. In developing countries, such as India, China, and sub- Saharan Africa, where the per capita income is low, the emphasis is placed on the development of a strong agriculture sector. The contribution of the secondary and tertiary sectors to the GDP of economies is always high. However, to sustain economic growth, a significant contribution must also come from the primary sector of the economy, i.e., agriculture. The growth of these sectors is not supplementary but complementary.

Body contouring is a medical aesthetic treatment aimed to improve physical appearance. It consists of beauty treatments and plastic surgery. Body contouring treatments are not aggressive as they are minimally invasive. It requires high skills, knowledge, and human anatomy and physiology training.

Paint sprayers are devices that help in painting surfaces evenly with paint or similar liquids. They can be used for painting several surfaces, such as wood, metal, brick, and many more. The demand for paint sprayers is driven by the automobile, manufacturing, construction, and marine industries. In addition, the rising trend of DIY projects is anticipated to drive the paint sprayer market. The market is segmented into product, power source, applicator type, and end-user.

While hair removal has been a primary practice among women for decades, women seek hair removal products that are smooth to skin, less painful, more time-efficient, and portable. According to Bombay Shaving Company, at least 40% women in the age group of 18 to 25 years prefer razors as the first mode of hair removal. Till the outbreak of COVID-19 pandemic, 10–15% women in the age group of 25–35 prefered razors.

4 月中信机械板块下跌3.5%，跑输沪深300 4.12 个百分点，排名第17 名：截止到4 月25 日收盘，4 月中信机械板块下跌3.5%，跑输沪深300 指数 4.12 个百分点，在30 个中信一级行业中排名第17 名。中信机械三级子行业中，4 月3C 设备、铁路设备、船舶制造表现居前，分别上涨37.63%、9.66%、6.97%。3月光伏装机继续大幅增长。风电装机量开始出现高速增长，扭转了连续几年低迷的情况。工业机器人产量开始回升，金属机床需求也同步反应，表明工业自动化需求边际向好，行业有底部反弹趋势。3月新能源汽车销量和动力电池装机增速有一定下滑。

一带一路/中特估：上周重点提示，周度显著领涨，再度强调：why now？包含三点原因：1）短期滞涨，一带一路指数PB 仍然在0.8-2X 之间的估值水平；2）3 月份出口数据呈现一带一路强劲局面，一带一路的工程机械/石油炼化等市场空间对我国本土空间形成了较好的扩充；3）五月份中国+中亚五国元首峰会，以及第三届一带一路峰会为重要催化时点。核心标的：铁建重工（建议关注），卓然股份（与能源开采团队联合覆盖），中密控股，三一重工，中联重科，徐工机械，柳工（建议关注）等。

2023 年3 月挖机行业销量25578 台，同比下降31%，略好于此前CME33% 的预测降幅。其中，国内销量13899 台，同比下降48%，低于预期降幅 44%；出口11679 台，同比增长11%，好于-5%预期值。受下游项目资金面 紧张，开工小时复苏放缓影响，3 月工程机械内销下滑幅度仍较大。整个 一季度看，2023 年Q1 行业挖机总销量57471 台，同比下滑26%；其中国 内28828 台，同比下降44%，出口28643 台，同比增长13%。从上游排产 数据看，4 月工程机械核心零部件排产延续复苏态势，未来需求复苏较为 乐观。从地产、基建数据看， 2023 年1-2 月商品房销售面积同比下滑4%， 房屋新开工面积累计下滑9%，降幅收窄，1-2 月基建投资完成额1.4 万亿 元，同比+12%，延续提升态势。随着二季度行业基数自然回落，我们判断 全年行业增速前低后高，下半年行业单月有望恢复正增长。

根据中国汽车动力电池产业创新联盟数据，2023 年3 月中国动力电池装机量27.8GWh（+29.7%），环比增长26.7%；2023 年1-3 月累计装机量65.9GWh（+28.4%）。中国动力电池装机量与中国新能源汽车产销量高度相关，步调基本一致。由于去年末补贴退出前集中抢购透支需求，开年后新能源汽车销售骤冷，这是可以预见的。春节后新能源汽车销量爬坡中，带动三月装机量同比环比均实现大幅增长，但是如果对比往年同期，前两年三月装机量基本可以恢复至上年高位，而今年三月装机量仅为上年四季度月均装机量82%，反映今年新能源汽车销量复苏节奏慢，考虑主要是近期汽车价格战扰乱车市所致。

本期，绿色金融动态中有四项值得重点关注：其一，4 月12 日，国家能源局发布《2023 年能源工作指导意见》，明确要坚持把能源保供稳价放在首位，同时坚持积极稳妥推进绿色低碳转型的基本原则，2023 年全年风光新增装机160GW，新增装机规模为历史新高；风光发电量占全社会用电量的比重达到15.3%，较2022 年提高3.1pct。其二，4 月18 日，欧洲议会以多数票通过了碳边界调整机制（碳关税）等3 项主要气候法案，旨在帮助欧盟到2030 年实现二氧化碳排放量比1990 年减少55%，并到2050 年实现碳中和。其三，4月21 日，国家标准委等11 部门发布《碳达峰碳中和标准体系建设指南》，覆盖能源、工业等重点行业和领域碳达峰碳中和工作。其四，4 月23 日，国家能源局发布1-3 月份全国电力工业统计数据。截至3 月底，全国累计发电装机容量约26.2 亿千瓦，同比增长9.1%。

和A 股企业相比，海外家电龙头的分红率波动较高。且海外家电的股利支付率存在超出100%或为负数的情况，即分配历史未分配利润及在亏损时仍进行分红的情况。对比国内外家电企业目前的股息率，我们所选取的四家海外家电龙头平均股息率水平目前为3.7%，而国内家电龙头股息率均值目前为4.0%，略高于海外家电企业。因此我们认为，从股息率角度来看，我国家电企业的估值修复弹性要略高于海外家电企业。

固态电池是采用固态电解质的锂离子电池，固态电解质和液体电解质一样承担着在正负极之间传输锂离子的作用，传输机制有所不同。通过引入不可燃的固态电解质，可以本质上保证安全性，同时兼容高能量密度正负极，可以满足快充、循环寿命长、高温性能好的要求。从技术路线来看，将从固液混合电池渐进式到全固态电池，固态电解质中，硫化物全固态潜力较大，固液混合电池采用氧化物与聚合物复合电解质，已有量产。

胶膜环节在2022- 2023 年扩产迅猛且不乏新进入者入场，导致市场对后续其竞争加剧存在担心。我们认为2024 年在粒子紧张背景下，胶膜环节的盈利水平有望优于预期。

电机是一种利用电与磁相互作用从而实现能量转换与传递的机械电磁装置。电动机从电系统吸收电能，向机械系统输出机械能，各类型的电机广泛应用于我国经济生产各部门以及家用电器中，主要作为驱动各种机械设备的动力。电机可以主要分为动力电机和控制电机。有刷直流电机具备扭力高、结构简单容易维护（即换碳刷）、便宜的优点，交流电机中的永磁同步电机和永磁异步电机是常用的汽车搭载电机。永磁同步电机指的是定子上的线圈通电后产生的磁场能带动永磁体（转子）进行同步旋转，转子的转速也能够与旋转磁场的转速相同，不容易造成转速损耗。优点是体积小，效率高，但是一旦速度增加，永磁体产生反电势，导致高温，强震动就容易退磁。因此不适合在高速下使用。控制电机又可以分为伺服电机、步进电机和信号电机等。

4 月19 日，PVInfoLink 发布最新光伏供应链现货价格，硅料价格维持缓慢下跌态势，与下游价格拉锯博弈明显。近期硅料价格持续下跌，致密块料主流价格范围跌至每公斤180 元-192 元区间，均价降至每公斤189元水平，主流硅料企业价格均呈现更加明显的降幅，另外颗粒料与块料之间的价差保持承接更大压力。整体来看，由于买方各家的实际需求纯度、体量、时长等因素有所不同，用料需求各有差异，显现出在硅料价格下行的长坡过程中，阶段性购料成本或出现价差，但是不影响整体价格向下走势。目前买方的买涨不买跌情绪较为浓重，行业预测下半年硅料或面临产能过剩情况导致的硅料价格下跌会引发恐跌情绪，可能导致硅料销售短期内难度有所提升。