This data equals output data for the following ISIC Rev. 4 code: 2821 Manufacture of Agricultural and Forestry Machinery This class includes: Manufacture of tractors used in agriculture and forestry Manufacture of walking (pedestrian-controlled) tractors Manufacture of mowers, including lawnmowers Manufacture of agricultural self-loading or self-unloading trailers or semi-trailers Manufacture of agricultural machinery for soil preparation, planting or fertilizing: Ploughs, manure spreaders, seeders, harrows etc. Manufacture of harvesting or threshing machinery

Manufacture of domestic electric appliances: Refrigerators Freezers Dishwashers Washing and drying machines Vacuum cleaners Floor polishers Waste disposers

The dynamic garden & yard maintenance equipment industry witnessed a paradigm shift over the years in terms of global trends and challenges. The garden & yard maintenance industry constantly evolves with environmental factors. It is also externally shaped based on the equipment and technology available. The market can witness further traction supported by stringent protocols and corporate policies and considerable upgrades in business models and operation techniques. Accordingly, outdoor power equipment are an integral component of the garden & yard maintenance equipment industry. The global outdoor power equipment market is expected to grow at a CAGR of 5.36% during the forecast period. The demand for landscaping services is on the rise with the rise in interest in gardening and lawn care activities, thereby pushing the demand for outdoor power equipment from landscaping service providers.

Expert Opinion helped us to explore specific quantitative information related to market scenario of Global demolition equipment industry specific to regional markets. We have approached the industry experts and key decision makers in both developing and developed markets. Great amount of actionable insights have also been gathered from industry suppliers.

Growing interest in other appliances produced in the industrials industry are expected to drive the market. Industry - Industrials The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for other appliances by geography and historical trend. The scope of the report extends to sizing of the other appliances market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

The market study aims at estimating the market size and the growth potential of this market. Topics analyzed within the report include a detailed breakdown of the global markets for ac drives by geography and historical trend. The scope of the report extends to sizing of the ac drives market and global market trends with market data for 2021 as the base year, 2022 and 2022 as the estimate years and forecast for 2024 with projection of CAGR from 2024 to 2029.

内销需求持续改善，外销景气度回升。（1）内销：疫情后国内消费复苏，白电产品必需性强，需求较好，其中空调表现靓丽。统计局数据显示2023 年1-5 月家电及音像器材零售额为3133 亿元，同比-0.2%，4-5 月累计零售额同比+2.5%，环比23Q1 增速改善4.2pct。（2）出口：低基数+去库存结束，23Q2 开始出口景气度回升。据海关总署出口统计数据显示，2023 年家电1-5 月累计出口额362 亿美元，同比-1.8%，4-5 月累计出口金额同比+1.8%，环比23Q1 增速改善6.2pct，海外需求改善显著。

投资建议：1）短期优先看好竞争格局稳定，有望直接/间接受益国内下游资本开支提升+政策扶持的消费类设备；2）中长期持续看 好具备海外竞争力，从进口替代——供应全球——渗透国内的出口链企业；3）重点推荐具备业务拓展能力，积极开辟第二曲线转型 升级成长型公司。

5 月新能源汽车销量71.7 万辆，环增13%，略超市场预期。中汽协口 径，5 月新能源汽车销量71.7 万辆，同环比+60%/+13%，渗透率30%， 同环比+6.1/0.6pct。2023 年1-5 月累计销量293.9 万辆，同比增长47.3%， 累计渗透率为27.7%；5 月电动车产量为71.3 万辆，同环比+53%/+11%， 2023 年1-5 月累计产量为300.5 万辆，同比+45.1%。

当前，大量新能源发电电源接入电网系统，其间歇性和波动性破坏了电网“源随荷动”的平衡，传统电网系统难以应对新能源发电带来的负荷压力，新能源电力消纳成为电网稳定运营的首要难题。储能系统具备的充放电双向性，能够有效解决新能源消纳问题。当新能源发电量超过电力系统能够承载的上限时，储能系统能够及时存储过剩电量；而当新能源发电量因为天气等原因低于电力系统能够承载的下限时，储能系统能够及时释放存储的电能，从而提升新能源发电电源接入电力系统的稳定性。具体地而言，储能技术可根据电力系统的需求，在电源侧、电网侧、配电侧和用电侧进行灵活的部署，在各个环节都具有明显的应用效果。当前，中国、美国、欧洲为主要储能装机增量市场。2022年全球新型储能装机规模超20.4GW，累计装机规模约45.7GW。

1）挖掘机：国内新增需求放缓，更新需求占据主导，预计2023年逐步触底。出口市场持续高增长，对挖机销量贡献由2021年的 20%提升至2022年的42%，随着产品结构优化、出口占比继续提升，盈利能力上行，龙头公司业绩有望拐点向上。 2）起重机销量与挖机销量强相关性，随着出口比重提升，更新需求凸显，预计2023年销量见底。 3）泵车与搅拌车周期性相近，2021年为更新需求高点，随着出口需求提升，预计2022年为泵车销量低点，2023年逐渐回升。 4）行业逐步筑底，长期看好行业国际化、电动化、数字化发展。持续推荐龙头三一重工、徐工机械、中联重科、恒立液压。

市场表现层面：5-6 月（截至 6 月 21 日）家电板块前跌后涨。5 月家电板块跑输同花顺全 A 6.6 个百分点，主因龙头公司一季报数据不及预期引领投资热情整体回落；6 月截至 21 日跑赢同花顺全 A 6.5 个百分点，市场对后续地产及消费政策预期较强+空调产业链高景气带动上下游表现强势系主要原因。基本面角度：（1）白色家电是一季报数据较为稳健的细分行业，22Q4 白电龙头业绩增长幅度回落（因疫情扰动），23Q1 白电龙头业绩增长明显回升（即便是在业绩确认相当谨慎的条件下），其中空调产业链公司的业绩增长弹性更大（尤其是二线公司）。（2）部分行业的景气复苏还未明显到来，大厨电（与地产关联度高）和小家电（与居民收入关联度高）的一季报表现较为平淡。（3）二季度空调产业的业绩弹性值得重点关注。高温天气+低基数驱动空调行业景气度持续高企，空调行业有望在 23Q2-Q3 持续高景气，催化剂或是高温气候。

2023 年6 月21 日，工业和信息化部副部长辛国斌表示“要加快关键芯片、高精度传感器、操作系统等新技术新产品的研发和推广应用，进一步提升产业发展内生动力”。高精度传感器作为现代工业发展的重要基础，其在消费电子、汽车、工业等领域具有广泛应用。由于高精度传感器具有显著的技术壁垒与制造壁垒，国内高精度传感器严重依赖海外进口，海外“卡脖子”现象比较严重。我们认为，在政策催化下，高精度传感器的战略地位有望不断提升，国产替代或将加速推进。

1）建议关注光峰科技：激光显示行业降本助推规模拓张；进军车 载显示领域，打开成长天花板；C 端家用领域及上游核心器件初露端 倪，低渗透优质赛道有望保持高成长；疫后影院租赁业务有望迎来强 劲修复。2）建议关注C 端家电市占率保持领先、制造力外拓B 端业 务的美的集团；全球化品牌矩阵布局完善，高端家电品牌卡萨帝业务 增速领先于行业的海尔智家。3）建议关注品类战略升级、渠道变革直 营占比提升、盈利能力持续提升的小熊电器。