本周行业重点信息：新能源汽车：工信部发布 2017 年第二批新能源汽车推广应用推荐车型目录，201 款车型入选，其中乘用车 36 款、客车128 款、专用车 37 款；《促进汽车动力电池产业发展行动方案》提出到 2020 年，动力电池行业总产能超过 100GWh，形成产销规模在 40GWh以上的龙头企业。电改电网：2016 全年发电量 6.14 万亿 kWh，同增 5.6%。

2016 年 2 月，能源局发布了《 关于推进“互联网+”智慧能源发展的指导意见》，并随后下发了《国家能源局关于组织实施“互联网+”智慧能源（能源互联网）示范项目的通知》。此次示范项目的公示，标志着“互联网+”智慧能源进入实质性发展阶段。

Heat pumps are among the most energy-efficient substitutes for air conditioners and furnaces, especially in climates that require moderate cooling and heating needs. The pumps, like refrigerators, make warm space warmer and cool space cooler by using electricity to move heat. Considering that heat pumps only move heat instead of generating it, they enable almost 25% cost savings when compared with conventional methods.

An ultracapacitor is an energy storage device that stores energy through an electric field, whereas a battery stores and generates energy through a chemical reaction. Ultracapacitors can store higher charge quantity than batteries as they conduct electricity through an electric field, making them ideal for applications requiring high electric current and voltage. An ultracapacitor has two electrodes: one positive and one negative. These electrodes are coated with activated carbon, a sponge-like substrate that is porous in nature. The electrode is dipped in an electrolyte consisting of positive and negative ions. When a voltage is applied to the electrode, oppositely charged ions start moving toward the electrode and accumulate at its surface. This movement of oppositely charged ions creates an electric field that helps in storing energy. The electrodes used in ultracapacitors have two charged coating on their surface, thus it is also called double layer capacitor.

Cooling solutions are used in data centers worldwide to lower the heat generated by IT equipment. Data centers operate CRAC and CRAH units, including air conditioners, chillers, cooling towers, economizers, humidifiers, and modern containment systems that offer rack cooling. These cooling units involve the use of air and liquid-based cooling techniques. As the cooling process accounts for 36% of the power consumed in data centers, vendors are innovating and testing techniques to reduce the operational expenditure (OPEX) associated.

In the automotive industry, there is a constant revision and upgrading of technology to increase fuel efficiency in powertrains and reduce vehicular emissions to comply with stringent emission rules. The introduction of electric coolant pumps is a step in this direction. Conventional water pumps used for cooling IC engines are mechanical water pumps, which are belt-power driven and takes rotational energy from the engine. An impeller is installed in the engine, which sends the coolant to the various components of the engine to absorb the heat. Since the water pump is driven by the speed of the engine, it affects either the power of the vehicle or the fuel economy. Moreover, as soon as the engine stops, the flow of the coolant to the different heated components also stops and is no longer able to absorb the heat.

In 2015, the laptop adapters segment was the highest revenue-generating application segment in the global super-junction metal-oxide semiconductor fieldeffect transistor (MOSFET) market, accounting for a share of 21.72%. In 2015, APAC was the largest market with a revenue share of 54%. The global super-junction MOSFET market will grow at a CAGR of 13.42% during the forecast period.This report presents a detailed study of the present scenario and growth prospects of the global super-junction MOSFET market for the period 2016-2020. It considers 2015 as the base year and forecasts the market value through 2020.The market size is calculated on the basis of revenue generated from the sales ofsuper-junction MOSFETs only. The segmentation in the report includes super-junction MOSFETs for laptop adapters, desktop PCs, flat TVs, lighting supplies, server power supplies, and others segments. The report also presents a corresponding detailed analysis of the major vendors manufacturing super-junction MOSFETs in the Americas;APAC, and EMEA.The report discusses the major drivers that influence the growth of the global superjunction MOSFET market. In addition, it outlines the major challenges faced by vendors and the market as a whole, and finally, it examines key trends that are emerging in the market.

Travel irons, as traveling gadgets, are losing their market share, primarily because most hotels and resorts offer irons as well as laundry services. Also, with the trend of carrying wrinkle-resistant clothes during travel, which do not need ironing, the need for travel irons further diminishes. Travel irons are mostly used by business professionals. However, with increasing consciousness of consumers about dressing even during leisure travel, the sales of these portable, lightweight irons will likely increase during the forecast period. As irons comprise a part of the very basic appliances, there is not much innovation taking place on this front, globally. However, in order to increase the saleability of travel irons and further entice consumers, players are introducing various features such as covetable wings, dual voltage, and compact nonstick soleplates.

The invention of submarines has revolutionized the naval warfare. Submarine batteries are vital for the safety and operational effectiveness of the watercraft's power system. Countries, such as the US, Russia, China, Japan, and India, are investing heavily in the procurement and development of submarines to strengthen the respective countries' sea border security and to gather intelligence. The lead-acid battery (LAB) technology has a history of more than 100 years.However, latest R&D activities on lithium-ion (Li-ion) batteries are undertaken to make them safer and cost effective when adopted as a power source in submarines.In this report, Technavio covers the present scenario and growth prospects of the global submarine battery market 2016-2020.

 工程机械正在经历换机需求主导的中等级别复苏，反弹高度预计相当于 2011 年高点的 70-80%。随着行业的冗余供给出清和下游基建、矿山等需求情况逐渐 好转，以挖掘机为代表的土方机械率先复苏，我们预计一季度整体销量增速将 超过 100%。根据我们的测算，考虑租金价格的回升，80 小时/月的利用率已经 跨过了大部分租赁商的盈亏平衡线，回收期在 5 年以内（IRR+10%），进入合 理区间，换机需求得到激发。其它品种如工程起重机、叉车等相继出现大幅复 苏，混凝土机械作为见顶最晚、需求结构较差的品种相对迟滞，但从全行业看 已经明显出现热度扩散。我们认为工程机械正在经历的是一轮中等强度的、全 方面的复苏行情，中期反弹高度相当于 2011 年的 70-80%。

周期机械的复苏路径 中等级别复苏行情，投资时钟贯穿全年：1Q看工程机械，2-3Q看煤机、煤化工，长看油服装备 1. 工程机械：率先反弹，真实的强复苏 2. 煤炭机械：需求积累待释放，坏账冲回弹性大 3. 集装箱：量价齐升，复苏进行时 4. 油服装备：企稳回升，看海外，选龙头 5. 煤化工设备：短中长期需求叠加，弹性可期

.能源板块三个主题是年内工作重点。政府工作报告字字珠玑，涉及国民 经济诸多领域。从能源板块来看，政府工作报告 5 次提到能源、3 次提到 电力，重点工作涉及三个方面：电改、新能源并网消纳、煤电去产能。这 也将是本年内政府工作的重心。抓好电改，电力行业混改要迈出实质性步伐。政府工作报告与中央经 济工作会议均将电力行业作为推进混改的重点领域，要求“迈出实质性步 伐”，并特别强调“抓好”电力体制改革。在去年基础上，我们认为今年将 是电改第二个爆发期。涪陵电力、文山电力等电网系统售电平台将是最大 的受益者；合纵科技、北京科锐等受益于增量配电市场放开的小市值、高 弹性标的。

《中国制造 2025》显效：多省装备制造业提速。工信部副部长辛国 斌近日在出席机械行业的会议上透露，今年是实施《中国制造 2025》的关键一年，要把装备制造业作为今年制造强国建设任务的主战场。山东、 安徽、河北、辽宁等地装备制造业增长强劲。 制造业“互联网+”战略加速落地。工信部消息称，2017 年组织开展 制造业与互联网融合发展试点示范工作，聚焦工业云、工业大数据、工业电子商务、信息物理系统、行业系统解决方案等方向，遴选一批制造业与 互联网融合发展试点示范项目。业内人士认为，这意味着制造业“互联网+”战略加速落地，相关产业将迎来快速发展的风口

 关注盈利修复：传统机械设备在需求回暖带动下，盈利有望出现修复，关注以下两个 细分领域 1. 工程机械：基建加码+存量设备更新需求，矿山需求复苏，行业拐点显现，盈利改善来临 2. 煤机设备：煤企盈利改善投资有望恢复+机械化率提升+设备更新高潮到来，煤机设备需求有 望逐步复苏  布局新兴领域：转型背景下，新兴产业领域仍是最值得投资领域，部分细分子行业景 气度较高，布局以下三个新兴产业领域 1. 轨道交通装备：铁路固定资产投资维持高位+城市轨道交通快速发展期+PPP助推+轨道交通后 市场需求，轨道交通维持较高景气度，带动轨道交通装备受益 2. 智能制造：制造业转型升级、提质增效+政策大力支持，智能制造行业景气度不断提升，关注 机器人产业及锂电自动化 3. 核电设备：“十三五”非化石能源消费比重提高+2017年核电项目建设计划明确+核电“走出 去”不断取得突破，核电设备有望受益

挖掘机销量超预期，继续关注工程机械盈利修复。2 月挖掘机销量增 速接近 300%，剔除春节错月影响，1-2 月挖掘机累计销量增速仍超过 180%，大幅超出市场预期。1-2 月挖掘机销量挖掘机销量高速增长主要 与基建投资加码、矿山需求回升、去年基数较低以及存量更新需求等因素 有关。从近期其他工程机械设备销量情况来看，挖掘机销量回升已逐步扩 散到推土机、起重机等其他品种，整体需求回暖，而根据工程机械板块 2016 年业绩披露情况，在需求回暖的带动下盈利改善已有所体现。我们 认为工程机械需求回暖仍将延续，带动工程机械板块盈利修复延续，建议 关注相关龙头企业：三一重工、徐工机械、恒立液压。