未来，“一带一路”沿线国家基础设施前景广阔，将是我国工程机械行业国际产能与装备合作的重要对象，随着“一带一路”战略的推进，我国工程机械行业产能过剩问题有望进一步解决。出口市场和国内市场持续回暖，挖掘机销量将进一步提升；预计，上半年，挖掘机累计销量约为 75400 台，同比增速约为 101%。

This report covers the present scenario and the growth prospects of the global homogenizers market for 2016-2021.To calculate the market size, the report considers the sales generated through ultrasonic, mechanical,and pressure homogenizers.

The architecture of a dental CAD/CAM system comprises three different levels:scanning, designing, and milling.The new software license revenue is realized from the fee earned by vendors offering CAD/CAM software to customers. The CAD/CAM software license revenue includesboth perpetual and periodic licenses or subscriptions. Perpetual licenses are one-time investments, which can be used indefinitely. The revenue from periodic licenses and subscriptions is earned from the fee charged to keep the license active. Vendors also offer pay-per-use models and CAD/CAM services based on cloud-based offerings.This report covers the present scenario and the growth prospects of the dental CAD/CAM market for 2016-2021. To calculate the market size, the report considers the revenue generated from the sales of CAD/CAM software licenses.

Cooling solutions are used in data centers worldwide to lower the heat generated by IT equipment. Data centers operate air conditioning units, chillers, economizers, cooling towers or dry coolers, humidifiers, and also rack/row level cooling solutions. These cooling units involve the use of air and liquid-based cooling techniques. As the cooling process accounts for 40% of the power consumed in data centers, vendors are innovating and testing techniques to reduce operational expenditure.

In this report, Technavio covers the present scenario and growth prospects of the global drilling bits market in oil and gas for 2017-2021. Also, the report discusses the major drivers influencing market growth and the challenges faced by vendors and the market as a whole. It also examines key emerging trends and their impact on current and future market scenarios.One of the integral components of any market estimate and analysis pertains to the definition of the estimates and the exclusions. The following section of the reportenlists certain key estimates, which we have considered while arriving at the market trends and certain exclusions that have helped to demarcate the market contours.

Critical care or intensive care is the close monitoring and treatment given to individuals with acute, life-threatening illness or injuries such as shock, burns, accidents,complicated surgeries, sepsis, and severe breathing problems. It usually takes place inan ICU or trauma center.The therapeutic usage of drugs during these critical care scenarios are termed as ‘critical care therapeutics’ and can be grouped as below:Plasma therapeutics and Anticoagulants.Several plasma-derived products are commonly used in critical care situations, which include:Albumin,Antithrombin concentrates,Factor XIII concentrates,Fibrinogen concentrates,Prothrombin complex concentrates.

Dental imaging techniques use digital image capture devices such as sensors and scanners to provide two-dimensional (2D) and three-dimensional (3D) images of dental condition. These techniques permit immediate image preview and availability,eliminates costly film processing steps, and provides special image processing techniques that enhance the overall display image quality. Dental imaging can be used for dental treatments that require high-quality three-dimensional imaging to offer better treatment care. It helps the dentists evaluate diseases (endodontic and periodontics) in the jaw or teeth, to understand the anatomical structure of the maxillofacial region for surgery, and to diagnose soft tissues around the jaws for dental implants.

In this report, Technavio covers the present scenario and growth prospects of the global high-pressure oil and gas separator (HPOGS) market for 2017-2021. Also, the report discusses the major drivers influencing market growth and the challenges faced by vendors and the market as a whole. It also examines key emerging trends and their impact on current and future market scenarios.

随着美国进入加息周期。中国也进入了金融去杠杆的阶段，流动性日益趋紧。A 股市场进入以低估值价值白马为主要方向的价值投资时代，估值水平和投资策略在逐步与海外趋近。这意味着后面的 A 股投资会更加重视基本面的研究，重视业绩与估值的匹配性。

目前稳定发展的成熟型行业，但公司在行业中作为龙头企业，竞争力卓越，且目前估值处于较低的水平，安全边际高。而目前处于此行业的公司未来的增量我们认为应主要来自于几个方面：1）公司产品出口占比较大，受益于海外市场的增长；2）公司的市占率逐年提升，而未来仍有提升空间；3）产品升级，新品推出并已确定性放量。

上周机械行业整体估值水平持续下滑，截止到 7 月 7 日，机械行业 P/E(TTM)为 61.9 倍，与沪深 300 的 P/E(TTM)之比为 4.46x（前值为 4.27x）。2017 年度，在产能去化导致市场集中度提升、产品更新周期到来、以及下游需求呈现结构性改善等因素作用下，传统周期板块景气度提升，行业龙头价值凸显。

受益基建投资加码、供给侧改革推进及地产投资发力，传统制造业呈现明显的结构性复苏，当前中游设备里偏中前端的工程机械和叉车销量持续高增长半年以上，且未来仍具备一定的增长惯性。鉴于产业链的相关性，下游设备销量高增长的同时，也会拉动上游供应商的需求，同时驱动存在产能紧缺的上游设备厂商加大资本开支，中游设备呈现有先有后的需求复苏，整体行成一个闭环复苏格局。

我们维持年度策略中“机械行业中的高估值个股（同时兼具高市盈率、高市净率、高市销率）将在2017年‘稳健中性，防控风险’的大环境下有估值回归的压力，在投资方向选择上需要更偏重于受益‘更加积极有效的财政政策’和‘深化供给侧结构性改革’的领域”的观点和机械行业整体“同步大市”的评级。根据对经济周期的研究，目前我们正在经历第三大阶段（中速发展期），对应日本经济的第三大阶段，我国经济在目前阶段也将大概率催生资产泡沫。