The sterilization equipment market is largely driven by increasing risks of cross-transmission in hospitals and other healthcare settings. According to a study conducted by Philip L. Russo et al., published in the Antimicrobial Resistance & Infection Control Journal, 2019, in Australia, the prevalence of patients with a hospital acquired infection (HAI) was 9.9%. The most common HAIs’ were surgical site infection, pneumonia, and urinary tract infection. The incidence is expected to be more in hospitals in developing and underdeveloped countries due to the lack of precautionary facilities. Other factors driving the growth of the market are the increasing number of surgical procedures, globally, primarily due to increasing number of chronic diseases and injuries. Additionally, due to the growth in the pharmaceutical industry, around the world, people are aware of sterilization equipment. These factors have also boosted the market growth. However, high stringent regulatory guidelines for market approval of devices and use of potentially harmful chemicals in these equipment have been restraining the market growth.

建议持续关注工程机械板块的龙头主机公司中联重科（000157）、液压零部件公司恒立液压（601100）和塔吊租赁公司建设机械（600984）。

据中国工程机械工业协会统计，8 月纳入统计的25 家挖掘机企业共销售挖掘机2.1 万台，同比增长51%；其中国内1.81 万台，同比增长56%；出口2863 台，同比增长26%。

据中国工程机械工业协会统计，8 月纳入统计的25 家挖掘机企业共销售挖掘机2.1 万台，同比增长51%；其中国内1.81 万台，同比增长56%；出口2863 台，同比增长26%。

随着疫情状况向好，半导体设备公司二季度业绩大幅改善、趋势向好。行业景气度趋势上行，A 股半导体设备公司国产替代受益空间较大。

行业持续稳健复苏，财务指标基本稳定：机械行业2020 年上半年总营收为6107 亿元，同比增长4.17%，增速同比下降6.14pct；行业整体实现净利润510 亿元，同比增长9.08%，增速较上年同期也有所下滑，但考虑到疫情因素，营收及净利润能够保持正增长已实属不易。

我们认为，双循环发展格局下中国内需潜力将进一步被激活，庞大内需市场将需要大而强的本土制造业体系在供给端与之匹配。目前中国已经建立了全球规模最大、覆盖最广的制造业体系，但先进制造仍然存在规模和技术上的不足，其上游核心的高端装备国产化、自主化水平较低是关键制约之一。当前形势下，高端装备自主可控既是产业发展的大势所趋，更是构建全球竞争力的势在必行之举，双循环格局将进一步加快该进程，以半导体设备、智能制造装备（工业机器人等）为代表的高端装备产业将迎战略机遇期。关注装备技术水平走在前列的半导体设备、工业机器人本土龙头。

投资策略：短期内我们看好军用功率半导体领域的国产替代，长期民用新能源汽车IGBT 想象空间巨大。振华科技在自身经营阻感容、分立器件等军用元器件的基础上，横向收购森未科技后进入IGBT 领域，与其自身的经营范围高度重合。且军用IGBT市场竞争小，替代空间大，短期内能给公司带来业绩与估值的双重抬升。长期看我国电动车发展长期向上趋势不变，随着新能源汽车厂竞争格局的确定，我国民用IGBT 公司龙头效应将凸显。