电气设备板块上周上涨0.61%，涨幅领先大盘。其中，风电板块上涨3.78%、发电设备上涨2.01%、工控自动化上涨1.60%、光伏板块上涨1.30%、新能源汽车指数下跌0.13%、锂电池指数下跌0.30%、核电板块下跌0.97%。

底部区间，新周期伊始。机床作为工业母机，是工业生产最重要工具之一，根据NTMA 数据，2019 年全球机床消费821 亿美元，中国消费223 亿美元，占全球机床市场的27.2%。机床一般更换周期约为10 年，国内机床消费量和产值在2011 年达到顶峰后回落，进入长达10 年的下行周期。国内制造业复苏深化，机床产业迎更新替换新周期。

根据 WRI 统计数据，中国碳排放的 41.6%由发电和供热行业贡献，23.2%来自制造业和建筑业用能，7.5%来自交通运输领域。以上 3 个领域碳排放占比超过全国总量的 72%，是需要进行“碳中和”节能减排的大户。降低碳排放可以通过改变能源利用结构和降低单位产值能耗等手段实现，而装备制造业有望扮演重要角色。

近日，国家发改委等十三部门制发《关于加快推动制造服务业高质量发展的意见》（下称《意见》），我们认为这反映了国家各部委对制造业的关切与支持，将有利于制造服务业的长足发展。

2021 年以来，上游原材料呈现普涨趋势，截止3 月19 日钢价/铜价/铝价指数今年已上涨7.70%/14.72%/11.61%。机械行业作为中游制造行业，大部分企业的营业成本构成中原材料成本占比在60%以上，受原材料价格价格影响较大，本周我们量化分析了原材料上涨对机械行业上市公司毛利率的影响，从机械行业整体、典型细分领域（工程机械行业）、代表公司（我们重点跟踪公司）等维度展开具体分析。

中金机械组合过去5 个交易日（2021/03/16-2021/03/22）上涨2.97%，同期沪深300 指数上涨0.43%。本周组合为A 股三一重工、恒立液压、华测检测、美亚光电、捷佳伟创、巨星科技、中联重科、拓斯达、捷昌驱动、应流股份；H 股中联重科、海天国际。本期组合维持不变。

板块表现。从各行业横向比较来看，2021 年第10 周（2021 年3 月15 日至2021年3 月19 日），机械设备行业相对沪综指周累计超额收益为负，在所有行业中处于中下游位臵，周累计超额收益为-0.41%。2021 年至今机械设备行业年累计超额收益1.76%。

Top winning strategies are analyzed by performing a thorough study of the leading players in the global differential assembly, starter motor, and bevel gear market. Comprehensive analysis of the recent developments and growth curves of various companies have helped understand the growth strategies adopted by them and their potential effect on the market. The companies have been evaluated on the basis of annual reports, SEC filings, and press releases. The key strategies traced from the analysis of recent developments of the key players in the differential assembly, starter motor, and bevel gear market are as follows:

An e-bike or electronic bicycle is a standard bicycle, which is equipped with an electric motor, a battery, and a drivetrain. The bike can be moved through pedaling or can run on rechargeable batteries. It majorly uses lead acid batteries and can cover long distances with a single charge. E-bike is simple to operate, convenient for all age groups, and serves as an environment-friendly means of transportation, in comparison to motored vehicles. Electric bikes are now being considered as viable transportation option due to their power capacity, long distance range, and moderate speed. The popularity of electric bike is increasing, due to rapid urbanization and surge in vehicular traffic on streets.

Crane is a mechanical device equipped hoisting mechanism attached with wire ropes, hoist ropes, sheeves, or chains, which can be utilized for material handling applications on industries and construction sites. The report on the global cranes market presents a detailed analysis of the trends, future estimations, and thorough study of the market based on type, mobility, business type, and region. The study provides information about static and mobile cranes. It further outlines the details about various types of cranes such as overhead travelling cranes; transporter cranes, gantry cranes, & bridge cranes; and tower cranes & portal or pedestal jib cranes. In addition, it focusses on various business types, including original equipment manufacturers (OEM) and aftermarket.