The market by value in this report is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography. • Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

电气设备行业：蓄势待发，未来可期－从海外龙头企业经营看未来海风景气

行业景气度将持续向上。10 月 28 日，新华社授权发布《十五五规划建议》。比对十五五和十四五规划建议，可以得出：新能源汽车和 锂电池作为新质生产力重要组成部分，其重要性进一步提升；新能源汽车渗透率提升对交通领域绿色出行和碳中和具有重要意义；新型储能在未来能源发展中愈加重要，储能锂电池需求增速将超过动力电池；统一大市场和内卷综合整治将贯穿十五五，对行业发展产生深远影响；固态电池等新技术将取得重大突破并商业化。总体预计十五五期间，新能源汽车和锂电池行业景气度将持续向上。

An elevator is a vertical transportation vehicle that facilitates the movement of people or goods between various floors of a building or other multi-story structure. Elevators can be rope-free or rope-dependent. Similarly, escalator is another type of vertical transport in the form of a moving staircase, which uses a motor￾driven chain for the movement over short vertical distances.

Motorcycle rider accessories are essential items that enhance safety, comfort, and convenience for riders. A comprehensive range of motorcycle rider accessories is used for different driving conditions, including helmets, apparel, and other accessories. These motorcycle rider accessories are also used by commuters, motorbike sports participants, professional bikers, and motorbike touring enthusiasts

Mechanical connectors encompass the manufacturing, distribution, and sale of various types of connectors used for mechanical connections in different applications. Mechanical connectors are devices or components designed to join or connect two or more mechanical parts together, providing a secure and reliable connection.

LED lighting is based on fixed light source installations, which deliver a practical or aesthetic lighting effect. The general lighting industry is moving toward energy-efficient lighting, leading to technological innovations in the market. LED lighting solutions provide advantages such as low voltage and current requirements, high reliability, low radiated heat, negligible emission of ultraviolet (UV) rays, and a longer lifespan than conventional lighting sources. As a result, the adoption and penetration of LEDs in the general lighting industry are rising.

Leather tanning machinery refers to a type of industrial equipment that is used in the tanning of animal hides and skins into leather. The importance of leather tanning machinery depends on its ability to effectively and efficiently convert raw animal hides into usable leather products.

机械设备行业：特斯拉机器人基因，全栈自研、量产落地快－矩阵超智

发电机组为柴油机关键下游增长点。柴油机下游场景广泛，行业销量整体随商用车周期波动，其中发电机组持续增长，发电机组下游包括偏远区域主电源、数据中心/商业设施/工业企业等备用电源。数据中心场景下，柴发是保证其高可用性及业务连续性的关键环节，占据大厂数据中心资本开支的2-3%。