11 月21 日，工信部等三部门联合印发《关于巩固回升向好趋势加力振作工业经济的通知》（以下简称“《通知》”）。《通知》提出17 条政策举措，夯实工业经济回稳基础，其中，第7 条“巩固装备制造业良好势头”对机械设备行业做出部署，以下就数控机床、农机、光伏、锂电、工控设备领域做简要分析。

报告期内（2022/11/5-2022/11/18）机械设备行业下跌0.36%，跑输沪深300 指数1.27pct，二级子行业中轨交设备、工程机械、自动化设备、专用设备、通用设备分别变动2.41%、2.39%、1.28%、-1.64%、-2.28%。重点跟踪的三级子行业中，工控设备、激光设备、锂电专用设备、光伏加工设备、半导体设备分别变动1.24%、-0.58%、-12.95%、-12.96%、-13.61%。

Over the last few years, the demand for heat-transfer fluids increased due to their various end-use applications. Heat-transfer fluids are primarily used as intermediate fluids to transfer heat from a heat source to parts that require heat. They are liquids or gases used to heat or cool machine systems. Heat-transfer fluids are utilized in countless industrial and other applications that require specific temperatures in closed circuits and continuous cycles.

The management of many gastrointestinal diseases relies on the diagnostic and therapeutic capabilities of endoscopes. Endoscopes are considered semicritical and used in sterile body cavities. Complex endoscope design features may allow organic debris to accumulate and should be sterilized after each procedure. Although endoscopic procedures carry a minimal risk of infection, the potential transmission of exogenous infections among patients is a significant concern for patients, clinicians, healthcare facilities, endoscope manufacturers, and regulatory agencies. Hence, every patient must be considered a potential source of infection, and all endoscopes and accessory devices must be decontaminated with the same degree of rigor following every endoscopic procedure.

OVERVIEW The global electric lawn mowers market is growing at a substantial rate due to the increasing demand for equipment from residential and commercial users. The increase in demand is attributed to the expansion of green acreage, and it is highly influenced by weather conditions. The demand for electric lawn mowers surges during the summer and spring months due to the increased time spent on lawncare activities. Moreover, growing government efforts for the expansion of green acreage through the construction of parks, lawns, and playgrounds are pushing the demand for electric lawn mowers in the market. With the rising interest in gardening and lawn care activities, the demand for landscaping services is also growing significantly, thereby pushing the demand for electric equipment by landscaping service providers in the market.

Advances in technology have led to the development of several tools and machines used across industries. Power tools are outpacing traditional hand tools in the professional and residential segments due to the demand for efficiency. For example, the construction industry experiences high pressure to launch innovative tools that reduce human effort. The surge in infrastructure and construction is a boon to the power tools market that will also enforce innovations in the future.

The commercial scrubbers & sweepers market has been witnessing consistent growth over the last few years, and the growth is expected to continue during the forecast period. It is also one of the fastest-growing floor cleaning equipment markets in the world. The growth of automation and robotics in commercial floor cleaning is reshaping the market, with rising adoption in industries such as warehouse & distribution, airports, and other high-traffic areas. This professional equipment provides highly efficient cleaning across all sectors. With the increasing adoption of automation, consumers are using technology in many daily chores, including cleaning. The use of equipment such as commercial scrubbers & sweepers can greatly reduce the time and manual labor required for cleaning. In industries, these machines provide a more ergonomic method of cleaning, thereby ensuring the safety of workers. Commercial scrubbers & sweepers thus precisely make the job of cleaning easier, faster, and safer for workers.

The global chainsaw market is witnessing substantial growth owing to the high consumption of wood among individuals. According to the FAO, the United Nations, wood fuel production was 928 million m3 in 2020. Hence, the rising demand for roundwood is also pushing the demand for chainsaws during the forecast period. The chainsaw market is also influenced by the growing efforts of the government to expand green space and agricultural land, which is also pushing the market demand for the product.

本文梳理了设备更新周期的分析框架与其对经济的影响。我们判断，在设备 更新改造专项再贷款等政策的刺激下，我国有望开启新一轮设备更新周期， 并带动明年制造业投资延续强劲增长态势。

2022Q3 机械板块收入及归母净利润实现较好增长，毛利率整体提升，多数板块经营情 况环比改善明显，行业呈现复苏状态。展望四季度和明年上半年，我们认为景气度有望 出现复苏。