Pin and sleeve devices are widely used in residential, commercial, and industrial applications as a medium for electricity to flow from circuit to device. Various industries, including automotive, manufacturing, oil & gas, and energy & power, widely use pin and sleeve devices in multiple applications as these devices offer safe connectivity and high durability. They also provide suitable result in abusive environments. The scope of the report discusses the potential opportunities for the market players to enter the global pin and sleeve devices market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key area of investments. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.

移动互联网时代后，是软硬结合的物朕网时代：近年随着移动互联网人口红利消失，智能手机出货量持续下降，人们将眼光转向手枳以外的智能硬件，家庭、教育和医疗等场景下的机器人逐渐发展。智能机器人成为投融资热点，机器人相关专利数上升：智能机器人是2013年至2018年人工智能技术层最受创投圈欢迎的人工智能应。国内枳器人专利数持续上升，其中2015年同比增速翻一番，近几年呈下降趋势。

The development of injectable drug delivery system is playing a major role in the healthcare industries. New technologies are influencing the current medical practices, which are positively changing the bioavailability, safety, and efficacy of the drug.  The burden of chronic diseases is increasing worldwide. Factors, such as aging population and behavioral changes in lifestyles, are leading to long-term health problems, and their treatment can be expensive. Most deaths by chronic diseases can be attributed to cardiovascular diseases, obesity, and diabetes. This rise in the burden of such diseases is contributing in the growth of the injectable drugs and devices market. The increasing adoption of injectables drugs is currently driving the growth of the market. In the regions, like North America, there has been an increasing adoption for injectable drugs, due to early adoption of advanced technologies. The companies operating in the prefilled syringes industry are getting government approvals for various drugs used in syringes, to increase their market share.

光伏行业长期受到产业技术进步、能源政策导向、产能周期波动等众多瞬息万变因素的影响，因此对相关板块的研究判断结论通常充满各种不确定性，并造成一定程度的板块估值折价，新冠疫情肆虐更是平添了新的不确定性。

白电受疫情影响持续下行，小家电表现上行。（1）白电出货端：据产业在 线数据，2 月空调内销同比下降 67.33%，出口同比下降 13.2%；冰箱内销 同比-47.2%，外销-17.6%；洗衣机内销同比-52.4%，外销同比-37.7%。白 电内销受疫情冲击影响持续下滑，预计 Q1 出货量将持续承压；外销受 海外疫情扩散影响，未来短期需求将受挫。（2）白电零售端：据奥维云 网，2 月空调零售额线上同比-23.8%，线下同比-39%；冰箱线上-5%，线 下-68.1%；洗衣机线上-12.5%，线下-63.4%。（3）小家电零售表现上行： 厨房小电线上同比增速 22.4%，环境电器中吸尘器线上增速达 49.2%，净 化器增速达 68.8%。我们认为居民宅家时长增加，拉动小电需求；同时健 康意识增强拉动清洁电器消费。

消费利好政策频出，看好边际改善。3 月 18 日，商务部消费 促进司负责人王斌表示将会同有关部门进一步研提促进汽车、家具、 家电等重点商品消费的政策措施。多个地方政府也推出促消费政策， 向市民发放消费券，释放居民消费潜力。我们认为随着家电促消费政 策逐步落地，前期受疫情抑制的家电需求将得到释放，家电消费有望 边际改善。

短期冷静看待外销承压，长期不改全球家电制造大国地位。中国是世界主要的家电出口国，疫情影响海 外需求波动传导到中国难以避免。上市公司方面，除外向型企业外，家电整体海外业务占比相对合理， 影响相对有限。

2020 年 3 月市场表现：上证综指收 2750.3 点，变动-4.5%；沪深 300 报收 3686.2 点，变化-6.4%；中小板指收 6504 点，变动-10.4%；创业 板指报收 1872 点，变动-9.6%。28 个申万一级行业中排名前三位分别 为农林牧渔、食品饮料和商贸，其中家电板块居第 26 位，较上月下降 7 位。3 月家电各子板块涨跌互现，居前三位的为洗衣机（46.3%，惠 而浦）、小家电（-3.7%）和空调（-10.1%）。从行业资金流向来看，3 月所有28个申万一级行业仅食品饮料、农林牧渔呈现资金持续净流入， 其中家电板块资金净流出-3.27%，呈现继续扩大趋势，居第 6 位，较 2 月上升 20 位。本月个股涨跌幅居前五位：惠而浦（46.3%），小熊电器 （12.3%），春兰股份（6.4%），九阳股份（4.3%）和飞科电器（3.74%）。