The ultrasonic sensors measure distance through ultrasonic waves. The sensor head releases an ultrasonic wave and accepts the wave reflected back from a target. These sensors measure the distance to the target by calculating the time between emission and reception. The ultrasonic sensors are broadly used in diverse industries, including food & beverage, chemical, medical, automotive, agriculture, process, wastewater management, and more. These sensors have their application in a conveyor belt, smart parking, vehicle detection for car washes, pallet detection with forklifts, diagnosis, liquid level sensing, trash level monitoring, production lines, and others. Some of the prominent benefits of ultrasonic processing technology include process intensification, low power consumption, low cost of processing, operator-friendliness, simple adaptability to specific applications, and environmental safeness makes ultrasonication a technique for the reliable product quality with better outcomes. Owing to an increase in integrating automation into manufacturing and other industries, the use of industry 4.0 is contributing heavily towards the growth of the ultrasonic sensor market. Moreover, the use of sensors in autonomous vehicles and other vehicles with ADAS features to measure the range during parking is giving other opportunities to the automotive industry for growth. On the contrary, the availability of substitute products such as an optical sensor for measuring distance might act as an obstacle in the growth of ultrasonic sensor market.

2 月沪深 300 下跌 1.6%，中信汽车指数逆市上涨 2.5%，表现优于大盘。 2 月乘用车销售 22.4 万辆，同比下降 81.7%，环比下降 86.1%；商用车销 售 8.6 万辆，同比下降 67.1%，环比下降 73.1%。乘用车与商用车同比、 环比均出现大幅下滑，预计主要受到新冠肺炎疫情影响，生产端企业复工 进度慢、零部件供应短缺，销售端产品销售停滞，到店率低。预计 2020 Q1 产销量都将出现大幅下滑，目前国内汽车产能富裕，短期停工对于全年产 量影响相对较低，销售节奏或将后移，局势好转后积压需求有望逐步释放。 工信部优先支持汽车产业复工复产，稳定汽车产业链供应，保障产业正常运 转，并鼓励汽车限购地区适当增加汽车号牌配额，稳定汽车消费政策有望出 台，推动乘用车市场回暖，重点推荐长安汽车、长城汽车、上汽集团等。 近日，新冠肺炎疫情在欧美等地区快速蔓延，或将冲击海外市场需求，海 外收入占比较高的零部件企业将面临一定的风险。

20 年 1-2 月我国销售客车 1.4 万辆，同比下滑 44.4%。根据中客网统 计的 3.5 米以上客车数据，20 年 1-2 月我国销售客车 1.4 万辆，同比 下滑 44.4%，其中 2 月份销量为 0.27 万辆，同比下滑 64.3%（19 年 我国累计销售客车 21.9 万辆，同比下滑 11.5%）。分用途看，20 年 1-2 月我国座位客车、公交客车、校车、其他客车分别累计销售 0.89、0.38、 0.06、0.10 万辆，同比累计增速分别为-28.5%、-58.0%、-64.0%、 -61.5%，分别占总销量的 62.6%、26.5%、4.1%、6.8%。分车长看， 20 年 1-2 月我国大中客累计销售 0.74 万辆，同比下滑 49.1%。

零售销量 25.6 万辆，同比-78.6%，降幅明显。商用车批发销售 8.6 万辆，销量同比-67.1%。因受新冠肺炎疫情影响，行业产销均大幅下滑， 降幅符合市场预期。因销量大幅下滑，汽车库存系数显著升高。厂商库存 小幅减少，终端库存有所上升。 2 月下半月经销商逐渐复工，销售缓慢恢 复，但短期库存压力或将持续。

Tailgates are the rear gates that are attached to the backside of the vehicle and are used to occupy the passengers at the back of the vehicle or to accumulate luggage. Tailgates used in a vehicle are of different types such as manually operated tailgates or the automatic tailgates and this depends on the level of autonomy of the vehicle. Owing to increased production and sales of the vehicle along with the technological upgradation in vehicles, manufacturers across the globe have introduced various products in tailgates, which leads to the growth of the automotive tailgate market across the globe.

The global nylon cable ties market was valued at $129.0 million in 2018, and is projected to reach $253.9 million by 2026, registering a CAGR of 8.86% from 2019 to 2026. The electronics & electrical segment was the highest contributor to the market, with $39.5 million in 2018, and is estimated to reach $75.5 million by 2026, at a CAGR of 8.4% during the forecast period. The automotive segment is estimated to reach $37.6 million by 2026, at a CAGR of 9.6%. The electronics & electrical and building & construction segments collectively accounted for around 52.0% market share in 2018, with the former constituting around 30.7% share. The automotive and consumer goods segments are expected to witness significant CAGRs of 9.6% and 9.4%, respectively, during the forecast period. The cumulative share of these two segments was 23.0% in 2018, and is anticipated to reach 24.2% by 2026.

5G 布局提速，基站储能电池需求超161GWh，其中2020 年需求14.4GWh。近日，中央政治局以及工信部先后召开会议，会议明确表示加快5G 建设进度，推进5G 复工复产，三大运营商也相继表态加大5G 基站建设力度。表明国家推进5G 建设决心，在顶层协调部署下，预计今年5G 基站建设将超预期，实现68 万个5G 基站建设，2025 年完成760 万个基站建设。由于5G 使用了更大规模的阵列天线、更高的带宽，单站满载功率接近3800W，是4G 基站功耗的3.5 倍，考虑机房其他设备的能耗，我们认为5G 基站能耗将达到5300W，以4 小时备用时间计算，单个基站后备电源容量需要21.2KWh，而单个4G 基站备用电源典型值为11.2GWh。由此我们预计2020-2022 年基站备用电源需求容量分别为14.4GWh、21.2GWh 和27.56GWh，到2025 年累计备用电源需求容量达到161GWh。

新能源汽车产业与新能源产业同为补贴驱动的行业，所处阶段不同。参考风电和光伏行业发展路径，我们认为政策波动下不同环节的利润分布差异显著，行业龙头有望在需求回升时利润反转，穿越牛熊。我们认为19 年或为新能源车中游业绩增速的低点，中游龙头有望在2020 年随国内外需求快速提升迎来戴维斯双击。我们从成长性、集中度、天花板、全球化四因子看行业龙头基因，推荐宁德时代、当升科技，关注璞泰来、天赐材料、嘉元科技、三花智控和先导智能。

The market studied is expected to grow significantly in the future, majorly driven by the expansion of polymers resin production. Polyolefins are widely used in for applications, such as injection molding, blow molding, etc., across various end-user industries, including electrical and electronics, automotive, construction, medical, and consumer. The market studied is significantly influenced by rising trends in the automotive industry, such as lower emissions, increasing demand for light vehicles, fuel efficiency, and other factors. In addition to this, the rising number of electrical vehicles around the world, particularly in the Asia-Pacific region, has boosted the demand for polymer resins. The demand for packaged products has also increased in recent times, which is further propelling the demand for polyolefins. The increased use of plastics as a substitute for glass and metal products, development of new products, and increased sophistication in plastic processing methods are some of the major factors that have led to the expansion of polymer and resin production in these industries.