Industrial automation, as the “pearl” of intelligent manufacturing and the foundation for realizing the industrial Internet, is ushering in a stage of rapid development.
According to relevant research reports, the total value of China’s industrial automation industry will reach about 200 billion yuan in 2021, with a compound growth rate of more than 30% from 2019 to 2021, showing a strong growth trend.
From the perspective of the industrial chain, the upstream industry of industrial automation is power electronic components, and the downstream industry mainly includes OEM and project-based markets.
Its industrial chain covers multiple system links and can be roughly divided into control systems (PLC, HMI and industrial software, etc.), drive and execution systems (servo drives, frequency converters, reducers, contactors, etc.), feedback systems (sensors, process/detection instruments, etc.) and output systems (robots, CNC machine tools, etc.).
Among them, the control system and execution system are the largest. The scale of PLC, CNC, reducer, servo, low-voltage inverter, sensing/instrument and other fields is much higher than that of other links. It is also the focus of core component companies.
In terms of domestic substitution, China is in a critical period of intelligent upgrading of manufacturing.
Combining Japan’s manufacturing upgrading experience, we sorted out several major areas in China’s advanced manufacturing that are most likely to achieve “domestic substitution”, including industrial automation, electrical equipment, communication equipment, semiconductors, etc.
In the industrial chain, control systems and execution systems are links with a relatively high domestic substitution rate. The domestic substitution rate in some subdivisions (CNC, servo, sensor/instrument and robot body) is rising rapidly.
At present, IPC/PC-based, DCS, drive and execution reducers, servo and sensors/instruments in the control system have reached a high level of localization. Representative companies such as Leisai Intelligent (IPC), Central Control Technology (DCS, instrument), Green Harmonic (reducer) and so on.
The localization of CNC, servo, sensor/instrument and robot bodies is catching up, and the domestic substitution rate is increasing rapidly. Genesis, Haitian Precision in CNC, Inovance Technology in the servo field, Sichuan Instrument Co., Ltd., Konster, etc. in the sensor/instrument field, and Eston and Evert in the robot body are all representative companies in these subdivisions.
From the perspective of the development prospects of industrial robots, human-machine collaboration, artificial intelligence, digitization, lightweight and popularization are trends.
The main carrier of intelligent manufacturing in the physical space is industrial automation, and the main carrier in the information space is the industrial Internet. This is also the development direction of industrial automation.
For investors, the following investment suggestions are given: First, in the industrial chain, focus on servo systems, sensors/instruments, CNC and reducers. In addition, PLC, frequency converters, IPC/PC –
Based, DCS, robots and machine tool bodies are also worthy of attention; the second is to recommend Inovance Technology, Central Control Technology, Green Harmonic, Wolong Electric Drive, Chint Electric, Code CNC, Hongfa Co., Ltd., Yiheda and Megmeet with long-term investment value; the third is to recommend paying attention to Baichu Electronics in the CNC field and Leisai Intelligent, which is engaged in servo systems.
, Zhiguang Electric, MOONSHI Electric, Jiangsu Leili, Buco Electric Co., Ltd.; Sichuan Instrument Co., Ltd., Hanwei Technology and Keli Sensing in the sensing/instrumentation segment; Xinjie Electric, Weihong Co., Ltd., Haide Control and Hongying Intelligent in the control system segment; VEICHI Electric, INVT and Sine Electric in the inverter segment; and Eston and New Star in the robot body segment.
