HPEC(SH:600312) Chan Ye Xin Xi Wang·2025-09-26 01:39Core Viewpoint - The gas recovery device market in China is projected to reach 7.482 billion yuan in 2024, reflecting an 8.32% year-on-year growth, driven by increasing environmental regulations and the need for resource recycling [5][6]. Industry Overview - Gas recovery devices are systems designed to recover, purify, or reuse industrial waste gases, precious gases, or harmful gases, significantly reducing resource waste and environmental pollution [2][4]. - The main categories of gas recovery devices include industrial gas recovery, specialty gas recovery, environmental gas recovery, and energy gas recovery [3]. Industry Chain - The upstream of the gas recovery device industry includes raw materials and components such as steel, adsorbents, membrane separation materials, chemical absorbents, sensors, vacuum pumps, storage containers, and drying filters [4]. - The midstream involves the manufacturing of gas recovery devices, while the downstream applications span across steel, petrochemical, electric power, semiconductor, electronics, and environmental sectors [4]. - In the first seven months of 2025, China's steel production reached 860 million tons, a 5.79% year-on-year increase, contributing to the demand for gas recovery devices due to the significant waste gas generated during steel production [4]. Market Size - The gas recovery device market is expected to grow to 7.482 billion yuan in 2024, with a production volume of 284,600 units (up 8.75%) and sales volume of 268,900 units (up 10.93%) [6][7]. Key Company Performance - Pinggao Electric has been a leader in SF6 gas recovery technology for over 20 years, selling over 2,000 recovery devices with a recovery rate of 99% [7]. - The company reported a revenue of 5.696 billion yuan in the first half of 2025, a 12.96% increase, and a net profit of 666 million yuan, up 24.59% [8]. - Beijing Feida Jieneng specializes in CO2 capture and nitrogen production technology, achieving a 30% reduction in energy consumption and a processing capacity of 100,000 tons per year [9]. Industry Development Trends 1. The industry is accelerating its digital and intelligent transformation through advanced sensors, IoT technology, and data analysis to enhance gas recovery efficiency and safety [10]. 2. There is a growing emphasis on technological innovation to develop more efficient, energy-saving, and environmentally friendly gas recovery technologies and equipment [10]. 3. As the industry's technological capabilities improve, leading companies are expanding into international markets, enhancing their competitiveness and brand presence globally [11].