工程机械行业电动化专题报告：工程机械电动化时代启幕，策略引领技术突破进入新篇章

Industry Investment Rating - The report highlights the strong growth potential of the electrification trend in the construction machinery industry, with significant advancements in technology and market penetration [2][6][9] Core Views - Electrification is a key direction for green development in the construction machinery industry, with global electrification rates still low and significant room for growth [2][6] - Technological advancements in electrification are driving export growth, with China's competitive edge in aftermarket services enhancing its global market position [2][9] - The economic advantages of electrified construction machinery, particularly in operational and maintenance costs, are becoming more pronounced as battery technology improves and costs decline [2][10][13] - National policies are accelerating the electrification of construction machinery, supporting the dual carbon goals of energy conservation and emission reduction [2][28] Key Technologies and Market Trends - The core technologies of electrified vehicles, including batteries, electric drives, and control systems, are increasingly being applied in the construction machinery sector [3][34][37] - Intelligent transformation is a major trend in manufacturing, with construction machinery gradually evolving from basic automation to fully autonomous operations [3][39][40] - The market demand for electrified construction machinery is rising, with varying levels of development across different product types such as forklifts, loaders, and excavators [4][42][48][53] Company Highlights - Sany Heavy Industry is leading in new energy technology, with significant investments in electric and hybrid products, achieving a market-leading position in electric mixers and cranes [56][57] - Hangcha Group has made significant progress in new energy forklifts, with a comprehensive product line and strong supply chain capabilities [61][62] - XCMG is advancing its new energy product line, with notable growth in electric loaders and mixers, and a leading position in the new energy heavy truck market [65][66] - Anhui Heli is focusing on high-end, intelligent, and green industrial vehicles, with a strong market presence and significant growth in electric product sales [67] - Liugong is rapidly expanding its electric product portfolio, with a wide range of electrified machinery and a leading market share in electric loaders [68]