电力设备行业跟踪周报：锂电年底需求旺盛开启新周期、风电招标规则修订风机价格回升

Investment Rating - The report maintains an "Overweight" rating for the electric equipment industry [1]. Core Insights - The demand for lithium batteries is expected to surge by the end of the year, initiating a new cycle, while wind turbine prices are recovering due to revised bidding rules [1]. - The U.S. large-scale energy storage installations in October reached 754 MW, a year-on-year increase of 317% [1]. - The report highlights a significant growth potential in the energy storage sector, with a projected CAGR of around 50% from 2023 to 2025 [1]. Summary by Sections Industry Overview - The electric equipment sector saw a 1.74% increase, underperforming the market, while wind power surged by 8.64% and photovoltaics by 4.43% [1]. - The report notes that the U.S. energy storage market is experiencing robust demand, with a notable increase in installations and a strong pipeline for future projects [1][12]. Company Developments - Companies like CATL and BYD are highlighted for their strong market positions in battery technology and electric vehicles, with CATL being a global leader in power and energy storage batteries [1]. - The report mentions various companies' strategic moves, such as share buybacks and new project investments, indicating a proactive approach to market conditions [1]. Market Trends - The report anticipates a recovery in the photovoltaic market, with global installations expected to reach over 490 GW in 2024, a year-on-year increase of approximately 20% [1]. - The wind power sector is also expected to see significant growth, with land-based wind installations projected to reach 100 GW in 2025, a 25% increase from previous years [1]. Recommended Stocks - Key recommended stocks include CATL, BYD, and LONGi Green Energy, which are expected to benefit from the ongoing trends in energy storage and electric vehicles [1][8].