电网&工控2025年度策略报告：AI机器人催生电气大浪潮，电力设备&工控第二曲线加速

Investment Rating - The report recommends a positive investment outlook for the power grid sector, with specific stock recommendations including Si Yuan Electric, Samsung Medical, Pinggao Electric, China West Electric, Guodian NARI, Jinpan Technology, Xu Ji Electric, Hai Xing Power, Si Fang Co., Igor, and Anke Rui [7][329] - For industrial control and humanoid robots, recommended stocks include Huichuan Technology, Sanhua Intelligent Control, Hongfa Technology, Weichuang Electric, Leisai Intelligent, Rujing Technology, Mingzhi Electric, and Xinjie Electric, with a focus on Beite Technology, Hechuan Technology, Suling Co., Best, Wuzhou New Spring, and Keli Sensor [7][329] - In the AI electrical equipment sector, the report recommends Magmi Tech, with a focus on Inveik, Oulu Tong, Kehua Data, Zhongheng Electric, Weilan Lithium, and Gaolan Co. [7][329] Core Insights - The power grid sector is experiencing a significant investment boost, with expectations of over 50% year-on-year growth in ultra-high voltage investments and a positive outlook for new distribution networks [4][15][47] - The industrial control sector is at a low point but is expected to recover, driven by domestic demand and the emergence of humanoid robots, with a projected growth of 0-3% in demand for 2025 [5][180] - The humanoid robot market is on the verge of mass production, with major players like Tesla expected to produce 3,000-5,000 units in 2025 [6][236] - AI is driving advancements in traditional industries, with significant investment opportunities emerging in the power grid and industrial control sectors [6][268] Power Grid Summary - Domestic ultra-high voltage and distribution networks are key investment areas, with expectations of a 50% increase in ultra-high voltage investments and a 15-20% growth in distribution networks by 2025 [4][15][47] - The report highlights the importance of new technologies such as virtual power plants and flexible interconnections in the power grid sector [4][47] - The global demand for power equipment is expected to increase, particularly in the US and emerging markets [4][15][47] Industrial Control Summary - The industrial control sector is currently at a low point, but recovery is anticipated in 2025, driven by domestic demand and the introduction of humanoid robots [5][180] - The report notes that traditional industries are expected to perform well due to indirect exports and upgrades [5][180] - The demand for industrial control equipment is projected to grow by 0-3% in 2025, with a focus on domestic recovery [5][180] Humanoid Robots Summary - The humanoid robot market is set for significant growth, with major companies like Tesla and Huawei making strides in production and technology [6][236][240] - The report emphasizes the importance of core components such as motors and actuators in the humanoid robot supply chain [6][236][240] - The expected mass production of humanoid robots in 2025 presents a substantial investment opportunity [6][236] AI Electrical Equipment Summary - The AI electrical equipment market is projected to reach over 400 billion yuan by 2025, driven by the increasing power demands of AI data centers [6][275] - The report highlights the transition from traditional cooling methods to liquid cooling systems as a key trend in the AI electrical equipment sector [6][287] - The demand for transformers and power supplies in AI data centers is expected to grow significantly, with a projected market space of 94 billion yuan for UPS and HVDC systems by 2025 [6][304][309]