环保行业点评报告：高阶自动驾驶赋能，开辟无人环卫新蓝海

Investment Rating - The report maintains a "Recommended" rating for the industry, indicating a positive outlook for the sector's fundamentals and expectations for the industry index to outperform the benchmark index [2][7]. Core Insights - The report highlights that autonomous sanitation robots are expected to become a significant application for advanced autonomous driving, with a potential market size exceeding 100 billion yuan. The year 2025 is projected to see a surge in sales of new energy sanitation equipment, contributing to performance growth [1]. - The report notes that multiple high-level autonomous driving projects have already been implemented in the sanitation sector, with L4 autonomous driving models being developed for various operational scenarios [5]. - The potential market for autonomous sanitation vehicles is vast, with a projected market size of 280 billion yuan by 2025, driven by policy support and market demand [5]. - The report emphasizes the expected increase in sales of new energy sanitation vehicles, with a notable year-on-year growth of 72.71% in the first four months of 2025 [5]. Industry Overview - The sanitation vehicle market in China saw sales of approximately 2.45 million units in early 2025, with new energy vehicles accounting for 3,570 units sold, reflecting a penetration rate of 14.55% [5]. - The report indicates that the first batch of public sector vehicle pilot zones has been initiated, with expectations for accelerated promotion of new energy vehicles in trial cities [5]. - The report suggests that investors should focus on companies that are early adopters of autonomous sanitation robots, as well as leading sanitation equipment manufacturers that are likely to benefit from increased sales [5].