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Harris Williams:2024流量控制(Flow Control)研究报告:极具吸引力的投资机会(英文版)(13页).pdf

上传人: 白**** 编号:176219 2024-09-26 13页 2.07MB

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1、0FLOW CONTROL:A HIGHLY ATTRACTIVE INVESTMENT OPPORTUNITYSEPTEMBER 20241Strong market tailwinds and multiple value creation levers make flow control an attractive sector for potential investment Flow ControlA Highly Attractive Investment OpportunitySTRONG MARKET TAILWINDSVALUE CREATION OPPORTUNITIESI

2、NFRASTRUCTURE SPENDINGRESHORING INITIATIVES&SUPPLY CHAIN DYNAMICSENERGY TRANSITION&ELECTRIFICATIONTECHNOLOGICAL INNOVATIONORGANIC GROWTH ACCELERATIONOPERATIONAL ENHANCEMENTTECHNOLOGICAL ADVANCEMENTSM&AIncreased government spending,with$500Bof funding earmarked for infrastructure projects over the ne

3、xt five yearsAdditional spend upside from constantlyevolving regulatory environmentThe build-out of domestic manufacturing capabilities to strengthen previouslyoutsourced supply chains has created pull-through demand for a wide range of flowcontrol productsIn 2023,publicly traded companies alone inv

4、ested over$5B in energy innovation projects Clean energy investments have begun tooutpace fossil fuel investments;for every$1 offossil fuel investment,$1.70 is being invested in clean energy technologyRapid adoption of advanced technologies and digital solutions are optimizing efficiency,increasing

5、cost savings,and improving throughput,creating proven value for usersMultiple secular and long-term market tailwinds support increased demand in the flow control sectorWide range of operational improvementopportunities,including footprint optimization,LEAN implementation,and continuous improvement p

6、ursuitRapidly evolving end markets create ongoing demand for new and more technologicallyadvanced productsLarge,fragmented market creates opportunityto employ buy-and-build strategySources:EY,Reshoring Initiative,International Energy Agency,McKinsey&Company2Flow ControlMarket OverviewSources:Grandvi

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本文主要介绍了流体控制行业作为一个吸引投资机会的领域,并详细分析了该行业的主要市场细分、增长驱动因素以及投资者应考虑的关键因素。 1. 流体控制行业市场细分包括泵和压缩机、阀门和流量计及控制系统,其中泵和压缩机市场价值约为580亿美元,阀门市场价值约为760亿美元,流量计及控制系统市场价值约为100亿美元。 2. 行业增长驱动因素包括基础设施支出、供应链动态、能源转型和电气化、技术创新等。例如,基础设施投资法案为交通和基础设施投资提供1.2万亿美元,其中5500亿美元将在未来五年内分配。 3. 投资者在考虑投资流体控制行业时,应关注专注于特定应用、具有品牌和高品质产品、新产品开发和创新能力、接触高增长终端市场、行业领先运营经验和精益能力、全球服务能力的公司。 4. 行业并购活动频繁,2019年至2024年期间,该行业发生了约950笔交易,表明行业高度分散,为投资者提供了并购机会。 综上所述,流体控制行业是一个具有吸引力的投资领域,具有多个增长驱动因素和并购机会,投资者应关注具有特定应用、高品质产品、创新能力和运营经验的公司。
为何是高吸引力投资机会? 基础设施支出如何推动流体控制市场增长? 技术创新如何影响流体控制行业的发展?
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