New energy vehicle subsidies will also decline, industry competition will be more intense
New energy vehicles are a big industry that China has high hopes for. In recent years, the government subsidies for the new energy automobile industry have made China the world's top, and this has also sparked various discussions. If we discuss the role of industrial policies in industrial development in the future, China's new energy auto industry is a classic case. A few years ago, the new energy auto industry did not have the conditions for market introduction at the technical and cost levels, and it was still a future industry. However, under the subsidy of the Chinese government, this industry landed ahead of time and formed a large market in China. This has nurtured the entire new energy automobile industry chain, and there have been a large number of enterprises related to the new energy automobile industry. From the current situation, Chinese companies have strong reserves in all aspects of the entire industry chain, from electric vehicles, battery manufacturers, to battery material manufacturers, each segment has a considerable number of high-quality companies, listed companies In the global market, it already has considerable voice and even has a partial global advantage. In the next few years, with the maturity of various technologies, new energy vehicles will usher in a global outbreak. The world's major auto giants will fully enter this industry, and the industry is more competitive, which will truly test China's new energy. The quality of the automobile industry chain is also a major test of China's industrial policy. Perhaps from the current development results, it can be optimistic that this gamble in China has a bigger win. If this judgment becomes a reality, China's industrial policy will be extremely reflective. It is of great significance to the development of other backward industries in China by summing up experience and lessons. It is also of great significance to the entire world economic map, but perhaps this gives Mainstream economists have raised a big problem. To understand the above content is a huge work of engineering, but first of all need to fully understand the specific status of China's new energy auto industry. Recently, Yang Zao, chief analyst of Tianfeng Securities New Energy and Power Equipment Group, on the entire industry chain from policies and markets. We have made a speech in specific sub-divisions. From this, we can make a more detailed understanding of the industrial chain of China's new energy auto industry. The following is an excerpt from the finishing speeches - The new energy automobile industry chain is longer than the traditional automobile industry chain. In the national planning, new energy vehicles plan to reach the sales target of 2.2 million units by 2020. In 2014, the first year of the industry broke out. In 2015, the sales volume was 330,000 units, and in 2016, it was 520,000 units. In 2017, it is expected to reach 500,000 units. The growth rate is very fast. Although the growth rate is slowing down, it is still very impressive to maintain a growth rate of 30% to 40%. The sales of new energy vehicles accounted for a very small proportion in the entire automotive market. In 2016, the total sales volume of the Chinese automobile market was 28 million, so the proportion of new energy vehicles was only 1.86%. It can be said that this industry is still a very very small market segment, but on the contrary, the industry has a very large growth space. The government comprehensively controls the development of new energy vehicles We have a point of view. If the sales volume of new energy vehicles reaches 2.2 million in 2020, the total penetration rate of new energy vehicles is only about 8%. It is in the lead-in period of the industry. If you compare smartphones, the penetration rate in smartphones exceeds 10 After the %, the industry really ushered in rapid growth. As an approximation of the alternative, new energy vehicles accounted for 8% of sales, which can be regarded as a node to replace traditional cars. After this node, the industry has entered a high-speed growth period. The development of the industry is divided into three periods. The first stage is the introduction period, and the penetration rate during the introduction period is less than 10%. The introduction period is characterized by high product prices, technology is still improving, and consumer acceptance is low. This description is very similar to the current state of the new energy automotive industry. The second stage is the growth period, the technology is developing rapidly, the products are more mature, the consumer acceptance is higher, its penetration rate is between 10% and 40%; the third stage is the maturity period, and the products are comprehensively surpassing the old products, consumers The recognition is very high and has completely replaced the old products with a penetration rate between 40% and 80%. According to the planning trend, the penetration rate is 8% in 2020 and 15%-18% in 2025, which means that between 2020 and 2030, the industry is still in the growth stage, after which it is mature. . Therefore, the industry has seen considerable growth in the past few decades. In addition, global trends have taken shape, and the latest developments in new energy vehicles in the world's three major auto powers support this. On November 30 last year, Toyota Motor Corporation announced the establishment of the electric vehicle business unit, which is directly led by President Akio Toyoda and is preparing for 2020. The first pure electric passenger car was released. In the past, Toyota has been taking the fuel cell route, but at the end of last year it turned to the parallel route from fuel cells to electric vehicles and fuel cell vehicles. Not to mention the United States, Tesla's Model 3 can be mass-produced this year, with a predetermined volume of more than 400,000 units. This is the biggest explosion of the year. Germany had a widely spread news last year. It advocated the ban on the sale of fuel vehicles by 2030. This is certainly not possible, but the trend of German car electrification is very obvious. In China, for the new energy vehicle, President Xi Jinping said that the development of new energy vehicles is the only way for China to move toward a car power. This sentence does not emphasize that the development of new energy vehicles is to save fuel and environmental protection in the future, but to undertake the heavy responsibility of industrial upgrading in the automotive industry. Therefore, Japan, the United States, Germany, the world's most advanced car countries began to force new energy vehicles in the background, China's new energy vehicles will only accelerate in the next few years, will not slow down. Since October last year, the Ministry of Industry and Information Technology has been the mainstay, and other parts such as the Development and Reform Commission, the Ministry of Science and Technology, and the Ministry of Finance have been very intensive, and the entire industry is clearing various relationships. Up to now, China's policy system from 2017 to 2020 has basically been completed, and the most important links in the policy system have been adjusted. The subsidy adjustment policy has more contents, and subsidies for passenger cars, buses, and logistics vehicles are The energy density of the battery is linked, and subsidies are given to different grades according to different energy densities. Second, the amount of local financial subsidies is reduced. The original requirement for local financial subsidies and central financial subsidies can reach 1:1, but in many places, according to 0.5 To 1.8 times the subsidy, the demand now must not exceed 50% of the central financial subsidy. This is to reduce local protectionism and to have better competition. For the national standard of power batteries, the safety requirements of vehicles are very comprehensive. The competition barriers and entry thresholds of the industry have all increased, which is conducive to high-quality enterprises to stand out from the competition. In the 2017 policy, in terms of the big picture, first, the entry threshold has been comprehensively upgraded. The national standards such as access rules, safety and technical conditions, national standards, and a series of products are still being formulated. Second, it has created a very A complete catalogue system, with a catalogue of promotional application accessories, which is linked to subsidies; and a catalogue of new energy vehicle models exempt from vehicle purchase tax, which is linked to the purchase of new energy vehicle purchase tax exemption for vehicles; The catalog, as well as the battery pack system catalog, as well as the motor catalogue, are currently under development. The third change in policy is the decline in subsidies, mainly in the passenger car sector, which has declined more and fewer passenger cars have fallen. The decline in bus subsidies is logical, because the subsidy for buses has been somewhat high, and subsidies for some models have completely covered its costs, which is actually not conducive to the long-term growth of the industry. Fourth, this year, it is possible to pilot quotas in some cities and see the points system. This is a reversal of the relay subsidy policy in 2019. To be comprehensive after 2020 is to achieve through it. That is to say, the government hopes to take this industry into its own hands and play the guiding role of the government. It will no longer let it grow wildly, because the success of this industry is of great significance to the government. Therefore, it implements complete regulation of the industry from top to bottom through a layered directory system. Localization of key links The new energy automobile industry chain is longer than the traditional automobile industry chain. It involves two industrial chains of battery packs and motors. The battery is from the upstream lithium concentrate, then to lithium carbonate, lithium hydroxide, lithium polymer, etc., to the four main materials in the battery, positive and negative, electrolyte, diaphragm and some auxiliary materials, and then to the monomer The battery, the battery module, the heat pipe body in the battery module, the structural parts, and some high-voltage line speeds, this is the industrial chain that constitutes the battery pack. The motor includes electronic permanent magnets, electronic control, and HBT in the electronic control. Then there is a subdivision of a ternary battery, its positive electrode, and then the precursor, the precursor is further nickel-cobalt manganese, and then upstream is the lithium ore raw materials. The top enterprises in the industry are BYD, Geely, BAIC, Zotye, SAIC, and Jianghuai. In 2016, the highest sales volume was BYD's 100,000 units, followed by Geely's 50,000 units, and Beiqi New Energy 's 47,000 units. 37,000 vehicles, as well as Chery and SAIC passenger cars Jianghuai. It is expected that in addition to these traditional passenger car companies in 2018 and 2019, the model of foreign-funded enterprises will be very large, so there will be a significant increase in the number of people entering the industry in the next two years. At this time, the competition in the industry will be significantly intensified. The power battery industry, Fujian Ningde Times New Energy, BYD, Guoxuan Hi-Tech, Tianjin Lishen, Bit, these battery manufacturers have better customer quality, and are also the top enterprises in the industry. From 2016, the industry's shipments were 28.5MWH. The top two BYD and Ningde eras have obvious advantages, and the two together account for nearly half of the total sales. To the back of the Waterma, Guoxuan Hi-Tech, Tianjin Lishen, AVIC Lithium, Shenzhen Bit, this is the second echelon. The growth rate of the industry is very fast. Although the first few shipments are very large, these companies can find their own living space. Many problems in China are solved in the process of growth. In this fast-growing industry, everyone has Opportunity, just to see who can grasp the trend of the industry, the turning point, can do the front, this ranking is constantly changing. The largest material in the cell is the positive electrode material. The positive electrode material is divided into three major categories: lithium iron phosphate, ternary material and lithium manganate. The ternary materials are divided into various types according to the ratio of nickel, cobalt and manganese, such as 333. 424, 523, 811. According to the calculation of ternary power battery shipments of 4.26GWh, the demand for cathode materials is 9,400 tons, and the demand ratio is close to 25%. In 2015, China's lithium iron phosphate shipments accounted for nearly 90% of the global total. In the global market of lithium cobalt oxide, China is also very large, which is used for digital batteries; nickel-cobalt-manganese shipments are 93,000 units worldwide, and China is 37,000 units, accounting for nearly 40% of the world. China's lithium manganate accounts for one-third of the world's total, because China's demand for power batteries has driven the growth of lithium iron phosphate and nickel-cobalt-manganese, and the proportion of these two will increase further in the future. Behind the positive electrode material is the electrolyte, and the advantages of Chinese companies in the electrolyte market are more obvious. The third most critical material in the cell is the diaphragm, which is the highest barrier of technology. In 2015, global diaphragm shipments were 1.55 billion square meters, and China’s shipments reached 700 million square meters, accounting for 45 percent of the world. %, but the high-end diaphragm is still monopolized by some overseas manufacturers, but from the technical ranking point of view, Shenzhen is ranked first. The diaphragm is very high for many companies, and the time for new entrants to debug equipment and technical problems is very long, so the status of the first few is still very strong. The last major material is the negative electrode, which is also a highly concentrated industry. China accounts for 64% of the global market. Further upstream materials, the natural advantages of lithium carbonate are very obvious. There is also a segment of the upstream segment of lithium hexafluorophosphate, lithium hexafluorophosphate is also a very very high barrier industry, the price increase of lithium hexafluorophosphate from the end of 2015 to 2016 is very obvious, from 70,000 yuan a ton to 450,000 tons, And its cost has only increased from 60,000 yuan to 80,000 yuan. Why is it so much? Because the technical threshold is very high, it used to be produced by Japanese companies, and now Chinese companies have come up. Chinese companies will continue to rise in the global market this year and next year. In the future, the capital market will pay more attention to one area. It is now operating very well and has technical barriers. Tubular tungsten carbide welding rods are a type of welding consumable used for hardfacing applications. They are made by filling a tubular steel rod with a mixture of tungsten carbide particles and a binder material. 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Therefore, the industry is generally like this from big policies and data to various sub-sectors. In short, this is an industry with huge growth space, and Chinese companies are developing very well.
The tungsten carbide particles provide exceptional hardness and wear resistance, making them suitable for applications where the welded surface needs to withstand high levels of abrasion, erosion, or impact. The binder material helps to hold the tungsten carbide particles together and facilitate the welding process.
Tubular tungsten carbide welding rods are typically used in industries such as mining, construction, oil and gas, and agriculture, where equipment and machinery are subjected to harsh operating conditions. They can be used for hardfacing various components, such as drill bits, crusher hammers, wear plates, and cutting tools.
The welding process for tubular tungsten carbide rods is similar to other types of welding, such as shielded metal arc welding (SMAW) or gas tungsten arc welding (GTAW). The rods are typically welded using a high heat source, such as an electric arc, to melt the rod and create a strong bond with the base metal.
Overall, tubular tungsten carbide welding rods are a popular choice for hardfacing applications due to their exceptional hardness and wear resistance properties. They help extend the lifespan of equipment and machinery, reducing maintenance costs and downtime.