The coal to natural gas equipment industry is about to experience high growth
Release time ：
2015-07-07
On February 14th, Fangzheng Securities (Weibo) released a research report stating that with the rise of oil prices and the increasing shortage of petroleum and petrochemical products, the modern coal chemical industry, which produces clean energy and petrochemical products with abundant and low-cost coal resources, will become the biggest focus of the chemical industry during the 12th Five Year Plan period. According to preliminary planning statistics from various provinces, the investment in coal chemical industry during the 12th Five Year Plan period is nearly 2 trillion yuan. Compared with the other four directions of modern coal chemical industry, coal to natural gas has the highest energy conversion efficiency, mature technology, simple process, low investment cost per unit heat value, and is expected to be the first to achieve scale.
Founder Securities stated that the investment in coal to natural gas equipment accounts for over 50%, and the market size is conservatively estimated at 100 billion yuan. According to the experience data of the Haichuan Chemical Forum, in equipment investment, pressure vessels account for about 45% of the total demand, heat exchangers account for about 20%, pumps account for about 15%, and air separation equipment, piping, valves, instruments, and electrical control account for 20%. The Datang Fuxin coal to natural gas project started construction in April 2010. During the process of organizing the bidding announcement for the project, the agency found that since October 2011, the relevant equipment has entered a centralized bidding period. Based on the statistics of the construction status and dates of the proposed coal to natural gas project, Fang Zheng Securities believes that in 2012, coal to natural gas equipment enterprises are expected to enter a period of large-scale order growth, and future performance is expected to continue to grow high.
Founder Securities believes that from the perspective of market space size, gasification furnaces, which account for nearly one-third of the investment in coal chemical equipment, share the largest market space. As a leading manufacturing enterprise in this type of core equipment, Zhanghua Machinery is recommended to prioritize key configurations by Founder Securities; In addition, the institution also recommends the field of heat transfer equipment, with a focus on Lanke High tech, which accounts for the largest proportion of heat exchanger business revenue and ranks first in the domestic market share; As well as in the field of pressure vessels, it is recommended to focus on Hai Lu Heavy Industry, which has certain application performance in coal chemical demonstration projects, is about to release production capacity, and has a safety margin in its stock price.